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Taking your first steps in forex with a demo trading account

Trading currencies means mastering a skill set to help you win at the foreign exchange (forex or FX) game. Learn how to conduct fundamental and technical analysis, read the market, and use risk management tools – and you might just end the session a few pips ahead of the pack.

Trading currencies means mastering a skill set to help you win at the foreign exchange (forex or FX) game. Learn how to conduct fundamental and technical analysis, read the market, and use risk management tools – and you might just end the session a few pips ahead of the pack. 

Trades take place between counterparties based anywhere in the planet where forex isn’t banned. For most people, if you have a reliable, fast internet connection, you can be a currency trader. 

People often start trading as a side-line. But the taste of success leads many to try it as a career. The benefits are obvious: you make your own hours, you work for yourself, and if you’re good, you’ll make a tidy sum. Money and freedom with a low barrier to entry. What’s not to love?

It’s so attractive and easy to get into that many jump straight into the deep end of full-time trading without getting the experience they need. That creates avoidable risk and leads to losses. 

Forex is packed with opportunity, but you have to learn the mechanics of trading, know how to read market moves, see trends, and build a trading strategy. That way, you can go forward with a system rather than relying on instinct or otherwise winging it. 

To learn properly, you need to spend time in the classroom. In forex terms that means signing up for a demo account. Demo accounts create a simulated trading environment where you can try your hand – and fail a few times – without risking any real money. 

Demo accounts explained

Demo trading accounts are virtual broker accounts where you can try before you trade. They use real-time data to simulate the real-world conditions you’d face if you were trading live.

The demo gives you real quotes for the currency pairs you choose and provides a selection of financial instruments. It looks and acts like a real account. You can open and close positions. Score gains or suffer losses – but only in virtual funds. No actual cash is ever put at risk.

You don’t need to make a deposit or link your bank details to open a demo. The funds your trade is a sort of play money created by the site for practice purposes.

So you can’t lose, though you can’t really win either. What you can do is have a solid go and learn from your wins and losses. What did I do right, and what did I do less right? Demo accounts give you a safe setting to experiment with different trading methods and see if you can cope mentally with the emotional highs and lows of trading. 

How do you start demo trading? 

Go to almost any forex broker’s website, and you can register for a demo account within minutes. The broker will ask for some personal data. How much depends on the company and regulated jurisdiction they operate in.

Once confirmed you’ll be given amounts to ‘fund’ your account with – all virtual money. 

The majority of demo forex accounts have similar features: buying and selling currencies, quotes for currency pairs, analysis tools, news feeds, and educational resources.

You might also get basic access to a broker’s customer support. Take advantage of these freebies if they’re on offer. They’ll help you get a good sense of what the company will be like to deal with after you’ve signed on for real. 

The screen set-ups can vary somewhat, and the execution platforms might differ (MT4 OR MT5 in most cases). That’s another excellent reason to use demo accounts. Even if you’re a seasoned trader, the demo account lets you do a hands-on trial before engaging in trades with that broker.

When does the demo phase finish?  

If you’re new to forex trading, most experts agree you should look to make about fifty demo trades before moving over to live trading with real cash. You need at least that much demo time under your belt to understand the mechanics of entering an order, closing a position, or using stops and limits. 

Notch up enough virtual trades, and you’ll have a firm idea of whether forex is for you. If it’s going well, you’ll be making profitable trades regularly. Crossing the 50-order border also gives you enough time to sense check if you’re emotionally cut out for the forex life.

Currency markets can be a roller coaster, loaded with hourly highs and lows. To be successful is to be disciplined and mostly immune to the fear, greed, and crushing disappointment that can grip you if a trade goes south. That doesn’t mean you don’t feel emotions, just that you’re trading decisions won’t be unduly influenced by them. As much as possible, you need to trade cold. 

If you feel like your feelings won’t be a problem, the next milestone to pass is the ability to form a trading strategy. There are four cornerstones:

  1. Timings. Choose the same daily time slot to learn the action that characterises that session.
  2. Pairs. Decide which currency pairs you want to trade – ideally based on knowledge of what drives the economies of those markets.
  3. Risks. What tools and position limits will you use to minimise losses?
  4. Instruments: Will you trade commodities, indices, CFDs, or currencies?

Pro tip: When your four-part trading plan is ready, test it on the demo account first. That’s what seasoned traders do before attempting any new strategic approach.

Demo accounts are like forex school

There’s no better way to learn the basics of forex and test drive a forex broker’s online trading platform. Demo accounts give you a real sense of what FX trading looks and feels like. Experience all the highs and lows. And never have to put your own cash in peril.

Demo trading is virtually risk-free. Those low stakes make demo accounts the perfect environment to test your trading mettle.

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Statements about Cryptocurrency

Statements about Cryptocurrency

Cryptocurrencies are in a bubble and regulators could burst this at a whim.

  • Eight years after the introduction of Bitcoin, there are now over 900 cryptocurrencies and their prices are at all-time highs.
  • Richard Schiller categorizes bubbles as an underlying story driving the market forward, as opposed to the fundamentals of the assets. Cryptocurrencies are riding on a narrative of economic empowerment and freedom.
  • Despite the widespread attention that cryptocurrency receive, many of the actors involved in the market are not fully informed. Debate tends to turn to hype and naive investors are buying crypto-assets without fully understanding what they are.
  • Banks spend 73% of the market capitalization of Bitcoin each year on regulatory compliance. Crypto-assets are currently unregulated and free of these restrictions. As such, the market has thrived but also developed some bad habits.
  • Regulators cannot necessarily shut down cryptocurrencies, but they can restrict liquidity into them from fiat currencies and hamper their growth. The global derivatives market, for example, is worth $1.2 quadrillion, dwarfing Bitcoin’s $100 billion market cap.

Statements about Cryptocurrency

Market manipulations in crypto markets are undermining their credibility.

  • Due to low liquidity, no regulation, and a lack of clear understanding of the markets, pump and dumps are widespread in crypto markets. This is where a speculator can artificially sell while concurrently buying their own currency, wait for the market to rise, and then dump their holdings.
  • Frontrunning is also a common occurrence in ICOs, where early investors—who are used to show initial faith in the enterprise—buy discounted tokens before immediately selling them on.

As with historic bubbles, scams are exploiting naive investors.

ICOs can have the characteristics of vaporware. Entrepreneurs are raising hundred of millions of dollars purely on concepts. Money is being raised from investors who do not truly understand the technical concepts being proposed to them, let alone whether they are feasible.

  • The actual asset structures of ICOs are not only complex but also new forms of assets in their own right. This further confuses investors, which is compounded by the “FOMO” mentality of rushing into investments and following the crowd.
  • The use of celebrities to promote ICOs further demonstrates the use of manipulative marketing techniques used to cajole immature investors into participating in ICOs.
  • The current ICO craze is reminiscent of the South Sea Bubble of the 18th century, a speculatory period that involved crazed investment into enterprises in the New World. Once one of the highest valued companies of all time, the South Sea Company’s bubble burst and the company disappeared almost as quickly as it appeared.

Blockchains are still not proven technology, and more work is required.

  • Blockchains are still new concepts and their technology has not yet been proven on a consumer-wide scale. Attention should be focused on developing this, not speculating on short-termist projects.
  • The security of blockchains is a concept that most investors in crypto-assets do not understand. The onus is on them to protect their assets, which, on the basis of the amount of thefts and frauds in the space, is not being done properly.

There are some solutions to these issues.

  • A less polarized mentality of “us against the world” is needed; this could be enforced by the promotion of self-regulatory standards. These could also help to highlight the bad actors in the ecosystem.
  • More development is required into the underlying technology of blockchains. In the long run, this would be far more valuable than ICO moon-shot projects.
  • Awareness and discussion needs to be promoted. Conferences should present balanced debates from both sides of the crypto-view and more emphasis should be placed on educating investors instead of soliciting their investments.

Originally Published here at https://www.toptal.com

Statements about Cryptocurrency

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CMStrader Signals provider, the number 1 signal provider 4 years in a row

CMStrader Signals provider, the number 1 signal provider 4 years in a row.

CMStrader, the number 1 signal provider 4 years in a row, is now offering free signals to new clients!  Reliable trading tools are fundamental part of successful trading.

cmstrader for the Best Trading Signals

cmstrader for the Best Trading Signals

 

CMStrader’s signals success rate is estimated in 91% this should be enough to take a look and decide for yourself. since this is their biggest feature and drives this broker towards success, it is opretty afe to say that they do their utmost to provide you with quality forex signals.

This broker also entered the cryptocurrency market and offers several cryptocurrencies.  in short they act on the market and engage their clients directly.

when you start trading at CMSTrader, you can choose from a extended list of currencies, indices, commodities, gold and oil.

CMStrader Signals for better Trading

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included.

CMStrader Signals the number 1 signal provider among brokers

CMStrader Signals the number 1 signal provider among brokers

The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals.

In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone.  This service is available 24/5.

Like with Most proper signal services don’t expect 50 signals a day as simply there are not that many. you will get maybe a few good ones a day on which you could and most of the time should act.

Earn profits with CMStrader Signals in the forex market – the biggest trading scene in the world. Enjoy our unique benefits, trading education, minimum margin and best leverage! Start with a demo account and enter the amazing world of forex with CMStrader.

More about CMStrader Signals & Forex Broker

  • Name :CMSTrader
  • Website :cmstrader.com
  • Established :2013
  • Regulation :FSP
  • Country :United Kingdom
  • U.S. Clients Allowed ?  :No

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a somewhat a newcomer to the Forex market.

they started in 2013 and since then have won several awards 2 including one for having best customer service in 2013.

CMSTrader “CMStrader Signals” is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).

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Supreme Court Sides With Bits of Gold in Bank Dispute

Supreme Court Sides With Bitcoin Broker “Bits of Gold” in Israeli Bank Dispute

Upon appeal, the Israeli Supreme Court has rejected the closure of Bits of Gold’s banking facilities at Leumi bank, Tel Aviv.

The Israeli cryptocurrency brokerage’s appeal followed a previous ruling against it that has now been set aside by the higher court.

As Israel and many other countries struggle with the accelerated phenomenon of virtual currencies, Leumi Bank recently made the news for being a particularly blunt in its rejection of Bitcoin.

We should of course not be surprised with the banks attitude towards bitcoin or any other cryptocurrency for that matter. keep in mind that the banks become more and more obsolete because of them. Bits of gold versus leumi

They will keep on loosing money which now they make with ridiculous commissions of work that is fully automated. so they will try to see how they are able to make the operation and acquiring cryptos  as hard as possible knowing that they will never be able to stop them.

There is widespread anticipation that the upcoming G20 Summit in March 2018 will produce a global, moderate framework for a regulatory approach. Set against that are persistent hostile stances the world over from banks, asset managers and even governments towards cryptocurrencies.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane. 

Apart from the Israeli revenue service opting to tax cryptocurrency assets as “properties” and other more positive developments dating back to mid-2017, Israel remains a strange mix of genteel acceptance alongside wildly opposing voices.

There is thus Hope But no decision

Bits of Gold has fought a David and Goliath battle since their banker decided it wanted to steer clear of all cryptocurrency-related business.

On record as recently telling another bitcoin-related trader that they simply don’t want the business, Leumi Bank’s hard-line stance is accumulating bad press. The second-largest bank in Israel appears as discriminatory when analyzing virtual currency traders and other digital coin businesses.

During 2017, a customer made a bank transfer to the Kraken exchange site for buying bitcoin worth $1000. The bank identified the request, halted it, and started investigating.

The elated CEO of Bits of Gold, Youval Rouach said that “The court’s decision enables us to focus on the growth of the Israeli cryptocurrency community.”

 

The February 26 Supreme Court ruling granted Bits of Gold a temporary injunction against their account closure pending further scrutiny by the bank and other parties. The presiding bench declared that the company had “acted transparently and did not violate any provision of law.”

Calling the bank’s concerns “speculative” and turning an unsympathetic ear to the plaintiff, the ruling does, however, allow for the bank to still close the account on any small technical detail that defies legislation. As a record of a public spat around cryptocurrency’s right to be recognized in many ways, the ruling is seen as a victory for the local cryptocurrency community.

One Small Step Forward

Although not as absolute as nations like China that has opted for draconian bans, Israel is a front line for digital coins’ right not just to exist, but also become assets in the true sense of the word. The Supreme Court noted in its written ruling that Bits of Gold had not made itself guilty of the violation of any standing laws since opening its doors for business.

 

The Bits of Gold v. Leumi Bank case might become something of a test case once the bank applies its mind in scrutinizing the company’s accounts against the backdrop of existing legislation. The outcome will also be informed by sentiment post the G20 Summit due in March as well as other global regulatory trends.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane.

This was First Published by coindesk

 

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