Every newbie should practice

Mar 09, 2021 at 12:37
2,489 Angesehen
40 Replies
Mitglied seit Jul 19, 2020   298 Posts
Mar 09, 2021 at 12:37
Every newbie should practice in their demo account. Demo trading is very much important for every newbie. Because you can know many thing from this. But many newbies think that Demo trading is really dull as they have to do this for a long time. Moreover they won't get any real money from this demo trading.
Mitglied seit Jul 19, 2020   751 Posts
Mar 09, 2021 at 13:02
Yes practicing in demo is very beneficial. It is the place where we can develop our strategy and test our strategy without losing money.
Mitglied seit Jul 19, 2020   788 Posts
Mar 09, 2021 at 14:13
Every trader needs to gain experience by practicing demo trading. If you can't create a strategy by trading demo, then it is not possible to trade at a profit.
Mitglied seit Jul 23, 2020   869 Posts
Mar 09, 2021 at 17:44
True. Always start trading with a demo account. It is the best way to learn without losing money.
Mitglied seit Jul 23, 2020   759 Posts
Mar 09, 2021 at 17:53
AliaDare posted:
Every trader needs to gain experience by practicing demo trading. If you can't create a strategy by trading demo, then it is not possible to trade at a profit.
Traders need a profitable strategy in trading market. Demo account is the best place to build and improve a trading strategy.
Mitglied seit Dec 28, 2020   187 Posts
Mar 10, 2021 at 08:23
Yes after a point you feel bored with demo trading because you don’t earn anything. This is why now I have started live trading with micro lots and also trade on a demo account to test my strategies.
Mitglied seit Sep 07, 2020   63 Posts
Mar 10, 2021 at 10:25
Sarjohn posted:
Yes after a point you feel bored with demo trading because you don’t earn anything. This is why now I have started live trading with micro lots and also trade on a demo account to test my strategies.
Going good mate. Demo trading is good for backtesting and initial familiarity but eventually, its live trading that tells how you're doing. When real money is involved, the scenario is different, so starting with a small amount is a wise decision for few months of demo.
Mitglied seit Dec 28, 2020   187 Posts
Mar 11, 2021 at 11:39
radioactive posted:
Sarjohn posted:
Yes after a point you feel bored with demo trading because you don’t earn anything. This is why now I have started live trading with micro lots and also trade on a demo account to test my strategies.
Going good mate. Demo trading is good for backtesting and initial familiarity but eventually, its live trading that tells how you're doing. When real money is involved, the scenario is different, so starting with a small amount is a wise decision for few months of demo.
Yes and till now I am in profit not so much but still gaining profit. How are you going?
Mitglied seit Feb 04, 2021   31 Posts
Mar 11, 2021 at 12:19
For beginners, it is important to gain sufficient knowledge and experience to excel in Forex. Demo trading is definitely the best way to practice and learn about Forex trading to make it effective.
Mitglied seit Oct 11, 2012   18 Posts
Mar 11, 2021 at 13:35
In real life, no one open shop by playing monopoly first.
Or being the best in monopoly doesn't mean success with real business.

Forex is a business, so why treat it differently with others?

You just do it with real money. Gain experiences. Learn, do your homeworks, follow real traders, and then start from small. Losing is part of the game. You won't get that feeling from demo account.

Demo account is only for backtesting NEW strategy, manual or automatic.
Low Profile High Profit
Mitglied seit Jun 26, 2020   327 Posts
Mar 12, 2021 at 05:48
without practice any level of trading can be useless , so we the traders first of all have to make sure real practice session.
Mitglied seit Aug 11, 2017   886 Posts
Mar 12, 2021 at 06:14
Greed and emotions almost same. Generally beginners attacked by this common human nature. We can control this by proper trading practice as well great discipline.
Mitglied seit Jul 19, 2020   298 Posts
Mar 13, 2021 at 12:42
Newbie should avoid scalping as it can ruin their trading psychology. Most traders develop overtrading habit by doing scalping in their early trading life. Then they struggle to change that habit.
Mitglied seit Mar 13, 2018   13 Posts
Mar 15, 2021 at 13:23
Many are attracted to Forex as a get rich quick scheme but do not want to put any work in at all. It is no surprise that they lose all their money
Mitglied seit Jul 19, 2020   788 Posts
Mar 16, 2021 at 01:02
SofieAndreasen posted:
AliaDare posted:
Every trader needs to gain experience by practicing demo trading. If you can't create a strategy by trading demo, then it is not possible to trade at a profit.
Traders need a profitable strategy in trading market. Demo account is the best place to build and improve a trading strategy.
Yes, why waste money on unnecessary education. Since the broker is allowing me to do demo trading, I can develop a strategy from it without spending any money.
Mitglied seit Nov 06, 2018   83 Posts
Mar 16, 2021 at 14:30
For sure, demo trading is useful to get started. It's important to have a consistent strategy that you are profitable with before going live. There is no point in going live with no idea what you are doing.
Mitglied seit Apr 25, 2020   119 Posts
Mar 22, 2021 at 14:40
Practice, practice again and practice again - this is what should be constantly.
Mitglied seit Jan 05, 2021   11 Posts
Apr 02, 2021 at 04:32
Practising is the key to getting better and earning some money in forex. Can’t get anywhere without it.
Mitglied seit Jun 26, 2020   327 Posts
Apr 02, 2021 at 05:24
i always try to keep practice in demo or live , because i know very well only this practice issue can keep my trading result well. in Forex trading there is no way to stop practicing in spite of having good knowledge and experience.
Mitglied seit Aug 07, 2020   75 Posts
Apr 02, 2021 at 06:04
I believe that you are doing the right thing because a demo account gives us the opportunity to really preserve our childhood and devotion to prepare for what will happen on a real account
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