To use chat, please login.
Back to contacts

DEMO ACCOUNT vs LIVE ACCOUNT

josephwong
Jan 27 2017 at 08:57
15 posts
don't use demo acount, use micro/cent account instead

shirley_F (shirley_F)
Jan 29 2017 at 07:21
41 posts
josephwong posted:
don't use demo acount, use micro/cent account instead


When? From the very beginning? No matter what is the account, I wouldn't recommend risking any money before a period of intensive practicing...

shirley_F (shirley_F)
Jan 29 2017 at 07:22
41 posts
AlGauthier posted:
But I would add also - No pain = No gain 😉


Hahaha, this is also true! 😁

shirley_F (shirley_F)
Jan 29 2017 at 07:23
41 posts
DRFXTRADING posted:
If you use small Stops of 10, 20, 30 Pips then youll have problems. The market just needs to sneeze for you to be Stopped Out..this then leads to traders blaming the brokers, market etc.


Isn't it that the stops are risk precaution measures? If the price goes against you, the bigger the stop, the larger could be the loss. Of course we need to have the spread in consideration as it is the main factor that can trigger your stops sooner or later. I think demo account is the best place to test and validate such situations.

PriceAction13
Jan 29 2017 at 13:37
58 posts
I really appreciate your offer, most of the new Forex traders can’t concentrate on demo, in this case micro or cent account would be useful! By the way, I used demo account and I was too much serious in my practice account! But it’s true, in my early stage of live trading I faced psychological problems but gradually I understand the principles of live trading!

To change your trading result, just change your thinking.
FxMasterGuru (FxMasterGuru)
Jan 29 2017 at 15:55
1607 posts
PriceAction13 posted:
I really appreciate your offer, most of the new Forex traders can’t concentrate on demo, in this case micro or cent account would be useful! By the way, I used demo account and I was too much serious in my practice account! But it’s true, in my early stage of live trading I faced psychological problems but gradually I understand the principles of live trading!


The only way to avoid those ''psychological problems'' is to describe your strategy in simple layman words to the smallest details then finding a good programmer who codes those words into an EA. As my programmer says: ''If you can put it into words, I can code it for you.''

Trading with EAs means trading with actual a ''money making machine'' which trade without fear, greed and anxiety. Above all, it is just fun making money while sleeping (which is literally true as my EAs are trading mainly the Asian sessions).

I have been trading only by EAs for the past years and I could never go back to face the anxiety involved with manual trading LARGE ACCOUNTS. I have to admit that I have difficult times EVEN TO WATCH my EAs trading my personal and my investors' accounts with $50,000+ total under management...

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
josephwong
Jan 30 2017 at 08:01
15 posts
shirley_F posted:
josephwong posted:
don't use demo acount, use micro/cent account instead


When? From the very beginning? No matter what is the account, I wouldn't recommend risking any money before a period of intensive practicing...

Yes, from very beginning, you will learn when you loss, in demo account, people usually don't serious with it because no money involved

jackwilliams
Feb 01 2017 at 15:28
22 posts
Well, I believe both the accounts are same in functionality. The only difference is in demo account your real capital is not at stake whereas in real account you trade with real money. So trader trades risk free in demo account. This is the drawback of demo accounts as even if the people lose money in demo account they don’t take it seriously, on other side when the same thing happen in real account they get agitated. So, in demo one is not able to get a true feel of trading.

MC85
Feb 02 2017 at 15:02
48 posts
jackwilliams posted:
The only difference is in demo account your real capital is not at stake whereas in real account you trade with real money.


True, but don't forget the execution and all that goes with it (like slippage etc.).

MC85
Feb 02 2017 at 15:03
48 posts
josephwong posted:
shirley_F posted:
josephwong posted:
don't use demo acount, use micro/cent account instead


When? From the very beginning? No matter what is the account, I wouldn't recommend risking any money before a period of intensive practicing...

Yes, from very beginning, you will learn when you loss, in demo account, people usually don't serious with it because no money involved


So you prefer to test the real water first dipping a toe. Not a bad idea in general. Are you still with micro account or you moved to trading at larger scale? How long did it take you to decide and invest more money in forex?

Please login to comment .