Demo trading
Member Since Feb 11, 2019
34 posts
Mar 24, 2019 at 07:20
I am on demo and plan on staying there for a while lol. how long do you guys recommend?
Member Since Mar 18, 2019
98 posts
Mar 28, 2019 at 15:40
i would say for as long as you need to/feel confident/make consistent profits. i sometimes go back to demos even though i live trade. sometimes if i want to try a new broker or new instruments i go back to demo for a bit. if it is any consolation, i was on demo only for over a year before i switched to live trading.
best of luck!
best of luck!
forex_trader_54192
Member Since Nov 21, 2011
13 posts
Mar 29, 2019 at 05:52
Amadi posted:
There are two kinds of traders, those that use demo and learn how to trade, and those that start on a live account and expect to be millionaires at the end of the week . Which ones do you think are more likely to make any money!!! Demo is critical as is discipline
Is that a trick question?😁
Obviously, the guy on the live account has more chances to make money. The guy on the demo account will never make any money because demo money is not acceptable anywhere, it is not a currency, for your information you cannot even cash it. You better wake up and smell the coffee and go live. Another option start your own cryptocurrency and name it demo money, it may work. 😁
Once, I saw a guy at the bank with a stack of Canadian Tire money trying to redeem it. Unfortunately, the teller had to tell him the truth and snap him out of coma. Embarrassing.
Member Since Feb 21, 2019
11 posts
Mar 29, 2019 at 07:00
I sometimes go back to demo. If I make changes to a strategy or try out a new one then I will demo trade it for a few months. Sometimes it works sometimes it doesn't but it is safer to fail on demo than on live account
Member Since Feb 10, 2019
54 posts
Apr 01, 2019 at 06:00
AdamCantor posted:
i would say for as long as you need to/feel confident/make consistent profits. i sometimes go back to demos even though i live trade. sometimes if i want to try a new broker or new instruments i go back to demo for a bit. if it is any consolation, i was on demo only for over a year before i switched to live trading.
best of luck!
Totally agree here
Member Since Mar 18, 2019
98 posts
Apr 02, 2019 at 05:58
bdelam posted:
just paranoid... i am successful on demo that i think somebody's cashing in on the live side... (ugh!)
that shouldn't be the case because a demo of a broker should reflect their trading conditions (spread/leverage/trade commission charges)
the one thing a demo can't really show is things like slippage, which of course you could get on a live account.
best of luck, and keep going! If need be, go back to demo for a bit, or maybe try a few other broker's demos and see how you go :) maybe you need a different set of trading conditions.
Member Since Jul 12, 2018
24 posts
Apr 04, 2019 at 11:53
Amadi posted:
There are two kinds of traders, those that use demo and learn how to trade, and those that start on a live account and expect to be millionaires at the end of the week . Which ones do you think are more likely to make any money!!! Demo is critical as is discipline
Demo trading is good for testing your new strategy, getting familiar with an EA or a platform and just get a feel for trading.. even though it's results not comparable to live trading. But I think as a beginner, you shouldn't be on demo too long, it will mess up your psychology.
Member Since Feb 10, 2019
54 posts
Apr 05, 2019 at 11:29
tracydavison posted:
I am on demo and plan on staying there for a while lol. how long do you guys recommend?
Everyone is different so just when you feel you are ready to make consistent profits
Member Since Feb 10, 2019
54 posts
Apr 05, 2019 at 11:30
dWaverFX posted:Amadi posted:
There are two kinds of traders, those that use demo and learn how to trade, and those that start on a live account and expect to be millionaires at the end of the week . Which ones do you think are more likely to make any money!!! Demo is critical as is discipline
Is that a trick question?😁
Obviously, the guy on the live account has more chances to make money. The guy on the demo account will never make any money because demo money is not acceptable anywhere, it is not a currency, for your information you cannot even cash it. You better wake up and smell the coffee and go live. Another option start your own cryptocurrency and name it demo money, it may work. 😁
Once, I saw a guy at the bank with a stack of Canadian Tire money trying to redeem it. Unfortunately, the teller had to tell him the truth and snap him out of coma. Embarrassing.
hahaha well said
Member Since Feb 10, 2019
54 posts
Apr 05, 2019 at 11:32
Amadi posted:
There are two kinds of traders, those that use demo and learn how to trade, and those that start on a live account and expect to be millionaires at the end of the week . Which ones do you think are more likely to make any money!!! Demo is critical as is discipline
Haha very true
Member Since Mar 18, 2019
98 posts
Apr 07, 2019 at 05:47
ScottyCarsonMVP posted:dWaverFX posted:Amadi posted:
There are two kinds of traders, those that use demo and learn how to trade, and those that start on a live account and expect to be millionaires at the end of the week . Which ones do you think are more likely to make any money!!! Demo is critical as is discipline
Is that a trick question?😁
Obviously, the guy on the live account has more chances to make money. The guy on the demo account will never make any money because demo money is not acceptable anywhere, it is not a currency, for your information you cannot even cash it. You better wake up and smell the coffee and go live. Another option start your own cryptocurrency and name it demo money, it may work. 😁
Once, I saw a guy at the bank with a stack of Canadian Tire money trying to redeem it. Unfortunately, the teller had to tell him the truth and snap him out of coma. Embarrassing.
hahaha well said
this is so true. demos are there for a very good reason. I myself used a demos only for well over a year before i even considered which broker i wanted for a live account. and i am glad i took the time and dedication, else i would have been in a bad way for sure.
Member Since Feb 24, 2019
8 posts
Apr 07, 2019 at 06:50
AdrianG posted:.
While using the demo account, you would be doing a lot of trades and learning many things about the forex trading. You need to keep a record of all your trades as well as note down all the reasons behind them. You should also make notes on the fundamentals and technical analysis. This practice will help you understand how good your strategy is; identify your mistakes and weaknesses etc.
Regards,
Adrian Gates
Nice one. I agree. Similar to my Techqiue
Asset Diversification
Apr 12, 2019 at 12:12
As a master place to practice Forex trading in a proper way there is no alternative way to trade demo account. But practically we don’t believe the importance of this trading place especially the beginners. As a result we are becoming loser due to lack of exact market principle.
May 19, 2019 at 09:59
Mohammadi posted:Good experience. I think the same way. Every new strategy or etc MUST be tried on demo first.
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 ?
momchil_slavov@
Jun 02, 2019 at 12:00
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 ?
That`s a solid advice. Same here.
momchil_slavov@
Member Since Dec 05, 2016
14 posts
Jun 03, 2019 at 11:30
I would never suggest that a new trader open a live account, there is so much you can learn for free by simply trading on a demo account.
If you can't make a return trading demo, you won't make a return on a live account. My advice is to create or learn a strategy, trade it successfully on a demo account and then move to a live account. If you don't have the patience to do this, you won't have the patience to make it as a trader - trading is all about logic, patience and discipline.
Just my opinion, everyone is different...
If I can do it, so can you!
forex_trader_436974
Member Since Jun 13, 2017
49 posts
Jun 04, 2019 at 06:22
lovethepips posted:
I would never suggest that a new trader open a live account, there is so much you can learn for free by simply trading on a demo account.
If you can't make a return trading demo, you won't make a return on a live account. My advice is to create or learn a strategy, trade it successfully on a demo account and then move to a live account. If you don't have the patience to do this, you won't have the patience to make it as a trader - trading is all about logic, patience and discipline.
Just my opinion, everyone is different...
I second this. Use a demo account and learn your strategy WELL. When you start trading a live account, emotions will come into play that you didn't have trading demo. You can overcome these emotions by trusting your strategy and trading exactly the same way.
