The demo doesn't make you a professional. It just makes you better! Many newcomers to Forex trading think that demo trading is not a good way to make the transition from a newbie to a pro. Demo trading is a great way for a new trader to get a feel of the market without really risking any real money.
Demo trading will save you from losing your hard-earned money. It will let you practice and learn how to trade with less risk of getting burned. You can also test your system and analyze your strategy for free. This will give you the chance to see if you are doing it right.
Demo accounts remain useful for beginners, but for experienced traders demo accounts cant give them psychological pressure, because treating fake money is different with treat real money, in real money as traders will be more enthusiastic in trading and make their emotions play in minds, when face with loss, and when get profit, emotion will up and down like as the price wave.
Demo trading doesn't have such a purpose to make you well experienced I think. The main objective of demo trading is to teach you how to understand everything that happens to the market. No doubts, that sometimes people overestimate the essence of demo trading, as well as sometimes these people can underestimate the presence of demo trading. In my opinion, traders have to take it for granted, because it literally is the ticket to trading activity. Of course, some traders neglect demo trading because they are sure that they will handle the market on their own without any help or education. So, here all traders have to decide for them what is more important.
Yes, demo accounts can’t make you a full trader because you learn trading when you trade in the live trading environment. With demo accounts, however, you can develop trading skills. They are useful to backtest and create trading strategies. But if traders want to make money in forex, then they need to practise in live trading market where they will know about risk management and psychology, the two very important parts of being a profitable forex trader.
I admit that it can be true, but as of now I can’t trade on a real account because I lack experience. I have some extra money to deposit on a real account but I don’t want to lose this amount from the very beginning. I trade on a demo account and I see that much needs to be improved until I finally dare to risk my own money.
AlexWood posted: I admit that it can be true, but as of now I can’t trade on a real account because I lack experience. I have some extra money to deposit on a real account but I don’t want to lose this amount from the very beginning. I trade on a demo account and I see that much needs to be improved until I finally dare to risk my own money.
Demo helps to develop trading experience. This is not real money but demo platform is very important for developing skills.
Demo can’t make you a trader because it isn’t the same as the actual trading platform. There are some loopholes; you don’t risk money from your pocket; and you don’t trade with emotions. These two aspects are important to become a forex trader. Demo accounts are helpful to train and develop trading skills, but can’t turn you fully into a pro trader.
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