Prince Sajir
(princesajir)
Členom od Jan 25, 2022
15 príspevkov
Feb 01 at 18:43
Demo trading is the entrance of the trading journey. With demo trading, it will be tough to get the taste of real trading. That's why people do demo trading first then they go for real. So, here are some advantages of demo trading:
No risk. You will not lose real money if you make losses due to wrong decisions.
Self-analysis. Working on a demo account allows you to identify all your shortcomings in market analysis, trading decisions and strategy.
No stress. Real trading causes emotions of greed and fear. They often do not allow traders to see the key information, required for efficient risk management. Paper trading keeps away from the emotional roller-coaster, that is why a beginner trader can completely concentrate on the strategy.
Practice. A beginner acquires experience in every element of the trading process – from preparation for a trading session to the final registration of a profit or loss. If traders have access to a demo account, they learn how to use software for trading real money in an easy mood, where pressing incorrect buttons wouldn’t result in a financial catastrophe.
Confidence. Making a number of complex decisions, which are rewarded with a hypothetical profit, has a big significance for building confidence, so that a beginner starts to feel that he could do the same when real money is at stake.
Statistics. Trading papers from several weeks to a month allows to collects useful statistical data about a new strategy and market approach. Bare figures will help you to come back down to earth or, vice versa, to prove applicability of your strategy and suggest ways of its optimisation.
No risk. You will not lose real money if you make losses due to wrong decisions.
Self-analysis. Working on a demo account allows you to identify all your shortcomings in market analysis, trading decisions and strategy.
No stress. Real trading causes emotions of greed and fear. They often do not allow traders to see the key information, required for efficient risk management. Paper trading keeps away from the emotional roller-coaster, that is why a beginner trader can completely concentrate on the strategy.
Practice. A beginner acquires experience in every element of the trading process – from preparation for a trading session to the final registration of a profit or loss. If traders have access to a demo account, they learn how to use software for trading real money in an easy mood, where pressing incorrect buttons wouldn’t result in a financial catastrophe.
Confidence. Making a number of complex decisions, which are rewarded with a hypothetical profit, has a big significance for building confidence, so that a beginner starts to feel that he could do the same when real money is at stake.
Statistics. Trading papers from several weeks to a month allows to collects useful statistical data about a new strategy and market approach. Bare figures will help you to come back down to earth or, vice versa, to prove applicability of your strategy and suggest ways of its optimisation.
Ramierez
Členom od Aug 28, 2020
30 príspevkov
Feb 02 at 12:14
The main advantage of using a demo account is that you can trade without taking any real risk or involving real money.
There are brokers that also provide tools to develop forex knowledge. I traded with an FP Markets demo account, which also provided e-books, video tutorials, and other educational material for traders venturing into forex for the first time.
There are brokers that also provide tools to develop forex knowledge. I traded with an FP Markets demo account, which also provided e-books, video tutorials, and other educational material for traders venturing into forex for the first time.
Seb King
(sebking1986)
Členom od Apr 09, 2019
405 príspevkov
Feb 02 at 13:06
Demo is essential in my opinion for helping you to formulate a trading strategy. Those who jump in with money early because of the psychological aspect of trading with live funds are missing the point for me. Without a good trading strategy which includes risk management then you'll still lose. I personally treat my demo accounts like live accounts to instil good habits.
If you can't spot the liquidity then you are the liquidity.
HeavenLeighGill
(HeavLeighGill26)
Členom od Aug 05, 2021
267 príspevkov
Feb 02 at 17:41
I agree that it's essential to gain some experience on a demo account before going live. I've seen several posts where traders want to skip demo trading completely and some traders give the advice that there's no point because it misses teaching psychological and risk management related lessons, but I don't understand why someone wouldn't take advantage of the ability to practice the mechanics of trading, test their strategy, and so on just because of that. I spent quite a while on demo in the beginning.
GordonDenzil
Členom od Aug 11, 2020
51 príspevkov
Feb 11 at 09:15
The advantage of using a demo account is that there is no risk involved in it. You can trade until you are confident enough to enter live trading. It is the best tool to develop skills or strategies for both beginners and experienced traders.
sharabela
Členom od Dec 09, 2013
94 príspevkov
Feb 11 at 16:33
princesajir posted:In my opinion, demo trading is the only way to learn trading. If a trader trades on demo account as if he is trading in a live account, he will certainly learn how trading is done. If he can not make money or be patient with demo trading, he will certainly lose money in live trading.
Demo trading is the entrance of the trading journey. With demo trading, it will be tough to get the taste of real trading. That's why people do demo trading first then they go for real. So, here are some advantages of demo trading:
No risk. You will not lose real money if you make losses due to wrong decisions.
Self-analysis. Working on a demo account allows you to identify all your shortcomings in market analysis, trading decisions and strategy.
No stress. Real trading causes emotions of greed and fear. They often do not allow traders to see the key information, required for efficient risk management. Paper trading keeps away from the emotional roller-coaster, that is why a beginner trader can completely concentrate on the strategy.
Practice. A beginner acquires experience in every element of the trading process – from preparation for a trading session to the final registration of a profit or loss. If traders have access to a demo account, they learn how to use software for trading real money in an easy mood, where pressing incorrect buttons wouldn’t result in a financial catastrophe.
Confidence. Making a number of complex decisions, which are rewarded with a hypothetical profit, has a big significance for building confidence, so that a beginner starts to feel that he could do the same when real money is at stake.
Statistics. Trading papers from several weeks to a month allows to collects useful statistical data about a new strategy and market approach. Bare figures will help you to come back down to earth or, vice versa, to prove applicability of your strategy and suggest ways of its optimisation.
croisssan
Členom od Jul 22, 2021
939 príspevkov
Feb 11 at 19:52
The biggest advantage - the demo allows you not to invest your money in training. At least, working with a broker, I started that way.
sharabela
Členom od Dec 09, 2013
94 príspevkov
Feb 12 at 16:05
princesajir posted:Demo trading is a blessing for Forex trader. A trader must make full use of it. A trader should trade on demo account as if he is trading on a live account. If he can do that for a year at least, there is a very good chance that he would be a successful trader. If a trader can not make money in demo trading, no way he would make money in live account. Moreover, if he cannot be patient with demo trading, how would he keep patience in live trading. We all know patience is the key in this business.
Demo trading is the entrance of the trading journey. With demo trading, it will be tough to get the taste of real trading. That's why people do demo trading first then they go for real. So, here are some advantages of demo trading:
No risk. You will not lose real money if you make losses due to wrong decisions.
Self-analysis. Working on a demo account allows you to identify all your shortcomings in market analysis, trading decisions and strategy.
No stress. Real trading causes emotions of greed and fear. They often do not allow traders to see the key information, required for efficient risk management. Paper trading keeps away from the emotional roller-coaster, that is why a beginner trader can completely concentrate on the strategy.
Practice. A beginner acquires experience in every element of the trading process – from preparation for a trading session to the final registration of a profit or loss. If traders have access to a demo account, they learn how to use software for trading real money in an easy mood, where pressing incorrect buttons wouldn’t result in a financial catastrophe.
Confidence. Making a number of complex decisions, which are rewarded with a hypothetical profit, has a big significance for building confidence, so that a beginner starts to feel that he could do the same when real money is at stake.
Statistics. Trading papers from several weeks to a month allows to collects useful statistical data about a new strategy and market approach. Bare figures will help you to come back down to earth or, vice versa, to prove applicability of your strategy and suggest ways of its optimisation.
skihav
Členom od Sep 05, 2021
801 príspevkov
Feb 12 at 17:13
The biggest and most important advantage is the ability to gain experience without much loss. When I started working with a broker, I used a demo account.
croisssan
Členom od Jul 22, 2021
939 príspevkov
Feb 13 at 09:33
It is strange that many underestimate the benefits of a demo account. For a trader, this is a very good option.
SteveFx11
Členom od Feb 15, 2022
52 príspevkov
Feb 18 at 14:29
Forex trading could be very costly without having demo trading facility! Right now there have so many successful trader in this trading industry, they learned Forex by their hard work & dedications! And I see, most of them were so serious in their demo account! So, if you are new trader use, use properly your demo trading account!
ElijahM
Členom od Feb 15, 2022
19 príspevkov
Feb 21 at 09:20
I trade with a demo account currently. It is a risk-free platform to trade without any risks or money involved.
Even experienced traders use demo accounts to develop their strategies and skills.
Even experienced traders use demo accounts to develop their strategies and skills.
croisssan
Členom od Jul 22, 2021
939 príspevkov
Feb 21 at 14:10
The most important advantage is the ability to gain experience without much cost. At least when I started working with a broker, I studied on a demo account.
Suradi
(FXOday)
Členom od Apr 03, 2021
311 príspevkov
Feb 22 at 00:24
A demo account is type account designed for practice in real market conditions using virtual money, the main advantage of demo trading is a trader can learn practice in real market to backtest any trading strategy, this is useful for beginners,
Treeny
Členom od Feb 08, 2019
211 príspevkov
Feb 22 at 19:41
You can try any strategy you like safely
skihav
Členom od Sep 05, 2021
801 príspevkov
Feb 22 at 19:50
As for me, the demo account is a very useful option for work. I liked the demo account of broker for work. In my opinion, this is a good option.
Gewgaw
Členom od Jan 21, 2022
34 príspevkov
Feb 25 at 06:12
A demo account aims at recreating the experience of real trading as closely as possible. It gives a feel on how different markets work. A demo account allows a trader to become familiar with the trading platform and gives a sense of working of the market.
davemack
Členom od Feb 20, 2021
78 príspevkov
Mar 15 at 04:34
It is important for traders to practise on a demo account before trading on a live account. It allows traders to know the trading platform and also the market.
Davidfx89
Členom od Apr 19, 2021
145 príspevkov
Mar 15 at 10:54
i am using demo account where i use all my trading strategies to see the performance how it works.