Newcomers and demo trading

for a beginner, please demo for at list six months. My best advice for a beginner is to learn how to trade, take your time and develop a good trading system that suits your trading style, work on it to perfection and look for a mentor who is good in forex to guide you towards achieving success before investing your money.

Demo until you feel your system works but six months is a long time. Invest $50 dollar in a trading account and try to double it. Once it's blown, start another until you double it. If you can't change $50 to $100, then adding more money is just going to stress you out more. Starting with a small account allows you to work on your emotions but also gives you opportunity to control you losers, secure profit and control risk. At the end of the day, this is a business so becoming a professional is the end goal so the faster you put a little skin in the game you'll know if your in the right business.

MP_89 posted:

Cizel89 posted:
Even I started with demo trading only. Its always better than to stake our money in the beginning itself.

how much time do you use demo acc? i think one month is enough to test my strategy with demo acc. what do you think?

Well I think it varies from person to person, some might excel it early, while others take time, depending on one's skills.

Those people who do not believe in a demo account and its important are just looking for trouble. They cause their very own downfall. A demo account is a ver good training ground for those who are still trying to figure out how things work out on forex trading. There have been some speculations of a demo account not being the same as the real deal trading. Do you guys have any experince like this? Demo accounts make trading seem easy untill you go live then things are just so hard. Some traders complain about this. I need confirmation if it is true. Any ideas.

Everything is always about beginners and demo accounts. The beginnersshould have knowmn this by now. Why would they be offered a demo account first before they go live. Anyone who skips the demo account has themself to blame. Only skip a demo account if you have switched to another plaftform which is not recommendable. You cannot just be a good trader without practice.

Duzragore posted:
Are you being able to understand what is going on here? Demo is mainly for getting around the whole Forex system and maybe a bit more things to drive you into the life or real account anyway. So please make it possible when you will be free.

😄

It’s even funny to discuss on the topic How any trader would master trading platforms. Or checked out a new strategy. Only loss of account.

Actually, the value depends on the traders approach. Many traders have been using the demo for a long time, but till now struggling; because they don’t know how to use this practice account at all.

Before start real trading you can test your strategy and plan on demo trading. Always start practicing with demo and after practice of some time you can go to real trading.

Demo first always. The micro account. There are so many mistakes that can be made trading. make them on a demo

Mulberry posted:
Demo first always. The micro account. There are so many mistakes that can be made trading. make them on a demo

I agree with you. Demo trading is just perfect to test everything. There's nothing to loose there but one gains a lot.

We can start Forex in a proper way, if we want to be a professional. Babypips School is the first choice of learning and besides this demo account must which is mainly considered the foremost place to acquire real basic knowledge which is very supportive to kick off a live account in a proper way.

The only issue with demo trading and why all brokers offer BIG accounts t is they lull you into a false sense!
i treated my demo account like a live account and traded with the actual same amount i was going to deposit on a live account..
Whats the point of having a $10,000 or $25,000 demo accuont if you only have the funds to start with $500.etc.this is why most blow there small live accounts straight away as trading with a big demo account and using bigger lot sizes etc you get beginners luck and over confidence...Anyone can win with time on a big demo account as its mentally different , believe me there is no way you will trade your hard earned $500 or even $1000 like your big demo account ! .
BUT this is why brokers offer this so you get overconfident get some big lucky newbie wins on demo and then go WOW Forex is easy i am gonna kill it and then lay down your REAL money...but once you realise the wins etc cant be as big, you over reach and over leaverage to try and match what you did you your demo..Next min boom your $500 is blown and you go again! its all rigged against you so be careful people is what i say...
as someone said above better to leanr with a small live account!
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Perhaps in this way they want to show how this will work.

Traditionally, many traders start with demo trading because it is a safer and more convenient way to learn how to trade from the inside.
But still, do not dwell on it too long, I think that the best option is a combination of demo and real trading, for a start with small amounts of course.

lucasser posted:
When i started trading in forex the first thing i was advised by traders was use the demo account before you go live.

I would say the same to all the new comers to trade in demo for long period of time before going live so that you would know how the live trading works and what plans can be created to avoid loss.

Yes even suggest that to all beginners. Demo is one of the best ways to practice and test strategies, without staking funds.

Smith88 posted:

lucasser posted:
When i started trading in forex the first thing i was advised by traders was use the demo account before you go live.

I would say the same to all the new comers to trade in demo for long period of time before going live so that you would know how the live trading works and what plans can be created to avoid loss.

Yes even suggest that to all beginners. Demo is one of the best ways to practice and test strategies, without staking funds.

Totally. That's the first and foremost step a beginner takes in the world of forex trading.

Roberto21 posted:
Learning is the foremost ways to keep survive in this volatile trading place in a proper way. But sorry to say maximum traders who are particularly newcomers try to make money from here without learning. As a result they become loser when trading practically. It would be great if we choose the broker which always ensures best trading environment for learning this trading place by providing exclusive educational facilities.

Very true. Learning is just one of the best and most reliable way in understanding and performing forex trading.

The demo account, of course, must be passed by newcomers to the new one, they must understand that it is also not worth staying there for long.