Demo trading

Draggyr posted:
I also used the demo in the beginning to become a little familiar with trading and see how it all works and if I like it before making a deposit to my account. It sounds like a very useful thing to me and I'm very glad that we are given the opportunity to 'test' a broker before deciding whether it's worth your time and your money at all.
It's also very smart to use demo account to test your trading systems. I'll now do the same, it'll probably help me very much to advance and not be afraid to take risks with real money.

Very good. It is not about being afraid to take risks as you know bigger risks = bigger pay off...it has more to do with not letting your account get wiped out.

PeteLanceley posted:
Demo trading can be good for testing out strategies, but you are never linked to the emotion of losing money. I would always recommend when you are confident to deposit a small amount and do tiny lot sizes. That way you can learn risk management, and accept losses/wins.

Right. since your emotions aren't involved in demo trading, making profits doesn't seem a big deal. Its only when you start live account trading that you realize that its much different than demo trading.

There is an emotional difference but not a technical one. Demo is still best place to start

testing in demo account is more appropriate and perfect decision but successful trader is an another part. its a long term process. be focused on practice.

i am doing demo right now , importance is your own issue , its an inevitable part of trading before real account . thats why i am here.  

demo is the best place to see leverage performance , before live traders should use high leverage in demo., it always supportive to avoid risk when live.

Of course, trading on a demo account is not bad, but really interesting

Dorigda posted:
Of course, trading on a demo account is not bad, but really interesting

It is good for practice, one can know the basics well with a demo account

Is it me or does anyone feel that trading in Demo for a long time is boring and wants you to start trading live but not sure if your ready to go live ?

time to devepopp manual trading skilks

Ebin posted:
Is it me or does anyone feel that trading in Demo for a long time is boring and wants you to start trading live but not sure if your ready to go live ?

Years ago, that was exactlly my dilema.
Demo trading for years had great results.
Friend of mine told me why don't you trade your strategies live?
So I took loan from the bank and started live.
I was able to repay that loan very first year :) But nowadays I wouldn't risk so much.

Demo account is the mirror image of a live account. For beginners in forex trading, demo trading is the best as it will help the traders to learn how to trade and have some practical experience of trading. Before risking your own capital, you must have experience in it. Demo trading will also help you to see what all brokers offer in terms of spreads, leverage, trade execution speed and bonus, if any. Further, if you like the offerings of the broker you can continue to go live with that broker and try your trading plans and strategies over there with your real money.

For a new trader, Demo account is a good way to practice and learn. Practice as much as you can, once you are confident enough, you can move to live trading.

Hi to all,

i'm a newbie here and in this industry, so apologies if this seems a stupid question😄

Read a lot that demo trading is something different than real trading, even if you use the same broker, platform, trading with the same leverage and so on.

Is it true or not?

Mohammadi posted:
The demo account is really important for all kinds of traders in particularly the newcomers. in my trading career, after passing a long time I still depend on demo account for some inevitable reason, I use all my trading strategies first of all in demo account to see the performance how it works. this approach always helps me for avoid risk in live account when trading practically. What is your experience in demo ?

When I started trading I used demo account for 2 months to undertsand the strategy and techniques.

Some underestimate the demo account, but it really helps a lot.

Demo trading is very effective for the new traders to learn forex properly and perfectly. They can learn forex practically without any investment.

The demo account is the best to improve your trading skill and it's free.

If an aspiring trader cannot maintain the same discipline on demo that is required to trade and make money on a live account, then he/she is a failure waiting to happen