There are many criteria to take into account, and it is better not to make a mistake to avoid scams. We recommend the CTB broker to start with online trading.

Practice on a demo account

All online brokers offer you to test their platform in real trading conditions, but with virtual money. This is the perfect opportunity to check that the broker you have selected is right for you. In addition, this is an ideal opportunity to start testing the knowledge of market analysis you will have acquired in the previous steps. Choosing Global CTB account is important in this case.

Set up a trading strategy

Taking your first steps in trading with a demo account will first of all allow you to realize that knowing how to use graphical analysis and indicators is of little use if they are not used wisely in the part of a coherent trading plan.

A trading plan brings together the arguments you think are necessary to take a position, and the factors you will take into account in knowing when to exit. Your trading plan should also specify the time units (real time and long term) you are working on, the level of risk you accept, and so on. Popular trading strategies are swing trading and day trading.

Analyze and improve your trading method

Once your trading strategy is set up, all you have to do is implement it and measure the results. You will no doubt find at this stage that your plan can be improved by analyzing your successes and your failures. Eliminate what doesn’t work, and focus on what worked.

Open a real trading account

Once your trading method holds up and has produced convincing results on a demo account, you will need to open a live account. Indeed, one should not stay too long on demonstration accounts, because one of the difficulties of trading may well lie in managing emotions in the face of the risk of loss and the potential for gain, which does not exist in demonstration.

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