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Is demo trading enough before real account?

mlawson71
Mar 15 2016 at 11:06
1487帖子
I agree, order processing speed is different between demo and live accounts. Usually it's best to compare the two by opening a small live account to see how both types of accounts behave, and if you're unhappy with the results you can always move to another broker.

kricka
Mar 16 2016 at 02:17
92帖子
It all depends on what kind of broker and platform used if it differs between demo and live accounts. I don't really think it is that much of a difference. When trading live so many other aspect comes into the picture, that can cloud our judgment to believe that when when we are trading live, everything change. Suddenly we get much more slippage, stop loss hunting and so forth. It's more of an emotional issue and psychological issue I believe. No matter the status of the account, live or demo we have to protect our trading account. Because when trading live we are trading against the best traders in the world and they won't give up their money without a fight.

" Lock in the profit and minimize the draw down "
AziH
Mar 18 2016 at 22:21
14帖子
kricka posted:
It all depends on what kind of broker and platform used if it differs between demo and live accounts. I don't really think it is that much of a difference. When trading live so many other aspect comes into the picture, that can cloud our judgment to believe that when when we are trading live, everything change. Suddenly we get much more slippage, stop loss hunting and so forth. It's more of an emotional issue and psychological issue I believe. No matter the status of the account, live or demo we have to protect our trading account. Because when trading live we are trading against the best traders in the world and they won't give up their money without a fight.


I think it is true, the right way is to become one of best traders in the world you written about ;) And about live/demo, by different brokers, I not notieced yet that any huge news or other different sources of volatility would have same effect to demo as to live.

kricka
Mar 19 2016 at 03:03
92帖子
AziH,
thanks for you kind words. Well, actually we don't need to become one of the 'best traders in the world'. We can reap the rewards and benefits of their mistakes. Every trader make mistakes, even the top notch ones included. What is the trademark of a really good trader? I will try to list a few trademarks below that comes to my mind, in order.

1. Risk and money management
2. Trade with the trend
3. Go against the trend when it's oversold or overbought.
4. Place the stop loss and target above or below resistant levels.
5. Do not trade during news releases, unless absolutely necessary.
6. Never overtrade if the daily or weekly goal is achieved.
7. Stop trading if the trading is not in sync with the market.
8. Positive thinking and the right trading psychology.
9. Never give up even if there is a downturn in the performance.
10. Always remember there is a new trading day tomorrow.

These are just a few and I guess one could list hundreds more or so, to make this list complete :).

" Lock in the profit and minimize the draw down "
chrish9070 (chrish9070)
Mar 22 2016 at 17:35
45帖子
Money and risk management are the most important but finding someone who trades for a living is the best possible way. Also for new traders is better to trade the higher timeframes rather than the lower 5/15 min timeframes as these moves are made to breed confusion amongst traders and unless you understand how the market really works/moves then you will get into trouble quite quickly

mlawson71
Mar 29 2016 at 10:03
1487帖子
chrish9070 posted:
Money and risk management are the most important but finding someone who trades for a living is the best possible way. Also for new traders is better to trade the higher timeframes rather than the lower 5/15 min timeframes as these moves are made to breed confusion amongst traders and unless you understand how the market really works/moves then you will get into trouble quite quickly


Generally what time-frame one will trade on depends on their strategy. Some people use pretty profitable strategies using the smaller time-frames. That said, in my own personal experience, 4-hour and daily time-frames give the most reliable signals.

stian
Mar 29 2016 at 15:51
325帖子
It all depends on the strategy. Long trades with larger TP targets won't be much different in demo than in real. Scalper or news trade however is not realistically traded on, no matter what.

mlawson71
Mar 30 2016 at 09:30
1487帖子
stian posted:
It all depends on the strategy. Long trades with larger TP targets won't be much different in demo than in real. Scalper or news trade however is not realistically traded on, no matter what.


True. Both scalping and news trading hugely depend on broker conditions, and those vary widely.

flipper58
Apr 01 2016 at 09:01
16帖子
As Mark Douglas said, paper trading or demo trading is very good for showing us our 'profit gap' and most of us have them, the difference between our results on demo/paper trading versus live. It shows us how much we need to improve. Personally I believe demo accounts have been very helful but that's just me.

To the OP, 'is that enough?'. When I first started trading a few years ago I just read heaps for about 4-5 months before I even opened a demo account and I constantly read from the pros that it takes 3-5 years to 'get it'. I thought yeah right, not me, I'll blitz this thing in less than 12 months! I'm well in to my 4th year now and I was only thinking the other day how right they are and how wrong was I. Anyone can get good results over a relatively short period of time but consistent results takes an enormous amount of time spent, development both personal and system wise and a pinch of good luck.

I wish you all the best on your journey!


jchan
Apr 01 2016 at 11:26
15帖子
hello flipper58, you said lots of people can get good result but can't sustain it, is it because the market will mutate every once in a while....so that's why demanding traders to act accordingly....? without firm grip of methodology and flexibility cannot keep up w/ a good positive result? Thanks for sharing.

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