Wednesday, August 25, 2010

Starting with practice account


The best way to start and learn trading without loosing to much money is with practice accounts. Every forex or stock broker enables you to trade with virtual money. With practice account you are instantly in the action. You can test your trading strategy, your technical analysis and following the trading plan. You start to trade without fear of loosing money. Practice accounts are great to get you started but they cant replace experience on trading with real money. When dealing with real money emotions come to play.

With practice accounts, you can learn about different terms like stop loss, market order, limit order, trailing stop-loss orders...You can see how the system is working and you can learn from brokers help library, almost every broker has one. So spend some time trading with practice account and learn about technical analysis in the process.

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