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Demo trading

lovethepips (lovethepips)
Jun 03 2019 at 11:30
14 posts

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!
Pentz Consulting
ForexScreamer
Jun 04 2019 at 06:22
49 posts
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.

expkhaled (expkhaled)
Jun 04 2019 at 06:52
21 posts
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...

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.

Day by day having better, better and better...
expkhaled (expkhaled)
Jun 04 2019 at 06:53
21 posts
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.
Thanks for great advice.

Day by day having better, better and better...
lovethepips (lovethepips)
Jun 04 2019 at 06:53
14 posts
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!
lovethepips (lovethepips)
Jun 04 2019 at 09:56
14 posts
expkhaled 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...

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.


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!
BringmeFish
Jun 04 2019 at 09:56
11 posts
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

lovethepips (lovethepips)
Jun 04 2019 at 10:02
14 posts
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!
raybill
Jun 05 2019 at 11:01
5 posts
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.

jamesgwyther
Jun 06 2019 at 17:49
289 posts
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.

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