Simulated
Currency Trading
Simulated currency
trading is the best way for day traders and investors alike to practice
trading currencies without risking any capital. Consequently, paper
trading with an actual currency trading simulation is crucial if
a trader wants to achieve long-term success. The amount of time
that a trader should practice on the simulator depends on the trader's
previous trading expertise (We
provide the trader with a free 30-day test drive of our online trading
platform - we also provide new accounts with free
training).
It is important
that a currency trading simulator provide lifelike results. In other
words, a prospective currency trader should make sure that the functionality,
prices, and executions of the simulator approximate real life trading
as much as possible. For the trading simulation to be a valuable
experience, it should allow the trader to execute practice trades
(also known as paper trades) at prevailing market prices using real
time, streaming data.
Our simulated
currency trading software exceeds all the requirements of a good
online trading simulator. Before risking any capital, a potential
currency day trader or swing trader can sign up for a 30-day demo
of our trading platform, which provides single click executions,
streaming currency charts, advanced
technical analysis studies, news, and many more features. The free
trading system is also completely configurable. Below is a snapshot
of the online currency trading platform.
The snap shot
above shows a typical way that the trading system can be configured
on one trading monitor. On the top left hand side there is a currency
quote board with 2 mayor currency pairs displayed (the Euro
versus the U.S. Dollar and the Dollar versus the Japanese Yen -
this can be completely configured). By pressing "Sell"
or "Buy," traders can enter orders with a single click.
The first dealing box shows a current bid of 1.0931 for the EUR/USD
and an ask price of 1.0935. On the lower left-hand corner is a streaming,
real time candlestick chart of the Dollar against the Yen. The chart
shown uses daily bars and shows a current price of 118.77 Japanese
Yen per U.S. Dollar (intraday charts of different periods as well
as weekly and monthly charts can be also used). A large number of
technical analysis studies can be performed on the currency
chart. The window on the upper right hand corner shows the current
bid and ask prices for the currencies in the platform, as well as
the corresponding high and low prices and the time of the last transaction.
The section labeled "Margin Analysis" is part of the "Deal
Analysis" tab. It provides access in real time to the account
balance and P&L. The section to the right of this one provides
detailed information about every order that is placed or executed
(for more information on currency
trading orders, click here). The "Deal Blotter" section
(lower right-hand corner) shows the information on open positions
as well as trades that have been closed.
Even if you
are an experienced stock day trader that wants to start currency
day trading, you will benefit from using our online simulated currency
software. See how good you are trading currencies online. Sign up
for a free 30-day trial of the trading platform. If you have any
questions about simulated currency trading or any other of our trading
services, don't hesitate to contact
Currency Trading USA.
To
sign up for a live 30-day free currency trading demo, click here...
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