- This topic has 5 replies, 6 voices, and was last updated 5 years, 7 months ago by
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Personally I would advise a minimum of 3 months trading same system or strategy. Get to learn the ins and outs
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Hello there.
How long someone should take to trade using a demo account; I think this depends on some one’s/trader’s ability to get used to the platform and the level of acquiring the skill of trading. If you are a quick learner even 2_3months are good for you to start trading a real money account. But it can also take as long as 6months to a year as long as you feel you have not grasped the whole trading concept on the trading platform. More so if you have not made any consistent wins while using a demo account, I would advise you to keep practising on a demo until you can achieve consistent winning trades so that you don’t lose your real money without seeing any of the profits. Till then, practice on a demo until you feel you are ready to handle a real account.
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A spread in forex trading is simply the difference between the ask price and the bid price.The spread covers your transaction costs, brokerage costs and it is calculated using pips.
For example,if you buy EUR/GBP at 0.87473/0.87492, the difference between 0.87473 and 0.87492 is 1.9 pips which is the spread. learn more about spreads -
How are the spreads?
When you enter a trade, you will realise that your trade will start in a negative value even when it is moving in your predicted direction. Another scenario would be at the close of a trade. When you have set a target level for your trade, you will realise that some times it reaches that exact level you have set and fails to close or closes a few pips below or above the target level. why? because of spread. It closes after it has covered the spread fixed on that currency pair.
like a colleague said above, a spread is the difference between the ask price and the bid price.You can take it as a small cost you incur for holding a trade. This ranges from different currency pairs and different conditions in the market at the time you are trading. Some currency pairs have small spreads unlike the others and during release of very important economic news, spreads tend to increase. So as you trade, you can try to explore different currency pairs on a demo account. this will help you to know what to trade, when to trade and which size to use on your trade.
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