Is demo trading enough before real account?

mlawson71 posted:
There's generally no other way but to move to a live account sooner or later. And regardless of how hard people train on a demo usually the first few months on a live account are difficult and not exactly profitable. Still, demo account training is absolutely necessary, as without the first few months wouldn't be difficult, they'd be a disaster.

I also agree here. Very useful tips shared on this topic.

After all, demo is used to practice what you learn and study about trading. I agree also with the points about getting a good grip of the platform. If someone is practicing on a daily basis, demo account expiration should not be an issue.

In my experience sometimes the demo account expires automatically after a set period of time regardless of how actively one trades, so you have to call the broker and to ask them to turn off that setting.

My 2 cents...

mlawson71 posted:
In my experience sometimes the demo account expires automatically after a set period of time regardless of how actively one trades, so you have to call the broker and to ask them to turn off that setting.

Yes, this demo expiration annoys me a lot! 😄

LLewis posted:

mlawson71 posted:
In my experience sometimes the demo account expires automatically after a set period of time regardless of how actively one trades, so you have to call the broker and to ask them to turn off that setting.

Yes, this demo expiration annoys me a lot! 😄

Keep moving around different providers if you feel the need to use demo.

mlawson71 posted:
In my experience sometimes the demo account expires automatically after a set period of time regardless of how actively one trades, so you have to call the broker and to ask them to turn off that setting.

I think that here we traders must understand brokers. By many brokers nothing prevents from constant creating of host of accounts and I think many of us just leave them without using. As the result, as far as I see it, demo servers are overfilled with unnecessary garbage

Madjarrah posted:
By many brokers nothing prevents from constant creating of host of accounts and I think many of us just leave them without using. As the result, as far as I see it, demo servers are overfilled with unnecessary garbage

Well, yes, that's true. I think it's reasonable to have some kind of expiration rule but not just based on duration as also nothing stops the trader to open a new demo account. This could avoid the annoying account reopening after 15/30 days even if you use actively the demo.

@Madjarrah btw, since you mentioned the broker perspective, I hope the big brokers are reading such discussions to understand what irritates their clients and what can be done better 😄

Madjarrah posted:

mlawson71 posted:
In my experience sometimes the demo account expires automatically after a set period of time regardless of how actively one trades, so you have to call the broker and to ask them to turn off that setting.

I think that here we traders must understand brokers. By many brokers nothing prevents from constant creating of host of accounts and I think many of us just leave them without using. As the result, as far as I see it, demo servers are overfilled with unnecessary garbage

I am aware of that, I wasn't criticising brokers for doing it. I just wanted to say what I do to make sure my demo account doesn't get closed.

snapdragon1970 posted:
Hi Lucie,

I would advise people to get professional training if they can,before they enter live markets.Demo is fine to test different strategies.One way to prepare you for live markets is to work with a small amount of cash in your demo,say 5000 or less,this way you will be more careful with how your trading and you will feel a bit of pressure to protect it.



Be lucky!

Where one gets professional trading that one can trust? I almost bought the LearnHowToTrade 3 days course for $5k but after investigating a bit more it seems like I was going to waste my money there.
I asked help at another forum and people almost threw rocks at me saying that I can learn everything by myself and for free.

I, in the other hand, do very much believe in the power of education, when delivered by real professionals. So... where can I learn?

fcaldas posted:

snapdragon1970 posted:
Hi Lucie,

I would advise people to get professional training if they can,before they enter live markets.Demo is fine to test different strategies.One way to prepare you for live markets is to work with a small amount of cash in your demo,say 5000 or less,this way you will be more careful with how your trading and you will feel a bit of pressure to protect it.



Be lucky!

Where one gets professional trading that one can trust? I almost bought the LearnHowToTrade 3 days course for $5k but after investigating a bit more it seems like I was going to waste my money there.
I asked help at another forum and people almost threw rocks at me saying that I can learn everything by myself and for free.

I, in the other hand, do very much believe in the power of education, when delivered by real professionals. So... where can I learn?

You could look at Lex van dam,Anton kreil,Peter brown,Gary norden that's just a few I would think about looking at.

snapdragon1970 posted:

fcaldas posted:

snapdragon1970 posted:
Hi Lucie,

I would advise people to get professional training if they can,before they enter live markets.Demo is fine to test different strategies.One way to prepare you for live markets is to work with a small amount of cash in your demo,say 5000 or less,this way you will be more careful with how your trading and you will feel a bit of pressure to protect it.



Be lucky!

Where one gets professional trading that one can trust? I almost bought the LearnHowToTrade 3 days course for $5k but after investigating a bit more it seems like I was going to waste my money there.
I asked help at another forum and people almost threw rocks at me saying that I can learn everything by myself and for free.

I, in the other hand, do very much believe in the power of education, when delivered by real professionals. So... where can I learn?

You could look at Lex van dam,Anton kreil,Peter brown,Gary norden that's just a few I would think about looking at.

Thank you! I will look this guys up.

fcaldas posted:

snapdragon1970 posted:
Hi Lucie,

I would advise people to get professional training if they can,before they enter live markets.Demo is fine to test different strategies.One way to prepare you for live markets is to work with a small amount of cash in your demo,say 5000 or less,this way you will be more careful with how your trading and you will feel a bit of pressure to protect it.



Be lucky!

Where one gets professional trading that one can trust? I almost bought the LearnHowToTrade 3 days course for $5k but after investigating a bit more it seems like I was going to waste my money there.
I asked help at another forum and people almost threw rocks at me saying that I can learn everything by myself and for free.

I, in the other hand, do very much believe in the power of education, when delivered by real professionals. So... where can I learn?

You can try Jarratt Davies professional training program. It is the same program that all his junior traders have to take. The best part of it is free.

JD has been ranked by Barclays Hedge as the 2nd top currency trader for 6 consecutive years by trading performance. They are trading results that are externally verified and not claims as made often by some of the forex marketeers.

Dove_Services posted:

fcaldas posted:

snapdragon1970 posted:
Hi Lucie,

I would advise people to get professional training if they can,before they enter live markets.Demo is fine to test different strategies.One way to prepare you for live markets is to work with a small amount of cash in your demo,say 5000 or less,this way you will be more careful with how your trading and you will feel a bit of pressure to protect it.



Be lucky!

Where one gets professional trading that one can trust? I almost bought the LearnHowToTrade 3 days course for $5k but after investigating a bit more it seems like I was going to waste my money there.
I asked help at another forum and people almost threw rocks at me saying that I can learn everything by myself and for free.

I, in the other hand, do very much believe in the power of education, when delivered by real professionals. So... where can I learn?

You can try Jarratt Davies professional training program. It is the same program that all his junior traders have to take. The best part of it is free.

JD has been ranked by Barclays Hedge as the 2nd top currency trader for 6 consecutive years by trading performance. They are trading results that are externally verified and not claims as made often by some of the forex marketeers.

Awesome, thanks for helping me out! I will look him up :-)
I wish there was a fully acredited 'Trading University' you could just join and become then a trader. A real undergrad program. Would totally do it :)

According to me, Demo just gives you the vision of things, but cannot learn you - it's just not enough, it's just not real!!!
When you risk real money, then you'll get the real feel!

snapdragon1970 posted:

fcaldas posted:
Where one gets professional trading that one can trust? I almost bought the LearnHowToTrade 3 days course for $5k but after investigating a bit more it seems like I was going to waste my money there.
I asked help at another forum and people almost threw rocks at me saying that I can learn everything by myself and for free.

I, in the other hand, do very much believe in the power of education, when delivered by real professionals. So... where can I learn?

You could look at Lex van dam,Anton kreil,Peter brown,Gary norden that's just a few I would think about looking at.

Very good point of reference. Lex van Dam is quite famous and a great source for learning the trading specifics! Good luck in finding your role models and mentors!

fcaldas posted:
I wish there was a fully acredited 'Trading University' you could just join and become then a trader. A real undergrad program. Would totally do it :)

Actually I think there are Universities that run different courses on finance and investment. This could help you get the good grip of the fundamentals. Check in your local area. I would also add that you can look for the global technical analysis associations and join their certificate programs. Such education is for sure unbiased 😄

There is a good course on Corporate Finance and Valuation ran by Aswath Damodaran its more related to stocks but will give you some valuable insight.