Demo (virtual) Trading using Economic Calendar.

Before We start trading the demo from this week, using the Economic Calender, I need to advice  you to follow what I shall be asking you to do.

1. Make sure you have received the $5000 virtual money for your demo.

If you haven't downloaded the METATRADER 4 platform, do so now  at Apple store or google apps depending on your smartphone.

2. If you have made your platform download and you haven't been credited with $5000 for the demo trade:

Click on the METATRADER 4 Icon in your smartphone,

Then choose and then click
An anonymous account will be opened for you without registration"

An Account with $5000 will be open for you bearing Metatrader 4 and not your name.

We shall later open a demo account together bearing your name and you shall make choice of how much virtual money you need for the demo practice after this onen

3. With the information above we shall be ready for the practice of demo Forex Trading. Congratulation!

4. Now go to the economic calendar again at:

☆ At the up left side, Change the GMT -4 to be GMT+1 (West Central Africa) i.e Nigeria Timing for Nigerians.

☆ See the date of Tuesday, September 13, 2016.

Time: 10.00 (am)
Currency: EUR
Strenth: ×××
Economy: Germany ZEW Economic Sentiment (Sep).
SPECULATION: 2.5 from 0.5

Using The Economic Calender To make Profit:

So on Tuesday, this week we shall trade the Forex together based on this economic calendar by 10am.

 We Trade EURUSD with a SPECULATION that the price of Euro will increase against United State dollar. The 2.5 forecast, is an increase from previous 0.5 german economy.

Increase means BUY, while Decrease means SELL.

So immediately it is 10 am, I shall click BUY to make Profit and I will Click Stop when I might have made some profit.

The *** sign, means that profit is certain when I BUY.

This is the primary Idea in Forex Trade.

Note that sometime if a trader becomes greedy without taking the profit in time, after sometime, it might become a loss, when another economy comes to play.

Questions and Observations are kindly welcomed.

Next Topic: Demo (virtual) trading using Economic Calendar 2

Subtopic: Did We made Profit from Tuesday 10am Trade?

No comments:

Post a Comment