Forex is just as much about the losing trades as it is about winning ones. Being one of the most lucrative markets and all the marketing strategies companies are throwing portraits Forex as a get rich overnight scheme. In fact, if you’re starting Forex with the hope of becoming rich quick, you may want to reconsider the decision entirely because traders entering the Forex market under the pretense of earning easy money are more prone to making mistakes. Forex is not something you learn once and become a master of, if you are not making a right start or aren’t willing to stay up to date, keep learning and keep testing your knowledge you might struggle to make consistent profits. If you are a newbie to forex trading, cut short the mistakes of jumping directly to trading and learning the basics thereafter. Trading
Trading Game by Forex Illustrated is a beautiful attempt to cut short the short fallings of traditional books and trading guides by implementing a interactive environment for first time traders that want to jump start trading and knowing the risks before they invest their hard earned money into full time trading.
Rewarded for Learning:
The gamification of the app makes the leaning experience rewarding and engaging at the same time. Each section is quite descriptive with its teachings yet short with highlighted points and you have to answer a few questions before you get rewarded and move to the next section. You will not be able to skip the learning part because the developer wants to make sure you understand the basics and pass the simple quest before you try out real time trading. The app covers even some of the raw basics like line, bar and candlestick graphs and explains how they are read out and how does one need to predict trends from these minimal details.
Another upside of the Trading Game is that it teaches you with real life examples which tend to stay in memory forever as compared to bland basics.
Trade while you learn:
Its quite normal in the trading world to risk your hard earned money, but trading is all about taking risks at the same time keeping your risks to bare minimum. The Trading game teaches how social trading can be an asset to newcomers and how it is a safe bet to learn and earn without risking your investments. The Social (Copy) trading also adjusts according to your account size so copying bigger traders will not require an investment of an equal amount, rather it will proportionally distribute investments by the percentage of investments made by professional traders.
Taking a quiz besides being rewarding also gives a learning curve where you can learn from mistakes and be sure you are updated with the latest trends. There is a dedicated Quiz section which has two difficulty levels for Amateurs and professionals which asks questions ranging from basics to real life scenarios and predication of trends based on study of graphs. Each correct answer rewards you while a wrong answer brings loss in the games currency.
Now that you have learned the basics and have/ taken quizzes that have all turned out positively for you, don’t you want to try your luck in real time? Oh! slow down buddy but real time trade option in the app can let you trade in real time with the game currency to test your skills before you risk trading with real money. The game mimics most of the options of the trading platforms in its trade section giving you a hands on of real trading with real time graphs, stop losses and duration of trading.
First and foremost the inclusion of real life scenarios is what we found very appealing in the app, that not only strengthens your basic but also boosts your ability to understand the market and its consequences on different types of currencies.
Step by step schooling with bullet points that are clear and stay in the head.
List of basic rules that every successful trader should follows and a must follow list.
A dedicated section that shows the best times and days to trade based on your local time zone and optionally for other time zones you might be dealing with. This is quick and efficient way to locate yourself on the time zone map without much calculation of time difference of each country individually no matter where you are located.
A handpicked list of trading brokers with their specifications compared side by side, and this list is updated every month to keep only the most featured, reliable and budget friendly brokers in it. The Trading Game also highlights the chief points to consider before selecting a broker and why it is important to look for the regulators and directives a broker is registered with. This will help you not falling in trap of unreliable brokers which offer lucrative leverages and commissions.
The Trading Game can be enjoyed by anyone, be it for fun or learning to trade. We enjoyed the Trading Game and learned more than we expected it to teach us, special thanks to the engaging interface which keeps users through the journey of learning with accomplishments and quests that make it challenging as well.
The user interface and design is appealing to the eyes and simple to use. Though the game requires an active internet connection to download the content and graphs as and when required. Trading Game is available for free on the play store and recommended to users who wish to start their Forex trading journey or just here to learn some new and exciting facts about trading.