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DEMO ACCOUNT vs LIVE ACCOUNT

mlawson71
May 27 2017 at 08:22
1487帖子
Bohdan73 posted:
Professional4X posted:
I agree with you. If a person develops good skills, controlled emotional discipline, and a solid understanding of what really moves the markets, you can make a very good income from trading. But it takes a lot of work and education in order to make a good income from it.

This is the holy grail of trading what you explain. Everyone should strive for it 😄 I agree that it takes lot of work!

I agree. That is the only holy grail of trading, in my opinion - hard work. To study, to practice, to learn from one's mistakes. There are no shortcuts.
manolo83 (manolo83)
May 30 2017 at 06:36
11帖子
12 months demo and since 10 month with real
mlawson71
May 31 2017 at 12:01
1487帖子
manolo83 posted:
12 months demo and since 10 month with real

Are you satisfied with the results of either?
UweMoench
Jun 29 2021 at 12:53
751帖子
The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.
lavaplanet
Jun 30 2021 at 12:56
9帖子
UweMoench posted:
The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.


I cannot add any more. This post IS the answer to the thread
AndrewMcCalam54
Jul 01 2021 at 13:23
132帖子
the main different between demo and live is all about psychology , nothing without it , in reality there is no technical different between two.
RobSchiz
Jul 01 2021 at 17:36
567帖子
UweMoench posted:
The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.
Demo account is the most effective way to learn forex properly.
LyudmilLukanov
Jul 06 2021 at 13:25
869帖子
Both accounts are essential for learning.
MauMar
Jul 06 2021 at 18:09
5帖子
I would suggest starting out with a demo account for at least a year before attempting to trade on a live account. You should minimalize your risks.
RobertFerrari
Nov 11 2021 at 08:01
415帖子
MauMar posted:
I would suggest starting out with a demo account for at least a year before attempting to trade on a live account. You should minimalize your risks.
You are right.
Akasuki
Dec 22 2021 at 05:49
617帖子
LyudmilLukanov posted:
Both accounts are essential for learning.
Basically they both are same the difference is that the live account has real money involved, although you have traded in the Demo accounts , their is this psychological factor comes into play which might hinder your decisions.
lauraJohnson
Dec 22 2022 at 10:31
40帖子
Akasuki posted:
LyudmilLukanov posted:
Both accounts are essential for learning.
Basically they both are same the difference is that the live account has real money involved, although you have traded in the Demo accounts , their is this psychological factor comes into play which might hinder your decisions.
That is absolutely right! But still, it is important to practice first on a demo account and then go live.
HeavenLeighGill (HeavLeighGill26)
Dec 26 2022 at 15:36
401帖子
It's almost identical. Only thing is that there is a difference from a psychological standpoint.
Adam (Glossy)
Dec 27 2022 at 17:51
16帖子
I think beginners will be surprised to learn how many experienced traders use demo accounts to test strategies.
Jamerson
Jan 23 at 07:06
46帖子
A demo account is a tool for traders to learn about forex trading and try new strategies without taking any real risk.

The live account includes real risk and money, so traders use their demo account practices to avoid losses.
Davidfx89
Feb 02 at 05:55
206帖子
learning is very important , there is no way to ignore but any kind of learning can be useless if there is no regular level of practice.
Bolidor09
Feb 02 at 21:01
6帖子
Not long ago I lost all my funds in one gap...
Now I'm back to the demo...
Chan (8christianpaul8)
Feb 03 at 03:23
120帖子
For me, demo is good to be familiar with how the trading platform works. However, if you want the real trading experience, you need some money on the line. It doesn't have to be big, you just need to have the same feelings or emotions when trading a bigger account. With demo, you tend to be reckless with your trades because you have nothing to lose and that might lead to a bad habit.
Trading is a marathon, not a sprint.
Aubrey22
Feb 03 at 08:16
55帖子
The goal of the demo is to become acquainted with the trading mechanism. Another goal of the demo is to put your strategy to the test. Continue to demo until you find a proven method.

On demo, define your entry, exit, risk, reward, and risk management policies. You can begin live trading once you are convinced.
davesper
Feb 05 at 10:55
187帖子
It is important to understand that the main difference is the ability to work not with your own money on a demo account. In fact, this difference is the most important in the process of work.
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