Practice in a demo account
Leverage is a good thing in the forex market. However, it also exposes high risk. So, first of all, traders have to practice in a demo account to adjust their leverage ratio. My broker Eurotrader also brokers offer higher leverage in the forex market. But I still often use 1: 100 leverage, otherwise, it may make me greedy.
Emotion can cause great problem in trading. Because taking decision emotionally can lead the trade into the loss. Technical decision is far better than emotional decision. I don't give importance to emotion while I trade. My broker TP Global FX is also help me to take decision technically. It prevents me from taking decision emotionally. I like them because of their low spreads, dynamic leverage and easy decision making tools.
Demo trading is just to know how the trading mechanism works. How to open and close a trade. How to use MT4 for trading. But the real learning begins when you start to trade with real money. Trading with real money involves emotions that cause most of the mistake. You can also use demo to test your trading strategy. A low probability strategy can give you profit if you have a strong trading mind set. I am trading with Eurotrader broker as it is a regulated broker. I like their trading platform. It is an amazing platform with no requote.
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