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Demo can not make you well experienced

Markwoods
Dec 17 2020 at 10:29
26 posts
shaunmarsh posted:
If demo account environment is similar to live one like I found with exness and fxview then they are only good.
Aren’t the spreads in fxview’s demo always 0? In live ecn they are not fixed at 0
Mate (Mate_)
Dec 17 2020 at 10:33
11 posts
A demo account is a must-have for learning to trade. It is needed to get the first trading experience, to get acquainted with trading instruments. It also has the ability to test new systems or trading methods without loss.
Darrensmith
Dec 17 2020 at 12:36
37 posts
Markwoods posted:
shaunmarsh posted:
If demo account environment is similar to live one like I found with exness and fxview then they are only good.
Aren’t the spreads in fxview’s demo always 0? In live ecn they are not fixed at 0
That was not the case when I was trading on their demo account. And with live account of fxview the spreads are always low. I have other accounts also and on comparison I have come to this conclusion.
LyudmilLukanov
Dec 17 2020 at 17:36
796 posts
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.
SofieAndreasen
Dec 18 2020 at 17:32
759 posts
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.
SteveHanks
Jul 08 2021 at 13:35
536 posts
A demo is the best option to learn forex.
rida rida (ridarida)
Jul 08 2021 at 18:05
16 posts
it can ..... it is the only experience without lose .... it can make better
Tremblay
Jul 09 2021 at 08:43
330 posts
SteveHanks posted:
A demo is the best option to learn forex.
Yes. every new trader should practice on a demo.
Oghmage
Aug 04 2021 at 17:06
23 posts
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.
Akasuki
Aug 04 2021 at 18:00
512 posts
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.
Cooper078
Aug 05 2021 at 13:18
36 posts
A demo account indeed can't only make you well experienced. It is also important to trade live for proper exposure to the forex market and to build various skills or strategies.
HeavenLeighGill (HeavLeighGill26)
Aug 05 2021 at 15:09
255 posts
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.
Alexthetrader
Aug 05 2021 at 17:36
64 posts
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.
Suradi (FXOday)
Aug 05 2021 at 23:36
305 posts
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
WaltonCharles
Aug 06 2021 at 12:36
144 posts
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
A demo is the best way to practice.
Protodonk
Aug 25 2021 at 19:37
10 posts
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.
Suradi (FXOday)
Aug 25 2021 at 21:43
305 posts
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.
AliaDare
Aug 26 2021 at 01:47
788 posts
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.
bridgekarate
Aug 26 2021 at 10:24
9 posts
Demo trading is a necessary but not sufficient tool when learning how to trade
Marcel Durham (MarcellusLux)
Aug 26 2021 at 10:51
148 posts
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.
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