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Benefiting From Online Stock Market, Forex Demo

Jun 3, 2008
Before airplane pilots actually fly a plane, they usually have a series of practices in simulators that re-create what flying will be like without any actual danger. Since stock market trading, particularly currency trading is as financially as flying is physically, it makes sense that there would be a forex demo available that a stock market or forex market can do some practices, too.

A for-ex demo is an intelligent method for a new stock market or forex investor to start. Reading books and taking online courses can teach you the basics or stock market-- like penny stocks, stock quotes, etc.-- but the best way to learn anything is to get some actual experience. But with for-ex, actual experience could mean losing your shirt. So a demo gives you real-world training with no real money being involved.

In usual cases, the demonstration comes courtesy of a brokerage or other financial Web site that has an interest in currying your need. The plan is that once you have tested your skills in the demo, you will get into the real thing and take advantage of the paid services the demo provider has to give -- for-ex signals, managed accounts, automated trading, among others. The demo is like a free sample, offered in the hopes that you will enjoy it so much that you purchase something, too.

For that fact, you should be highly suspicious of any Web site that wants to pose payment for a demo. Considering there are literally dozens of web sites that give demonstrations without payment, there is absolutely no reason that you should give payment for it.

When you sign up for a foreign exchange demo, you are provided a username and password and shown how to utilize the demonstration system. In some cases, it involves downloading a piece of software or program unique to the company; other times it is simply done over the Internet. (Some demos need Macromedia Flash, which most browsers have installed, but which you will need the most present version of.)

Once you are registered in to the foreign exchange demonstration, you do all the things you would do as if it were a real-world scenario: reading the charts, following the market trends, participating in online forums to get other traders' ideas, and making trades. The trades are recorded in the forex demo only and do not go anywhere into the real market since there is no real money involved. When the market changes, the program determines how much you have gained or lost based on the decisions and actions you made.

So, slowly but surely, you will be able to learn techniques, dos and don'ts in the foreign exchange demo and these are useful when you get to plunge in the real foreign exchange market.
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