Along with that there are brokers who might not offer their real time trading platform for practicing. How worthwhile would it be to invest time learning and then adjust to a new platform for live trading?
Just place it below support and above resistance and the problem is solved I guess. But after all it should depend on your ability to identify S/R correctly.
What surprised me was that my broker executed the stop loss orders perfectly, still there was a lot of slippage while live trading.
How about leaving aside this discussion about whether or not to opt for a demo account, I’d suggest you to open micro accounts from a reliable forex broker like fp markets, fxview, tastyworks, etrade with just a small amount. This way you’ll be able to test the waters for yourself.
Been doing that and I didn’t have to put in a lot of funds at risk while testing the strategies in a live trading environment.
Tried sketching out the lines manually but wasn’t good at it. Is there any tool that makes this part a bit easy?
I’ve been using this indicator Gravity with fxview and tastyworks lately. It highlights the support and resistance areas based on their strength that’s calculated based on the historical price action. The darker the area, stronger is the support and vice versa.
Anyone can trade with micro accounts right? But my brokers don’t allow it. Is it strange and should I look for another broker?