SharePosts by lucie_fxtrader
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[quote]dianajs posted:
The difference in result between a demo and a live account usually stems from the psychological effect trading with a live account has on a person, not from some technical differences between the accounts. Or at least, that should be the case if the broker's not making changes between the two. Demo accounts can be useful for more than just learning on them. Imagine you have a brand new strategy you'd like to test. Are you going to risk real money just to see whether it works on or not? Yes, you have to test it on a live account eventually too, but if you don'...
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[quote]LorraineP posted:
I would not recommend you open an account with real money until you can double the money in your demo account.
If your strategy is not good enough to do that, then what is the point in putting in real money?
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Hi Lorraine,
Thank you for your reply. I thought of continuing practicing in the demo but opening a small real account to get the feel of the market and see the differences. maybe practicing strategies on demo before applying on real.
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[quote]kricka posted:
Demo accounts are for the purpose of learning the platform and for testing strategies and to give new traders experience.
Will it give the trader any proof of how good of a trader he is? No, only a real live account will, as there are so many other aspects coming into the picture when trading live. Just to name a few: the emotional aspect of knowing that real money is at stake, to not overtrade when making mistakes, to have risk management in place on both individual positions and on the trading account as well.
Some info can be read at RMMRobot.com about risk managem...
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[quote]snapdragon1970 posted:
Hi Lucie,
I would advise people to get professional training if they can,before they enter live markets.Demo is fine to test different strategies.One way to prepare you for live markets is to work with a small amount of cash in your demo,say 5000 or less,this way you will be more careful with how your trading and you will feel a bit of pressure to protect it.
Be lucky! [/quote]
Hi Kieran!
Thank you for all your help. I agree with you, it would be a different feeling to have real money in an account and think through before opening positions. I think I wi...
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