Do you ever watch world markets or perhaps individual stocks and think to yourself, “I just knew that was going to happen”?
If you do – then there’s a great way to put your instinct to the test as a virtual trader. These days, you can trade just about any world market from commodity prices to individual stocks, indices and, the other of them all – foreign exchange markets.
The foreign exchange market is easily the biggest market on the planet in terms of the volume of trading. It’s virtually limitless.
Now if all this kind of thing is completely new to you – don’t worry. There’s a whole world of information out there. In fact, there’s simply too much. So read what you can but you don’t need to delay giving it a try. That’s because you can try all this out for free without putting a single cent of your own cash at risk.
With the Tradefair site and some other trading platforms, it’s possible to test your knowledge and instinct for trading in demo mode only. Try it – it’s pure fun. You can trade over 3,200 different world markets in different ways including spread betting, or through a CFD at Tradefair – or even trading via your mobile.
As you get to test out your trading in risk-free environment, you’ll get to understand how the site’s trading platforms work and you’ll steadily build up your knowledge of different markets – or maybe even one market if you decide to try and specialize.
This gives you a chance to put that “I told you so” that so many of us think we have to the test without losing anything. And to paraphrase the greatest investor of them all, the sage of Omaha himself, Warren Buffett, you’re going to need to be a little contrarian – being greedy when other people are fearful and vice-versa to make real money at this game. And many people do achieve exactly that. But it isn’t that easy or we’d all be doing it right!?
So try out different strategies and see if you have what it takes to trade your way to a virtual fortune. And while you’re doing this – really try to treat is as if it’s real money. Then – if you do find you have the knack, you might decide to start introducing some real money little by little whilst using various strategies to limit our exposure. Just get used to all this in virtual mode only at first – and have fun.
You can even establish different accounts to try out your success or otherwise in different areas of trading. Then, if you find you like one better than another – or you’re more successful in this area, you may decide to delve deeper in his area, developing ever-greater expertise.
And if it doesn’t work out – at least you’ll have learned something new and had a lot of fun on the way.
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