Newcomers and demo trading

live account can be beneficiary for acquiring real trading experience but first of all they have to finish basic level of trading, otherwise this approach will not work at all.   

ElliotCooke posted:
Every new trader should practice first at the demo account before entering into the live account. The demo account will help them to learn all the basics of forex perfectly.

I agree. However, Trader lack emotion in demo account due to virtual money. They feel real emotion in live trading and make mistake because of that.

Demo accounts are good only to get a feel of the trading environment. Real money can only give real experience.

If you are a newcomer in the world of trading, you must begin with a demo account. You can practise with a demo account and later switch to a real account.

Cannot agree more. Demos are absolute essential!

@Ezereombre yes demo is absolutely essential but need to use in a proper way. We can't take 1000000 balance and trade. We have to treat demo like real account. Take balance 200$ to 600$ and learn risk management.

You say absolutely correctly, on a demo account you need to use the amount that will initially be on a real account.

A demo account is the best way to learn forex properly and perfectly. So, every new trader should practice on a demo account before investing their money in a real account.

You should trade on demo accounts. it will be better. what matters is that you are patient enough.

Demo account becomes useless in such a case.

exactly. the beginner should always start with a demo. infact the experienced can trade on demo side by side to try new strategies

I think most brokers give demo accounts with real data, problem is only ours that we bring emotions in our real accounts.

Jakemark posted:
I think most brokers give demo accounts with real data, problem is only ours that we bring emotions in our real accounts.

And those emotions destroy the game of most traders.

Demo trading is essential not only for new traders but also for experienced ones. If I am to give my own example, I started trading first demo accounts of etrade and ib, and after almost 5 months went live. This was about 2 years back. I am still using both demo and live accounts simultaneously for practicing my strategies on demo before applying them on the live account.

mitchelstrack posted:
Does anybody know if Exness offers demo account.

All brokers off demo account Exness is no different.

In that case go for a broker that offers a demo account, it’s always important to test a broker before going live with them.

A demo account is needed to immediately apply the knowledge gained in practice, but without the risk of losing money

inspirenez posted:
In that case go for a broker that offers a demo account, it’s always important to test a broker before going live with them. There are so many decent ones to pick from: Forex com, Fxview, IG.

What’s the criteria here for classifying these brokers as good?

Demo trading is a must to gain trading experience. It is possible to create a strategy by trading a demo. Consistently profitable with that strategy.