Spread Co offer demo accounts where you can try out the trading platform, work out different strategies and get the hang of everything before risking real money. The last thing you want to do is lose any of your hard-earned risk capital learning something new. Make sure you get the best out of your demo account: it is fine to dive in and out of different markets while you get the hang of the platform, but after that treat the demo as a real money account. In other words, consider the fundamentals and technical set-up before you place a “dummy” trade and take the time to learn how to use stops and limits. Once you’re ready to move on to the real money account make sure you start small, and build your confidence slowly. The learning curve takes time and perseverance. But if you manage to follow some simple advice, you will quickly build a strong base from which to grow your account once the knowledge and experience kick in. To begin with, it is worth focusing on just a couple of currency pairs rather than a large number. Also, concentrate on the most liquid currencies first, such as the EURUSD, GBPUSD and USDJPY. This is so you can build up your knowledge about how the major currencies react to news flow, economic data releases and technical trading levels. You also need to create a trading plan which will include strict money and risk management rules. It is this that is the key to maintaining a long and profitable trading career. It’s important to remember that even the very best traders don’t win every time. So they make sure that when they do suffer a loss (or even a string of losses) they still have sufficient risk capital to carry on trading. They achieve this through disciplined money management. In its simplest form this means dividing up your trading capital into smaller parcels. Then you only risk a proportion of your funds on any one trade. How you divide up your risk capital is up to you. But it will depend to a large extent on the size of your trading fund. Some professionals say you should risk no more than 1% on any one trade. Others say it can be up to 5% or even 10%. Obviously, the lower the percentage, the more trades you’ll be able to place. However, if you only have a small amount of risk capital then there are likely to be many trades that you shouldn’t do once you factor in the minimum bet size and your stop loss.