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.
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.
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.
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
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...
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