A Forex Trading Demo Account allows you to duplicate a live trading environment – without committing any actual currency at the chance. It lets you begin free online trading moderately promptly so that you can assess trading before taking a chance for real currency.
Start Forex Trading With As Little As $1
Because you can have A Live and A Demo trading desks within one AGEA account:
You can start trading on demo account which already has $10,000 virtual funds.
You can claim your $5.00 Welcome Bonus and start live forex trading without extra deposit.
You can deposit and add more funds to your trading account.
To receive your $5.00 welcome bonus, you need to verify your account:
a) Picture Identification: (i.e. passport, driving license or government-issued ID). This document must include picture, full name, date of birth and expiration date.
b) Address Confirmation: Acceptable forms of proof of residence include, but are not limited to, a utility bill (water, gas, electricity or similar), telephone bill, bank statement, credit card statement, mortgage statement, tax correspondence, official government-issued identity card (this must not be the same document as provided for the proof of identity). This document must contain full name, complete residential address and be dated within the last six months.
Habits, good or bad, apply to all aspects of life. Let’s take a look at how habits affect my favorite area – forex trading. Over the years, I have found that the following seven habits can help traders keep their feet on the ground and, more importantly, keep them profitable.
Habit 1: know the reason for every trade
Many traders try to jump into the market because they “think” it’s profitable. Usually, when the price drops sharply, traders will take action, because they think that “the price has dropped to a very low level, and it will rebound”.
Every trade has a reason. This means that you have to follow a trading plan. Trading can never be “intuitive”.
Habit 2: there are always new Trades
In my trading career, the traders I met always seem to be on tenterhooks. They become anxious and depressed because they “missed the trend” and regret that they didn’tuse their laptops to complete all the important trades on this day.
The foreign exchange market is the largest financial market in the world with a daily turnover of about US $400 trillion. Trading opportunities are endless, so don’t blame yourself for losing one. Who said that the lost trade will be profitable? That’s a comfort.
Habit 3: be decisive
This habit is my rule when I teach students. I sometimes joke with students that if I heard that any student didn’t cut his position after trading, no matter where I was at that time, I would fly back to hit him on the head!
Believe me, the most important reason for traders to lose money in their accounts is their habit of taking excessive risks. Don’t fall into this trap, always cut the position. Make it a good habit from today on.
Habit 4: don’t retaliate after losing money
You just finished the trial transaction in the simulation account, and now you are ready for the real transaction. The first chance is here. It’s time to make a lot of money!
You made a trade, but you were forced to cut your position. Once again, you try to sell.
You are annoyed, the transaction should not be like this!
In the third transaction, you increase the investment cost to three times of the original, because you want to “win back” the money that the foreign exchange market mercilessly takes away from you.
This behavior sounds too familiar, right?
Don’t fall into the trap of revenge. The foreign exchange market will make you pay a heavy price. The key here is to understand that this is not for you alone. No one makes money on every trade. What you should do is leave the computer and re analyze your trading plan.
If everything goes according to plan, great! It’s normal to have losses. Accept that.
Habit 5: keep a trading diary
This is difficult, and not many traders do it. Those who keep a diary really believe in its immeasurable effectiveness.
The trading diary should record the decisions you made before the transaction, and record your thoughts and emotions after completing the goal. The following short list tells you what should be included in the transaction diary:
1) The date and time of the transaction
2) Currency pairs (e.g. euro / US dollar, US dollar / Japanese yen or British pound / Canadian dollar)
3) Actions / strategies taken (long term or short term)
4) Risk (how many hands, cut positions)
5) Potential profit (do you have one or more profit targets? )
6) Results (profit / loss)
7) State (what are your thoughts and emotions? Are you doing the right thing? )
A trade diary is like a road map. It can help you point the way. Here’s a question: if you don’t record your progress, how can you know if you are going in the right direction?
If you don’t have a framework as a measure, how do you know if some “bad habits” will inadvertently become your stumbling block? Start to keep a trading diary today!
Habit 6: keep your brain clear
Just had a fierce quarrel with friends or family. Is it wise to do analysis or trade at this time? Or you work 14 hours a day and your boss scolds you for not completing your task. Is it wise to make a decision at this time?
Of course not. When you are ready to trade on the computer, you must always keep a clear mind. You don’t want any emotions to make you hallucinate and see patternsthat don’t exist on the screen.
Habit 7: always pay for yourself
Is this habit important? of course.
What is the ultimate purpose of the transaction? It’s about generating continuous profit returns. But what’s the point if you don’t enjoy the benefits of exchanges?
There are many ways to pay for yourself in this industry. Let me list a few:
1) Set a goal of getting all the money back. When you achieve this goal, take out your start-up funds and use the money you have earned to trade later. This is actually a “risk-free” business.
2) Take out a certain amount of money remaining in the account and continue to add it when you have reached 20%. Make sure you withdraw far more than you may have to pay your broker.
Now you know the seven habits of foreign exchange trading experts. How to develop these habits? Very simple, as long as you have been doing these things for quite a long time, then these behaviors will naturally become your habits.
After that, you can develop into a mature trader and become an important force in the trading world.
Finally, I’d like to share with you a wonderful quote from Vince Lombardi, the greatest football coach in history
Success is not temporary; Success is consistency. Success is not an accident, It’s not the occasional right thing to do, It’s always doing the right thing. Success is a habit, Unfortunately, the same is true of failure.
Get a FX+trial free trading account now with AGEA, a Forex (Currencies) trading company. Try the forex demo account no time limit.
Here’s the deal: AGEA has no requirements for initial deposit on the standard trading platform. When you verify your account, you will receive $5 welcome bonus (it is a no deposit bonus) and virtual $10000 to practice trading on the standard trading platform.
This is crazy: It’s a fx+trial demo account for free, and you can start trading on the real account as well, when you get the $5 no deposit bonus. No matter if you use the $5 reward or make additional deposits to make profits, you will be able to withdraw all funds at any time. That means you don’t need to make X lots of trades or make X dollars of deposits.
You can practice trading on this forex demo account with no time limit, as long as you want. You can ask for help on the 5×24 Live Support channels and chat with other traders worldwide on the Market Chat channel.
Also, you can trade on AGEA standard platform Streamster, you need to download and install it on your computer.
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