Newcomers and demo trading

Sep 26, 2017 at 14:46
6,548 Views
157 Replies
Member Since Jul 23, 2020   759 posts
Dec 28, 2020 at 01:30
Bunaya posted:
A demo account is needed to immediately apply the knowledge gained in practice, but without the risk of losing money
Demo account is quite helpful especially for new trader to learn trading without investing or losing money.
Member Since Jun 15, 2020   59 posts
Dec 28, 2020 at 04:03
mitchelstrack posted:
inspirenez posted:
In that case go for a broker that offers a demo account, it’s always important to test a broker before going live with them. There are so many decent ones to pick from: Forex com, Fxview, IG.
What’s the criteria here for classifying these brokers as good?
Fast orders/fills/executions. Good customer service.
Member Since Jan 11, 2019   147 posts
Dec 28, 2020 at 12:19
my advise is never to jump for trading without the demo trading
Member Since Feb 12, 2020   12 posts
Dec 28, 2020 at 13:44
There is no doubt about the importance of demo trading. it is a key starting tool for gaining forex trading skills.
Member Since Nov 17, 2020   19 posts
Jan 05, 2021 at 09:33
Yes, the volatility is something every beginner has to face with their trading. But demo accounts are very good for practising a trade before execution. Helps a lot.
Member Since Jul 22, 2019   17 posts
Jan 05, 2021 at 10:56
agreed, although demo and live trading varies a lot. according to me, one should not get stuck to demo for long, just learn the basics and start small.
Member Since Jun 26, 2020   327 posts
Jan 06, 2021 at 07:05
right now i am trading on demo and use there high leverage , actually this approach may be will help me when trading in a live to avoid unfortunate risk and losses.
Member Since Sep 12, 2017   238 posts
Jan 06, 2021 at 07:06
Tradelist45 posted:
right now i am trading on demo and use there high leverage , actually this approach may be will help me when trading in a live to avoid unfortunate risk and losses.
its good for the demo to see if you can actually survive with this in the live account. this is a good approach
Member Since Mar 03, 2020   7 posts
Jan 06, 2021 at 10:13
Thanks to the demo account, the trader can get an idea of his new trading system. Without losing your money in case of failure.
Member Since Aug 26, 2020   78 posts
Jan 06, 2021 at 11:49
Indeed, a demo account can show your weaknesses and where you need to strengthen points in trading
Member Since Mar 28, 2021   617 posts
Dec 09, 2021 at 08:17
Demo is a place to prove yourself how can you handle trading strategies you have , so, don't ignore the demo , I suggest 3-4 months to stay in here , its a long time for beginners level to keep patience in here, that's why i prefer minimum 1 months for that.
Member Since Aug 05, 2021   401 posts
Dec 09, 2021 at 16:41
There are some blind spots with demo accounts in terms of money management and trading from a psychological standpoint, but that doesn't cancel out all the other benefits of having such a hands on tool available. I definitely think beginners can avoid a lot of early losses by practicing and having that experience and being educated about other things that the demo doesn't cover.
Member Since Jul 19, 2020   751 posts
Jan 16, 2022 at 15:49
RobSchiz posted:
Mariel23134 posted:
Thanks to the demo account, the trader can get an idea of his new trading system. Without losing your money in case of failure.
Yes. A new trader can improve his basic knowledge with the help of a demo account.
Demos are mandatory in order to understand the mechanism for trading functions. It's also a good way to evaluate your strategy. You aren't able to try your strategy by testing it directly on live accounts.
Member Since Jan 07, 2022   16 posts
Jan 21, 2022 at 05:10
Beginners should always practice on demo accounts that are offered by almost all the brokers. This is because it will give you an idea of how the platform functions, how you can use different tools and how you can make the best use of it.
Member Since Jun 06, 2020   18 posts
Jan 21, 2022 at 18:38
I believe that new traders have to start off from demo trading mainly because it will help them to understand what the market is and how to operate on the market. Basically, dmeo trading meets rookies with trading activity, moreover, it's free of charge, that makes this trading style unique in my opinion. No doubts, that sometimes rookies neglect demo trading because they're convinced that they can handle harsh conditions on the market on their own and as a rule they face unpleasant consequences of such ignorance. Trading activivity isn't about rushing at all. Traders must be patient and stay calm all the time.
Member Since Nov 29, 2020   10 posts
Jan 21, 2022 at 21:31
Demo trading does have some use, but it will definetely not make an experienced trader out of a newbie, that's for sure. Demo can teach you how to work with the platform and test some of the trading ideas, but it will never give you the real trading experience as demo trading lacks some very important things like spreads, slippages, requotes and psychological pressure which are integral parts of real trading. That is why if your goal is to trade your real money, you should trade microlots in the beginning and increase your position size gradually.
Member Since Jan 15, 2022   4 posts
Jan 23, 2022 at 13:04
Adribaasmet posted:
as a new Forex trader that is really difficult to make sure a good focus on demo , because there is no real money .
I agree! but if there's money involved that is also risky for a new trader.
Member Since Jan 10, 2022   40 posts
Jan 25, 2022 at 05:16
HeavLeighGill26 posted:
There are some blind spots with demo accounts in terms of money management and trading from a psychological standpoint, but that doesn't cancel out all the other benefits of having such a hands on tool available. I definitely think beginners can avoid a lot of early losses by practicing and having that experience and being educated about other things that the demo doesn't cover.
You are absolutely correct. Demo trading accounts do have their limitations. A trader is left off the actual psychological experience in demo trading but it is a great tool to make a beginner familiar with the platform and forex trading. Beginners should avail the benefits of a demo trading account before moving on to actual trading.
Member Since Jun 12, 2021   132 posts
Jan 27, 2022 at 10:21
micro account can beginners make greedy and emotional , i dont like this approach for the beginners level
Member Since Jul 28, 2020   11 posts
Jan 27, 2022 at 20:51
I think that I’m not psychologically ready for trading on a real account, so I trade on demo accounts with several brokers. I have a good imagination and can imagine how it could be when I would move to a real account. Besides this, I talk to traders I’m personally familiar. I ask them various questions about trading and they answer. It really helps to make some things clear.
When you trade on a demo account for a long time you perceive it as a toy. I feel it and I don’t like this feeling. The traders I’m familiar with told me that you may feel a strong fear when trading real money. I try to prepare myself for this. I think I will tray real trading in a couple of months.
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