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Newcomers and demo trading

lovefortrading (perryjohn765)
Jan 06 2021 at 07:06
238 posts
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
Mariel23134
Jan 06 2021 at 10:13
7 posts
Thanks to the demo account, the trader can get an idea of his new trading system. Without losing your money in case of failure.
Mauk
Jan 06 2021 at 11:49
78 posts
Indeed, a demo account can show your weaknesses and where you need to strengthen points in trading
RobSchiz
Dec 08 2021 at 19:12
567 posts
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.
Akasuki
Dec 09 2021 at 08:17
532 posts
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.
HeavenLeighGill (HeavLeighGill26)
Dec 09 2021 at 16:41
282 posts
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.
UweMoench
Jan 16 at 15:49
751 posts
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.
Telenergy
Jan 21 at 05:10
16 posts
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.
croisssan
Jan 21 at 13:30
939 posts
I believe that for beginners, a demo account is simply necessary. Without this, it will be much more difficult to make a profit.
Fenritaxe
Jan 21 at 18:38
16 posts
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.
HinchBago
Jan 21 at 21:31
10 posts
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.
croisssan
Jan 23 at 09:13
939 posts
Unfortunately, many people skip this mode, and as a result, they just get losses.
Adribaasmet
Jan 23 at 12:36
994 posts
as a new Forex trader that is really difficult to make sure a good focus on demo , because there is no real money .
blareblare20
Jan 23 at 13:04
4 posts
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.
Furbelows
Jan 25 at 05:16
40 posts
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.
croisssan
Jan 25 at 17:51
939 posts
It is very important for a beginner to work on a demo account. For learning, this is an extremely important aspect that should not be overlooked.
RobSchiz
Jan 26 at 18:49
567 posts
UweMoench posted:
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.
I agree with you.
Davidfx89
Jan 27 at 09:46
148 posts
sometimes i feel beginners level should trade in a micro account instead of demo account , because they not serious on demo at all.
AndrewMcCalam54
Jan 27 at 10:21
124 posts
micro account can beginners make greedy and emotional , i dont like this approach for the beginners level
croisssan
Jan 27 at 14:20
939 posts
I also used a demo account. This option seemed to me quite correct and convenient.
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