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DEMO ACCOUNT vs LIVE ACCOUNT

snapdragon1970 (snapdragon1970)
Mar 19 2017 at 14:08
1944 posts
PanMajk posted:
Been using demo account for 3 months and still I dont have enough confidence. I will practice for another 3 months at least or even to January if needed. Do I really need live account to build confidence?


Get some professional training if you can afford it.

"They mistook leverage with genius".
xgavinc
Mar 20 2017 at 09:06
235 posts
PanMajk posted:
Been using demo account for 3 months and still I dont have enough confidence. I will practice for another 3 months at least or even to January if needed. Do I really need live account to build confidence?


I would say you never really stop 'practicing'. If your demo account balance is $100 000, you won't learn anything, that's where a small, micro, live account will do you a world of good.

For every loss there should be at least an equal and opposite profit.
ct862
Mar 22 2017 at 07:34
10 posts
There is much debate as to whether Demo accounts are useful or not and whether a trader should start directly on a live account. The truth is that the demo account can be very useful in the following cases:

Know the trading platform: The most used trading platform is the MT4. If you are new to trading, chances are you have never heard of MT4 or any other trading platform. The truth is that each one of them has several functionalities that are important that you know before starting to operate in a real one.

Familiarize yourself with the tools of trading: When you start to find out about the different tools that exist to make an analysis of some value you will realize that the variety is wide. Chartist patterns, Japanese candle patterns, elliott waves, heiken ashi candles and so many more.

bestools
besttools (besttools)
Mar 27 2017 at 19:32
898 posts

only live account

david791 (david791)
Apr 06 2017 at 10:28
44 posts

first demo 5-6 months and later real

PanMajk (PanMajk)
Apr 07 2017 at 11:00
10 posts
I started with real account right away and now I regret that. Demo trading used to be useless to me 7 months ago - it was just postponing my wealth. Guess you all now know the result. Now I am proud demo trader. I undestand that there is no need to rush, that I won't quit job next month, that forex is always going to be there for me. When I develop strategy that works and suits my style - I mean what signals to look for and how to gauge them I am moving to real trading. The key here is to trade on live account exactly the same way like demo - tough it is still going to be super hard with real money involved, however, without getting at least little confidence and experience on demo, it would be super mega ultra hard to deal with emotions. I was trying to run before I even learnt how to walk. Perhaps when I experience some serious real trading I will change my mind. I am still a begginer.

wwwTraderdotcom
oyaebu (oyaebu)
Apr 07 2017 at 11:33
4 posts
mlawson71
Apr 07 2017 at 11:41
1487 posts
xgavinc posted:
PanMajk posted:
Been using demo account for 3 months and still I dont have enough confidence. I will practice for another 3 months at least or even to January if needed. Do I really need live account to build confidence?


I would say you never really stop 'practicing'. If your demo account balance is $100 000, you won't learn anything, that's where a small, micro, live account will do you a world of good.


I agree. There's no use to a demo account if you won't trade on it exactly like you'll trade on a live one. Having a $100,000 deposit in the demo account just creates false expectations.

snapdragon1970 (snapdragon1970)
Apr 07 2017 at 12:26
1944 posts
mlawson71 posted:
xgavinc posted:
PanMajk posted:
Been using demo account for 3 months and still I dont have enough confidence. I will practice for another 3 months at least or even to January if needed. Do I really need live account to build confidence?


I would say you never really stop 'practicing'. If your demo account balance is $100 000, you won't learn anything, that's where a small, micro, live account will do you a world of good.


I agree. There's no use to a demo account if you won't trade on it exactly like you'll trade on a live one. Having a $100,000 deposit in the demo account just creates false expectations.


You could try trading longer time frames on stocks its much easier than FX.

"They mistook leverage with genius".
Forex Protect
ForexProtect (ForexProtect)
Apr 09 2017 at 06:05
183 posts

demo and later real, never use first real😕

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