The first steps in trading. How to start
Today I will tell you about the methods of practice in trading that I know. I charge each method. The more of them, the more effective the method, in my opinion.
TRADING ON PAPER.
The old method is when you watch the quotes and write down on a piece of paper the price of your entry, stop order, take profit, exit from the transaction. Maximally separated practice from market realities.
TRADING ON A DEMO ACCOUNT.
There is nothing much to explain here, everyone understands perfectly well how it works. The practice is as close as possible to market conditions, but the complete absence of an emotional component makes this method, in my opinion, quite ineffective. Although for mastering the interface of the trading platform, it is definitely better than trading on paper.
An advanced version of the Trading View platform can help us with this. It has a function of rewinding the history of the graph and playing it in accelerated mode. A great option for working out a trading system and mastering the behavior of the market. In just a couple of hours of such practice, you can trade off several months of asset movement. Let there be no emotions, but definitely respect for the opportunity to cover as many market situations as possible.
TRADING ON A REAL ACCOUNT WITH A REDUCED VOLUME.
In my trading, I risk a maximum of 1% of the deposit. I advise my students, instead of any demo account, to open a real account, deposit real funds and trade in minimal volumes. I think this is the best method for practice.
You are mastering the trading platform and the functionality of the exchange.
You are in a moment with the market, observing the current situation, participating in real trading.
You learn how to manage your deposit, calculate the volume and place stop orders/take profits.
Since trading takes place on a real account, there is a moment of emotional tension, which helps a lot to get used to market realities.
You can check out the full list of brokers to bypass.