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Is a demo account really neccassary?
Dec 19, 2022 at 11:37
Miembro desde Mar 21, 2022
posts 47
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.
Dec 23, 2022 at 10:46
Miembro desde Mar 11, 2022
posts 51
Imamul posted:
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.
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.
Miembro desde Oct 01, 2022
posts 51
Jan 03, 2023 at 14:24
Miembro desde Jul 02, 2020
posts 18
Cathedra posted:
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.
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!
Jan 04, 2023 at 09:15
Miembro desde Jul 02, 2020
posts 18
James_Bond posted:
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.
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!
Jan 09, 2023 at 13:48
Miembro desde Jul 02, 2020
posts 18
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!!
Miembro desde Oct 01, 2022
posts 51
Miembro desde Jun 26, 2020
posts 323
Miembro desde Jan 25, 2022
posts 89
Miembro desde Oct 01, 2022
posts 51
Jan 19, 2023 at 09:08
Miembro desde Dec 20, 2022
posts 5
I agree, and I have done it as well, but my thing is that I would rather use the demo to get the feel of my strategy and know its strengths and weaknesses before I do the micro lot. Doing this means that most of the time I am doing the micro lot, I continuously make money.
Also, I don't really make much money at my job. It literally pays me just enough to afford bills, and food. So I don't have the money to risk on the market while I am getting through my learning curve. So using the demo mode really does help me see the results of my strategy and method, before I skip out on paying a cell phone bill just to have enough money to start up in the market for the 3rd time
Also, I don't really make much money at my job. It literally pays me just enough to afford bills, and food. So I don't have the money to risk on the market while I am getting through my learning curve. So using the demo mode really does help me see the results of my strategy and method, before I skip out on paying a cell phone bill just to have enough money to start up in the market for the 3rd time
Feb 04, 2023 at 22:09
Miembro desde Feb 04, 2023
posts 5
dtpea posted:
I agree, and I have done it as well, but my thing is that I would rather use the demo to get the feel of my strategy and know its strengths and weaknesses before I do the micro lot. Doing this means that most of the time I am doing the micro lot, I continuously make money.
Also, I don't really make much money at my job. It literally pays me just enough to afford bills, and food. So I don't have the money to risk on the market while I am getting through my learning curve. So using the demo mode really does help me see the results of my strategy and method, before I skip out on paying a cell phone bill just to have enough money to start up in the market for the 3rd time
What happened firts two times. Why do you think that third time would be better?
Miembro desde Jan 31, 2023
posts 13
Feb 06, 2023 at 09:52
Miembro desde Jan 31, 2023
posts 13
Practice and learning: demo accounts provide a risk-free environment for traders to practice their skills, test out new strategies, and learn about the markets.
Experience: demo accounts can help traders gain experience in executing trades, managing risk, and navigating different market conditions.
Confidence building: by successfully executing trades and making profits on a demo account, traders can build confidence in their abilities and approach the real market with more assurance.
Experience: demo accounts can help traders gain experience in executing trades, managing risk, and navigating different market conditions.
Confidence building: by successfully executing trades and making profits on a demo account, traders can build confidence in their abilities and approach the real market with more assurance.
dom perignon
Miembro desde Feb 04, 2023
posts 18

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