@bridgekarate Yes demo trading is not for being experienced in trading. Demo account helps us to try our strategy and plans. We can learn how to execute our plans on demo.
That's true. It is so funny when people boast about their trading success on demo accounts. Surely, these are two different things: live account and demo account. It is not only because of psychological factors, but also because the mechanics of trading. Like, there are no slippages and delays in demo accounts, unlike the real ones. So, the overall experiences are completely different.
Aug 30 2021 at 08:45
BalPaper posted:
That's true. It is so funny when people boast about their trading success on demo accounts. Surely, these are two different things: live account and demo account. It is not only because of psychological factors, but also because the mechanics of trading. Like, there are no slippages and delays in demo accounts, unlike the real ones. So, the overall experiences are completely different.
I think demo is the best place to learn and practice.
Aug 30 2021 at 10:14
Definitely demo accounts are useful to get the feel of the trading world. It allows the trader to become familiar with the market and to understand the risks so that the trader can develop the skills accordingly.
And I think that a demo account is a very important aspect for making a profit. After training, it will be much easier for a trader to achieve high results.
using only a demo is too little to get the experience that will help you make a profit in Forex
@Unellene Yes demo helps us to understand how trading work. It is also the place to apply your knowledge that you have learned so far.
Oct 26 2021 at 19:33
Unellene posted:
using only a demo is too little to get the experience that will help you make a profit in Forex
A demo can be the best option to make your strategy effective.
Nov 01 2021 at 05:22
Demo trading is an excellent way to enhance your trading skills and strategies. However, it can’t make you a pro in trading because real trading involves emotions and requires proper risk & money management, which comes with practise and after a few trades.
Nov 01 2021 at 07:51
Willowerno posted:
Demo trading is an excellent way to enhance your trading skills and strategies. However, it can’t make you a pro in trading because real trading involves emotions and requires proper risk & money management, which comes with practise and after a few trades.
Demo trading definitely serves a purpose but you're right in that it is not like live trading. Watching ticks go against you tests your mental strength and ability to trust in the strategy that demo cant give you. But experience is so key and that will resolve most issues like that
Nov 01 2021 at 11:56
CraigMcG2020 posted:Willowerno posted:
Demo trading is an excellent way to enhance your trading skills and strategies. However, it can’t make you a pro in trading because real trading involves emotions and requires proper risk & money management, which comes with practise and after a few trades.
Demo trading definitely serves a purpose but you're right in that it is not like live trading. Watching ticks go against you tests your mental strength and ability to trust in the strategy that demo cant give you. But experience is so key and that will resolve most issues like that
Yeah right!
Emotional management is something which can be learnt on live account only.
While it won't 100% prepare you, at the end of the day the numbers are the same on a a screen and trading with a demo account that is likely to widely differ from your live trading account size won't help. Get used to the lot sizes you will be using live. Get used to seeing the numbers on screen both for and against you. If you aren't winning on demo then why are you going live? These are all things that need to be thought about. I think the issue is a lot of people struggle being honest with themselves about their skill level when they go live.
If you can't spot the liquidity then you are the liquidity.
Nov 01 2021 at 13:24
Using a demo will not make you an expert but most people are beginners and a demo account is a great way to learn in a safe environment
On the contrary, I think a demo account is a great option to gain experience. At least when I started working with a broker, I did just that.
Nov 02 2021 at 03:58
No doubt that demo trading is an excellent way to increase your trading skills, but it can’t fully prepare you for the market. Live trading is different from the demo in many aspects: it requires traders to be emotionally alert with proper risk & money management. With only time and experience, one can become a better trader.
Nov 11 2021 at 05:40
It's true that demo account forex trading is not the same as live trading, but there are advantages to starting with a no-risk environment. Besides helping you stay in control of your trades and manage risk more easily, it enables traders to try new strategies without risking real money or wasting time learning ineffective methods.
Nov 15 2021 at 06:23
A demo account is necessary for beginners to test their skills and try various trading conditions. Earning virtual profits on demo accounts further boosts the confidence of a newbie.
Traders can use demo trading as a learning tool before trading with real money. They can learn how money management affects their profit or loss.
Nov 16 2021 at 10:22
making profits on demo account might seem easy, but on a real account emotions interfere and your real money is involved and that is what makes profit making challenging.
