Importance of demo trading

Akasuki posted:

AliaDare posted:
Demo account provides fake money which is very best to practice. Demo platform is very important for developing knowledge.

Demo trading isn't for those who are proficient in trading. Demo accounts allow us to test our strategies and strategies. We can gain knowledge on how to implement our strategies through a demo.

Of course, demo trading is a platform where the trader can develop his career. Knowledge of live trading can be gained by trading on this platform.

Lots of new traders neglect demo trading, because they suppose that they have to start off from a real account, because only in this case they will be able to earn money. Actually, some traders can be successful without demo trading, nevertheless, the vast majority of traders is obliged to start off from demo account. It teaches them how to understand all the moves on the market. The main goal of demo account is to meet a trader with the techniques of trading. I believe that traders should try to stay on demo at least couple of days, in order not to have difficulties on the real account actually.

the demo account can bring good experience if you focus greatly , otherwise the knowledge from demo can be useless.

If we confined to earning only technical knowledge, it won’t be a good idea for us. So we need to focus on the news trading as well!

Andromaris posted:
Lots of new traders neglect demo trading, because they suppose that they have to start off from a real account, because only in this case they will be able to earn money. Actually, some traders can be successful without demo trading, nevertheless, the vast majority of traders is obliged to start off from demo account. It teaches them how to understand all the moves on the market. The main goal of demo account is to meet a trader with the techniques of trading. I believe that traders should try to stay on demo at least couple of days, in order not to have difficulties on the real account actually.

thanks for your nice detail , got some fine line.

Market analysis and broker are also a vital part of trading because brokers play part on behalf of you.

Demo trading is good because it gives the trader time to figure out which style they wish to trade in. It also gives them an overall idea of what to do during the process so they don’t find themselves lost during live trading. Practice is important.

Demo trading serves as a learning tool, and in the foreign exchange market, one's level of knowledge and expertise cannot be neglected. Therefore, using a demo account for education and training purposes is crucial.