Purpose of demo trading
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 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.
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.
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 Nov 17, 2020
24 Posts
Feb 08, 2021 at 13:10
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
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.
Feb 09, 2021 at 10:52
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
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.
