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Monday October 17, 2016 - 23:45:33 GMT
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Why and how to trade on a demo account?

Utilizing a demo account in the online trading can be a very rewarding experience. To remind the term, the demo account is the special type of the account that enables the investor to check the broker’s services prior to funding the live account with real money.  The demo account operates with virtual cash granted by the broker.

Why should the trader use the practice account, if he could earn more in the live trading environment? Well, it is important to test the waters before making the first deposit. You need to see whether online trading is something you would like to do in the long run.

Benefits for trading

Secondly, the demo account simulates real market conditions. This allows the trader practice in the same market but excluding any possible risk. The demo account is almost vital for the beginners, since they usually do not know how to effectively manage their positions and the risk associated with trading. Making mistakes is inevitable, but the novices should not be afraid of them.

In addition, trading on the demo account can teach how to properly manage emotions and eliminate their negative influence. Sometimes it can be a daunting task for the newbies to react reasonably to the losing and winning trades. Therefore, emotions quite often affect the general profitability. Using the risk-free environment can help the trader learn to control greed, fear and other destructive emotions.

The demo account & the broker

Another benefit is the capability of testing a good Forex broker. In other words, you can examine the trading platform that your broker offers. Not every brokerage provides MT4 or cTrader, some might apply the platform that you may not be familiar with. With the help of the demo account, you can check the functionality of the platform and see whether the software is comfortable for you to use. If there are any troubles with the order execution, lags or the charting tools seem to be poor - then the platform is probably not the best option. The benefit here is that you do not risk a single penny when testing the trading software in the demo mode.

Essentially, you can investigate the quality of the broker’s services. This means that apart from the good demo account, the broker will also supply various news and educational features. Additionally, when trading on the demo account you might need to contact the customer support in order to clarify all the possible questions.

The last important thing to mention in this article is that the demo account can assist in testing different trading strategies. If you have the trading strategy in your arsenal but unsure about its viability, then the demo account is certainly for you. Without risking the  capital, it is possible to adjust the trading system properly and see how it works in the real market environment.

The Bottom Line

The demo account is the great tool for those who start out at the online trading. We encourage you to use it at the beginning of the trading career.

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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Trading Ideas for 18 October 2017

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Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



John M. Bland, MBA
co-founding Partner, Global-View.com

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The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

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Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

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The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

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Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

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Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

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