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Demo vs Live Account

  • #121
  • Jan 12, 2022 3:20am Jan 12, 2022 3:20am
The difference between a demo and a live account is that a demo account is used to practice your skills in forex trading, and a live account is used for actually making a profit. A demo account provides you with virtual money but no real-life value. A live account provides you with real money, which can be a very risky business. Always use proper risk management and stick to a reasonable budget.
  • #122
  • Jan 12, 2022 5:08am Jan 12, 2022 5:08am
You can never be sure until you start doing
  • #123
  • Feb 2, 2022 2:46am Feb 2, 2022 2:46am
Quoting Epeolatry
The difference between a demo and a live account is that a demo account is used to practice your skills in forex trading, and a live account is used for actually making a profit. A demo account provides you with virtual money but no real-life value. A live account provides you with real money, which can be a very risky business. Always use proper risk management and stick to a reasonable budget.
you said simple but the practical situation is totally different. even though demo is the best place for improving trading skill but traders cant , because there is no real money and we fail to keep interest to continue. this is psychology as well only this is real.
  • #124
  • Feb 4, 2022 11:05am Feb 4, 2022 11:05am
Hello all

I started trading this week with a demo account balance of $5000USD. Over the course of the past four days I have managed to grow this demo acc by $502,59 without a trading plan, no stop losses.. just HEAVY one-to-fifteen minute bar chart scalping. 110 trades - 103 wins - 7 losses. The wins are insanely larger than the losses(which were the result of poor timing on my part) ,and I can't help but think that if I were to implement a form of disciplined approach that I might actually develop even more. Maybe I'm jumping the gun here, or I'm getting way too carried away and it might just have been beginner's luck but I need an intermediate-to-experienced trader on here to let me know how I can sharpen what I believe to be raw skill.
  • #125
  • Feb 19, 2022 3:38pm Feb 19, 2022 3:38pm
Quoting BarnabaRato
Well, initially my live trading experience was completely different than my Demo! Basically Tried my demo with $5,000 Balance, but when I opened my 1st live account , then I started with only $200. Unfortunately I used big trading lot size according to my demo! As a result, I faced a huge loss within 1st 3 hours of my live trading! I lost my 1st live account too early, but I learnt from my mistake!
the only reason u failed in this way is cause u went from 5k to 200 so ur were not prepared for realistic results. u should have used 5 k live to match what you practiced on. when did this happen? and how long were you on Demo?
  • #126
  • Last Post: Feb 21, 2022 2:00am Feb 21, 2022 2:00am
Quoting Treptrader
{quote} the only reason u failed in this way is cause u went from 5k to 200 so ur were not prepared for realistic results. u should have used 5 k live to match what you practiced on. when did this happen? and how long were you on Demo?
Deceived expectations
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