Importance of demo trading

Femilas posted:
The demo account is also a very good basis to overcome your fears.

Agreed, a great way to practice, test strategies and become more familiar to the market, without the risk of losing one's money.

there is no way to ignore the importance of demo but honestly speaking the experience we take from demo actually not works when trading in a live account. we the newcomers actually should choose the micro account instead of micro.

Tradelist45 posted:
there is no way to ignore the importance of demo but honestly speaking the experience we take from demo actually not works when trading in a live account. we the newcomers actually should choose the micro account instead of micro.

Yes, that's true. Execution speed is one of the reasons that why demo trading experience doesn't actually work in live trading. But off course a newbie shouldn't start directly on a live account even with the tiniest of the capital. First he must learn the basic concepts and then can proceed with a live account. And I think you meant 'Micro account instead of Standard'

I have been doing forex trading for many years and I still test my plan for a trade as I can't afford to lose my money. It’s a kind of homework, and trading in forex is like an exam. Have you ever sat in an exam hall without preparation ? No, right! So, always backtest your strategies and then trade live.

KnowFinance posted:
Through demo trading, one can examine his strategies, become aware about the trading platform, without risking any real money.

Yes, this is why I always suggest beginners to trade on a demo account first. Great way to practice and become known to the markets, without the risk of losing any funds.

Demo trading is the best way to learn Forex and get aware of the platform also, it helps to learn how to open and close positions, place orders, chart patterns, you can also have your trading history so that you observe your mistakes and then make a strong trading strategy before going to a live account. And the most important is in demo trading you do not risk your money.

And most importantly, the demo version can help in the future, when we work on a real account, for example, to work out a new strategy.

The demo account is the best tool for beginners to learn about forex market trades. Most importantly, the demo version can help in the future when beginners began to work on real accounts and develop strategies.

The more time you spend on a demo account and carefully work through all the points, the easier it will be for a real account.

I made good money on my demo now im urging to get on with the real thing

BaldoN posted:
I would say demo is good to test strategy, but not to overstay on demo trading for a long period - just to avoid acquiring bad habits :)

yaaas

practice is important and for that demo is a good choice , but i dont like this, i always try to maintain live account with minor balance . its supportive to acquire live knowledge and experience.

Demos are very good for practising and making sure traders don’t end up losing their money in an instant while trading live.

in Forex trading traders use demo according to their need , most beginners use this platform when start trading after basic knowledge , its the master place to practice in a proper way , it should not be ignored.

Demo account is a powerful platform for those who want to achieve results on a real platform

For me, demo trading is so useless (in my experience, at least). It's really only useful for familiarizing yourself with the platform, but with regard to actual trading, hasn't been that helpful for me. I mean, for real though, no one takes play money seriously lol. Dip your feet in the water! You can always start small, then just gradually increase it as you gain more experience.

It is free and traders can test real trading without any money.

LyudmilLukanov posted:
It is free and traders can test real trading without any money.

Yes. a demo can be very effective to learn forex properly.

I use demo now as well. it is the best. I can try different EAs and my own trades risk free. No point losing money unnecessarily