Nov 26 2020 at 06:37
I completely agree with the fact that demo trading can make a lot of difference in how you see the market.
But I think demo will help you to understand how market works. And then you may becom experienced on real:) Difficult path...
Nov 30 2020 at 09:41
For learning forex, demo accounts are the best option you have. You can test any strategy on your demo account to find if it works for you.
Use a demo account, it will always be useful for you, will it always hand you over
Dec 01 2020 at 06:23
Mitchelmarss posted:Especially new traders are most need demo account. However, trader lack emotion in demo trading.
For learning forex, demo accounts are the best option you have. You can test any strategy on your demo account to find if it works for you.
A demo account needs a leash in order to get an initial idea of what trading is. Understand the capabilities of the trading platform. And real knowledge and experience can only be gained by trading real money.
A Demo account is the best option for practising; you can practically test yourself in a demo account. But it can not give a complete learning procedure until one enters into live trading.
Dec 10 2020 at 04:12
UweMoench posted:
Demo can not make you well experienced. No matter how much profit you make with demo. The real test begins when you start to trade with real money. When you trade with real money you get emotionally attached to it. When we are attached to anything, we tend to make mistakes. Demo can only help you to know the trading platform and test your strategy.
There are a couple of points which need to be taken care of when you are trading on demo.
1. Demo Helps you to practice basics.
2. Demo lets your learn without the fear of losing
3. Execution time in demo is much better in comparison to live (be it any broker, the execution time in live and demo will always vary.)
If you trade on demo with the above mentioned points in your mind, you will realize that one can clearly not call themselves a good trader and gain 100% confidence on live trading.
Firstly, in the live account your capital is always at risk so you would need to be very careful and place trades after proper analysis as their is hardly any scope for luck (which we generally get on demo when we just randomly place any trade :P)
Secondly, you might not get the best or instant price while live trading, the execution time might overlook your entry price and chop your profits.
Thus, its a fact that demo cannot make you a pro but it can surely help you to start to become a pro.
The more your practice, the more you learn.
SofieAndreasen posted:Mitchelmarss posted:Especially new traders are most need demo account. However, trader lack emotion in demo trading.
For learning forex, demo accounts are the best option you have. You can test any strategy on your demo account to find if it works for you.
That is the only issue with demo accounts: lack of emotions.
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.
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.
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.
Akos53435627 posted:Indeed demo trading has been very helpful for all of us. No beginner should start forex trading without practicing on demo account.
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.
Dec 11 2020 at 07:48
Any recommendations. Would be nice if you would have personally used them. Thanks.
Dec 11 2020 at 11:16
Pepperstone
You can try XM or Fxview, both offer 0 spreads on ECN.
Dec 11 2020 at 17:10
shaunmarsh posted:I think almost all broker provide live price action in demo account.
If demo account environment is similar to live one like I found with exness and fxview then they are only good.
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.
The demo is to understand how the live market works, so risking a bit in live trading will help in improving skills and strategies.
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. 😎
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.
