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Purpose of demo trading
Jan 27, 2021 at 12:28
Mitglied seit Jul 19, 2020
298 Posts
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
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Feb 02, 2021 at 06:42
Mitglied seit Nov 19, 2020
104 Posts
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
Mitglied seit Jan 22, 2021
125 Posts
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.
Feb 02, 2021 at 12:15
Mitglied seit Dec 11, 2020
110 Posts
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 Nov 17, 2020
24 Posts
Feb 08, 2021 at 13:10
Mitglied seit Nov 17, 2020
24 Posts
LyudmilLukanov 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.
It is a risk-free account designed to practice trading without losing any money. It is best way to start trading.
Mitglied seit Nov 23, 2020
15 Posts
Feb 09, 2021 at 05:09
Mitglied seit Nov 23, 2020
15 Posts
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 10:52
Mitglied seit Oct 16, 2020
137 Posts
illscarce874 posted:That’s an apt explanation.LyudmilLukanov 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.
It is a risk-free account designed to practice trading without losing any money. It is best way to start trading.
Mitglied seit Nov 17, 2020
24 Posts
Feb 09, 2021 at 12:57
Mitglied seit Nov 17, 2020
24 Posts
layerchazard posted: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.
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.
Feb 09, 2021 at 14:33
Mitglied seit Aug 26, 2020
78 Posts
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

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