Is demo trading enough before real account?

The demo trading is a helpful tool to learn about live forex trades, but it also requires knowledge, focus, strategy and risk-taking skills to enter live trading because demo is risk-free. It can only give you a risk-free practical experience, but real emotions and risks are involved when trading live.

I wouldn't say demo trading is enough before opening a real account to trade live, but it is one of the main aspects of learning about forex live markets because the demo account helps a beginner familiarise with the market movement and its trading platform software.

It is good that you started with a demo account instead of going for the live one directly. Maybe you can practice for a while before trading with your real money. Good luck to you.

it's a good thing to test the strategy in demo, and after you are used to the strategy open an real account 😄

Faujinn posted:
When starting practice on a demo account, do not forget that you must continue learning.

True, there are many sources available on youtube and forex trading books, from other traders as well.

FedericoLin posted:
it's a good thing to test the strategy in demo, and after you are used to the strategy open an real account 😄

Yes. Demo is the best option to practice.

It is not. Traders need to know about trading psychology in real trading.

I once earned $30,000 on a demo, but I don't think I can repeat it on a real account.
I started to believe in myself

A demo account is going to give you the possibiility of using the platform, see how trading works, but it is not going to give you the emotions associated with real trading, such as how fear or doubt set in before you make a decision. Nonetheless it is still helpful to spend time on a demo account at first. However you should also substantiate that with plenty of reading and research so as to learn more about news that affect the market, for example, and there are also courses you could consider following. I suggest you start with small amounts first when you move on to real trading and it is also important to have a trading journal to record what you did so that you can keep track and improve over time through your own experiences. Risk management is also key.

Demo accounts are helpful when it comes to learning the mechanics of trading and testing strategies. Not so much when it comes to the psychological or money management parts of trading. I think it's crucial to trade on a demo, but keep in mind that you could start to feel anxiety, greed, or other emotions once you go live. Also, the demo doesn't teach effective money management since you can just have it topped up, but I've read suggestions that say you can try giving yourself real world consequences to make the demo account results feel more realistic and so that you'll take it more seriously.

If you are confident about the knowledge gained, then the demo account experience is sufficient enough to start trading in the real account.

It is better always to start low until you make consistent profits with lower capitals.

Ebin posted:
If you are confident about the knowledge gained, then the demo account experience is sufficient enough to start trading in the real account.

It is better always to start low until you make consistent profits with lower capitals.

Yes. I agree with you.

As for me, a demo account is a must. At least when I just started working with a broke, I got my first experience on a demo account.

lucie_fxtrader posted:
Hi all,

As a new trader I am trying to develop strategies in demo accounts before registering for real accounts. Is this enough though for me to be ready to enter the real markets?

Thank you!

Yes it is and I provided you stick to your strategy and don’t start to fall apart when things don’t go your way

@lucie_fxtrader Demo trading is good before entering into live trading. But demo trading should be done by following specific strategy and risk management policy.

Here, a lot depends on the setting of this mode for a particular broker. For example, I work with a broker, and there the demo account was set up for real trading conditions.

Demo trading is necessary for every trader before real trading because demo trading will help you a lot to gain experience and you can test your strategy.

demo is a must
i was used to trade using demo accounts about 3 years. Of course I've tryed with real accounts but only with small amounts.

now i have 4 active accounts to trade news and for ea. Without demo account and I coulnd undestood how to trade

Demo trading is a must to start with in my opinion. That's not to say going live eventually isn't but if you've not got an objectively winning strategy, why would you then futher complicate it with psychology?