To use chat, please login.
Back to contacts

Demo can not make you well experienced

Sep 29, 2020 at 14:34
6,938 Views
191 Replies
Member Since Oct 29, 2020   21 posts
May 06, 2022 at 06:37
Yes, demo trading can not make you perfect in trading. No doubt you learn a lot about trading and acquire various skills while trading on a demo account but most traders use it to backtest their strategy.
Member Since Mar 17, 2022   47 posts
May 12, 2022 at 06:12
Demo account is the best place for practice and experience trading. In the demo account, we get access to a real forex trading platform for practising our strategies and there’s a zero chance of losing money on it. It will boost our experience and decision making skills.
Member Since Sep 07, 2020   63 posts
May 13, 2022 at 03:57
I strongly disagree. I believe that demo trading exists solely to assist you to refine your methods or backtest your strategies, given that you are not spending money in your demo trading. When compared to live, one thing you will not be able to feel is emotions when placing an order.
Member Since May 13, 2022   22 posts
May 23, 2022 at 10:28
That is incorrect. The demo account is an excellent area to practice trading and gain experience. It is perhaps the most valuable aspect of forex trading because it allows you to study and acquire expertise without risking any real money.
Member Since May 11, 2020   21 posts
May 28, 2022 at 20:50
demo account doesn't have such a function - to make traders well experienced, but i can agree that there are bunch of traders who think otherwise. they believe that demo trading will help them to gain as much as experience as other traders receive on real accounts... nah, it doesn't work like that. probably, you will just find the comfort level for you and the days fly and it will be so difficult to relocate on a real account that finally it will lead to the only exit - exit from trading.

hence, i am convinced that the necessity of demo trading shouldn't be overestimated like you will be as skilful as professional traders due to demo. it is just an instrument, no more. traders have to consider demo accounts as the bridge to the world of trading, the only way is to pass this bridge and that's it.
Member Since Apr 02, 2020   39 posts
May 31, 2022 at 09:06
Demo trading alone cannot make you well experienced, which is why it is important to also trade with a real account to gain live trading experience and also familiarise with the brokers' platforms.
Member Since May 18, 2022   24 posts
May 31, 2022 at 10:45
The purpose of opening and using a demo account is to get the newbie trader acquainted with the market. In the process of learning about forex trading, when the beginner uses a demo account, he can detect any shortcoming in trading plans, perform market analysis, and develop risk management plans. Hence, a forex demo account is not to get one experienced in trading, but is just a booster to help a beginner learn about the market.
Member Since May 13, 2022   34 posts
Jun 03, 2022 at 05:07
You must understand that the purpose of a demo account is to provide you with an idea of how your live account will work. However, you are missing out on the anxiety of losing money because you are effectively losing nothing on the demo account while losing money in the real account.
Member Since May 30, 2022   27 posts
Jun 03, 2022 at 09:29
You can practice on a demo account until you get comfortable. However, it doesn’t prepare you for the loss you feel during live trading. Demo is a good practice option to test strategies and get a larger idea. Your risk appetite will be tested when you switch to live trading.
Member Since Mar 31, 2021   228 posts
Jun 03, 2022 at 14:37
I don't agree with you. Demo is a good account for testing and education. Since when youre newbie it doesn't recommend to trade on live. You talk about emotions. But what hindeks you to think that demo money is your real money. You can program your brain. And then demotrading will as hard, as real one.
Think thrice before opening an order
Member Since May 29, 2022   39 posts
Jun 06, 2022 at 00:41
I believe that describing demo tapes is essential for Forex traders. Of sure, trading on a sample account can help me gain expertise and a clear vision for the future. Especially for those who are new to Forex trading. They may learn about Forex trading without any difficulty if they follow a demonstrated explanation.
Member Since May 07, 2022   40 posts
Jun 06, 2022 at 10:58
The demo account is a good start if you are a newbie, when I started using it I got a lot of learning and experiences too, yes, of course, there is a difference between a demo and a live account. But a good thing about this is that we got to know about our skill level and got familiar with trading
Member Since Mar 11, 2022   38 posts
Jun 08, 2022 at 03:55
That’s quite understandable. A demo account is a mere simulator that prepares you for the live market by giving you an idea of how the live market looks. But in no way, it tells you how the live market is moving so that you can practice your strategies and get the exact results. You have to put your money at risk to be sure about how you wish to move ahead.
Member Since Jun 08, 2022   10 posts
Jun 08, 2022 at 09:42
synaphea posted:
That’s quite understandable. A demo account is a mere simulator that prepares you for the live market by giving you an idea of how the live market looks. But in no way, it tells you how the live market is moving so that you can practice your strategies and get the exact results. You have to put your money at risk to be sure about how you wish to move ahead.

Demo is a simulator but the price movement is identical to a real account. You will not get the 'feel' if risking real money but you can test out everything else. That is why I always use demo first for any new strategy
Member Since Jun 02, 2022   32 posts
Jun 08, 2022 at 11:14
A demo account can prepare you for the type of loss you may come across but you may still not be able to experience the real deal until you trade live. It is obvious a demo account is a great practice field to test different strategies until you get into the grind. Therefore, you must switch to live only if you are really confident and can deal with loss with patience and grace.
Member Since Apr 03, 2021   470 posts
Jun 09, 2022 at 00:34
Indeed choosing the broker is a matter in forex trading because out there are so many brokers work as dealing desks broker, Choosing an ECN broker will prevent from requote problems compare the broker work as a dealing desk they can monopolize the price because they have their own liquidity, ECN broker forward order directly to interbank market
Member Since May 24, 2022   28 posts
Jun 09, 2022 at 06:32
A demo account paves the way for trading on a live account, But it lacks various elements that a live account has. A live account is really ‘live’ and ‘real’. Here real money is involved, and so are our emotions. A demo account, on the other hand, does not have any real money involved in it. Therefore, there is little to no impact on our emotions while trading. Seriousness can also be affected. As a demo account does not have real money involved, people might not see it as a serious platform. Despite the disadvantages, a demo account really helps one prepare for trading on a real account.
Member Since Jun 02, 2022   23 posts
Jun 09, 2022 at 09:47
Demo trading does not involve real money, and losing money has little to no impact on one’s emotions. Only the real world of trading with a real account can tell what to do.
A demo account does lack certain qualities of a real account, but it is very much effective to make one learn to trade nonetheless.
Nevertheless, the capability of making one a good trader cannot be denied, especially if one observes the forex market from a closer angle.
Member Since Apr 09, 2019   538 posts
Jun 09, 2022 at 11:24
I agree to an extent with the argument about how real money feels etc but I still think that it comes down to a lack of practice if you freak out when using live money. A pilot spends hundred or thousands of hours simulating before flying, a surgeon the same on cadavers before operating on live patients. Stress testing and making life uncomfortable so they know how to cope when put in real life scenarios that require them to act with a cool head. Not enough traders do the same on a demo account as they are in a rush to go live and try and make money. Put in the hours, collect the data, stress test your strategy so that you are wholly confident in it. I promise that going live is a smoother transition once you do.
If you can't spot the liquidity then you are the liquidity.
Member Since Jun 03, 2022   17 posts
Jun 10, 2022 at 06:33
I am not against demo accounts but somehow I feel that they fill you with overconfidence and make you believe that you are ready for live trading. But when you go into the live market, nothing such happens. You have to make up your mind that demo trading is just meant to give you an idea of the live market.
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.