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Demo trading
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Mohammadi

Member Since Aug 11, 2017  623 posts Mohammadi Apr 05 2018 at 06:27
The demo account is really important for all kinds of traders in particularly the newcomers. in my trading career, after passing a long time I still depend on demo account for some inevitable reason, I use all my trading strategies first of all in demo account to see the performance how it works. this approach always helps me for avoid risk in live account when trading practically. What is your experience in demo ?

Jimmblack

Member Since Nov 22, 2017  23 posts Jimm (Jimmblack) Apr 13 2018 at 12:21
Agree with you. I also frequently use demo account for trading. Even if I trade with new broker I test demo first.

mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Apr 15 2018 at 06:10
As a newbie I traded on a demo account for months on end to learn the basics of trading. Even now, years later, I return to the demo account from time to time to both train and test new strategies.

Sky44

Member Since Apr 16, 2018  9 posts Sky44 Apr 16 2018 at 11:50
Demo is the best way to practice. You wouldn't practice to be football player by only playing league matches

Mohammadi

Member Since Aug 11, 2017  623 posts Mohammadi Apr 18 2018 at 06:55
Beginners should trade demo account minimum for 3 months for acquiring real trading experience which is very supportive to continue a live trading in a proper way. but they don’t believe the importance of this trading place at all. so it would be better if they start minim live account instead of demo trading.

BaldoN

Member Since Feb 12, 2016  522 posts Baldo (BaldoN) Apr 18 2018 at 15:34
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)

mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Apr 20 2018 at 17:30
BaldoN posted:
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)


I agree. To put it bluntly, it takes as long as it takes and not a day less.

michaelbai

Member Since Oct 26, 2015  30 posts Michael Bai (michaelbai) Apr 26 2018 at 10:08
BaldoN posted:
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)


Couldnt agree more. I use test accounts when trying different methods out and such, but always try not to be so frivolous with the trading and such. Its like putting on a costume and pretend its real for a few moments and never jsut place traders to place trades. Discipline!

Take Challenges Head On
PrivilegeToExist

Member Since May 09, 2018  13 posts PrivilegeToExist May 11 2018 at 08:53
I guess it kinda *has to be* like this: Toy in Demo, go Live ... and lose cash. Because the mind is in a completely wrong place. Demo is great, at all times (not just beginning), but there's no way around Live to get ready for Live.

Good thing there are possibilities: 1) Use the smallest lot size (0.01) in Live. If your broker's minimum is larger, use a different broker as a beginner! (E.g. I started with Trading 212, which is nice, no reason to complain, but their min is 0.05 for most pairs; swap is very tiny; spread is ok, but is better on IG and even better on FXTM; these are all I tested so far).

A BETTER alternative even: Cent (or micro) accounts. You pay €100 into a Cent account and have EUC10,000 to play with, which is just the right size for proper trading. Without the risk. But still the heat of losing real money. And the possibility to *make* real money.

Priority 1 in your life should be to find out what priority 2 is.
emily_smith

Member Since May 10, 2018  22 posts emily_smith May 15 2018 at 11:44
Demo account is very useful. Best thing about demo account is, it give you a complete picture of real trading without charging a single penny. Demo account gives an idea of everything like cost associated with trading, spread, broker's commission, swap charges etc. Specially for new traders, never go direct with live account, practice on demo account till the time you don't feel confident about your trading decisions.

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