Demo can not make you well experienced
Member Since Jul 20, 2020
341 posts
Oct 27, 2020 at 09:48
A demo is the best way to make your trading efficient and smooth. You can check all your plans in the demo account.
Member Since Sep 12, 2017
238 posts
Oct 27, 2020 at 12:18
demo can surely make you experienced depending on how seriously you trade. if you take the real scenarios and trade as in the live account it can surely give you experience
Member Since Aug 17, 2020
123 posts
Oct 28, 2020 at 09:21
Bradley88 posted:
I'm currently trading in an demo account since I'm a beginner, been pretty good at demo account should i start trading in live and not waste anymore time in demo ?
Since most comments have suggested demo cannot make one experienced.
In my opinion it is worth sticking to demo until you have been consistently profitable for at least a few months. Successful demo trading is still a good indicator of whether your trading strategies work or not. I believe you need to be able to trust your methods before you enter real trading where your psychology is more affected. But if you feel ready to move on, I think you should start with a cent account.
Member Since Aug 17, 2020
123 posts
Oct 28, 2020 at 09:26
ElliotCooke posted:
A demo is the best way to make your trading efficient and smooth. You can check all your plans in the demo account.
I totally agree!
Oct 30, 2020 at 10:38
A demo account will not make you a good forex trader if you consider it to be a demo account. There are alot of traders that consider the demo to just be a demo account and trade with risk in the demo account while thinking that he will do the same in the live account. They mostly end up as failures. You have to be keen on everything and especially the demo account.
KhoiDam
Member Since Aug 17, 2020
123 posts
Nov 02, 2020 at 07:07
KhoiDam posted:
A demo account will not make you a good forex trader if you consider it to be a demo account. There are alot of traders that consider the demo to just be a demo account and trade with risk in the demo account while thinking that he will do the same in the live account. They mostly end up as failures. You have to be keen on everything and especially the demo account.
Totally true, if demo trading is best when it is done with the right mindset.
Member Since Sep 18, 2020
31 posts
Nov 05, 2020 at 06:55
Well demo is undoubtedly the best way to start forex trading, but after you've practiced enough on demo, one must start live account trading with a small amount because that's what gives you a real experience.
Member Since Jan 11, 2019
147 posts
Nov 06, 2020 at 07:23
it can surely make you experienced depending on how seriously you take it.
Member Since Nov 07, 2020
25 posts
Nov 26, 2020 at 06:37
I completely agree with the fact that demo trading can make a lot of difference in how you see the market.
Member Since Oct 12, 2020
29 posts
Nov 30, 2020 at 09:41
For learning forex, demo accounts are the best option you have. You can test any strategy on your demo account to find if it works for you.
Member Since Feb 11, 2020
12 posts
Dec 08, 2020 at 13:38
A demo account needs a leash in order to get an initial idea of what trading is. Understand the capabilities of the trading platform. And real knowledge and experience can only be gained by trading real money.
Dec 10, 2020 at 04:12
UweMoench posted:
Demo can not make you well experienced. No matter how much profit you make with demo. The real test begins when you start to trade with real money. When you trade with real money you get emotionally attached to it. When we are attached to anything, we tend to make mistakes. Demo can only help you to know the trading platform and test your strategy.
There are a couple of points which need to be taken care of when you are trading on demo.
1. Demo Helps you to practice basics.
2. Demo lets your learn without the fear of losing
3. Execution time in demo is much better in comparison to live (be it any broker, the execution time in live and demo will always vary.)
If you trade on demo with the above mentioned points in your mind, you will realize that one can clearly not call themselves a good trader and gain 100% confidence on live trading.
Firstly, in the live account your capital is always at risk so you would need to be very careful and place trades after proper analysis as their is hardly any scope for luck (which we generally get on demo when we just randomly place any trade :P)
Secondly, you might not get the best or instant price while live trading, the execution time might overlook your entry price and chop your profits.
Thus, its a fact that demo cannot make you a pro but it can surely help you to start to become a pro.
The more your practice, the more you learn.
