Yes, learning is important, but without any kind of regular practice, any kind of learning can be useless. There is no way to deny it.
Dec 14 2022 at 22:10
absolutely, before risking your own personal funds. It is ideal to start a demo account and get a feel for trading however, the only difference between demo accounts & live accounts is your mentality. You’re willing to watch a demo account tank to see if you’re right, but would you risk a percentage of your own money to see if you’re right? also, with both being transparent, you’re able to identify your mistakes without your results being altered.
Five Hundred A Day, Will Take The Pain Away,
I would say no. You're better to through out a small amount you can lose, to feel the emotion. Trading is a mind set, controling your emotion. you will never feel that on a demo account! trust me, been there, done that!
Indeed, demo trading accounts are invaluable for novice traders. who are either not market savvy at all or have only a basic understanding of it. Using a trading simulator or 'demo account,' they can get a feel for the market and practise their trading skills risk-free. Demo trading is a must for new traders. It is advantageous to become acquainted with the market and to gain practical knowledge.
Demo trading is beneficial in some ways. When a newcomer enters the forex market, demo trading assists them in learning and honing their skills. Demo trading allows even seasoned investors to test the viability of their trading strategies before committing real money.
instead of demo i think it is more appropriate to trade in a micro account even though it is some expensive issue but effective compare to demo.
A demo account is a must. But if you wish to gain more experience and if your capital allows you, you can start trading using a micro account. It has its own perks.
Imamul posted:It is crucial to keep in mind that trading on a demo account does not guarantee success because it does not aid in the proper development of trading psychology, which is a crucial component of trading on a live account. It can affect trades if traders lack the proper trading psychology.
instead of demo i think it is more appropriate to trade in a micro account even though it is some expensive issue but effective compare to demo.
Not only for new traders, but a Demo account is also necessary for experienced traders. It is an amazing tool for trading and practising without losing money. You can backtest your strategies and avoid making mistakes on the live account.
Dec 28 2022 at 07:04
Depends on the mindset of traders whether they think it is an absolute necessity or not, but personally, as an experienced trader myself, I would say a demo account is necessary. You must engage in the trade and observe price movement. Additionally, you have to test out fresh approaches right away. And a demo account is great for that as you don’t risk losing anything.
that is really a important topic , mindset is really important to lead a perfect trading as well real life. without mindset your trading condition as like a ship in an ocean without a rudder.
Jan 02 at 12:16
at the moment i am using demo where all exotic pairs i have been using to see the performance how it works. this approach is really good
Jan 03 at 13:09
this approach is okay , but my question is , it work in a real account at all ?
Cathedra posted:100% - If you have to ask if it is necessary to test your system AND any changes after the beginning on a demo account before going live - well let's just say you are gambling, not trading!
Not only for new traders, but a Demo account is also necessary for experienced traders. It is an amazing tool for trading and practising without losing money. You can backtest your strategies and avoid making mistakes on the live account.
A demo account is your opportunity to learn, it would be foolish not to use it.
James_Bond posted:This statement I will agree with - get your ducks in a row before you go live - even a micro account can make you negative about trading if it is blown!
Abhinav posted:
But demo accounts are andavantageous for experimenting new skills or strategies. We can test new strategies without risking money.
Let me correct myself - it is indeed good for testing new strategies, however what I meant is using it for a long time by newbie traders, getting them to lose grip from the real world.
Jan 09 at 13:30
Glossy posted:this is okay , but as a beginner trader that is really challenging to continue a demo account with low patience.
A demo account is your opportunity to learn, it would be foolish not to use it.
OK this is going is circles - so I want to make two statements:
1: To trade you need to have a working system - to test this system you need to test it without too much extra baggage (psychology, etc.) - using a demo account!
2: If your system works to your liking, you can then go to the next step to test your execution of this working system in real time on a live account .
If you combine everything from the start and get negative results - how can you pinpoint what the reason is?? Are you poor at real time trading or is your system flawed?
Another component before starting live testing on demo is Back Testing, so crawl, walk and then run!!
1: To trade you need to have a working system - to test this system you need to test it without too much extra baggage (psychology, etc.) - using a demo account!
2: If your system works to your liking, you can then go to the next step to test your execution of this working system in real time on a live account .
If you combine everything from the start and get negative results - how can you pinpoint what the reason is?? Are you poor at real time trading or is your system flawed?
Another component before starting live testing on demo is Back Testing, so crawl, walk and then run!!
Jan 09 at 14:50
sad reality this is . no way to avoid
Jan 11 at 04:56
we all know the importance of demo but we never utilize this place at all. this is a sad reality.
