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Purpose of demo trading

Jan 27, 2021 at 12:28
2,818 Angesehen
89 Replies
Mitglied seit Jul 19, 2020   298 Posts
Jan 27, 2021 at 12:28
Demo is just to know how the system works and test your strategy. It is good if you know the winning ratio of your strategy by trading on demo. But usually most people use demo to see how much many they can make. They do not focus on creating a strategy. When you trade with real money, there works a fear of losing money. You become too much conscious about your decision. In demo you don't affected by any emotions like fear, greed and overwhelming joy.
Mitglied seit Jul 20, 2020   298 Posts
Jan 27, 2021 at 12:50
Demo helps to develop trading skills. It is very difficult to make money from trading if skills are not developed properly. So all types of analysis should be practiced by demo trading.
Mitglied seit Jul 23, 2020   869 Posts
Jan 27, 2021 at 16:31
It is a risk-free account designed to practice trading without losing any money. It is best way to start trading.
Mitglied seit Jul 19, 2020   788 Posts
Jan 31, 2021 at 12:50
Demo Trading is one of the means of developing skills. Through which it is possible to develop skills by trading.
Mitglied seit Jul 23, 2020   759 Posts
Jan 31, 2021 at 17:38
Demo account is designed for educational purpose. But demo traders lack emotion in trading which can be a problem later.
Mitglied seit Jul 20, 2020   298 Posts
Feb 02, 2021 at 02:45
Demo trading is the best field of education from which to gain real experience. As a trader, I always ask new traders to do demo trading.
Mitglied seit Nov 19, 2020   104 Posts
Feb 02, 2021 at 06:42
Demo trading is a great way for beginners, or I should say even for experienced traders, to test their strategies without the risk and fear of losing any money. Newbies in trading should always start with demo trading, and not live trading, do demo practice first and then gradually start live with little amounts.
Mitglied seit Jan 22, 2021   125 Posts
Feb 02, 2021 at 11:13
It is like a flight simulator for real pilots. Here demo trading simulates what exactly happens over the forex market. Forex trading is not a toy. For this reason, demo trading is provided as this will help new traders to test the platform and take hands on experience of the real market with virtual money.
Mitglied seit Dec 11, 2020   110 Posts
Feb 02, 2021 at 12:15
Yes, demo trading is very useful, not only because how you can try to strategize and improve your strategy but also try to implement the new strategy into trading so that you can always get better in future, but it is not same as live trading because there is no psychology factor putting in to it
Mitglied seit Dec 28, 2020   187 Posts
Feb 05, 2021 at 08:45
Demo trading is the best way to learn Forex, it helps to learn about the platform, how to open and close positions, place orders, observe your mistakes and then make a strong trading strategy before going to a live account.
Mitglied seit Nov 17, 2020   24 Posts
Feb 08, 2021 at 13:10
LyudmilLukanov posted:
It is a risk-free account designed to practice trading without losing any money. It is best way to start trading.
Yes Demo trade is a boon for new traders. It is like we are test driving a car without actually owning the car. It is completely risk free and without charges.
Mitglied seit Nov 19, 2020   104 Posts
Feb 09, 2021 at 05:08
illscarce874 posted:
Yes Demo trade is a boon for new traders. It is like we are test driving a car without actually owning the car. It is completely risk free and without charges.
Yup! Great for practice, but without any cost.
Mitglied seit Nov 23, 2020   15 Posts
Feb 09, 2021 at 05:09
I do agree demo trading can help you to get into the business of trading and it will help you to judge a broker but you would not be able to understand the emotional aspects of trading. It is very important because your trades depend on the confidence you hold.
Mitglied seit Sep 12, 2017   238 Posts
Feb 09, 2021 at 06:39
the purpose of demo trading is to try and implement all the strategies and plans one wants to try in the real account without losing the money.
Mitglied seit Oct 16, 2020   137 Posts
Feb 09, 2021 at 10:52
illscarce874 posted:
LyudmilLukanov posted:
It is a risk-free account designed to practice trading without losing any money. It is best way to start trading.
Yes Demo trade is a boon for new traders. It is like we are test driving a car without actually owning the car. It is completely risk free and without charges.
That’s an apt explanation.
Mitglied seit Nov 17, 2020   24 Posts
Feb 09, 2021 at 12:57
layerchazard posted:
I do agree demo trading can help you to get into the business of trading and it will help you to judge a broker but you would not be able to understand the emotional aspects of trading. It is very important because your trades depend on the confidence you hold.
Yeah, but there are many people in the market who do not know the meaning of the simple terms and charting techniques. When I started trading in the markets I did not know the meaning of the M1 charts. I started a demo with many brokers like etrade, ig, fxview and cityindex which helped me get familiar with a lot of things. So I think they are extremely important.
Mitglied seit Aug 26, 2020   78 Posts
Feb 09, 2021 at 14:33
Starting work with a demo account is the right decision, it will help to avoid many mistakes and I am very pleased that the Amarkets demo account and the real account are very similar and this gave me the opportunity to prepare well
Mitglied seit Dec 15, 2020   12 Posts
Feb 11, 2021 at 12:55
It is not just new traders who get benefited from demo trading but also professional traders because they can apply their strategies on the demo account before risking their money.
Mitglied seit Feb 23, 2021   330 Posts
Apr 18, 2021 at 09:28
A demo account is the best way to learn forex trading.
Mitglied seit Apr 17, 2021   20 Posts
Apr 18, 2021 at 13:10
The initial purpose of a demo account is to apply all your theoretical knowledge in practice and gain some experience.
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