The demo account is really important for all kinds of traders in particularly the newcomers. in my trading career, after passing a long time I still depend on demo account for some inevitable reason, I use all my trading strategies first of all in demo account to see the performance how it works. this approach always helps me for avoid risk in live account when trading practically. What is your experience in demo ?
Agree with you. I also frequently use demo account for trading. Even if I trade with new broker I test demo first.
As a newbie I traded on a demo account for months on end to learn the basics of trading. Even now, years later, I return to the demo account from time to time to both train and test new strategies.
Demo is the best way to practice. You wouldn't practice to be football player by only playing league matches
Beginners should trade demo account minimum for 3 months for acquiring real trading experience which is very supportive to continue a live trading in a proper way. but they don’t believe the importance of this trading place at all. so it would be better if they start minim live account instead of demo trading.
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)
BaldoN posted:
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)
I agree. To put it bluntly, it takes as long as it takes and not a day less.
Apr 26 2018 at 10:08
BaldoN posted:
I would say - there is no certain time frame like 2 or 3 or 6 months, before moving to real. Demo is useful to test new terminal functionalities and new strategy until the trader gets confidence. On other hand, too long demo trading may build up wrong habits :)
Couldnt agree more. I use test accounts when trying different methods out and such, but always try not to be so frivolous with the trading and such. Its like putting on a costume and pretend its real for a few moments and never jsut place traders to place trades. Discipline!
Take Challenges Head On
May 11 2018 at 08:53
I guess it kinda *has to be* like this: Toy in Demo, go Live ... and lose cash. Because the mind is in a completely wrong place. Demo is great, at all times (not just beginning), but there's no way around Live to get ready for Live.
Good thing there are possibilities: 1) Use the smallest lot size (0.01) in Live. If your broker's minimum is larger, use a different broker as a beginner! (E.g. I started with Trading 212, which is nice, no reason to complain, but their min is 0.05 for most pairs; swap is very tiny; spread is ok, but is better on IG and even better on FXTM; these are all I tested so far).
A BETTER alternative even: Cent (or micro) accounts. You pay €100 into a Cent account and have EUC10,000 to play with, which is just the right size for proper trading. Without the risk. But still the heat of losing real money. And the possibility to *make* real money.
Good thing there are possibilities: 1) Use the smallest lot size (0.01) in Live. If your broker's minimum is larger, use a different broker as a beginner! (E.g. I started with Trading 212, which is nice, no reason to complain, but their min is 0.05 for most pairs; swap is very tiny; spread is ok, but is better on IG and even better on FXTM; these are all I tested so far).
A BETTER alternative even: Cent (or micro) accounts. You pay €100 into a Cent account and have EUC10,000 to play with, which is just the right size for proper trading. Without the risk. But still the heat of losing real money. And the possibility to *make* real money.
Priority 1 in your life should be to find out what priority 2 is.
May 15 2018 at 11:44
Demo account is very useful. Best thing about demo account is, it give you a complete picture of real trading without charging a single penny. Demo account gives an idea of everything like cost associated with trading, spread, broker's commission, swap charges etc. Specially for new traders, never go direct with live account, practice on demo account till the time you don't feel confident about your trading decisions.
emily_smith posted:
Demo account is very useful. Best thing about demo account is, it give you a complete picture of real trading without charging a single penny. Demo account gives an idea of everything like cost associated with trading, spread, broker's commission, swap charges etc. Specially for new traders, never go direct with live account, practice on demo account till the time you don't feel confident about your trading decisions.
Demo may show the picture of the flow, spreads, charges etc. for example, but the demo cannot show you something very important - execution, depth of market and top of book. This could be tested in real environment only.
May 15 2018 at 14:19
If you can't make money with a demo account, you won't make money with a real account.
May 15 2018 at 14:41
@ComebackKing You're forgetting that a demo account doesn't have real money. So, you can't make money with it.
I'm kidding, man.
I'm kidding, man.
Priority 1 in your life should be to find out what priority 2 is.
May 15 2018 at 14:42
Yea, lol. I should have said 'money'
BaldoN posted:Absolutely agree. I even think that using Demo and LIve simultaneously for testing might be helpful as well not only for newbies .... thus you can test some experts , strategies etc.
Demo may show the picture of the flow, spreads, charges etc. for example, but the demo cannot show you something very important - execution, depth of market and top of book. This could be tested in real environment only.
Accept the loss as experience
May 17 2018 at 12:40
Random multi-per-day strategy I thought of this morning - 'get-in-the-flow' (I'm still beginner):
1) Use demo account. Pick one instrument, e.g. EUR/USD due to low spread, or one that you fancy because of its moves.
2) Bet the smallest size (i.e. 0.01 lot) up or down, doesn't matter, except if you already have a good hunch, then pick that one.
3) If you're wrong, cut your loss quickly. If you're right, try to get a stop-loss at break-even and adjust it a few times in positive direction, but leave breathing room.
4) THE IDEA IS that by playing only that one instrument, you'll not be deceived by its moves, but you'll somehow get into its flow, increasing your win-probability and win-scale.
5) If this works, slowly scale up.
6) If this still works, SWITCH TO LIVE ACCOUNT, but return to smallest lot size, because the flow as experienced by you will sure be shaken by the switch.
7) If this still works, slowly scale up.
1) Use demo account. Pick one instrument, e.g. EUR/USD due to low spread, or one that you fancy because of its moves.
2) Bet the smallest size (i.e. 0.01 lot) up or down, doesn't matter, except if you already have a good hunch, then pick that one.
3) If you're wrong, cut your loss quickly. If you're right, try to get a stop-loss at break-even and adjust it a few times in positive direction, but leave breathing room.
4) THE IDEA IS that by playing only that one instrument, you'll not be deceived by its moves, but you'll somehow get into its flow, increasing your win-probability and win-scale.
5) If this works, slowly scale up.
6) If this still works, SWITCH TO LIVE ACCOUNT, but return to smallest lot size, because the flow as experienced by you will sure be shaken by the switch.
7) If this still works, slowly scale up.
Priority 1 in your life should be to find out what priority 2 is.
May 17 2018 at 12:40
Forgot to say: First bet is random. Being in the (demo) trade makes you give a crap, so your mind aligns more fervently. Next bet is therefore less random. And so forth. So, this wasn't meant for only one trade.
Priority 1 in your life should be to find out what priority 2 is.
May 18 2018 at 12:18
Clarification: I mean this not as a long term strategy, where you *eventually* switch to a live account, but as a daily routine. Good morning. Open demo. Pick instrument. Trade, again and again, but tiny. Get in the flow. If that works, slowly scale up. If that works, switch to live but again tiny. Realign with the flow. Slowly scale up. Next day: GOTO 10
Priority 1 in your life should be to find out what priority 2 is.
Mohammadi posted:
The demo account is really important for all kinds of traders in particularly the newcomers. in my trading career, after passing a long time I still depend on demo account for some inevitable reason, I use all my trading strategies first of all in demo account to see the performance how it works. this approach always helps me for avoid risk in live account when trading practically. What is your experience in demo ?
although sometimes late, it's a way of developing trading confidence.. yet, there's this gnawing feeling that an investor/broker is behind my trades.. well, maybe it's just me...
begin fm below. no man w/ 4 aces asks for a new deal.
PrivilegeToExist posted:
Random multi-per-day strategy I thought of this morning - 'get-in-the-flow' (I'm still beginner):
1) Use demo account. Pick one instrument, e.g. EUR/USD due to low spread, or one that you fancy because of its moves.
2) Bet the smallest size (i.e. 0.01 lot) up or down, doesn't matter, except if you already have a good hunch, then pick that one.
3) If you're wrong, cut your loss quickly. If you're right, try to get a stop-loss at break-even and adjust it a few times in positive direction, but leave breathing room.
4) THE IDEA IS that by playing only that one instrument, you'll not be deceived by its moves, but you'll somehow get into its flow, increasing your win-probability and win-scale.
5) If this works, slowly scale up.
6) If this still works, SWITCH TO LIVE ACCOUNT, but return to smallest lot size, because the flow as experienced by you will sure be shaken by the switch.
7) If this still works, slowly scale up.
wow... i think that will work...
(btw, i guess its Descartes!)
begin fm below. no man w/ 4 aces asks for a new deal.
