Demo trading

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.

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.

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

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

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

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).
 

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.

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

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For sure. The mental side of trading is harder than the analysis side.

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`s a big problem yes. And that`s why every trader must consider demo and real are the same and to trade them in the same way. It`s one of the first things which must be learned.

momo3HC 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`s a big problem yes. And that`s why every trader must consider demo and real are the same and to trade them in the same way. It`s one of the first things which must be learned.

I totally agree.

This is why it's important to learn about the mental side of trading as well. Can't win without the right mindset

I think that learning to trade should be done on a mini forex account. Obviously you should have tested and refined a strategy on a demo account for at least two months. Demo is there for testing and to familiarise yourself with your strategy. However, transitioning to a live account afterwards is extremely important (I don't think it's wise to trade on demo for a long period of time). There are a multitude of factors that are just not experienced on a demo account.

With experience and time, you will start testing ideas and strategies on small live accounts.

Treeny posted:
This is why it's important to learn about the mental side of trading as well. Can't win without the right mindset

Exactly.

Generous posted:
I think that learning to trade should be done on a mini forex account. Obviously you should have tested and refined a strategy on a demo account for at least two months. Demo is there for testing and to familiarise yourself with your strategy. However, transitioning to a live account afterwards is extremely important (I don't think it's wise to trade on demo for a long period of time). There are a multitude of factors that are just not experienced on a demo account.

With experience and time, you will start testing ideas and strategies on small live accounts.

Exactly a combination of demo and mini is the best solution by far. This is easiest transition possible

Demo is very useful.
When you test your strategy you should always use demo for months.
When results are corresponding to your expectations you can swith to live account.
If the results are bad you can change the strategy.

togr posted:
Demo is very useful.
When you test your strategy you should always use demo for months.
When results are corresponding to your expectations you can swith to live account.
If the results are bad you can change the strategy.

That must be everybody's game for sure. 😉

momo3HC posted:

togr posted:
Demo is very useful.
When you test your strategy you should always use demo for months.
When results are corresponding to your expectations you can swith to live account.
If the results are bad you can change the strategy.

That must be everybody's game for sure. 😉

Most peoples game is to randomly buy / sell on max lot size until their trading account is wiped out!

In the genuine course of action every forex trader will require some fundamental knowledge of trading which in turn boost confidence within a trader. Again, demo trading can actually help a beginner to recognize how he can manage his strategy and administer his funds here. And yes, demo can help anyone to build up his trading psychology by offering practice session before real investment.

Demo trading is a perfect way to start trading for beginners. This is done through demo accounts. Demo trading contains dummy funds, to enable the trader learn about how to trade and the usage of the trading platforms before setting up a real account for himself. It is, therefore, risk-free trading basically.

Trying demo trading in the initial stages of your trading routine, helps you master the specific details of trading. You eventually learn how to deal with the various fluctuations in the market and test your strategizing potential.

Using demo trading, it is easier to try your hand at how you can set different stop loss and take profit, how much you should invest in a particular scheme, etc.

All in all, demo trading can be of great help for the newbies.