To Demo or not to Demo

May 11, 2021 at 20:15
1,784 zobrazení
35 Replies
Členem od Dec 17, 2018   9 příspěvků
May 11, 2021 at 20:15
Most traders on forums advise new traders to start on a demo account.

I don't think this is good advice. Where is the respect for money on a demo?

Let's see why.

The most important aspect of trading is knowledge. Has anyone seen that movie 'the chronicles of narnia the lion the witch and the wardrobe'? If you haven't go see it, there is a part where the boy finds treasure and can't contain himself and becomes a slave to money (gold).
If you trade on a demo and have not learned the essence of trading, you will become a slave to a demo. Then your nervous system gets linked to an emotional connection to a demo. If you lose a trade you go back to a demo, if you win, you go to a live. But live only there is no where to go except live and face reality. It's made clear of bad behavior by Pavolv's experiment. Demo creates negative feed back loops. Then how would you learn? Get a real mentor, you don't even know how good you might be, we could be talking about a potential multi-million dollar trader, I mean you, but you gotta get polished. This advice is only for people that see themselves as making it big in trading.

I believe in 'FEAR' , 'PLEASURE', and 'REVENGE'.
You do not feel these emotions on a demo, If the market has an interest rate decision you will be nervous in real life, if the market stole your Stop/Loss get revenge and take that money back, revenge trades are ok, and fine and moral.
When you make 3pips it's pleasure, when you make 30pips it's pleasure, when you make 300pips in a day, it's pleasure.
My first trade in the New York Stock Exchange was a magical moment, it was a silver mining stock that I bought for something like $5.35 a share then it went up to $25 per share in less than a month.

Do you think I would tell you this if it was on a demo?
Demo is for some people but fast acting, insightful, mathematical people it may not be.
This is a list of what you need in order to be successful. It's in order of importance.
1) Lump sum or income source
2) Personal Income behavior under control.
3) Personal 1-on-1 Access to a trading mentor that understands your style and behavior with money.
4) Action.

You notice how no one talks like this but 90% of traders fail? This is why, no one talks about the most important stuff, which is a mentor and personal income behavior.
Did you notice I didn't say 'personal finances'? Finances are loans income is fiat.
Sometimes I don't talk because I know a lot of people don't understand then get upset, that's why I don't post here much only years at a time, but maybe I'll change.
Get a mentor, if you can't find one learn about sales and persuasion, then persuade them, what is it worth?
"Bow to No Man"
Členem od Dec 17, 2018   9 příspěvků
May 12, 2021 at 19:18
Justin990 posted:
Not everyone is a genius when entering into forex. The demo account was made not just for beginner and newbies but also for experienced traders to try out their new strategies without taking any risk.

Some gain knowledge about live forex just be theory, but most first time users would understand only when trading with a similar live account, and no one would want to risk their money without having practice which is why a demo account is useful.

Yea, I understand. That's why I said the post was for certain types of people, and funny how you said nothing about, the biggest part...'a mentor'. I share my know only a few times to the public every so often to the public, because I know there are others like me. But yea go ahead demo's are great for some people.
"Bow to No Man"
Členem od Dec 17, 2018   9 příspěvků
May 12, 2021 at 20:20
Appealing to the masses is not my intention, this post is for people who find that they are not normal, they see the whole world different, they are super curious, and question everything around the world. Instead of taking the shorthand version of the equation, they want to know the whole thing, each step.

A demo won't make you happy, live Euros and Dollars and Yen, will make you happy. I encourage you, go to the airport get the real live money, get some Pounds, then come back home and place a live trade.

If you lose a total account, so what? How many of the richest people lost money, in their business before they hit it big? Did you lose your brain? No, so you still have the asset, don't lose your account be smart, but 'Look' at Elon musk, he broke the window of his cyber truck on live T.V. But a trader will tell you don't go live because you might, lose $500 and blow your account, his rocket totally exploded also. We're talking about money, not rode conditions and self driving cars. Do you see how scary, and egotistical people are? It's about taking action, demo's are for understanding a platforms function. If you want to practice a tactic or back test, use a sim.

For you my friend a demo is a waste of time. Do you see how on the internet there is so much conflicting information?
When people talk about demo's it's like their not fully invested.
"Bow to No Man"
Členem od May 13, 2021   12 příspěvků
May 13, 2021 at 08:11
Everyone must decide for himself whether to practice on a demo account or not, this helped me personally.
Členem od Apr 01, 2021   9 příspěvků
May 13, 2021 at 09:33
Always demo. Everyone should demo. Those who do not demo are destined to lose. Sorry but it is true
Členem od Oct 16, 2020   137 příspěvků
May 13, 2021 at 09:48
No matter what, demo accounts will always remain a uselful tool for both newbies and experienced traders. A newbie can’t just risk his money without understanding how platforms work. For experienced trader, it helps for testing purposes
Členem od Dec 17, 2018   9 příspěvků
May 15, 2021 at 08:10
Skinim posted:
Everyone must decide for himself whether to practice on a demo account or not, this helped me personally.
I'm glad it did, whether you do a demo or not, I'm glad it helped!!!
"Bow to No Man"
Členem od Dec 17, 2018   9 příspěvků
May 15, 2021 at 09:25
robindude posted:
Demo is a mandatory if you are newbie into trading. How are you going to start trading without taking or learning the concept that comes in with demo trading?
Depends on the trader, I didn't say 'everybody', just a certain few.
Also like math and science, in physics 'for every action, the is an opposite and equally reaction'. So where would a person learn to use emotions of live trading, especially during a crash?

I'm not saying your wrong, I'm expressing an idea to certain people that feel a certain way about life, a demo is not right for them.
Cheers
"Bow to No Man"
Členem od Apr 25, 2020   119 příspěvků
May 17, 2021 at 09:22
With the help of a demo account, you can find out all the functionality of the trading platform.
Členem od Aug 11, 2017   886 příspěvků
May 19, 2021 at 09:48
instead of demo to open a micro account is a very good source to see the broker performance how it works. so all beginners should follow the rules
Členem od Jul 19, 2020   788 příspěvků
May 19, 2021 at 16:47
Skills can be developed using a demo account. A profitable strategy can be created using a demo account. So a demo account is very important for every trader.
Členem od Dec 17, 2018   9 příspěvků
May 19, 2021 at 17:23
AliaDare posted:
Skills can be developed using a demo account. A profitable strategy can be created using a demo account. So a demo account is very important for every trader.
Have you ever considered, pit traders in the in the 60's 70's and 80's didn't charts at all? There was not such thing as a demo...What about trading before computers were even out? Traders were still making millions, they only relied on supply and demand, and bid and ask prices. The first stock market was in 1600's before America even existed. I'm just trying to open you guys mind to a skill. But I see most people want to rely on what you are used to. I'm pretty much done with these type of enlightenment, fine everyone sign up for a demo, get 1:500 leverage, and do what people say here.
"Bow to No Man"
Členem od Dec 17, 2018   9 příspěvků
May 19, 2021 at 17:29
W.D Gann, Nathan Rothchild, Warren Buffet, Me. Did not start on a demo. All live money, no charts, only bid and ask prices. I'm forgetting about the general public, most traders I see want a different type of life, I honor that. I not going to post anymore enlightened post anymore, no supreme math, no secret geometry, nothing.
in closing the market rewards traders in the know. I wish you all well. I will not post here anymore you guys don't value the gems.
"Bow to No Man"
Členem od Apr 01, 2020   231 příspěvků
May 20, 2021 at 00:27
I think demo trading is necessary and every new trader must start trading with a demo account. To get some good practice he must trade a demo for at least three months.
Členem od Apr 17, 2021   20 příspěvků
May 21, 2021 at 08:13
Using a demo account, you open up quite large opportunities for earning money on a real account.
Členem od Mar 17, 2021   536 příspěvků
May 23, 2021 at 17:23
Ferdii posted:
Using a demo account, you open up quite large opportunities for earning money on a real account.
Yes. this is the best option to set up a strategy for real account.
Členem od Apr 03, 2021   28 příspěvků
May 26, 2021 at 06:42
Well, it is also a factor that people are usually afraid to lose their money in the beginning so they kind of choose to trade on demos which works for them. Even if they blow a few accounts, they can earn some experience without losing money.
Členem od Jan 07, 2021   23 příspěvků
May 26, 2021 at 07:45
I will vouch for demo. It helps you in rectifying mistakes on demo itself which you can do in live trading.
Členem od Jul 19, 2020   788 příspěvků
May 27, 2021 at 14:39
There is a lot to learn from demo trading. If a trader refrains from demo trading, he needs to do real trading to develop his skills. And there is a fear of losing money when doing real trading.
Členem od Mar 16, 2021   477 příspěvků
May 28, 2021 at 03:10
If I can create a perfect strategy by trading a demo, I can gain a lot of profit in real trading. So I have to develop the strategy by practicing the demo first.
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