Demo can not make you well experienced

SteveHanks posted:
A demo is the best option to learn forex.

Yes. every new trader should practice on a demo.

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.

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.

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.

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.

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 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.

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.

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.

Demo trading is a necessary but not sufficient tool when learning how to trade

Correct setup of a trading system requires constant testing if you make changes. At the beginning of the trading way, you can start trading with Demo, but then you must definitely test trading on minimum deposits, and only after that, you can start trading with the main volume.
The most important thing here is to gain experience in money management and risk management, and not start earning from the first minutes of trading. The good performance of a trading system depends not only on the algorithms (even if it is an EA), but also on who is the manager. The trader must be trained and ready for a wide variety of situations.

@bridgekarate Yes demo trading is not for being experienced in trading. Demo account helps us to try our strategy and plans. We can learn how to execute our plans on demo.

That's true. It is so funny when people boast about their trading success on demo accounts. Surely, these are two different things: live account and demo account. It is not only because of psychological factors, but also because the mechanics of trading. Like, there are no slippages and delays in demo accounts, unlike the real ones. So, the overall experiences are completely different.

BalPaper posted:
That's true. It is so funny when people boast about their trading success on demo accounts. Surely, these are two different things: live account and demo account. It is not only because of psychological factors, but also because the mechanics of trading. Like, there are no slippages and delays in demo accounts, unlike the real ones. So, the overall experiences are completely different.

I think demo is the best place to learn and practice.

Definitely demo accounts are useful to get the feel of the trading world. It allows the trader to become familiar with the market and to understand the risks so that the trader can develop the skills accordingly.

@Unellene Yes demo helps us to understand how trading work. It is also the place to apply your knowledge that you have learned so far.

Demo trading is an excellent way to enhance your trading skills and strategies. However, it can’t make you a pro in trading because real trading involves emotions and requires proper risk & money management, which comes with practise and after a few trades.

Willowerno posted:
Demo trading is an excellent way to enhance your trading skills and strategies. However, it can’t make you a pro in trading because real trading involves emotions and requires proper risk & money management, which comes with practise and after a few trades.

Demo trading definitely serves a purpose but you're right in that it is not like live trading. Watching ticks go against you tests your mental strength and ability to trust in the strategy that demo cant give you. But experience is so key and that will resolve most issues like that

While it won't 100% prepare you, at the end of the day the numbers are the same on a a screen and trading with a demo account that is likely to widely differ from your live trading account size won't help. Get used to the lot sizes you will be using live. Get used to seeing the numbers on screen both for and against you. If you aren't winning on demo then why are you going live? These are all things that need to be thought about. I think the issue is a lot of people struggle being honest with themselves about their skill level when they go live.