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Is demo trading enough before real account?
Member Since Jul 20, 2020
232 posts
Member Since Jul 19, 2020
318 posts
Member Since Dec 10, 2019
18 posts
Aug 30, 2020 at 19:21
Member Since Dec 10, 2019
18 posts
A demo account is certainly a great thing to practice and gain a good trading experience. Still, there is a disadvantage that will not allow you to break into the market immediately. This minus is that on a demo account, you don't feel any emotions, because you are not trading with real money. It is very important to be able to contain your emotions and control yourself. A lot of traders have lost their investments because of greed. So you need to open a small account in which you will trade small sums and slowly train your aging and self-control.
Member Since Jan 11, 2019
147 posts
Aug 31, 2020 at 08:48
Member Since Jan 11, 2019
147 posts
Demo accounts are the replica of live account and are used for the purpose of learning the platform and testing the strategies, EAs. However, the forex market is unpredictable. It is not 100% that if you are making profits on demo account, you are gonna make the same profits on live account. In live account, you will be using your own money so one has to be more cautious while placing the trades.
Member Since Jul 20, 2020
298 posts
Oct 06, 2020 at 02:01
Member Since Jul 20, 2020
298 posts
If you are a new trader, you should do demo trading first. Demo trading helps to develop your skills. There is no such thing as demo trading to use strategy as a new trader. Demo trading is very beneficial in education. In this case, a good broker is needed. A broker can take a trader to a good platform.
Member Since Sep 07, 2020
72 posts
Member Since Jun 30, 2020
47 posts
Oct 21, 2020 at 11:06
Member Since Jun 30, 2020
47 posts
It’s not enough but it’s definitely necessary. Demo account is the only way for a new trader to get a feel of the broker before live trading. I personally have used Fxview but you can choose any broker you prefer like Oanda, Alpari or London Capital Group. Just make sure that it is regulated, stay away from scams!
Member Since Aug 17, 2020
123 posts
Oct 21, 2020 at 17:48
Member Since Aug 17, 2020
123 posts
Demo trading is definitely necessary. They might not be enough as they cannot simulate the emotions you might feel when there is real money at stake but I think you can adjust your mindset to treat demo money like real money as much as possible. Regardless, it is useful for testing your strategies before you risk your capital.
Member Since Mar 16, 2020
54 posts
Member Since Jul 20, 2020
232 posts
Member Since Jun 05, 2020
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Member Since Sep 08, 2020
38 posts
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