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Is demo trading enough before real account?

Xazvier
May 13 at 15:54
28 posts
The demo trading is a helpful tool to learn about live forex trades, but it also requires knowledge, focus, strategy and risk-taking skills to enter live trading because demo is risk-free. It can only give you a risk-free practical experience, but real emotions and risks are involved when trading live.

NathanJr
May 14 at 13:34
15 posts
I wouldn't say demo trading is enough before opening a real account to trade live, but it is one of the main aspects of learning about forex live markets because the demo account helps a beginner familiarise with the market movement and its trading platform software.

Pips Laws (Piplaws)
May 26 at 08:23
28 posts
It is good that you started with a demo account instead of going for the live one directly. Maybe you can practice for a while before trading with your real money. Good luck to you.

ForexReverse (FedericoLin)
May 26 at 10:55
19 posts
it's a good thing to test the strategy in demo, and after you are used to the strategy open an real account 😄

Experience is the hardest teacher because she gives the test first, the lesson afterward.
Bela_fx
May 27 at 12:11
33 posts
Faujinn posted:
When starting practice on a demo account, do not forget that you must continue learning.

True, there are many sources available on youtube and forex trading books, from other traders as well.

SteveHanks
Jul 28 at 10:38
370 posts
FedericoLin posted:
it's a good thing to test the strategy in demo, and after you are used to the strategy open an real account 😄

Yes. Demo is the best option to practice.

SofieAndreasen
Aug 04 at 10:29
614 posts
It is not. Traders need to know about trading psychology in real trading.

Freddy Taylor (Freddy4Taylor)
Aug 04 at 13:45
12 posts
I once earned $30,000 on a demo, but I don't think I can repeat it on a real account.
I started to believe in myself

No job too big. No job too small.
mab8
Aug 05 at 04:33
41 posts
A demo account is going to give you the possibiility of using the platform, see how trading works, but it is not going to give you the emotions associated with real trading, such as how fear or doubt set in before you make a decision. Nonetheless it is still helpful to spend time on a demo account at first. However you should also substantiate that with plenty of reading and research so as to learn more about news that affect the market, for example, and there are also courses you could consider following. I suggest you start with small amounts first when you move on to real trading and it is also important to have a trading journal to record what you did so that you can keep track and improve over time through your own experiences. Risk management is also key.

HeavenLeighGill (HeavLeighGill26)
Aug 19 at 02:18
79 posts
Demo accounts are helpful when it comes to learning the mechanics of trading and testing strategies. Not so much when it comes to the psychological or money management parts of trading. I think it's crucial to trade on a demo, but keep in mind that you could start to feel anxiety, greed, or other emotions once you go live. Also, the demo doesn't teach effective money management since you can just have it topped up, but I've read suggestions that say you can try giving yourself real world consequences to make the demo account results feel more realistic and so that you'll take it more seriously.

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