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DEMO ACCOUNT vs LIVE ACCOUNT
Členom od Jul 09, 2015
48 príspevkov
Feb 02, 2017 at 15:03
shirley_F posted:
Isn't it that the stops are risk precaution measures? If the price goes against you, the bigger the stop, the larger could be the loss. Of course we need to have the spread in consideration as it is the main factor that can trigger your stops sooner or later. I think demo account is the best place to test and validate such situations.
Yes, precisely, use the demo to test how it all works - stops, swaps, spreads and so on!
Členom od Feb 02, 2017
32 príspevkov
Feb 03, 2017 at 08:37
As a newbie trader, I have always liked the concept of demo trading before going live. Most of the brokers offer same quotes, spreads and trading conditions on both demo and live accounts. At least demo trading allows you to sharpen your trading skills, test your strategies and learns from the virtual losses. Go live once you have started earning profits consecutively in demo trading. As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow.
Členom od May 04, 2012
1534 príspevkov
Feb 03, 2017 at 08:50
ema123 posted:
As a newbie trader, I have always liked the concept of demo trading before going live. Most of the brokers offer same quotes, spreads and trading conditions on both demo and live accounts. At least demo trading allows you to sharpen your trading skills, test your strategies and learns from the virtual losses. Go live once you have started earning profits consecutively in demo trading. As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow.
As a somewhat more seasoned futures and forex trader I disagree, as demo trading has no stakes at all whatsoever and so the trader does not get even the slightest idea how does it feel to trade with REAL MONEY. So the very important psychological aspect is completely missed.
Also he/she may get the very false idea that the same strategy will work out in live trading the same way as in demo trading.
Just for the above 2 reasons I suggest even to a novice traders to open a VERY SMALL (even just $10) CENT ACCOUNT and to trade with REAL money and in REAL trading environment to avoid self-deceit and later losing precious time to rectify this self-deceit.
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Členom od Feb 12, 2016
507 príspevkov
Feb 03, 2017 at 13:13
Demo is good just to master strategy or to test the strategy, BUT the demo will not offer real execution, which will make the end result different, will not offer the real trading psychology situation.
Bottom line: demo is not bad, but do not overplay wit it :)
Bottom line: demo is not bad, but do not overplay wit it :)
Členom od Jan 31, 2017
6 príspevkov
Feb 05, 2017 at 07:37
I agree with FxMasterGuru here, the psychological mindset while trading in demo and environment and live environment is completely. In demo account, even when you incur more losses, that does not bother you but obviously when you lose your Real money, it will be of great deal to you. indeed you can practice and test your strategies in demo account but testing that on live account with a small amount is not a bad idea, in fact it will give you better understanding and tell drawback in a better way. On the other hand, psychological impact will also be as important.
Členom od Dec 11, 2015
1462 príspevkov
Feb 05, 2017 at 13:11
That’s a great way of putting it. Demo definitely has its uses, which are very necessary and one cannot go without them, but it’s still just a tool in the end.
Členom od Oct 21, 2016
50 príspevkov
Feb 06, 2017 at 10:52
I also agree that demo is a useful tool for newbee traders especially to see how it works and for advanced traders to test a strategy before going live. I like the concept of testing first.
Trade with determination!
Členom od Jan 30, 2017
22 príspevkov
Feb 06, 2017 at 12:57
MC85 posted:jackwilliams posted:
The only difference is in demo account your real capital is not at stake whereas in real account you trade with real money.
True, but don't forget the execution and all that goes with it (like slippage etc.).
yes absolutely. all the things are of due importance and must be kept in consideration while trading .
Členom od Feb 02, 2017
32 príspevkov
Feb 07, 2017 at 11:05
FxMasterGuru posted:ema123 posted:
As a newbie trader, I have always liked the concept of demo trading before going live. Most of the brokers offer same quotes, spreads and trading conditions on both demo and live accounts. At least demo trading allows you to sharpen your trading skills, test your strategies and learns from the virtual losses. Go live once you have started earning profits consecutively in demo trading. As a new trader, all you are looking to do is learn to trade profitably and the bigger prize will follow.
As a somewhat more seasoned futures and forex trader I disagree, as demo trading has no stakes at all whatsoever and so the trader does not get even the slightest idea how does it feel to trade with REAL MONEY. So the very important psychological aspect is completely missed.
Also he/she may get the very false idea that the same strategy will work out in live trading the same way as in demo trading.
Just for the above 2 reasons I suggest even to a novice traders to open a VERY SMALL (even just $10) CENT ACCOUNT and to trade with REAL money and in REAL trading environment to avoid self-deceit and later losing precious time to rectify this self-deceit.
Yaa even you are right. Demo trading has its own loopholes. Sometimes the trader is unable to perform effectively with the live account and gets emotional when it comes to real money. This factor is missing in demo environment. But it helped me to at least learn more about trading. So I suggest it to use as a tool but i agree one should not completely rely on demo account.
Členom od Dec 11, 2015
1462 príspevkov
Feb 07, 2017 at 12:25
I agree. All that said, however, the demo account is still an indispensable tool for any trader. Yes, trading on it is not the same as trading with real money, but it also provides a safe environment to test out any new ideas, strategies, etc. without risking your money.
Členom od Feb 02, 2017
32 príspevkov
Feb 08, 2017 at 13:08
mlawson71 posted:
I agree. All that said, however, the demo account is still an indispensable tool for any trader. Yes, trading on it is not the same as trading with real money, but it also provides a safe environment to test out any new ideas, strategies, etc. without risking your money.
true that! demo account proves to be a good tool for learning more about trading and building some confidence in the newbies.
Členom od Mar 25, 2015
70 príspevkov
Feb 09, 2017 at 10:47
ema123 posted:mlawson71 posted:
I agree. All that said, however, the demo account is still an indispensable tool for any trader. Yes, trading on it is not the same as trading with real money, but it also provides a safe environment to test out any new ideas, strategies, etc. without risking your money.
true that! demo account proves to be a good tool for learning more about trading and building some confidence in the newbies.
I also agree with that! Good points!
Členom od Mar 31, 2015
43 príspevkov
Feb 09, 2017 at 14:39
ema123 posted:mlawson71 posted:
I agree. All that said, however, the demo account is still an indispensable tool for any trader. Yes, trading on it is not the same as trading with real money, but it also provides a safe environment to test out any new ideas, strategies, etc. without risking your money.
true that! demo account proves to be a good tool for learning more about trading and building some confidence in the newbies.
For how long have you been using the demo account? Are you trading live as well already?
Členom od Dec 11, 2015
1462 príspevkov
Feb 10, 2017 at 12:56
ema123 posted:mlawson71 posted:
I agree. All that said, however, the demo account is still an indispensable tool for any trader. Yes, trading on it is not the same as trading with real money, but it also provides a safe environment to test out any new ideas, strategies, etc. without risking your money.
true that! demo account proves to be a good tool for learning more about trading and building some confidence in the newbies.
My point exactly. One has to be aware, however, that the true confidence will eventually come from trading on a live account.
Členom od Mar 26, 2015
44 príspevkov
Feb 10, 2017 at 13:18
mlawson71 posted:ema123 posted:mlawson71 posted:
I agree. All that said, however, the demo account is still an indispensable tool for any trader. Yes, trading on it is not the same as trading with real money, but it also provides a safe environment to test out any new ideas, strategies, etc. without risking your money.
true that! demo account proves to be a good tool for learning more about trading and building some confidence in the newbies.
My point exactly. One has to be aware, however, that the true confidence will eventually come from trading on a live account.
Yeah, at some points the new trader has to go to the deep water to learn how to swim and get the confidence!
Trade fast, learn fast, never regret!
Členom od Dec 11, 2015
1462 príspevkov
Feb 11, 2017 at 12:22
ben08in posted:mlawson71 posted:ema123 posted:mlawson71 posted:
I agree. All that said, however, the demo account is still an indispensable tool for any trader. Yes, trading on it is not the same as trading with real money, but it also provides a safe environment to test out any new ideas, strategies, etc. without risking your money.
true that! demo account proves to be a good tool for learning more about trading and building some confidence in the newbies.
My point exactly. One has to be aware, however, that the true confidence will eventually come from trading on a live account.
Yeah, at some points the new trader has to go to the deep water to learn how to swim and get the confidence!
One just has to go into the water, it doesn’t have to be the deep water at first. Learning on a small live account initially is also a good idea.
Členom od Sep 12, 2015
1933 príspevkov
Feb 11, 2017 at 18:49
Has anyone checked out Tradenet with Meir Barak?
"They mistook leverage with genius".
Členom od Jul 09, 2015
48 príspevkov
Feb 13, 2017 at 11:06
snapdragon1970 posted:
Has anyone checked out Tradenet with Meir Barak?
Haven't heard if this. Will have a look, though.
Členom od Feb 02, 2017
33 príspevkov
Mar 17, 2017 at 12:58
A new trader can attain some knowledge through demo account and then for the practical training he should start the live account with a small amount.
Členom od Jan 11, 2017
10 príspevkov
Mar 19, 2017 at 08:21
Been using demo account for 3 months and still I dont have enough confidence. I will practice for another 3 months at least or even to January if needed. Do I really need live account to build confidence?
