Purpose of demo trading
Oct 28, 2021 at 09:29
@Willowerno Without Demo trading if anyone wants to Forex trading, he has to lose a lot of money just to get basic ideas of how trading works.
Oct 28, 2021 at 23:07
Although beginner traders can jump to use the real account, however, it's not good to step, and maybe will close to suicide account, trading forex looks simple in theory, but actually complex and complicated in reality, this is need skill to work profitable, demo account is a good and free place to learn how to manage money and finding good and suitable trading strategy.
Mitglied seit Feb 20, 2021
53 Posts
Oct 29, 2021 at 04:47
Demo trading gives real-time experience. You can place trades and see how the market responds without losing money. When you feel comfortable enough, switch to real trading with a real account.
Mitglied seit Aug 10, 2021
176 Posts
Nov 01, 2021 at 01:34
Demo accounts are meant for everyone, whether a newbie or an expert. While demo accounts can be used by any trader, it is best for newbies since they have little knowledge of forex, as well as, to learn how to minimize losses and maximize profits. Demo accounts are almost like real accounts. Their only difference is that they are not real.
Mitglied seit Jun 16, 2021
111 Posts
Nov 01, 2021 at 05:39
The biggest advantage of demo trading is that you don't need to add additional funds to your account to trade, so you don't have to worry about funding the demo account. It will help you to find out whether you will be able to make money with it before you take any unnecessary risks and spend money for real.
Nov 01, 2021 at 07:18
Michihito posted:Demo trading is something, which must be taken very seriously by every single Forex trader. A trader must devoted himself in demo trading at least for a year. He also is to make sure that he trades on demo as if he is trading on a live account. Once he is confident, he may switch to live trading. A demo account is still need to be maintained by a full time trader to check his strategies.
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.
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