Rating: Full Star Full Star Full Star Empty Star Empty Star
Demo trading
Previous 1 2 3 4 5 .. 16 Next
BaldoN

Member Since Feb 12, 2016  522 posts Baldo (BaldoN) May 15 2018 at 13:46
emily_smith posted:
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.


Demo may show the picture of the flow, spreads, charges etc. for example, but the demo cannot show you something very important - execution, depth of market and top of book. This could be tested in real environment only.

ComebackKing

Member Since Apr 09, 2018  36 posts ComebackKing May 15 2018 at 14:19
If you can't make money with a demo account, you won't make money with a real account.

PrivilegeToExist

Member Since May 09, 2018  13 posts PrivilegeToExist May 15 2018 at 14:41
@ComebackKing You're forgetting that a demo account doesn't have real money. So, you can't make money with it.

I'm kidding, man.

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

Member Since Apr 09, 2018  36 posts ComebackKing May 15 2018 at 14:42
Yea, lol. I should have said 'money'

TiffanyK

Member Since Feb 12, 2016  427 posts Tiffany (TiffanyK) May 17 2018 at 09:32
BaldoN posted:
Demo may show the picture of the flow, spreads, charges etc. for example, but the demo cannot show you something very important - execution, depth of market and top of book. This could be tested in real environment only.

Absolutely agree. I even think that using Demo and LIve simultaneously for testing might be helpful as well not only for newbies .... thus you can test some experts , strategies etc.

Accept the loss as experience
PrivilegeToExist

Member Since May 09, 2018  13 posts PrivilegeToExist May 17 2018 at 12:40
Random multi-per-day strategy I thought of this morning - 'get-in-the-flow' (I'm still beginner):

1) Use demo account. Pick one instrument, e.g. EUR/USD due to low spread, or one that you fancy because of its moves.

2) Bet the smallest size (i.e. 0.01 lot) up or down, doesn't matter, except if you already have a good hunch, then pick that one.

3) If you're wrong, cut your loss quickly. If you're right, try to get a stop-loss at break-even and adjust it a few times in positive direction, but leave breathing room.

4) THE IDEA IS that by playing only that one instrument, you'll not be deceived by its moves, but you'll somehow get into its flow, increasing your win-probability and win-scale.

5) If this works, slowly scale up.

6) If this still works, SWITCH TO LIVE ACCOUNT, but return to smallest lot size, because the flow as experienced by you will sure be shaken by the switch.

7) If this still works, slowly scale up.

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

Member Since May 09, 2018  13 posts PrivilegeToExist May 17 2018 at 12:40
Forgot to say: First bet is random. Being in the (demo) trade makes you give a crap, so your mind aligns more fervently. Next bet is therefore less random. And so forth. So, this wasn't meant for only one trade.

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

Member Since May 09, 2018  13 posts PrivilegeToExist May 18 2018 at 12:18
Clarification: I mean this not as a long term strategy, where you *eventually* switch to a live account, but as a daily routine. Good morning. Open demo. Pick instrument. Trade, again and again, but tiny. Get in the flow. If that works, slowly scale up. If that works, switch to live but again tiny. Realign with the flow. Slowly scale up. Next day: GOTO 10

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

Member Since May 18, 2018  26 posts bdelam May 18 2018 at 12:20
Mohammadi posted:
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 ?


although sometimes late, it's a way of developing trading confidence.. yet, there's this gnawing feeling that an investor/broker is behind my trades.. well, maybe it's just me...

begin fm below. no man w/ 4 aces asks for a new deal.
bdelam

Member Since May 18, 2018  26 posts bdelam May 18 2018 at 12:20
PrivilegeToExist posted:
Random multi-per-day strategy I thought of this morning - 'get-in-the-flow' (I'm still beginner):

1) Use demo account. Pick one instrument, e.g. EUR/USD due to low spread, or one that you fancy because of its moves.

2) Bet the smallest size (i.e. 0.01 lot) up or down, doesn't matter, except if you already have a good hunch, then pick that one.

3) If you're wrong, cut your loss quickly. If you're right, try to get a stop-loss at break-even and adjust it a few times in positive direction, but leave breathing room.

4) THE IDEA IS that by playing only that one instrument, you'll not be deceived by its moves, but you'll somehow get into its flow, increasing your win-probability and win-scale.

5) If this works, slowly scale up.

6) If this still works, SWITCH TO LIVE ACCOUNT, but return to smallest lot size, because the flow as experienced by you will sure be shaken by the switch.

7) If this still works, slowly scale up.


wow... i think that will work...
(btw, i guess its Descartes!)

begin fm below. no man w/ 4 aces asks for a new deal.
Previous 1 2 3 4 5 .. 16 Next
Loading
Loading
EURUSD 1.11174 GBPUSD 1.33352
USDJPY 109.351 USDCAD 1.31719

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2019 Myfxbook Ltd. All Rights Reserved.
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. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.