Is demo trading enough before real account?

I think thanks to the demo accounts a new trader can develop confidence, however, it is far from the actual account. The equations are different, the pace of the market is different, we are talking about reality!
Use the demo, soak up the necessaries for the trading, consume information as if that depends your life and throw yourself into the real account.

mlawson71 posted:
I think that there’s one thing that needs to be pointed out here – demo account has to be enough before one moves onto a live account, because there’s little else a newbie trader can do, as far as I know.

Yeah, pretty much true! Some also recommend micro accounts but it's again real money 😄

If anyone is interested in taking part in a Demo challenge, get in contact.

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!

Uff ... you are never prepared enough!
Manage various trading strategies, statistical analysis, have a lot of knowledge about Forex and tutors or professionals to consult in case of doubts in the complete trade.

manu1 posted:

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!

Uff ... you are never prepared enough!
Manage various trading strategies, statistical analysis, have a lot of knowledge about Forex and tutors or professionals to consult in case of doubts in the complete trade.

owo very good replay, i'm appreciate

Too long period on demo trading may build some bad habits that will show up once the trader switches to live environment :)

I'm sure you will get plenty of feedback here to review progress, this is the same when your learning on the professional side, helps cut out bad habits at an early stage.

I have seen many of us consider demo trading as dull. But for me not that dull at all, actually it is totally different , live account is the real market and many financial things affected the market , and it is different with demo account which is positioned as the “perfect market “ by the broker that we use, so that is why that market is good for newbie who want to trade as the place to learn only and make themselves more familiar with the platforms.

Blowing up a demo account is a hell of a lot better than blowing up a real account.

well.. don't go for demo to 100,000 USD account.. I mean in theory it's the same as long as you don't mess up on the volume, and your entries aren't 100% perfect on the entry and exit. but in the start at least for me I'd act differently on a demo account and real account, so try to make sure you trade the same way.. maybe go back and fourth check if you trade the same way.

for me, is not enough. You need to be profit in DEMO first before you run on real. Then, start trading with REAL account with $100 as starting balance first. Why? because this is the next process how you control your emotion. Most traders when DEMO, they can make a good profit, but in REAL account they loss.

nasrul_poyo posted:
for me, is not enough. You need to be profit in DEMO first before you run on real. Then, start trading with REAL account with $100 as starting balance first. Why? because this is the next process how you control your emotion. Most traders when DEMO, they can make a good profit, but in REAL account they loss.

100% spot on. If you fail in demo you will fail with real money. If you are successful in demo you will at least initially fail with real money. Demo is good for acquiring trading skill and honing that, but it's not possible to recreate the emotion you will experience when your actual capital is on the line. Dealing with that emotion is also a skill and that can only be developed when trading real money. But, if you are trading real money with no trading skills, you're going to experience a great deal of pain.

ComebackKing posted:
Blowing up a demo account is a hell of a lot better than blowing up a real account.

Completely agree with you. Otherwise blowing your money in the real account will surely compel you to stop trading.

practice in a long time in demo account can make us great discipline trader. so, it is more important to emphasis on trading in a demo but so many traders don't believe the importance of this trading place at all.

My suggestion is that, before opening a demo account; think about how it can help.
Mindset — treat it as a real account, make journal of your analysis, traits, decision, timeframe of trade, methodology/strategy used.
(Review the reuslt, Max Drawdown, Win Rate, R/R, and monthly volatility)
Expectation — I think demo account do not simulate actual account in 100%, including market price tier, and slippage.; make good research on your broker and if you can afford, use more than one broker as comparison or hedge purpose.
Demo account will not offer you benefit if you are not serious about it, blow it and start another one....? Don't waste your time.

Try a little game....if you lose money...give that amount to your husband/wife/child; if you win a good amount; congratulation to you, it gives you more assurance that you're on the right track...(don't ask your loved ones to pay you the amount though lol)

If you are confident enough that you have been trading well with consistent profits and an effective strategy then I guess it is enough. But take your time as demo trading can be very helpful in learning about the trading essentials.However if you are still a little apprehensive about live trading start with very small amounts. It will gradually increase your confidence as you start earning profits.

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!

Go to real account to know the real emotion.

nasrul_poyo posted:
for me, is not enough. You need to be profit in DEMO first before you run on real. Then, start trading with REAL account with $100 as starting balance first. Why? because this is the next process how you control your emotion. Most traders when DEMO, they can make a good profit, but in REAL account they loss.

Agrred!

Yes demo trading is enough if done with proper attention and discipline. But you need to control your emotions and need to be serious while trading on demo. If you will trade on demo account with the psychology that this is your real account than surely demo trading is enough before opening live account.
Psychology plays the crucial role in demo trading.