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Is demo a step before real trading?

  • #221
  • Jun 6, 2017 2:14pm Jun 6, 2017 2:14pm
Normal , abnormal is not a matter , we just have to leave binary options because of its volatile nature , I have never used at any binary option because I don’t feel secure and comfortable in here and there is no credible binary option broker which we can trust.
  • #222
  • Jun 7, 2017 12:55am Jun 7, 2017 12:55am
Demo is for the first steps to understand how things go, or to try out a strategy or system. After a few months with demo go for a small live to overcome the other psych hurdles with real money. If you blow the Live account repeat again with demo.
@Monte87 avoid binaries at any cost don’t get sucked in the spammers world.
  • #223
  • Jun 7, 2017 3:16am Jun 7, 2017 3:16am
Quoting MarkFxAnde
Any casino is better than any binary options.
Yep!!
  • #224
  • Dec 28, 2017 5:51am Dec 28, 2017 5:51am
Quoting titantron91
Yes. But it'll only help if you actually study and learn while you demo trade.
So true; without learning approach there is no value for the demo practices! I see, few traders concentrate on counting their practice session instead of learning! As a result, I lose their own money when they try to the live trading! No doubt, demo is the most reliable opportunity to learn Forex and improving trading skill, but there have only few traders who are serious to learn in the demo!
  • #225
  • Dec 28, 2017 9:04am Dec 28, 2017 9:04am
Nice!!

But the most important thing is the difference between real and demo is huge!!! Your mind doesnt work in the same way in both cases. You can win a lot of money in the account demo and then lose everything. Dont thing you will be a good trader only becouse you beat the market now but it is important do it well before a real account. Well done!!
  • #226
  • Dec 29, 2017 12:22pm Dec 29, 2017 12:22pm
Demo is prior step before real account, you need to atleast have about 6 months of Demo practice before the Live account.
  • #227
  • Dec 30, 2017 9:45am Dec 30, 2017 9:45am
Quoting GodfatherSam
Demo is prior step before real account, you need to atleast have about 6 months of Demo practice before the Live account.
Some people need less, others need quite a lot more, but generally speaking, I agree that six months is usually the shortest period one should trade on a demo account before moving onto a live one.
  • #228
  • Dec 31, 2017 10:02am Dec 31, 2017 10:02am
The learning process is different for everyone. But likewise, everyone will try and teach you their way.

Disclaimer: Im not trading for a living, so I may not know what the f I'm talking about.

I think it will take the OP, many demo accounts, and many live accounts. It will take everything you've got, and more. So be wary with live accounts. Don't put down more than you ought to. Check and double check everything.

You are up against the smartest people in the world, they aren't going to give you any easy money. They will take it for themselves.

Demo is a step, I would use it, but i would not hold it in so much esteem. It is a rudimentary tool in the most dynamic game in the world. don't forget to add the broker charges. They add up significantly with lower pip values. For example, my latest broker calculations mean i need 1.2 pips to break even. I used to think 1.2 pips was a windfall!

Happy New Year!
Why is a Raven like a Writing Desk?
  • #229
  • Jan 5, 2018 10:56pm Jan 5, 2018 10:56pm
Demo accounts usually have tighter spread and faster execution time. So in real account, you might experience your order get rejected or wider spreads.
  • #230
  • Jan 6, 2018 9:43am Jan 6, 2018 9:43am
Quoting Butterscotch
Demo accounts usually have tighter spread and faster execution time. So in real account, you might experience your order get rejected or wider spreads.
True. Another thing I experienced with some of the brokers I've had over the years - I lost server connection during major news events. That is, I only lost server connection on my live accound.
  • #231
  • Jan 20, 2018 7:11am Jan 20, 2018 7:11am
Quoting mlawson71
{quote} True. Another thing I experienced with some of the brokers I've had over the years - I lost server connection during major news events. That is, I only lost server connection on my live accound.
Yes, there have so many types of Forex brokers; a number of them are the market maker! Definitely, you wouldn’t face such a condition (connection off during the high voltage news session) in a good Forex broker!
  • #232
  • Jan 21, 2018 9:06am Jan 21, 2018 9:06am
Quoting GeorgeBaile
{quote} Yes, there have so many types of Forex brokers; a number of them are the market maker! Definitely, you wouldn’t face such a condition (connection off during the high voltage news session) in a good Forex broker!
True. Unfortunately figuring out which broker is good and which isn't takes time. One should certainly do a lot of research before signing up with a broker, at the very least to weed out the outright scammers. If they're lucky they'd find reviews that complain about various unethical practices like the one I described. But sometimes those practices become obvious only when you've already invested money, and that is very annoying.
  • #233
  • Jan 25, 2018 3:06am Jan 25, 2018 3:06am
Quoting mlawson71
{quote} True. Unfortunately figuring out which broker is good and which isn't takes time. One should certainly do a lot of research before signing up with a broker, at the very least to weed out the outright scammers. If they're lucky they'd find reviews that complain about various unethical practices like the one I described. But sometimes those practices become obvious only when you've already invested money, and that is very annoying.
If you want to figure out, which broker is good, you need to concentrate on 3 things: trading costs (spread + commission), min. deposit and review on the internet.
  • #234
  • Jan 25, 2018 8:36am Jan 25, 2018 8:36am
Quoting Doby06
{quote} If you want to figure out, which broker is good, you need to concentrate on 3 things: trading costs (spread + commission), min. deposit and review on the internet.
I would add a fourth - before you even go looking for reviews make sure that broker is properly licensed by a reputable regulator, rather than not at all or in an offshore zone somewhere.
  • #235
  • Feb 7, 2018 4:13am Feb 7, 2018 4:13am
We can’t ignore the importance of demo trading as a beginner level, but practically there is no emotions when trading in a demo on the other hand in live trading there is no none who can avoid emotions for every faction. That’s why the experience of demo account not works for all time in live, and for that reason sometimes I prefer micro account instead of demo.
  • #236
  • Feb 7, 2018 9:30am Feb 7, 2018 9:30am
Quoting MarkFxAnde
We can’t ignore the importance of demo trading as a beginner level, but practically there is no emotions when trading in a demo on the other hand in live trading there is no none who can avoid emotions for every faction. That’s why the experience of demo account not works for all time in live, and for that reason sometimes I prefer micro account instead of demo.
For how long did you trade on demo before moving onto micro account trading?
  • #237
  • Feb 7, 2018 12:52pm Feb 7, 2018 12:52pm
Quoting sshhmmuueell
Hi opened a demo and would like to hear some comments {image}
Simulation is the middle step between the demo & live.
  • #238
  • Feb 8, 2018 4:01am Feb 8, 2018 4:01am
Quoting mlawson71
{quote} For how long did you trade on demo before moving onto micro account trading?
It depends on your trading condition. Generally it is more appropriate to pass minimum 3 months in a demo account before starting a micro account. in my trading career , I have used very little time in demo because I lost interest from here . then I kicked my live trading with a small balance but I was not profitable in micro due to lack of exact trading knowledge but of course I took real trading experience which always help me to survive in here.
  • #239
  • Feb 9, 2018 8:50am Feb 9, 2018 8:50am
Quoting MarkFxAnde
{quote} It depends on your trading condition. Generally it is more appropriate to pass minimum 3 months in a demo account before starting a micro account. in my trading career , I have used very little time in demo because I lost interest from here . then I kicked my live trading with a small balance but I was not profitable in micro due to lack of exact trading knowledge but of course I took real trading experience which always help me to survive in here.
I see. I, personally, think one should spend a little longer than three months on a demo account, but to each their own. Also, in my opinion, one should not be afraid to return to the demo account occasionally if they feel the need to do it.
  • #240
  • Feb 9, 2018 11:07pm Feb 9, 2018 11:07pm
Quoting sshhmmuueell
Hi opened a demo and would like to hear some comments {image}
Yes demo is a step. It's a wrong decision not to use demo before live trading. To know how the online trading system works you need to practice in demo. You also need demo account to test your strategy. You can't test your strategy in real account. It may incure huge loss. But yes real learning start with real money then too you need demo.
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