Is demo trading enough before real account?

An absolute NO! Demo trading is beneficial for traders to have trading skills and strategies. However, traders don’t trade demo trading like they would trade their real money. In live trading, traders need to have good risk and money management, along with control on emotions. You can consider moving to live once you have started making consistent profits on demo trading. However, make sure you start with a micro account. Live trading will be a challenging yet a meaningful experience.

You absolutely must back and forward test a strategy before you start using it in the live markets on a real account which is what a demo is, you must know that you will never be ready to trade a real account, you will never be qualified to trade a real account until you have actually traded that real account and proven to be consistently profitable. It is important that you are profitable on a demo before you start trading for real but being profitable on demo does not guarantee that you will be profitable on a real account.

Karen,your right regarding using the Demo/Sim. But

If your profitable on a demo there is no reason you will not be profitable on a live account.


Unless,

Psychology/ mind set / read Steve Wards books on that.

Your Broker is ok on the demo,but pissing you about on a live account ?

Demo trading is a great way to get started in forex trading. It allows you to trade in a simulated environment, which is very close to the real thing, without the risk of losing real money. It is a great way to get used to trading strategies and analyze the market before making actual trades with your real money.

Demo trading is helpful for preparing traders with the right set of trading skills and strategies. But surely it’s not enough. Traders need to have risk management because in demo some traders ignore that. Besides that, traders need to be more emotionally aware to make profits.

i love doing demo account because this trading platform always gives me live knowledge and experience even though there is no real money.

I am not a fan of judging an EA by its backtesting as there is too much artificial curve fitting to make it look it as good as possible but falters long term under real world conditions. I've seen many an EA like that. For me, my EA has been forward tested since 2018 on demo accounts to see if it is generally viable theoretically for more than a year. Once it was after 3 years, I put my own money on real money trade accounts with my broker which I have publicly posted my results on my profile. My demo accounts are still active till this day and compared to my real money accounts, the trading records between the both of them slightly differ, but not materially.

Demo trading is beneficial prior to go live with trading. However, demo trading should be conducted in accordance with specific guidelines and risk management guidelines.

It's enough, however you should also learn theory because it also matters a lot. In my opinion, new traders have to get acquainted with the theory first and only thn they can choose a broker and start trading on demo account. Everything because theory gives you an opportunity to start learning how to trade. Of course, some tradesr prefer practicing without learning various features of trading activity, nevertheless I personally can't consider this way as successful one. Moreover, if ou wnat to become a successful trader in future, you are obliged to be acquianted with theoretical part of trading.

It's enough but of course you have to master your skills due to simultaneous learning. I know that even professional traders continue master their skills with learning even if they have constant profits on the market. Here everything because forex trading develops daily and there are plenty of things which appear daily. In my opinion, demo trading is cool, it meets you with trading activity and let you understand how the forex market works. In other cases, demo trading is useless. The matter here is your practicing on a real account and daily exploration of various new things on the market.

the result of trading demo can be useless if you not trade in there with more focus , so be careful when trading even though there is no real money.

I think that there’s no alternative to demo trading. I also trade on a demo account and I already see that it teaches much better than watching video guides from various gurus, reading thematic articles, etc. I think only trading on a real account could be better in terms of gaining experience, but I will do it later. I want to practice more trading strategies before shifting to a real account. I do believe that a real account will teach me more but I feel I should have more practice on a demo account before I start risking my real capital.

Many a broker fails to provide traders with the required amount of security and never make sure instant support. These brokers also make issues at the time of withdrawing money.

I believe that before going live it's really important to practice in the demo account first. I am reading and researching more about it.

fiona_78 posted:
I believe that before going live it's really important to practice in the demo account first. I am reading and researching more about it.

Demo trading can be quite beneficial as traders get to test out strategies and spend time understanding the trading process through virtual currency. This boosts confidence and gives them a higher chance of succeeding in the marketplace.
 

Beginner traders can understand price movements and it gives them the confidence to trade on a live account.