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Is demo a step before real trading?

  • #421
  • Aug 30, 2019 10:22am Aug 30, 2019 10:22am
Not sure if under right thread. If not csn you direct me to the right place to post as a newbie.

The amount of experience i have trading amounts to demo trading systems frim Google play forex for beginners. Where i learnt to open trades with stop loss and take profit. Understand the concept of using trends to predict future direction. However, know nothing about recognizing and trscking trends. The rest is jusy trial and error by pushing this button and that. For a total of 3 mnths. Aside from holding long positions by buying crypto low and selling when high. Making a profit by converfing to stablecoin. Thats all the trsding experience I have. The exciting part of trading for me relates to my retail background the rush i get when closing a deal with a nice profit and a happy customer.

I want to learn to trade successfully like i learnt to mske a profit in retail by finding the right products at the right price to consistently make profits.

My question is, hsving read my experience level, where should i start my learning. What to focus on first. Step by step. No corner cuts.

Im very grateful to be in this forum. And appreciate any suggestions regarding where i should be starting my focus as a newbie.

Thanks, Marco
  • #422
  • Aug 30, 2019 12:19pm Aug 30, 2019 12:19pm
Quoting Cryforhelp
Not sure if under right thread. If not csn you direct me to the right place to post as a newbie. The amount of experience i have trading amounts to demo trading systems frim Google play forex for beginners. Where i learnt to open trades with stop loss and take profit. Understand the concept of using trends to predict future direction. However, know nothing about recognizing and trscking trends. The rest is jusy trial and error by pushing this button and that. For a total of 3 mnths. Aside from holding long positions by buying crypto low and selling...
You are welcome here! This is the best Forex community & learning way of Forex! So; keep spending time here; & update your own trading skill!
  • #423
  • Sep 4, 2019 11:37am Sep 4, 2019 11:37am
True, ForexFactory is a great place to learn about forex and connect with other traders!
  • #424
  • Sep 4, 2019 10:33pm Sep 4, 2019 10:33pm
I'm fairly new myself and I decided to setup a live account with $100.

That really is not much in my view and there is no real attachment to that money. I also heard of some brokers compromising demos so that scares me a bit as well. However, it is fully up to you in how you decide to do it. The one thing is don't put more than very very little. Putting something like $5000 will cause you to burn fast.
  • #425
  • Sep 5, 2019 3:23am Sep 5, 2019 3:23am
Is it a "must"? no, it isn't.

But as most parents said to most kids - you need to learn to walk before you can run.

And a demo account is the Forex parallel to walking before "running" with real money.
Besides - if you're new to something and are given the chance to train at becoming better at it without risk to yourself or your money, why not take that opportunity?

I took over a year of messing about with demo account before I made the leap to trading with REAL money.

Not everyone takes that long, but I would highly recommend that you take at least SOME time before making the leap.
  • #426
  • Sep 5, 2019 10:59am Sep 5, 2019 10:59am
Quoting Ray316
Is it a "must"? no, it isn't. But as most parents said to most kids - you need to learn to walk before you can run. And a demo account is the Forex parallel to walking before "running" with real money. Besides - if you're new to something and are given the chance to train at becoming better at it without risk to yourself or your money, why not take that opportunity? I took over a year of messing about with demo account before I made the leap to trading with REAL money. Not everyone takes that long, but I would highly recommend that you take at least...
My thoughts exactly. There are no set rules about what one has to do when they're learning how to trade, but there are some common sense practices that are good to be followed.
  • #427
  • Sep 5, 2019 2:59pm Sep 5, 2019 2:59pm
Quoting Ray316
Is it a "must"? no, it isn't. But as most parents said to most kids - you need to learn to walk before you can run. And a demo account is the Forex parallel to walking before "running" with real money. Besides - if you're new to something and are given the chance to train at becoming better at it without risk to yourself or your money, why not take that opportunity? I took over a year of messing about with demo account before I made the leap to trading with REAL money. Not everyone takes that long, but I would highly recommend that you take at least...
. I definitely agree. I just recently added real funds to my account after trading on demo for 5 months. In retrospect I wouldn't have done it any other way.
  • #428
  • Sep 6, 2019 11:22am Sep 6, 2019 11:22am
Quoting charlieb410
{quote} . I definitely agree. I just recently added real funds to my account after trading on demo for 5 months. In retrospect I wouldn't have done it any other way.
I hope your live account trading is going well!
  • #429
  • Sep 7, 2019 2:54am Sep 7, 2019 2:54am
after a long time i have joined this forum and seeing still there is a controversy between demo and live , sounds positive. by the way hello everyone.
  • #430
  • Sep 7, 2019 11:55am Sep 7, 2019 11:55am
Quoting AdamCrist
after a long time i have joined this forum and seeing still there is a controversy between demo and live , sounds positive. by the way hello everyone.
Which part sounds positive?
  • #431
  • Sep 11, 2019 12:02am Sep 11, 2019 12:02am
Demos are good to learn platform and practice getting discipline but you need to remember that there are now going to be consequences when going live as opposed to on demo.
  • #432
  • Sep 11, 2019 11:33am Sep 11, 2019 11:33am
Quoting ChopinTrader
Demos are good to learn platform and practice getting discipline but you need to remember that there are now going to be consequences when going live as opposed to on demo.
Unfortunately a lot of newbies seem not to pay attention to that detail.
  • #433
  • Sep 11, 2019 3:18pm Sep 11, 2019 3:18pm
Quoting ChopinTrader
Demos are good to learn platform and practice getting discipline but you need to remember that there are now going to be consequences when going live as opposed to on demo.
Starting with demo is of course good, but for a newbie need more study and close demon ASAP.
  • #434
  • Sep 11, 2019 3:22pm Sep 11, 2019 3:22pm
I've never traded a demo account before. I started just trading live with a small amount about 2 years ago. I understand some people prefer to demo first but I wanted to learn by trading real money. I just made sure I made my mistakes I knew I would make with tiny accounts. Once I felt comfortable I started putting higher amounts in.
  • #435
  • Sep 12, 2019 2:27pm Sep 12, 2019 2:27pm
It might be step but unlike "other" games... the market and all the rest is pretty much the same (aside of some "special" or additional tools one might get at live...)..
So if you can DOUBLE the account at demo, you could do that in REAL... The difference would be just your possible emotions kicking it.. Otherwise the game is the same... I would not focus on the demo/real or account size or anything.. just find your JUICE (component) and either trade it, sell it, or whatever.. Just find your edge/juice.. all the rest would follow.. You can even hire some people to set you up, optimise some things... But do get the juice.. If you can't find it.. it wouldn't matter if you had 10 10k+ real accounts... But if you can trade 1EUR DEMO account trades.. from your mobile phone while doing whatever... to the MASSIVE and/or consistent returns.. Do report... and all the rest will follow
Can you afford to take that chance?
  • #436
  • Sep 15, 2019 11:08am Sep 15, 2019 11:08am
Quoting ReikoBe
I've never traded a demo account before. I started just trading live with a small amount about 2 years ago. I understand some people prefer to demo first but I wanted to learn by trading real money. I just made sure I made my mistakes I knew I would make with tiny accounts. Once I felt comfortable I started putting higher amounts in.
Yes, there is no better teacher than learning with real money on the line!
  • #437
  • Sep 15, 2019 11:52pm Sep 15, 2019 11:52pm
Quoting ReikoBe
I've never traded a demo account before. I started just trading live with a small amount about 2 years ago. I understand some people prefer to demo first but I wanted to learn by trading real money. I just made sure I made my mistakes I knew I would make with tiny accounts. Once I felt comfortable I started putting higher amounts in.
i dont agree, real account always can make beginners greedy and emotional. its a risky approach
  • #438
  • Sep 17, 2019 6:56am Sep 17, 2019 6:56am
Quoting MarkFxAnde
{quote} i dont agree, real account always can make beginners greedy and emotional. its a risky approach
i agree, but without risk there won't be proper learning. and a real account need not be with a $100 deposit but a micro account will do just fine, you know only $5 and trade and then one can increase amount gradually.
  • #439
  • Sep 17, 2019 9:27am Sep 17, 2019 9:27am
Quoting ReikoBe
I've never traded a demo account before. I started just trading live with a small amount about 2 years ago. I understand some people prefer to demo first but I wanted to learn by trading real money. I just made sure I made my mistakes I knew I would make with tiny accounts. Once I felt comfortable I started putting higher amounts in.
As I see; this way is also popular instead of demo; no argue! But till now, demo is the best & much popular way to start with!
  • #440
  • Sep 18, 2019 10:57am Sep 18, 2019 10:57am
Is it more popular? Are there any statistics about either?
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