DislikedDemo is great but must be so careful of too much confidence it loads. Its never the same with real accounts, especially the psychology. And I believe that maths is the best tool of a trader for risk management, money management, and trading decisions as well. Another so very significant thing is that not to forget that all the patterns, indicators, etc. look perfect when you look back, and therefore back testing may much differ than the future testing.Ignored
I have never thought demo was any way helpful. Yes ok maybe to learn the platfrom placing orders etc but as a trading tool pointless. Most of trading is psychology. You will not feel pain in a demo. YOU NEED TO FEEL THE PAIN !!! hahaha. The sooner you get over the fact that its ok to lose your trading will start to improve. I much rather put a small amount of money in an account which really... i mean really you dont care about losing and trade as small as possible and do it that way. But everyone is different just my thoughts.
{quote} You can simulate the pain/mental pressure on a demo... just open a demo account but before you trade it, give the investor password to 10 or more people that know you and tell them exactly what you are doing (your trading strategy in detail) and ask them to watch the account, better yet ask them to look over your shoulder while you trade to see what you are doing.. also give your spouse the investor password and have him/her also watch the account..
that's actually a really good idea never thought of that but yea excellent idea
- #224
- Oct 24, 2019 12:16pm Oct 24, 2019 12:16pm
- | Additional Username | Joined Dec 2015 | 3,529 Posts
{quote} You can simulate the pain/mental pressure on a demo... just open a demo account but before you trade it, give the investor password to 10 or more people that know you and tell them exactly what you are doing (your trading strategy in detail) and ask them to watch the account, better yet ask them to look over your shoulder while you trade to see what you are doing.. also give your spouse the investor password and have him/her also watch the account..
- #233
- Edited Nov 9, 2019 3:00am Nov 8, 2019 1:29pm | Edited Nov 9, 2019 3:00am
I trade on forex last seven years, first two years I were losing money, second two I was on positive zero, and last three years I am earning money.
There is no secret recipe for success, everyone needs to find their way.
From my experience the five most important things in order of importance are:
1. Open demo account (you need to know what you do and how things work before you invest your money)
2. Money management (it is more important then trading skills, there is no perfect trader everyone have bad trades, but good money management protect you from loosing all money)
3. Find strategy that suits to you and stick to her (do not invent hot water)
4. Find a good broker with quality and cheap service (there are many good brokers, but even more bad brokers that are hunting for beginners)
5. don't give up there will be good and bad moments, but if you stick to the first 4 tips there will be more good moments over time
When I was a beginner I read similar posts and I did not fully understand them but over time I realized their accuracy.
If I had known at the beginning what I know now I would saved a lot of money, time and nerves, but every school costs
I hope I helped someone with tips.
I wish you happy trading
There is no secret recipe for success, everyone needs to find their way.
From my experience the five most important things in order of importance are:
1. Open demo account (you need to know what you do and how things work before you invest your money)
2. Money management (it is more important then trading skills, there is no perfect trader everyone have bad trades, but good money management protect you from loosing all money)
3. Find strategy that suits to you and stick to her (do not invent hot water)
4. Find a good broker with quality and cheap service (there are many good brokers, but even more bad brokers that are hunting for beginners)
5. don't give up there will be good and bad moments, but if you stick to the first 4 tips there will be more good moments over time
When I was a beginner I read similar posts and I did not fully understand them but over time I realized their accuracy.
If I had known at the beginning what I know now I would saved a lot of money, time and nerves, but every school costs
I hope I helped someone with tips.
I wish you happy trading
- #239
- Nov 14, 2019 12:36pm Nov 14, 2019 12:36pm
- | Additional Username | Joined Dec 2015 | 3,529 Posts