How to Use a Futures Trading Demo Account to Buy and Sell Assets

Since futures trading involves a lot of complexity and risk, most platforms now offer demo accounts. You can try methods on them without having to lose actual money. Here is a step-by-step tutorial on using a Futures Trading Demo Account for buying and selling assets.

1. Open a Demo Account.

Select a good online trading website through which a demo account for futures trading is provided. Register and verify yourself, if necessary. Most of them would have already credited some virtual money to get you rolling.

2. Get Comfortable With the Platform

Take a moment and review the screen layout. The jobs to search for, not including but not limited to, are the following:

1) Lists of assets.

2) Types of orders.

3) Charts and analytics tools.

4) Balances and account placements.

3. Choose a Commodity

You want to open some certain future trade. Common variants include:

1) Commodities, such as gold and oil.

2) Currencies.

3) Stock indexes.

4. Take a Closer Look at the Market

Look into price movements, volumes of trade, and whatever other information you might need on your selected asset by means of chart functionality on this platform.

5. Open a Buy Trade

To open the long position, predict the asset price increase:

1) Choose the asset.

2) Click the "Buy" or "Long" button.

3) Set the amount you settled.

4) Choose your order type: limit, market, etc.

5) You can add parameters for the stop of profit or loss.

6) Press to display your position. 

6. Place a Sell Request

If you are fairly certain that it is going to go down, do the following in order to close your long and create a short position:

1) Turn on the device.

2) Click to toggle "Short" or "Sell".

3) Compose the sum amount that was agreed upon.

4) Choose the order type you would like to make.

5) Add more instructions.

6) Make requests.

7. Keep an Eye on Your Positions

Keep an eye on your account balance, profit/loss, and open positions. With the help of this data, you can take timely decisions based on whether to close down your existing positions or open new ones.

8. Give up Your Jobs

To close a deal:

1. Select open position.

2. Select the reverse activity purchase to close a short selling to close a long.

3. Enter the quantity you wish to close.

4. Place the trade.

9. Review and Learn

From time to time, go back and analyze your Best Platform for Trading Futures. Go through your winner and loser trades to further hone your skills.

Even though demo trading carries absolutely no risk, it is all the same important that you approach it as if the money were real. This will help you forge good habits for when you eventually go live.