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Is a demo account really neccassary?

MuffinZest
Sep 28 2022 at 11:24
6 ieraksti
There is no compulsion. But why do you want to enter into a market which you don’t know the ins and outs of ? A successful trader has a profitable strategy in hand. As a newbie, if you fail to have it, the market is going to give you a hard time. Demo trading is helpful to come up with a profitable strategy, saving your time and money. So, never skip it!
AdomKutler
Oct 02 2022 at 14:52
51 ieraksti
i am still doing demo trade , where i use all my trading strategies and high leverage to see the performance how it works.
Seb King (sebking1986)
Oct 03 2022 at 09:28
538 ieraksti
I don't think this is true at all. You can get a good idea if a strategy works or not on demo to at least give yourself a good chance of getting somewhere on a live account and use the confidence derived from having a large dataset to prevent doubts creeping in and wrecking good trades.
If you can't spot the liquidity then you are the liquidity.
forex_trader_[3036016]
Oct 04 2022 at 12:54
15 ieraksti
It’s good for practice and creating strategies but don’t rely on it too much as live trading is quite different. The difference arises because of slippage, execution, difference in spreads, etc. All the factors can impact the trading system. After I had a strategy in hand, I moved to a micro live trading account.
YellowWitty
Oct 07 2022 at 05:43
15 ieraksti
I spent 3-4 month on demo trading. Honestly, I got bored of it. So, I switched to live trading with a tiny capital. I blew up my accounts multiple times but the experience & learning was worth it. Do not cling too much on a demo account. If you have a strategy, you can begin live trading.
Tradelist45
Oct 07 2022 at 10:44
327 ieraksti
demo is the best place to become a knowledgeable trader very rapidly.  but we ignore it generally
leo23
Oct 08 2022 at 02:06
831 ieraksti
Any beginner trader can first start with a DEMO account to get familiar with the MT4 trading platform. It is not a good idea to jump directly to REAL money account.

Depending on your trading strategy you want to use and starting capital either you can choose a cent LIVE account or continue to trade in a DEMO account until you gain confidence fully before switching to LIVE.

Most importantly if you are trading in DEMO and you can maintain a good pip expectancy per trade like 5 pips per trade or more and you are placing good number of trades weekly and monthly, then you don't need to trade in LIVE account at all. You can just use a trade copier to copy trades from DEMO to LIVE and continue to trade in DEMO account only.

I am telling this after a trading experience of 15 years or more. It is not easy to jump start and start making money consistently as usually newbie traders think. Many times even after years of experience you may fail sometimes during bad markets when your trading strategy may not work and so sticking with DEMO is a very good idea to test your strategy fully before going LIVE and switch back and forth from DEMO to LIVE and vice-versa to survive in forex trading during bad market conditions.
Artificial General Intelligence
Tradelist45
Oct 12 2022 at 03:47
327 ieraksti
instead of demo i right now i am busy with micro account which really supportive to ensure real trading experience.
Mudzero
Oct 12 2022 at 10:30
20 ieraksti
It is the lifeblood of a trader’s life. Demo trading is really helpful to boost your knowledge and give you a practical outlook about the market.
leon90
Oct 25 2022 at 06:49
40 ieraksti
Nomocracy posted:
There is always a risk when starting out in forex trading. However, demo accounts can be highly helpful in reducing this risk. Demo accounts allow you to trade without risking real money and also give you the opportunity to test out new strategies before making any real investments.
Yes, Demo accounts give us the liberty to chisel our trading skills without losing any real money so one should stick to it until one develops enough confidence to trade on live accounts.
Akasuki
Oct 28 2022 at 12:10
617 ieraksti
There are so many e-books containing the basics of Forex trading and a pile of video tutorials available on Youtube. So, never get dejected if this learning takes time, rather keep patience.
HoodedStiff
Oct 31 2022 at 07:15
6 ieraksti
Demo trading is necessary in order to get familiar with the environment of the market and to know the currencies. But demo trading will not really help you in making profits. For that you have to enter the marketplace and then make efforts and mistakes there, in order to learn from them.
leo23
Oct 31 2022 at 08:41
831 ieraksti
If you consider DEMO account as REAL account, then there should not be any difference if you trade in DEMO or REAL. You need to follow the same rules in REAL account which you follow in DEMO account and if you can't follow the same rules in REAL Account trading, then definitely switch back to DEMO account and continue to trade in DEMO account.

But if you don't have any of your rules for your profitable trading strategy, then just continue with DEMO trading account only until you find a profitable strategy.
Artificial General Intelligence
Keli_3
Nov 01 2022 at 05:11
50 ieraksti
The benefit a demo account is that they allow new traders to become familiar with trading software and get a feel for how the market works.
jisanjipu
Nov 01 2022 at 13:38
54 ieraksti
learning is important , but without any kind of regular practice any kind of learning can be useless. no way to deny at all.
Akasuki
Nov 04 2022 at 03:02
617 ieraksti

You have to be flexible about Forex trading by accepting the market condition as it is and try to make the best use of both the market sides because you have the option to trade on both bearish and bullish market.
Eric (Goldbarrel)
Nov 04 2022 at 06:52
42 ieraksti
On a demo account, you can try trading with different leverage.
Make money with people who know how to make money.
Baccasa34
Nov 04 2022 at 17:01
75 ieraksti
Jumping directly on the live trading is the mistake that traders first commit. Traders should look for knowing the platform and understanding the market first and then they should jump into trading. Otherwise, gaining from the Forex market will be really difficult.
MythCloset
Nov 08 2022 at 09:22
16 ieraksti
It’s up to the trader to choose if they wish to demo trade or directly start live trading. Many do and many don’t. Demo trading can help the trader understand the process, figure out their trading style and backtest different strategies to select the one that stands out the most. However, traders need to know that demo trading doesn’t prepare for real loss.
Baccasa34
Nov 09 2022 at 06:42
75 ieraksti
Learn how to use indicators properly to forecast the market well. So, to do so, educate yourself with the best education
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