demo vs live
Feb 23, 2013 at 20:34
Vistas 825
8 Replies
Miembro desde Jul 03, 2012
posts 186
Feb 28, 2013 at 21:25
SAJ1011 posted:
Hello community,
Am I missing something or are all the 'strategies' under strategy tab on demo accounts?
is it not possible to sort out the demo vs live?
is there a section in here that only displays live accounts?
thanks
I would not waste my time with demo accounts. Demo accounts do not give you the psychological training you need. You can do great in your demo account and fail horribly in your live account.
Pax puts the X in Forex.
Miembro desde Mar 01, 2013
posts 2
Mar 02, 2013 at 11:14
Hi. I’m Sarah from ThinkForex. I agree that live accounts are better because you really don’t know how well you’ll do until there’s money on the line. But, there are still many benefits of first developing your strategy in a demo account and thoroughly testing your trading plan without any risk. I try to develop my process in demo trading and then go live. ThinkForex demo accounts use real data, actual market conditions, and the same low spreads as live accounts so they do a pretty good job at realistically imitating Forex trading.
Miembro desde Feb 28, 2013
posts 4
Mar 04, 2013 at 08:19
TheLastBear posted:
I would not waste my time with demo accounts. Demo accounts do not give you the psychological training you need. You can do great in your demo account and fail horribly in your live account.
You're absolutely right about the psychological training and the lack of it on the demo accounts. But I think it's impossible to start trading well without any experience at all. Demo account supposed to be used for training and they can surely give some useful experience.
Miembro desde Jul 03, 2012
posts 186
Mar 06, 2013 at 15:08
When it comes down to it, each traders should do as they think is best. I do not like demo accounts and when I first started to trade I went live from the start. I only traded 0.01 lots so I did not blow my account right away and learned without wasting my time. I can always replenish a trading account, I will never make up for lost time.
Pax puts the X in Forex.
Miembro desde Nov 09, 2012
posts 76
Mar 19, 2013 at 09:34
TheLastBear posted:
When it comes down to it, each traders should do as they think is best. I do not like demo accounts and when I first started to trade I went live from the start. I only traded 0.01 lots so I did not blow my account right away and learned without wasting my time. I can always replenish a trading account, I will never make up for lost time.
Using demo account is a good idea, because you can test your trading strategy here. Even if you trade with small lots, it's sort of expensive variant of education.
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
Miembro desde Jul 03, 2012
posts 186
Mar 19, 2013 at 14:53
RollingStones74 posted:TheLastBear posted:
When it comes down to it, each traders should do as they think is best. I do not like demo accounts and when I first started to trade I went live from the start. I only traded 0.01 lots so I did not blow my account right away and learned without wasting my time. I can always replenish a trading account, I will never make up for lost time.
Using demo account is a good idea, because you can test your trading strategy here. Even if you trade with small lots, it's sort of expensive variant of education.
You will not know if your strategy works until you test it in a live account which makes demo accounts useless.
Pax puts the X in Forex.
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