traderroni posted: I agree. A beginner should practice for as long as it requires and even continue testing his strategies on a demo account once he goes live on a real account. Demo acc helps you to avoid mistakes on a real account. So till the time you don’t start doing good, we should stick to a demo account.
Unless you are profitable on demo for like 6 months you should not trade real account. Perhaps cent account after 3 months is OK.
As demo account trading is not realistic enough as you are not using real money and you don't have any emotional connection with the money because its dummy and it dosent matter either you loose the amount but if you have some money in the liv account you have actual emotional connection you have a feel how market goes but still I would suggest to start with demo account because it will build your decision making power once you master in it you can go with real money and that will actually teach you how to handle the risk and your emotions of fear.
Revenue is vanity, profit is sanity, but cash is king
Demo is really present in the life of every trader, even if he already has a lot of experience. What to say about newbies who need to train their skills and bring trading to a confident level. With the help of the demo, you can work out a new strategy and set up the indicators in the way that will be convenient for you. Besides, thanks to the demo, you can estimate what income you will be able to get monthly. At least roughly to know what kind of investment you should be ready for. Another thing is that the demo should not be used on a permanent basis, otherwise you will never come to the real market and real income. I mean, it's like theory without practice doesn't work for you. After all, when you work with the real market, you may encounter excitement and other emotions that will prevent you from making money. So the demo is good, but as far as I'm concerned, it's only if you alternate it with real trading.
I have seen many of us consider demo trading as dull. But for me not that dull at all, actually it is totally different , live account is the real market and many financial things affected the market , and it is different with demo account which is positioned as the “perfect market “ by the broker that we use, so that is why that market is good for newbie who want to trade as the place to learn only and make theirselves more familiar with the platforms.
demo is really good for any kinds of traders especially for newcomers. i use all my trading strategies in demo to see the performance how it works, this approach always help me to avoid risk when trading in practically.
demo account is useful when you are new to trading..it helped me out a lot..it gives me this information on understanding how performance outcomes would it lead...very useful for understanding risk in trading
I don't see anything wrong with the demo trade. It is a common tool that all brokers and independent terminals offer so that traders can practice and try out what trading is without risk to their money. Of course, there are different situations when a demo prevents a trader from switching to the real market and distributing his finances correctly. But in this way it is possible to analyze each specific case and history of each trader for hours. I know traders with a lot of experience who sometimes trade on demo accounts in order to just relax and prove to themselves that they can achieve everything they want.
feelsofine posted: demo account is useful when you are new to trading..it helped me out a lot..it gives me this information on understanding how performance outcomes would it lead...very useful for understanding risk in trading
Demo account makes me feel like I'm a billionare.... haha