Demo trading
Mohammadi
Członek od Aug 11, 2017
825 postów
Apr 05 2018 at 06:27
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 ?
Agree with you. I also frequently use demo account for trading. Even if I trade with new broker I test demo first.
mlawson71
Członek od Dec 11, 2015
1487 postów
Apr 15 2018 at 06:10
As a newbie I traded on a demo account for months on end to learn the basics of trading. Even now, years later, I return to the demo account from time to time to both train and test new strategies.
Demo is the best way to practice. You wouldn't practice to be football player by only playing league matches
Mohammadi
Członek od Aug 11, 2017
825 postów
Apr 18 2018 at 06:55
Beginners should trade demo account minimum for 3 months for acquiring real trading experience which is very supportive to continue a live trading in a proper way. but they don’t believe the importance of this trading place at all. so it would be better if they start minim live account instead of demo trading.
Baldo
(BaldoN)
Członek od Feb 12, 2016
522 postów
Apr 18 2018 at 15:34
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)
mlawson71
Członek od Dec 11, 2015
1487 postów
Apr 20 2018 at 17:30
BaldoN posted:
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)
I agree. To put it bluntly, it takes as long as it takes and not a day less.
Michael Bai
(michaelbai)
Członek od Oct 26, 2015
33 postów
Apr 26 2018 at 10:08
BaldoN posted:
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)
Couldnt agree more. I use test accounts when trying different methods out and such, but always try not to be so frivolous with the trading and such. Its like putting on a costume and pretend its real for a few moments and never jsut place traders to place trades. Discipline!
Take Challenges Head On
PrivilegeToExist
Członek od May 09, 2018
13 postów
May 11 2018 at 08:53
I guess it kinda *has to be* like this: Toy in Demo, go Live ... and lose cash. Because the mind is in a completely wrong place. Demo is great, at all times (not just beginning), but there's no way around Live to get ready for Live.
Good thing there are possibilities: 1) Use the smallest lot size (0.01) in Live. If your broker's minimum is larger, use a different broker as a beginner! (E.g. I started with Trading 212, which is nice, no reason to complain, but their min is 0.05 for most pairs; swap is very tiny; spread is ok, but is better on IG and even better on FXTM; these are all I tested so far).
A BETTER alternative even: Cent (or micro) accounts. You pay €100 into a Cent account and have EUC10,000 to play with, which is just the right size for proper trading. Without the risk. But still the heat of losing real money. And the possibility to *make* real money.
Good thing there are possibilities: 1) Use the smallest lot size (0.01) in Live. If your broker's minimum is larger, use a different broker as a beginner! (E.g. I started with Trading 212, which is nice, no reason to complain, but their min is 0.05 for most pairs; swap is very tiny; spread is ok, but is better on IG and even better on FXTM; these are all I tested so far).
A BETTER alternative even: Cent (or micro) accounts. You pay €100 into a Cent account and have EUC10,000 to play with, which is just the right size for proper trading. Without the risk. But still the heat of losing real money. And the possibility to *make* real money.
Priority 1 in your life should be to find out what priority 2 is.