Before embarking on your CFD trading journey it is very beneficial to open an FX demo account first - https://www.cfdspy.com/guide/demo-account/. It is vital to learn how specific platforms work and to familiarize yourself with their features. When trying out different platforms, first identify their unique features and see if they would be of any use to you. Also, test out how quickly and accurately you can execute an order because when trading with real money this will have to be done in a quick and precise manner.
Platforms can vary with some focusing on tools, live feeds and social trading, while others are more price orientated and focus on the prices themselves. Learn to manipulate the platform to your own specific trading style.., in other words customize the platform in the colors you prefer and adjust the charts to the correct time-frames including the indicators you have chosen o follow.
Although a demo account is only for practice it does offer you a real chance to test out your ideas and strategies. In today's world, the number of people looking for a second source of income is increasing everyday. A substantial amount of these people will look at CFD (https://www.cfdspy.com/) because it is quick, you can do it from home and the initial outlay is reasonable. A bit like starting a business, except in business there is no such thing as a free trial. Think about it, An FX demo account is the only business where you have the opportunity for a trail run before you begin, enabling you to see if it will work in the real world, with real money.
Always remember that if you are failing to see chart setups and familiar patterns on a demo account, how an earth will you be able to see it in the real fast market when there is real money involved. A demo account is the ideal place to brush up on these skills. Always bear in mind to keep the demo account the same size as the account you wish to trade with real money. There is no point in trading a million dollar account if you plan to start out with a thousand dollars. The idea is to treat it as real from the very beginning, so that once you have mastered your strategy and money management skills, you are ready to tackle the professionals and enter the live market with real purpose and conviction.
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