Demo accounts are being broadly used nowadays throughout the Forex industry. They're popular because they're easy to use and often free. Typically, when you partner with a brokerage company, you will receive a demo account already active and ready to go. I always suggest finding a demo account through a brokerage company so you can have access to trading education, advice and guidance.
Previously, one thing we looked at was Picking a Favorite Market to Trade. When you are looking at trading, there are a lot of things to consider and one of them is what you are going to trade. A lot of traders have a currency or pair that they identify with. Shawn Lucas, for example, is a EUR/USD trader. This is actually the pair that most traders connect with in the world. Looking at the pairs everyone trades, including the EUR/USD, there are lesser known pairs that don’t get attention but are still great for trading. So, here are a few different currency pairs that can be tried in trading.
Day trading often has a bad reputation due to the pattern day trading rule primarily seen in stocks. This rule makes it so that traders cannot open and close a trade more than four times in a five day period if the account is margined. This rule can be circumvented if you have an account size over 25K, or if you trade in a different market like FOREX. So, since most people reading this are trading FOREX or looking to get into the currency market, here, Apiary Fund will review a few day trading tips to get you along while trading in the currency markets.