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DEMO ACCOUNT vs LIVE ACCOUNT

mlawson71
May 27 2017 at 08:22
1487 Posts
Bohdan73 posted:
Professional4X posted:
I agree with you. If a person develops good skills, controlled emotional discipline, and a solid understanding of what really moves the markets, you can make a very good income from trading. But it takes a lot of work and education in order to make a good income from it.


This is the holy grail of trading what you explain. Everyone should strive for it 😄 I agree that it takes lot of work!


I agree. That is the only holy grail of trading, in my opinion - hard work. To study, to practice, to learn from one's mistakes. There are no shortcuts.

manolo83 (manolo83)
May 30 2017 at 06:36
11 Posts
12 months demo and since 10 month with real

mlawson71
May 31 2017 at 12:01
1487 Posts
manolo83 posted:
12 months demo and since 10 month with real


Are you satisfied with the results of either?

UweMoench
Jun 29 2021 at 12:53
751 Posts
The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.

lavaplanet
Jun 30 2021 at 12:56
9 Posts
UweMoench posted:
The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.



I cannot add any more. This post IS the answer to the thread

AndrewMcCalam54
Jul 01 2021 at 13:23
103 Posts
the main different between demo and live is all about psychology , nothing without it , in reality there is no technical different between two.

RobSchiz
Jul 01 2021 at 17:36
567 Posts
UweMoench posted:
The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.

Demo account is the most effective way to learn forex properly.

LyudmilLukanov
Jul 06 2021 at 13:25
793 Posts
Both accounts are essential for learning.

MauMar
Jul 06 2021 at 18:09
5 Posts
I would suggest starting out with a demo account for at least a year before attempting to trade on a live account. You should minimalize your risks.

RobertFerrari
Nov 11 2021 at 08:01
371 Posts
MauMar posted:
I would suggest starting out with a demo account for at least a year before attempting to trade on a live account. You should minimalize your risks.

You are right.

Akasuki
Dec 22 2021 at 05:49
500 Posts
LyudmilLukanov posted:
Both accounts are essential for learning.

Basically they both are same the difference is that the live account has real money involved, although you have traded in the Demo accounts , their is this psychological factor comes into play which might hinder your decisions.

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