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.
I think good for newbies they use demo accounts for practice and learning, but usually demo account starts with big capital like as $5000 in account trading, using big capital and free from emotion usually will lead to becoming good result in a demo account, it is about psychology, but I think better when using a demo account only start with small capital like that will prepare later in real account, many traders fail less than six months, beginner they good spent practice in the demo at least six months
Demo accounts are available for forex trading, a very good business. Demo accounts give all traders the opportunity to practice without any risk or danger. We can learn from our mistakes by practicing on a demo account. Then we won't make the same mistake in the real account.
I’m a newbie and I’m currently trading on a demo account. I can say that I like this feeling that I’m a newbie and exactly in this field. You know for some people it’s quite shameful to recognize that they are newbies in the thing they are just starting to explore. Perhaps, they are afraid they may be laughed at for their lack of experience. I don’t have such a phobia. I think that there’s nothing shameful in being a newbie. On the contrary, I think that it’s a specific state that shows that you have a good chance to try something new and finally change your life for the better. When I’m a newbie I feel a great joy of discovering new things everyday and trading still has a lot of surprises for me.
Demo trading gives newcomers to currency trading an opportunity to learn the basics of forex without risking real money. This enables them to focus on learning the tools and techniques available to them without the distractions or worries that real money brings with itself.
New comers and demo trading should be talked of together because demo trading is the tool that every new trader should take advantage of right from the beginning. Every new lesson learned by the new trader should be practised on the demo account to become familiar with the practical aspects of it.
Mohammadi posted: This volatile trading place is very much complicated for all kinds of traders in particularly for who are newcomers. Newcomers first of all have to observe all market principle which is more appropriate to survive in here in a proper way. They have to emphasis firstly only learning by reading books, Pips school, Forex.com and from much more Forex website. And with this process also should trade in demo account to make sure market movements. But practically mostly don’t believe the importance of demo account at all.
Unfortunately a number of new traders using their demo slightly; as a result when they go for live trading they face a huge loss! This is why my suggestion is to the all new traders, please use your demo so sincerely as like your live trading account!
For a beginner, it is essential to learn a lot of things that will make him a good trader. Some mistakes that beginners should avoid are to not trade if you do not know about the market, wait for the right time to trade, and to never be greedy.
Newcomers and demo trading are inextricably engaged. Because you know newcomers enter the market with no trading knowledge and they need to improve day by day. But we hardly see this patience among new traders as a result their falling rate from Forex is at the peak.
Demo accounts are suggested to new traders to develop skills and trade in a risk-free environment. For any new trader, directly trading in a live environment can be overwhelming, challenging and risky because of a lack of skills. Even though trading with a demo account is not mandatory, all traders should do this to create workable trading strategies and get familiar with the trading platform to avoid risk.
demo experience sometimes doesn't work in really account, its really true. but that not mean , it is useless. beginners level of course minimum have to spend 3-5 months in here to ensure live trading experience.
New comers should make a good friendship with demo trading. But it’s a rare sight. Demo trading is the solution that can turn a new trader perfect. Through demo trading, a trader can be familiar with all the terminologies, techniques and tools of the market.
Newcomers are unknown of the trading platform and and tooling. So, if they use demo trading account, they can get introduced to all the tooling and the operations of the platform. They don’t know how to analyze the market and how to derive signals from it. They can learn so by trading in demo account.
no_frame posted: As per my opinion, demo trading is a great way for beginners to get familiar with the trading platforms and the trading environment, one should never miss it.
Absolutely agree its on the way to being a trader. You need to go through that passage but only when you have a system and you're willing to practice it seriously and not load up a 1million demo account if you intend to do 1k
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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