To use chat, please login.
Back to contacts

Newcomers and demo trading

Sep 26, 2017 at 14:46
157 Replies
Member Since Mar 11, 2022   51 posts
Mar 31, 2022 at 10:01
A demo account helps traders to build confidence and build a trading strategy with an edge ready for trading on a live account.
Member Since Mar 23, 2020   63 posts
Apr 06, 2022 at 11:45
Demo trading is very useful if you are not ready to go live or spend any bucks for trading. Demo trading give you a more scope in understanding how you can trade better in various way without losing the actual money.
Member Since Jul 23, 2020   869 posts
Apr 07, 2022 at 06:22
There is no need to describe the importance of demo trading again. You know new traders don’t have sufficient trading knowledge and demo trading is the only way a trader can develop themselves. Traders can recover their mistakes through demo trading and also generate new ideas by demo trading.
Member Since Feb 16, 2022   63 posts
Apr 08, 2022 at 07:02
Maximum traders don’t trade in demo acciount and its’ their fault. They take demo trading as a very simple factor. But this demo trading strengthens the basement of a trader. Expert traders also use demo account to retain their expertism for a long time.
Member Since Apr 04, 2022   25 posts
Apr 12, 2022 at 10:03
Demo is a boon for every trader, especially beginners. Every beginner should start from demo trading as it teaches you a lot about trading. If you start trading without trying out a demo account then it’s gonna be very tough for you to understand the functioning and mechanisms of the market.
Member Since Feb 07, 2022   24 posts
Apr 12, 2022 at 10:28
Demo trading is the foundation of forex. You should never go for live trading without practicing on demo account.
Member Since Aug 10, 2021   177 posts
Apr 13, 2022 at 01:24
Before go for real trading every new trader must trade with demo account.
Member Since Jul 23, 2020   869 posts
Apr 13, 2022 at 05:24
Beginners should not jump onto trading directly rather they should first focus on learning as much as possible. It’s because if they initially get losses, they will lose their thirst from trading in Forex. They should make demo trading their trading partner because demo trading will help them by catching their mistakes.

Member Since Jun 12, 2021   132 posts
Apr 17, 2022 at 08:23
newcomers always try to bring good amount of profit with no learning. this is a very worst decision ever and happen every times.
Member Since Apr 03, 2021   470 posts
Apr 17, 2022 at 23:27
Demo trading is very important for beginner traders where they need to learn without any risk through a demo trading account, almost broker provides demo trading account for learning purposes using virtual money, but work on real market condition, demo trading will useful if trader seriously to use demo trading.
Member Since Aug 10, 2021   177 posts
Apr 18, 2022 at 01:49
AndrewMcCalam54 posted:
newcomers always try to bring good amount of profit with no learning. this is a very worst decision ever and happen every times.
Yes, it is true.
Member Since Mar 21, 2022   47 posts
Apr 18, 2022 at 07:39
Starting with a practice account is always a good idea. Using demo trading, try to absorb as much information as possible. This will assist you in avoiding costly mistakes in live trading and enabling you to make informed judgments.
Member Since Jun 26, 2020   327 posts
Apr 18, 2022 at 07:42
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.  
Member Since Apr 14, 2022   34 posts
Apr 19, 2022 at 10:15
Demo trading helps the traders to be familiar with the platform on which they have to trade-in. It is good for newbies as they do not have any experience in trading so they can get to know a lot from these demo trading processes. A bonus point is that they can trade in it and explore it without being stressed about the losses, after all, there is no real money involved in demo trading.
Member Since Jan 21, 2022   57 posts
Apr 21, 2022 at 07:36
Every trader who is new to Forex can benefit from demo trading. He can gain more experience by practising demo trading, and will be able to make a good profit in the live market later on.
Member Since Apr 18, 2022   51 posts
Apr 22, 2022 at 06:45

Beginning as a newcomer in forex trading can be challenging, I would recommend going through different terminologies and concepts from the internet. At first, it can be tough to understand the trading analysis and charting patterns but there's always an option to opt for a demo trading until you are comfortable with risking real money.
Member Since Apr 14, 2022   35 posts
Apr 23, 2022 at 09:31
Initially, many traders start with demo trading because it is a safer and more convenient way to learn how to trade from the inside. One can learn in a better way because it gives a real-life trading experience and is risk-free.
Member Since Jul 23, 2020   869 posts
Apr 24, 2022 at 06:22
Antal537828 posted:
Demo is really good for any kinds of traders especially for newcomers. i use all my trading strategies in demo to see the performance how it works.

Perfect, that's the advantage of demo trading account! Actually, right now I'm using my real account but till now I need to use the demo, know why? Because I always try to modify my existing trading systems! So, demo account is my ultimate choice!
Member Since Jun 12, 2021   132 posts
Apr 24, 2022 at 09:27
newcomers even though consider demo as like a time passing issue but this is a master place to become knowledgeable trader very rapidly.
Member Since Apr 14, 2022   16 posts
Apr 25, 2022 at 12:15
It is always good to practise on a demo account before risking the real money. But some new traders are skipping this step which may not cause any problems if they are good at trading to begin with. Also, being good at trading with a demo account does not indicate that you will be good at trading with a real account too since a demo account is very much different from an actual trading account. Even the strategies that worked perfectly in your demo account may fall apart when you use them in real trading. Still it is better to test your skills in a demo account and it is a lot of fun too.
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.