Feb 14 at 11:30
James_Bond posted:
I will clarify; the point of a demo account is to get a feel of forex trading, however it creates the psychological illusion of not caring of any losses/wins and taking enormous risk without having to confront consequences (psychological side).
See I fundamentally disagree with this. Too many do but this is entirely choice. I always treat a demo account as if it were real money as this helps me from good risk management habits. I don't demo with money too out of line with what I trade live either. Habits are the result of repetition and I never bought that these can't be formed on demo ultimately risk free. Why treat it differently to live? Of course it IS different but if you can get used to the numbers on the screen on demo then you will feel more numbness to them when live. At least that's how I worked it and it made sense to me. Using a demo and treating it like it's risk free reinforces bad behaviours that will only make it harder to rectify when live.
If you can't spot the liquidity then you are the liquidity.
Feb 28 at 20:52
Agreed with the poster above its vital you treat it as a live account will have major benefit to your trading.
If you see it as pretend then you lose the psychological downer of losing you need to treat it as real for it to benefit you
If you see it as pretend then you lose the psychological downer of losing you need to treat it as real for it to benefit you
Mar 01 at 11:45
Yes ofcourse demo account is very important for any trader.
Demo accounts are mainly meant to make traders aware of the platform and the working of the market. They do not develop the trading psychology as real money is not involved.
I believe that a trader should not spend more time on a demo and as soon as he finds his strategy is working, he should switch to a cent or micro account. Switching to the cent or micro account allows traders to work on their trading psychology without risking a big amount.
I believe that a trader should not spend more time on a demo and as soon as he finds his strategy is working, he should switch to a cent or micro account. Switching to the cent or micro account allows traders to work on their trading psychology without risking a big amount.
Mar 11 at 02:44
Demo will teach you how to trade but how to manage your emotions can only be learnt on a live account.
Mar 11 at 10:52
yes but this education level actually not works for all time , for that reason we the traders most of the time lost interest from demo.
Can not emphasis enough on how much demo account is important. You actually learn a lot.
It is not mandatory for traders to do demo trading, but all traders should do it because it has many benefits. One of the best benefits of demo trading is that you get to trade in a risk-free environment and acquire trading skills without investing any money.
Mar 14 at 06:25
demo will only educate you on big accounts, you'll regret applying demo skills in a small account.
MONEY,METHOD,MANAGEMENT
Use demo accounts to an extent that they don’t fill you with unrealistic expectations. As you won’t be using any money, you may not know how it feels to. So, once you have become familiar with the basic functions of a trading platform, move to your micro trading account.
Mar 16 at 10:23
using a demo account until you’re comfortable with your progress. Then you could dip your toe into a small live account to learn how to control the emotional reactions to both losing and winning trades.
Mar 16 at 11:09
very common post but effective all message .
Mar 16 at 12:20
aj901512 posted:
i think you got it just right and i agree. demo is quite useless if you plan to trade real money. i say start small with a live account and build your way up.
Really, when how did you learn your Forex trading? Did you start your live trading so directly?
Mar 16 at 17:03
Definitely yes. For example, when I started working with a broker, I used a demo account to get the necessary knowledge.
Practicing on a demo account is the foundation of forex trading.
Mar 17 at 11:25
A demo account is definitely an important stage for a beginner. Without this, it will be extremely difficult for a trader to get the desired result.
Mar 17 at 13:18
the result of demo is not a real money but this can be a real and good experience.
It’s important to know how crucial features like stop loss orders, leverage, strategies, etc. work before you start trading in the live market. That’s what you must use demo accounts for. It may not guarantee success while live trading, but it surely helps in developing skills and understanding that help in the live market.
