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Is a demo account really neccassary?

Seb King (sebking1986)
Feb 14 at 11:30
448 příspěvků
James_Bond posted:
I will clarify; the point of a demo account is to get a feel of forex trading, however it creates the psychological illusion of not caring of any losses/wins and taking enormous risk without having to confront consequences (psychological side).

See I fundamentally disagree with this. Too many do but this is entirely choice. I always treat a demo account as if it were real money as this helps me from good risk management habits. I don't demo with money too out of line with what I trade live either. Habits are the result of repetition and I never bought that these can't be formed on demo ultimately risk free. Why treat it differently to live? Of course it IS different but if you can get used to the numbers on the screen on demo then you will feel more numbness to them when live. At least that's how I worked it and it made sense to me. Using a demo and treating it like it's risk free reinforces bad behaviours that will only make it harder to rectify when live.
If you can't spot the liquidity then you are the liquidity.
Jungle78
Feb 28 at 20:52
105 příspěvků
Agreed with the poster above its vital you treat it as a live account will have major benefit to your trading.
If you see it as pretend then you lose the psychological downer of losing you need to treat it as real for it to benefit you
Zander09Arie
Mar 01 at 11:45
18 příspěvků
Yes ofcourse demo account is very important for any trader.
Gewgaw
Mar 10 at 06:49
34 příspěvků
Demo accounts are mainly meant to make traders aware of the platform and the working of the market. They do not develop the trading psychology as real money is not involved.
I believe that a trader should not spend more time on a demo and as soon as he finds his strategy is working, he should switch to a cent or micro account. Switching to the cent or micro account allows traders to work on their trading psychology without risking a big amount.
forextrader777
Mar 11 at 02:44
128 příspěvků
Demo will teach you how to trade but how to manage your emotions can only be learnt on a live account.
Davidfx89
Mar 11 at 10:52
147 příspěvků
yes but this education level actually not works for all time , for that reason we the traders most of the time lost interest from demo.
Daxton
Mar 11 at 11:03
42 příspěvků
Can not emphasis enough on how much demo account is important. You actually learn a lot.
Briosody
Mar 14 at 06:18
36 příspěvků
It is not mandatory for traders to do demo trading, but all traders should do it because it has many benefits. One of the best benefits of demo trading is that you get to trade in a risk-free environment and acquire trading skills without investing any money.
ARNOLD WISDOM (Wisdom02)
Mar 14 at 06:25
1 příspěvků
demo will only educate you on big accounts, you'll regret applying demo skills in a small account.
MONEY,METHOD,MANAGEMENT
Pogonip
Mar 16 at 06:50
22 příspěvků
Use demo accounts to an extent that they don’t fill you with unrealistic expectations. As you won’t be using any money, you may not know how it feels to. So, once you have become familiar with the basic functions of a trading platform, move to your micro trading account.
Tradelist45
Mar 16 at 10:23
246 příspěvků
using a demo account until you’re comfortable with your progress. Then you could dip your toe into a small live account to learn how to control the emotional reactions to both losing and winning trades.
AndrewMcCalam54
Mar 16 at 11:09
123 příspěvků
very common post but effective all message .
Akasuki
Mar 16 at 12:20
532 příspěvků
aj901512 posted:
i think you got it just right and i agree. demo is quite useless if you plan to trade real money. i say start small with a live account and build your way up.

Really, when how did you learn your Forex trading? Did you start your live trading so directly?
skihav
Mar 16 at 17:03
801 příspěvků
Definitely yes. For example, when I started working with a broker, I used a demo account to get the necessary knowledge.
Daxton
Mar 17 at 06:45
42 příspěvků
Practicing on a demo account is the foundation of forex trading.
croisssan
Mar 17 at 11:25
939 příspěvků
A demo account is definitely an important stage for a beginner. Without this, it will be extremely difficult for a trader to get the desired result.
Davidfx89
Mar 17 at 13:18
147 příspěvků
the result of demo is not a real money but this can be a real and good experience.
Ishaban
Mar 17 at 14:00
2 příspěvků
Ishaban
Mar 17 at 14:01
2 příspěvků
Please how do this work
nabobe
Mar 22 at 05:41
22 příspěvků
It’s important to know how crucial features like stop loss orders, leverage, strategies, etc. work before you start trading in the live market. That’s what you must use demo accounts for. It may not guarantee success while live trading, but it surely helps in developing skills and understanding that help in the live market.
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