Demo is important for everyone. The use of demo is to test your strategy. To. Find out the winning odds of a strategy you have to test it on demo first. Another use of demo is to get ideas about a broker's platform. Make your strategy perfect on demo then apply that strategy on live account.
Demo is the most important tool any trader can have and it is completely free. Why more traders do not use demo I do not know
For newcomers demo is very important. By demo they can know how to trade on mt4. Demo is also useful to test your strategy. It is a good idea to test strategy on demo than live account.
I recently came to forex trading, but what I want to say is that a demo account is not a panacea, I have been convinced many times that what works on a demo account may not work in a real account, and the market always behaves differently. So do everything on a demo account, I'm not in agreement.
Aug 17 2020 at 20:09
By using demo you learn what to do in practice and that should be mandatory before starting.
Always consider demo trading an important practice in improving your trading styles and strategies.
Personally, I think there is no point in switching to a real account until you have tried yourself on a demo account.
Aug 19 2020 at 13:12
Every new trader should practice first at the demo account before entering into the live account. The demo account will help them to learn all the basics of forex perfectly.
Thanks to the demo account, beginners who will start creating their trading strategies can test it on it, and if the demo account is very similar to a real account like that of Amarkets, then there will be no problems with this in the future.
live account can be beneficiary for acquiring real trading experience but first of all they have to finish basic level of trading, otherwise this approach will not work at all.
Sep 27 2020 at 12:03
ElliotCooke posted:
Every new trader should practice first at the demo account before entering into the live account. The demo account will help them to learn all the basics of forex perfectly.
I agree. However, Trader lack emotion in demo account due to virtual money. They feel real emotion in live trading and make mistake because of that.
Demo accounts are good only to get a feel of the trading environment. Real money can only give real experience.
Oct 15 2020 at 05:14
If you are a newcomer in the world of trading, you must begin with a demo account. You can practise with a demo account and later switch to a real account.
Oct 19 2020 at 12:39
Cannot agree more. Demos are absolute essential!
@Ezereombre yes demo is absolutely essential but need to use in a proper way. We can't take 1000000 balance and trade. We have to treat demo like real account. Take balance 200$ to 600$ and learn risk management.
You say absolutely correctly, on a demo account you need to use the amount that will initially be on a real account.
Dec 12 2020 at 09:43
A demo account is the best way to learn forex properly and perfectly. So, every new trader should practice on a demo account before investing their money in a real account.
Dec 13 2020 at 15:32
You should trade on demo accounts. it will be better. what matters is that you are patient enough.
I TRUST IN GOD
Dec 22 2020 at 04:35
UweMoench posted:
@Ezereombre yes demo is absolutely essential but need to use in a proper way. We can't take 1000000 balance and trade. We have to treat demo like real account. Take balance 200$ to 600$ and learn risk management.
That is so true, the biggest mistake that a new trader makes on a demo account is trade millions on a demo when in reality he will be using only a few hundreds dollars out of his pocket for trading.
