Have you wondered how you can get better at trading faster? I think that simulated forex trading is one of the best methods and I will use a sports analogy to explain why. Even if you did not play sports, there is probably something you did or didn’t do in your life that relates to the brief story I will tell.
One of the most important things in improving in anything is gaining confidence, in particular gaining confidence under fire. Many of the people who read this website know that I grew up playing sports. When I was born, my dad was a coach and he loved basketball. I grew to love the sport as well and began playing at a very young age.
What does this have to do with Forex trading? Well, on the first day of summer and older friend and graduating senior stopped by my house where I was practicing and in 30 minutes showed me the fundamentals of a good jump shot. At that point I had been wondering how to shoot and what to practice all summer and how. The 30 minutes he spent with me, changed my life in terms of basketball. I began to shoot jump shots everyday and recorded them in a spiral notebook. I shot 1000 jump shots 6 days a week during the summer and more on Sunday when my mom let me.
I figured my friends may have shot a total of 200 practice shots in the summer. Most kids don’t really spend their time practicing a sport. But maybe, there was one player that might have spent enough time on the court to shoot 1000 shots for the summer. I was shooting 1000 plus 500 free throws 6 days a week, 6 times more than he was.
With about 3 months of summer that was about 10 weeks or 60 days or 60,000 shots. I was taking more practice shots in one summer than some high school players took during a whole career of games and practice. This practice put me much further ahead in terms of “practice years” of the other players and I ended up leading the league part of the next season in per game scoring average.
You can do the same thing with Forex. There are simulated Forex trading programs that you can purchase for a small amount of money, load in real data, and practice your technique.
If you are looking for a way to improve your trading, try a Forex trading simulator. I think you will see yourself gaining confidence and improving your bottom line if you do.