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DEMO ACCOUNT vs LIVE ACCOUNT

fxwisdom1
Apr 26 2017 at 06:44
15 postów
essenn posted:
From my personal experience, A demo account is an accurate representation of a live account, If a Pro trader or A well designed EA run profitably on a Demo account then it's 99.99 percent certain these resulted can be replicated in a Live account.

Discuss.. 😁


Yes I totally agree with you.
Having a good demo account reflects a real account.
There's not much different between demo and real account.
The only different is that it is using your money.
If you have a strategy that took away your emotion, regardless which type of account you have, you will succeed.

hjacob
Apr 28 2017 at 10:14
30 postów
Yes absolutely, demo and live accounts are more or less same. The difference is psychological as while trading in live account our real money is at stake which make one feel more concerned. However, yes having well developed strategy can make you succeed and overcome this psychological barrier. Demo accounts can also be used for testing strategies before going live.

mlawson71
Apr 28 2017 at 11:49
1487 postów
hjacob posted:
Yes absolutely, demo and live accounts are more or less same. The difference is psychological as while trading in live account our real money is at stake which make one feel more concerned. However, yes having well developed strategy can make you succeed and overcome this psychological barrier. Demo accounts can also be used for testing strategies before going live.


There's never any requoting on demo accounts though. That should be taken into account.

ToryBiggins
Apr 30 2017 at 06:57
16 postów
That is a really important point. If you are trading near a news announcement using a demo then you can make loads of 'fake' money but try that on a real account you either trades won't be opened / closeed or there will be HUGE slippage

hjacob
May 03 2017 at 07:37
30 postów
mlawson71 posted:
hjacob posted:
Yes absolutely, demo and live accounts are more or less same. The difference is psychological as while trading in live account our real money is at stake which make one feel more concerned. However, yes having well developed strategy can make you succeed and overcome this psychological barrier. Demo accounts can also be used for testing strategies before going live.


There's never any requoting on demo accounts though. That should be taken into account.


Yes, that’s also a very good point to be mentioned. Requotes are inexistent in demo but one might often get requotes in live account. So always go for the broker that offers least slippage or requotes in live account. If you notice a lot of slippage in live account, then it’s time to switch the broker.

Devhuti
May 03 2017 at 08:43
94 postów
Every day is learning day.

snapdragon1970 (snapdragon1970)
May 03 2017 at 11:49
1944 postów
The demo contests here are a good tool for learning its not real money but it does put one under pressure to survive and hopefully make some profit, trade every signal or be more conservative, its a month long so don't go crazy on day one.

"They mistook leverage with genius".
mlawson71
May 03 2017 at 12:20
1487 postów
snapdragon1970 posted:
The demo contests here are a good tool for learning its not real money but it does put one under pressure to survive and hopefully make some profit, trade every signal or be more conservative, its a month long so don't go crazy on day one.


Good point. And even if one doesn't take part in an official contest, they can challenge themselves by setting a goal they need to reach by the end of the month.

PanMajk (PanMajk)
May 04 2017 at 06:31
10 postów
hjacob posted:
Yes absolutely, demo and live accounts are more or less same. The difference is psychological as while trading in live account our real money is at stake which make one feel more concerned. However, yes having well developed strategy can make you succeed and overcome this psychological barrier. Demo accounts can also be used for testing strategies before going live.


I cannot disagree, however I feel like when I start live trading, my strategy is going to fail.. with numerous positions in a row so that my start is going to be super hard. I guess there is no other way than trying. The Fear is strong in me. Perhaps I need a few more months of practice. Does it lead to conclusion 'demo trade for as long as you need to gain full confidence with your skills'? Anyone had similar feelings?

snapdragon1970 (snapdragon1970)
May 04 2017 at 12:47
1944 postów
Start with a small live account when you do go live, with money you can afford to lose, you can manage your fear by making small trades till you gain confidence, losing is part of trading but we try to keep those small and gaining big.

"They mistook leverage with genius".
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