Apr 25 at 10:08
Yes, a demo account is really important if you want to trade in forex as this will help you to get familiar with the market. Once you get the basics all cleared, then you will be prepared enough to trade through a live account.
Apr 25 at 10:19
right now using demo and using price action trading strategy in there to see the performance how it works.
Apr 27 at 06:22
To some extent, it is. You need to understand the basic functions of the market and trading platforms before you use your real money. This is exactly what a demo account helps you with. But don’t depend too much on your demo account results since it’s just a simulator.
Apr 27 at 06:37
Davidfx89 posted:
right now using demo and using price action trading strategy in there to see the performance how it works.
Well said, actually Price Action trading strategy is so powerful technical aspect to follow! In my live trading, I also use the PA trading! Besides, demo account is the best place to practice with!
Apr 27 at 06:44
In a way, YES! It’s a fact that you may not get live trading experience on your demo account. But it is also true that you can invite huge losses if you don’t practice on a demo account where you can learn how to use trading software, how to execute a trade, how to make settings, etc.
May 02 at 09:20
Practising on a demo account is important and should not be neglected. It helps traders to understand the platform they are trading in and the working of the market.
May 03 at 06:18
Yes, demo accounts are not only for beginners; even experienced traders use them to develop new strategies and skills to avoid making mistakes during live trading.
As far as I am aware, certain brokers, such as Avatrade and FP Markets demo accounts, provide educational materials for new traders, like video tutorials and e-books, to learn about forex trading.
As far as I am aware, certain brokers, such as Avatrade and FP Markets demo accounts, provide educational materials for new traders, like video tutorials and e-books, to learn about forex trading.
Jun 16 at 05:10
It depends but I personally think that a demo account is necessary as it gives you the experience and overall view of the market without you losing as much as a cent.
Jun 17 at 06:16
demo is important but sometimes instead of demo i like to trade on micro.
Jun 21 at 08:21
but micro account can make beginners level emotional and greedy.
Jun 21 at 15:13
Davidfx89 posted:Hi bro, it’s more than one year & what’s going on there? I’m really interested to know your current trading status!
right now using demo and using price action trading strategy in there to see the performance how it works.
Jun 23 at 07:18
While you may make a strong point, a demo account is also best for beginners to test out new strategies and give the trader an overall idea of how things work in the live market, which may increase confidence and make them less insecure about making on the spot decisions. It’s a great way to practice trade and understand techniques and methods.
Jul 08 at 07:41
I agree with your opinion, but I think that a demo account will help newbies learn better about the world of trading. When a newbie is trading with real money with a small account, the loss will still make them feel something, as they lost their money, however small. They will not feel that way in a demo account. They will learn about the market, and they will be able to judge and tweak their strategies. A demo account has certain drawbacks, but I don’t think that newbies should eliminate a demo account from their learning path.
Jul 13 at 06:35
Yes, a demo account is essential, especially if you are a beginner. Demo accounts will assist you in developing your own strategies that will ultimately benefit you in your real account.
Jul 14 at 04:50
Demo account only helps the trader understand what may happen during the live process, although the demo practice only gives you a taste, you won’t be prepared for real loss. So, stay strong mentally and practice until you have back tested different strategies to get the best outcome. It boosts confidence and gives the trader a better idea on market sentiment.
Jul 18 at 06:28
No. It is not mandatory to trade with a demo account, but why don't you want to trade with demo accounts? Nobody starts making hundreds of dollars on their first day of trading. Demo accounts are there to help you build trading skills and get familiar with the trading system until you are ready to take actual risk.
Jul 18 at 06:59
Demo trading is not really disastrous in my opinion. I would say jumping into live trading without any experience is far more disastrous. New traders should just understand that there is a difference between trading on a demo account and replicating the same trades on a live account. Demo trading is helpful in many ways if a trader uses it properly.
Jul 20 at 08:10
When I first started trading, I used a demo account to associate myself with the method, which has helped me understand where I am heading as a trader.
Jul 21 at 10:32
Demo trading is a must for every beginner in my opinion. Starting with a real account in the first place will be confusing and overwhelming for them. Also, it helps us to check the trading conditions offered by a broker. And even experienced traders use demo accounts for forward testing their strategies. I still use my demo account along with a live account as it helps me learn and test my trades without risking real money in the first place.
Jul 29 at 06:38
Even if you ultimately decide to trade live, demo trading can still be very beneficial. Before using real funds, you can test your strategies in a demo account.
