The demo account is the master

right now i am with demo account and practicing price action , it supports me to see the performance how it works .

practice is important and for that demo is a good choice , but i dont like this, i always try to maintain live account with minor balance . its supportive to acquire live knowledge and experience.

Yes, the demo account can actually make you the master. it all depends on the level of seriousness.

Michihito posted:
The demo account is the master place for a beginner to acquire all basic fundamental information which is very supportive to continue a live account in a proper way. But practically most of the beginners don’t believe the importance of this trading place at all. In my trading career, I use all my trading strategies in demo trading to see the performance how it works.

you have to demo every strategy

Demo trading can transform you from a normal trader to a professional trader. A perfect platform for gaining experience. A profitable strategy can be developed on that platform.

Yes i agree completely. It is perfect for trialling a strategy and for working on entries. You will need to go live to help with psychology though

That is a good strategy if you ask me, and I see no harm in testing your trades before going live. I trust demos as well.

LukeRachel posted:
Demo trading can transform you from a normal trader to a professional trader. A perfect platform for gaining experience. A profitable strategy can be developed on that platform.

Yes. a demo can be the good option to learn and practice trading.

Yes demo trading is important. We can't try a strategy directly into live account because we do not know how it will work for us. So it's safe to try any strategy on demo first.

i always try to support micro account which is always supportive to bring live knowledge and experience.

Demo account is really helpful for both new and old traders.

New traders who do not practise demo trading are doomed to fail. Although demo trading is not exactly the same as real trading, it does prepare traders with good trading skills and strategies.

Michihito posted:
The demo account is the master place for a beginner to acquire all basic fundamental information which is very supportive to continue a live account in a proper way. But practically most of the beginners don’t believe the importance of this trading place at all. In my trading career, I use all my trading strategies in demo trading to see the performance how it works.

You are right on this note. I believe demo trading is a great option, which is a wonderful gift for the traders. We often ignore to deal with demo trading accordingly. If a trader trades on demo account to learn the ropes of this market, he should be able to be a good trader with very minimum damage.

RobSchiz posted:

Fx_howie posted:
Demo account is really helpful for both new and old traders.

Demo account is the best place to practice as a newbie.

Yes, demo is the best place for a newbie to practice. However, I believe it is good option for an experienced trader as well. An experienced trader can test his new strategy on a demo account without having any loss, stress, tension.

I will still take trades on a demo account after taking a live trade the same day. If I don't 'need' to trade live then I will do so on demo if only to build confirmation in my strategy. The demo trades will still get added to my journal as well.

demo is the best way for testing new strategies and seeing what works and what does not