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!
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.
Jun 04 2019 at 06:52
lovethepips posted:its 100% right. New trader is think very quick scheme that's why they fall. its needed time to familiar with market. so try with demo is best. I am doing demo before 2.5 yrs and not doing real at all. I want to understand market. I want to grow slowly.
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...
Day by day having better, better and better...
Jun 04 2019 at 06:53
ForexScreamer posted:Thanks for great advice.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.
Day by day having better, better and better...
Jun 04 2019 at 06:53
ForexScreamer posted: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.
Totally agree
If I can do it, so can you!
Jun 04 2019 at 09:56
expkhaled posted:lovethepips posted:its 100% right. New trader is think very quick scheme that's why they fall. its needed time to familiar with market. so try with demo is best. I am doing demo before 2.5 yrs and not doing real at all. I want to understand market. I want to grow slowly.
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...
Well done. You have saved yourself a few blown trading accounts!
After 2.5 years though, I would consider taking things to the next step but we all learn differently and have different expectations.
All the best
If I can do it, so can you!
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
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!
lovethepips posted:true, that's what i did, tested my strategies alot before going live and then applied them on the real.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).
Jun 06 2019 at 17:49
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
For sure. The mental side of trading is harder than the analysis side.
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.
Jun 07 2019 at 10:50
momo3HC 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`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.
I totally agree.
This is why it's important to learn about the mental side of trading as well. Can't win without the right mindset
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.
With experience and time, you will start testing ideas and strategies on small live accounts.
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.
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
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.
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.
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. 😉
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!
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.
