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The mostly professional trader say's theat the practice of the demo trading is very necessary so i want to aks you why the demo trading is necessary in the forex trading and what is the major reason of that. and how much time we required in the demo trading?
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If you want to succeed in Forex trading business you must have some experiences and knowledge about Forex trading business. Demo is very source of acquiring experiences and knowledge about Forex business. So a newbie should practice more and more in their own demo account as long as they get enough experiences and knowledgea about Forex trading business.
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Practice is not necessary but getting knowledge and experience is so that’s basically he main purpose of demo account and if we are able to complete this in any other way then even that’s okay demo is not necessary. I am getting great knowledge and experience from Champion demo contest which is sponsored by OctaFX broker and has mighty $500 prize for the winner so with this large bonus in store everyone is motivated to give their best in order to win it.
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I think practice in demo is crucial because we obviously can’t do it on real account, now days it has become much easier for me to work out because I use OctaFX broker with their demo contest like Southampton Supreme, it is pretty cool with having serious prizes up to 1000-1500 USD, they have listed unlimited, but in recent contest it is ranging around the figure I said above, I am pretty pleased participating on here since that has allowed me to practice with the highest level of motivation, it is something you can’t be really getting when you talk about simple demo account, so that’s why this is so very good for anyone especially for newbies who are just starting up here.
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As there is a saying that practice makes anyone perfect, so that’s why demo account is so vital, it is just what help us with learning, if we don’t use demo account option then we are just taking huge risk which might take us towards losing badly. I have learned to handle this sort of risk and this is all due to Vinson Financials Company, they have helped me massively in multiple ways with their low spreads, high leverage plus really smooth trading platform, it is just fantastic!
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Demo is necessary for those who are not having any other option, but for me I have many options open with OctaFX broker, I use to operate on demo because I wanted to test out strategies and methods before applying them on real, but ever since I joined this lovely company, it has been breakthrough stuff for me since with their wide range of demo contest, I can regularly perform well since apart from the obvious scope for practice, I can also come out winning great prizes especially with their Southampton Supreme demo contest with having unlimited prizes to be won, it is quite brilliant stuff there for people seeking for practice since this is a deadly combo of practicing plus prizes, so this keeps up with the motivation factor.
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Practicing is what ultimately makes us better, so if we’re not practicing then how will we get better? I don’t think demo is that boring especially if you’re trying new stuff. I have worked on demo account for long time since I enjoy creating new methods and strategies; it’s seriously helpful to be with a broker like OctaFX since with them we can try many other options like mention by David. I’m hesitant with participating on longer contest like Champion, but I enjoy ones like cTrader and Southampton Supreme Game, it’s weekly based and always leads to huge benefits which too fairly consistently, so that’s why I am able to perform really nicely and leads to consistent benefits for me in any situation.