I have experience trading about eight years more, but still stick to use trading platform Metatrader 4, this is a very popular platform, although now in my broker already available Metatrader 5 and Ticktrader, I like to use MT4 trading platform.
demo is crucial. I started demo like 4 months on hotforex and still managed to blow an account a couple of weeks after, small amounts but we learn from it. its like having an extra life line lol
If you are new in forex trading, then i suggest you, first practice with demo trading account. Because, demo account is look like a real account. But for practice demo account is the best in forex trading. Actually its not any limit that, you should watch 5 pairs or 6 pairs. Just you need to know the proper knowledge about that pairs, which you want to trade. such as, you have to analysis fundamental, technical site of that pairs. But, i think for newbie, the best way is, practice with demo account first.
I am still a beginner but I can understand what you are discussing here. They are indeed helpful tips for a trader. A demo account should not be underestimated as after all it can teach you and help you understand the intricacies of training. The second point I would like to mention is to 60 sec trades for example. I personally do not like them at all as the short time frame prevents you from making proper decisions in my opinion. I prefer to think things out.
And how much time should we spend on demo? It took me two days to get up to speed with all functionality at Hotforex demo so I guess demo benefits are overstated
You just need to stay calm and educate yourself. Try to make a schedule rather than rushing, even if you can devote a few hours daily, you will start to understand the functioning of the markets and will be able to understand the charts.
This is only the start of the demo account's utility. I agree that it should take only 1-2 days to become familiar with the platform, order types, chart preferences etc. and 1-2 days to become comfortable with a beginner's strategy. And a beginner should only be using a text-book strategy, not something they are building from the ground up, testing and proving as they go.
newcomers always looking for a trading Mentor for bring good result , what you think guys this approach is okay or not.
the newcomers always fall a great trouble when choosing a broker , because most of the brokers in online are found to be scams. its really a major problem right now.
I will say this approach is not correct as a lot of spammers are sitting over the internet who misguides new traders and often deceive them. A new trader must build up some basic knowledge by himself and should learn advanced thing from a mentor.