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Demo trading

Gracewilson1995
Jan 21 2019 at 08:16
147 posts
Yes, I agree with your approach. A trader must trade in demo account because though it is a virtual thing, it prepares for the real forex market. The demo account is very helpful if you trade thinking the money you have in this account is real. In order to avoid loss, we must trade in a demo account to learn about the trading styles and strategies. With the demo account, we can learn about making profit and losses by setting different leverage, SL/TP, margins. You get to know about spreads, broker’s commission, swap charges on different instruments. You are able to get the scenario of a market in a better way that too without losing a penny. Once you get comfortable with market conditions and volatility, you become confident about your own trading styles and strategies you can continue to trade on the live account. However, a demo account is not only for newcomers, but you can also always make trades on the demo account before executing them on the live environment to get the clear version.

Pacifico
Jan 22 2019 at 07:33
10 posts
Do you think that a demo account is needed if you are using a Forex robot? I assume that if I buy a good Forex robot then it will be good to go straight on a live account?

Alcides666
Jan 24 2019 at 08:13
10 posts
I think it is. So many robots are junk. You need to try it on demo first to make sure it will not wipe out your account. Use demo for 1 or 2 months and then try a real account on a small Lot size. Play it safe is the best way

Pentz Consulting
ForexScreamer
Jan 29 2019 at 07:42
49 posts
Pacifico posted:
Do you think that a demo account is needed if you are using a Forex robot? I assume that if I buy a good Forex robot then it will be good to go straight on a live account?


A demo account is equally important for testing a robot. The trick is knowing a good robot vs. a bad. If it's a commercial robot you can't go by their web page. ALL robots claim they will make MILLIONS with ZERO risk!! Even if you get one with good reviews on 3rd party sites, like MyFXBook, you'll still want to test for several months minimum. I know of no robots that don't have a weakness. The difference between a good robot and a bad is how easily that weakness is manifested.

johngerwin
Feb 01 2019 at 11:49
16 posts
ForexScreamer posted:
Pacifico posted:
Do you think that a demo account is needed if you are using a Forex robot? I assume that if I buy a good Forex robot then it will be good to go straight on a live account?


A demo account is equally important for testing a robot. The trick is knowing a good robot vs. a bad. If it's a commercial robot you can't go by their web page. ALL robots claim they will make MILLIONS with ZERO risk!! Even if you get one with good reviews on 3rd party sites, like MyFXBook, you'll still want to test for several months minimum. I know of no robots that don't have a weakness. The difference between a good robot and a bad is how easily that weakness is manifested.


I never believe all that marketing BS...if your robot makes millions why are you sharing it for £199 LOL

CheCheChe
Feb 04 2019 at 12:37
12 posts
There are some robots that work but they are the ones advertising good but not ridiculous results. It is usually easy to identify the scam websites because they claim they will make you a millionaire and have a 100% win rate. I would much rather use an EA that claims a 60% win rate and a few hundred pips a month. That is more likely to be the real deal

vontogr (togr)
Feb 04 2019 at 14:48
4862 posts
3 months on demo is fine
as long as you have consistent results

Imamul
Feb 06 2019 at 14:55
615 posts
Demo account generally is more appropriate to ensure the basic fundamental market experience which is very supportive to continue a live account in a proper way , but not appropriate to make sure brokers performance but shortly you can understand how the broker works.

Bongotrader (expkhaled)
Feb 13 2019 at 07:29
21 posts
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 ?
yes, great...i think like this and i m doing demo for 2 yrs for buildup n correction my strategies n now i ready for real. Bcz i finalize my strategies. Every One must need to practice for long time for understand forex market...

Day by day having better, better and better...
Imamul
Feb 20 2019 at 07:08
615 posts
Demo trading the first of trading in Forex , but Honestly speaking I have never used this trading place when I was a newbie. Because I was bored in here. I studied in Pips School and besides this i was in live account with small balance. It worked greatly instead of demo account.

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