Demo trading

Apr 05, 2018 at 06:27
8,129 Views
186 Replies
Member Since Jun 04, 2019   11 posts
Jun 04, 2019 at 09:56
Easier said than done. Easy to trust a strategy when on demo but doubts come in mind when trading live because real money is on the line
Member Since Dec 05, 2016   14 posts
Jun 04, 2019 at 10:02
BringmeFish posted:
Easier said than done. Easy to trust a strategy when on demo but doubts come in mind when trading live because real money is on the line

That is true. That's why you need to build confidence in the strategy first, otherwise you will doubt and give-up when trading live. Confidence can be built by thorough back-testing or by trading demo (or both).
 
If I can do it, so can you!
Member Since May 14, 2019   5 posts
Jun 05, 2019 at 11:01
lovethepips posted:
BringmeFish posted:
Easier said than done. Easy to trust a strategy when on demo but doubts come in mind when trading live because real money is on the line

That is true. That's why you need to build confidence in the strategy first, otherwise you will doubt and give-up when trading live. Confidence can be built by thorough back-testing or by trading demo (or both).
 
true, that's what i did, tested my strategies alot before going live and then applied them on the real.
Member Since Oct 20, 2018   300 posts
Jun 07, 2019 at 08:27
BringmeFish posted:
Easier said than done. Easy to trust a strategy when on demo but doubts come in mind when trading live because real money is on the line

That`s a big problem yes. And that`s why every trader must consider demo and real are the same and to trade them in the same way. It`s one of the first things which must be learned.
momchil_slavov@
Member Since Feb 08, 2019   213 posts
Jun 07, 2019 at 16:31
This is why it's important to learn about the mental side of trading as well. Can't win without the right mindset
Member Since Apr 19, 2019   18 posts
Jun 09, 2019 at 10:45
I think that learning to trade should be done on a mini forex account. Obviously you should have tested and refined a strategy on a demo account for at least two months. Demo is there for testing and to familiarise yourself with your strategy. However, transitioning to a live account afterwards is extremely important (I don't think it's wise to trade on demo for a long period of time). There are a multitude of factors that are just not experienced on a demo account.

With experience and time, you will start testing ideas and strategies on small live accounts.
Member Since Oct 20, 2018   300 posts
Jun 15, 2019 at 12:54
Treeny posted:
This is why it's important to learn about the mental side of trading as well. Can't win without the right mindset

Exactly.
momchil_slavov@
Member Since Jun 14, 2019   10 posts
Jun 20, 2019 at 10:38
Generous posted:
I think that learning to trade should be done on a mini forex account. Obviously you should have tested and refined a strategy on a demo account for at least two months. Demo is there for testing and to familiarise yourself with your strategy. However, transitioning to a live account afterwards is extremely important (I don't think it's wise to trade on demo for a long period of time). There are a multitude of factors that are just not experienced on a demo account.

With experience and time, you will start testing ideas and strategies on small live accounts.

Exactly a combination of demo and mini is the best solution by far. This is easiest transition possible
Member Since Feb 22, 2011   4862 posts
Jun 20, 2019 at 10:54
Demo is very useful.
When you test your strategy you should always use demo for months.
When results are corresponding to your expectations you can swith to live account.
If the results are bad you can change the strategy.
Member Since Oct 20, 2018   300 posts
Jun 22, 2019 at 07:24
togr posted:
Demo is very useful.
When you test your strategy you should always use demo for months.
When results are corresponding to your expectations you can swith to live account.
If the results are bad you can change the strategy.

That must be everybody's game for sure. 😉
momchil_slavov@
Member Since Jun 27, 2019   13 posts
Jun 27, 2019 at 12:00
momo3HC posted:
togr posted:
Demo is very useful.
When you test your strategy you should always use demo for months.
When results are corresponding to your expectations you can swith to live account.
If the results are bad you can change the strategy.

That must be everybody's game for sure. 😉

Most peoples game is to randomly buy / sell on max lot size until their trading account is wiped out!
Member Since Jun 29, 2019   65 posts
Jun 30, 2019 at 07:06
In the genuine course of action every forex trader will require some fundamental knowledge of trading which in turn boost confidence within a trader. Again, demo trading can actually help a beginner to recognize how he can manage his strategy and administer his funds here. And yes, demo can help anyone to build up his trading psychology by offering practice session before real investment.
Member Since Jul 09, 2019   38 posts
Jul 11, 2019 at 06:16
Demo trading is a perfect way to start trading for beginners. This is done through demo accounts. Demo trading contains dummy funds, to enable the trader learn about how to trade and the usage of the trading platforms before setting up a real account for himself. It is, therefore, risk-free trading basically.

Trying demo trading in the initial stages of your trading routine, helps you master the specific details of trading. You eventually learn how to deal with the various fluctuations in the market and test your strategizing potential.

Using demo trading, it is easier to try your hand at how you can set different stop loss and take profit, how much you should invest in a particular scheme, etc.

All in all, demo trading can be of great help for the newbies.
Member Since Jul 09, 2019   26 posts
Jul 11, 2019 at 07:10
• Demo account is a really nice and significant option to start with. To learn the basics and observe one can open these demo accounts for like 2 or 3 or 5 months. There are experienced traders who still open their demo accounts just to try new methods.
    • They are provided by many trading platforms to test the platform’s reliability before customers actually invest their money to these investments.
Member Since Aug 09, 2017   785 posts
Aug 06, 2019 at 19:08
sounds well when someone want to trade in a demo account , because we always ignore the importance of demo , by the way , you have to trade minimum 6 months in here to become a minimum knowledgeable trader
Member Since Aug 11, 2017   886 posts
Aug 08, 2019 at 17:44
demo experience sometimes doesn't work in really account, its really true. but that not mean , it is useless. beginners level of course minimum have to spend 3-5 months in here to ensure live trading experience.
Member Since Apr 25, 2019   26 posts
Aug 13, 2019 at 17:29
I always recommend having a demo account. Firstly, you can recognize a broker. Secondly save your money :)
  I lost about $ 1000 five years ago. I started trading immediately without a demo account. I decided that it would be more interesting to study like that.
I'm smarter now. I earned those $ 1000, but the discomfort remained. Therefore, do not neglect the demo account.
Member Since Aug 14, 2019   3 posts
Aug 14, 2019 at 10:20
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 ?
Agree! Demo account is very important for newbie!
Member Since Aug 16, 2019   11 posts
Aug 16, 2019 at 09:32
Demo is cheapest way to make mistakes and learn. But demo do not really tell you what a broker is like. Demo trading has no slippage and generally results are much higher on demo than on real. Some broker have great demo but when trade real they will take all your money
forex_trader_565984
Member Since Oct 08, 2018   144 posts
Aug 16, 2019 at 11:57
Demo account trading is definitely important before live trading especially if you are a newbie and if you are planning to trade manually in order to get yourself familiarise with different options available in MT4 which you can check and practise in real time with no real money loss.

But if you are planning to practise in demo for few days and jump into live account after that, then it might not be a good idea. Until and unless you have thoroughly tested and practised your specific strategy for long periods of time in demo and generated consistent profits, till then you should stay away from live account and continue with demo account only and it will save you a lot of money.

If you are successful in demo account with your strategy with an average of good pip expectancy and low drawdown % with a track record of 3 to 6 months , then in fact you don't need live account of your own and you can easily get investors or get connected with partner brokers whose money you can trade and make money without any investment of your own.

So being consistently profitable in a demo account with good and long track record can also help a lot without any investment from the trader.
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