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Demo can not make you well experienced

Sep 29, 2020 at 14:34
6,890 Views
191 Replies
Member Since Oct 01, 2020   37 posts
Dec 10, 2020 at 12:05
I suppose demo accounts are equally important for experienced traders too, for testing new strategies. It is the only way to evolve as a trader.
Member Since Oct 05, 2020   65 posts
Dec 10, 2020 at 13:20
If demo account environment is similar to live one like I found with exness and fxview then they are only good.
Member Since Feb 14, 2020   10 posts
Dec 10, 2020 at 13:23
My demo account helped me a lot. Because this was my first acquaintance with trading. If I didn't have a demo account, I would lose my money very quickly. So it was very useful to me.
Member Since Nov 06, 2020   24 posts
Dec 11, 2020 at 13:24
You can try XM or Fxview, both offer 0 spreads on ECN.
Member Since Jun 08, 2020   44 posts
Dec 11, 2020 at 17:13
The demo account helps beginner traders to practice and prepare an idea about how the live trading will be, but only by trading in demo one cannot be profitable in forex.

The demo is to understand how the live market works, so risking a bit in live trading will help in improving skills and strategies.
forex_trader_1976864
Member Since Oct 09, 2020   2 posts
Dec 11, 2020 at 17:46
I have a few demo accounts with my broker, a demo account for me is essential, this is my first rule of thumb, before I place any trades, once I get a signal from either my daily chart or 4hr, I open a small position on my demo account first to test if I am wright or wrong, I watch the market if the test makes money I place my trades, that is how I use a demo account. I am a position trader always looking for medium trends. 😎
Member Since Aug 11, 2017   886 posts
Dec 13, 2020 at 03:30
We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.
Member Since Jul 23, 2020   869 posts
Dec 17, 2020 at 17:36
Demo can help you to know about platform and trading. You can avoid simple mistake from demo practice. However, to become well experienced, you need live trading.
Member Since Jul 23, 2020   759 posts
Dec 18, 2020 at 17:32
joeyallen posted:
I have a few demo accounts with my broker, a demo account for me is essential, this is my first rule of thumb, before I place any trades, once I get a signal from either my daily chart or 4hr, I open a small position on my demo account first to test if I am wright or wrong, I watch the market if the test makes money I place my trades, that is how I use a demo account. I am a position trader always looking for medium trends. 😎
Right decision. On the other hand, demo account helps you to test brokers’ quality.
Member Since Mar 17, 2021   536 posts
Jul 08, 2021 at 13:35
A demo is the best option to learn forex.
Member Since Apr 24, 2016   16 posts
Jul 08, 2021 at 18:05
it can ..... it is the only experience without lose .... it can make better
ridarida1158@
Member Since Sep 26, 2019   23 posts
Aug 04, 2021 at 17:06
Of course, I totally agree that demo can't make you well experienced mostly because demo was created not for these purposes. Demo account was created for testing, editing trading strategies and for acquaintance with trading activity as itself. I suppose that demo is a very useful instrument for those who face trading activity for the very firsty time. If you want to evaluate and understand the mechanics of the market then you should apply to demo account. It never gives you lots of experience however it teaches you how to trade. You don't feel such emotions which you can feel on a real account when you trade demo, you know.
Member Since Mar 28, 2021   617 posts
Aug 04, 2021 at 18:00
Yes demo trading can not make us well experienced. But it can help us to test our strategy to find out the odds before using the strategy on live account.
Member Since Aug 05, 2021   401 posts
Aug 05, 2021 at 15:09
Good point.
I do think that demo accounts are one of the best hands on tools that traders can access. It really helps one to gain an understanding and idea of how trading works, test strategies, learn the mechanics of trading and so on.
Still, demo accounts can’t prepare you for the roller coaster of emotions that come with real trading. Fear and anxiety or depression over losses is real.
One of the best tips I’ve found to help take demo losses more seriously is to give yourself real life consequences and rewards so that you do feel something when you gain or lose. For example, treat yourself to your favorite dinner at the end of the week if you profit, or make yourself do x amount of push-ups instead if you lose money.
In the end, I do think everyone should still start with a demo and it helps to be aware of the difference in emotion so as not to be blindsided when going live.
Member Since May 27, 2021   64 posts
Aug 05, 2021 at 17:36
HeavLeighGill26 posted:
Good point.
I do think that demo accounts are one of the best hands on tools that traders can access. It really helps one to gain an understanding and idea of how trading works, test strategies, learn the mechanics of trading and so on.
Still, demo accounts can’t prepare you for the roller coaster of emotions that come with real trading. Fear and anxiety or depression over losses is real.
One of the best tips I’ve found to help take demo losses more seriously is to give yourself real life consequences and rewards so that you do feel something when you gain or lose. For example, treat yourself to your favorite dinner at the end of the week if you profit, or make yourself do x amount of push-ups instead if you lose money.
In the end, I do think everyone should still start with a demo and it helps to be aware of the difference in emotion so as not to be blindsided when going live.
'Demo accounts can’t prepare you for the roller coaster of emotions that come with real trading. Fear and anxiety or depression over losses is real.' Couldn't agree more on this buddy! Emotions are something which can either make your trades or ruin them.
Member Since Apr 03, 2021   470 posts
Aug 05, 2021 at 23:36
Yes, of course, a demo account always becomes a good place to start learning for all beginners, practice in the demo account is one way to minimize the risk due unknowledgeable, although not involved emotion in the demo but actually good to learn how to manage money in uncertainty market condition, done backtest any trading system etc
Member Since Jan 04, 2021   12 posts
Aug 25, 2021 at 19:37
I guess that those traders who claim that trading on demo account can somehow make you well experienced should never advice novices how to start off in trading activity wisely. Everything because demo account gives you nothing but the common understanding about trading activity. Also, it give you an opportunity to test, edit or create your trading strategy which you will use on a real account. Never rely on demo account and never think that you can trade there all the time. Once you won't notice how you started to be afraid of real account because you're afraid of losses. I advice traders not to stay on demo more than couple of months.
Member Since Apr 03, 2021   470 posts
Aug 25, 2021 at 21:43
Demo account remain useful, a trader can learn free in a demo account, test trading strategy before implemented in the real trading account, there are so many seller trading software only use a demo account to convincing their customers.
Member Since Jul 19, 2020   788 posts
Aug 26, 2021 at 01:47
FXOday posted:
Yes, of course, a demo account always becomes a good place to start learning for all beginners, practice in the demo account is one way to minimize the risk due unknowledgeable, although not involved emotion in the demo but actually good to learn how to manage money in uncertainty market condition, done backtest any trading system etc
I also agree with you, you need to use the demo platform to minimize the risk. And the demo platform helps a lot to control emotions.
Member Since Aug 26, 2021   9 posts
Aug 26, 2021 at 10:24
Demo trading is a necessary but not sufficient tool when learning how to trade
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