Demo is just a tool to practice before trading and live account is where the real trading happens. I've been trading with Demo tool for a few months now and I'm still not confident enough to trade on live.
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Take your time, there is no rush to move to a live account.
I personally feel Demo Account you wont feel the emotional feeling you get when you trade with your hard earned cash.
You can trade demo account for few months to test your forex strategy and see if it works. Once your confident, you can open a real account with minimum leverage and use the lowest lot sizes like 0.01. Once your make consistent profit, you can gradually increase your size.
I personally feel Demo Account you wont feel the emotional feeling you get when you trade with your hard earned cash. You can trade demo account for few months to test your forex strategy and see if it works. Once your confident, you can open a real account with minimum leverage and use the lowest lot sizes like 0.01. Once your make consistent profit, you can gradually increase your size.
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Joined Mar 2020
|170 Posts
Demo account is for begginers and it only helps to get good experience , we should start our trading with demo account and practice in it for at least few months. We can test our strtaegy and if it works then we can go to real trading and implement out strategy there.
That's pretty common I think. The reason is simple we put heavy pressure or emotions in live account which leads to failure in live. People need to remember that we need to be emotionless to trade like in a demo. It's pretty hard but with practice it should improve.
That's pretty common I think. The reason is simple we put heavy pressure or emotions in live account which leads to failure in live. People need to remember that we need to be emotionless to trade like in a demo. It's pretty hard but with practice it should improve.
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I don't think being emotionless is healthy (or possible), but striving to remain in control of one's emotions is definitely preferable.
That's pretty common I think. The reason is simple we put heavy pressure or emotions in live account which leads to failure in live. People need to remember that we need to be emotionless to trade like in a demo. It's pretty hard but with practice it should improve.
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in reality , you cant control the motions level at al even though you have most powerful analyzing trade knowledge.
{quote} in reality , you cant control the motions level at al even though you have most powerful analyzing trade knowledge.
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Yes that's why I advocate trading approaches which are based on algorithmic trading. If you want to stop feeling emotions from trading you have to stop trading at all. thankfully it's possible but it's much more challenging task to develop algorithm and test it than gamble.
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Joined Apr 2020
|370 Posts
I think that you cannot be completely emotionless even in algo trading because even though you are not the one pulling the trigger, you still have to live with the outcome of the trade.
I think demo account is necessary for learning the little intricacies. Especially in the beginning, just being able to use the platform and make a lot of stupid little mistakes without it costing anything.
I think demo account is necessary for learning the little intricacies. Especially in the beginning, just being able to use the platform and make a lot of stupid little mistakes without it costing anything.
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Exactly. Learning the platform itself takes time, there's no point in losing money because one doesn't know still what each button does.
I always find the demo just a practicing tool to gain some basic knowledge on how the live trading works, and its also the first step to do if you have never traded live.
And Live account is where i put my gained knowledge and strategy in use when i was using the demo.
{quote} Exactly. Learning the platform itself takes time, there's no point in losing money because one doesn't know still what each button does.
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I completely agree. You have to fully grasp the operations of the trading platform before starting to trade with a real account. You can make plenty of mistakes with some of the platform’s tools and features unless you are quite familiar with them and practicing on demo comes mighty handy in this.
Well I've 2.5 M now. I've made a test with a friend, he followed my instructions and he made 10 000 USD from his demo account. Why doing 5 pips / day when you can do 40 pips a trade, 20 times a day?
I believe many of us have made it clear that you will not feel in demo account the way you would feel with live account and that is a money psychology. But if you are a newbie, do consider trading in demo so that you can understand how and what kind of strategy would be in your favor and how can you try improve or become better in trading and making the profit in trading.
{quote} I completely agree. You have to fully grasp the operations of the trading platform before starting to trade with a real account. You can make plenty of mistakes with some of the platform’s tools and features unless you are quite familiar with them and practicing on demo comes mighty handy in this.
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Exactly. That is why I don't get people who say "Oh, just start on a micro account."
{quote} Exactly. That is why I don't get people who say "Oh, just start on a micro account."
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While I do promote using a micro account but certainly not as a substitute for a demo rather using it as the first real account. Demo is not a step anyone can afford to miss out on else they're in for a certain loss.
{quote} While I do promote using a micro account but certainly not as a substitute for a demo rather using it as the first real account. Demo is not a step anyone can afford to miss out on else they're in for a certain loss.
