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Demo vs Live Account

Quoting tradergirl12
Demo is fun but nothing close to real deal
according to me, every part of trading is fun if you can enjoy it.
Quoting NathanAstel
{quote} according to me, every part of trading is fun if you can enjoy it.
That's a very good and positive state of mind.
there is no different between demo and live , just a psychological difference , there is no emotions when trading in a demo , but in live we cant avoid the emotions , thats why the result we get from live is not hopeful.
Demo account is essential to learn trading. However, demo trader lacks emotion in trading. In this matter real account needed to learn and control emotion.
A demo account is the best way to learn forex perfectly. After learning properly you can move to the live account to make money from this market.
Both are very different when it comes to funds, but apart from that, think of demo as a practice where you are learning.
Quoting CoraLombard
A demo account is the best way to learn forex perfectly. After learning properly you can move to the live account to make money from this market.
demo is the best way , all we agree with that , but when trading in a demo account , our motivation not works for a long time , because there is no real money.
Emotions don't usually work in demo trading. The demo is good to practice but it is better if you do live trading. Emotions work well when trading live. It is much better if you open a cent account and trade. Money management and risk management can be learned well from live trading.
i dont think there is no one who can stop emotions completely , by means of great trading discipline this can be controlled , need a also a regular practice.
Demo is the exact replica of live account. Only the difference is you can trade with virtual funds in demo account.
It depends on how did you use demo. To me demo is for testing your strategy. Finding what is your winning percentage and risk reward ratio. Even if you test your strategy in demo, in live you will face emotional barriers. So it's different but important.
Quoting HisaoFujioka
It depends on how did you use demo. To me demo is for testing your strategy. Finding what is your winning percentage and risk reward ratio. Even if you test your strategy in demo, in live you will face emotional barriers. So it's different but important.
Yes demo is for practice. In demo we can test our strategy. To make our own customized strategy demo is important. We can't lose money on live account by trying to personalize our strategy.
Hi, can you change the amount of start up money in your demo account? mines defaulted to 10,000. I would prefer it to be say 1,000. more like what i would start a real account with.

Thanks
Quoting loveandpeace
Hello All, if I am very good in Demo, can I be good in Live trading? comment plz, anyone.
No.

Back testing is used to demonstrate the viability of the trading system/style/methodology. Forward testing on DEMO is training you how to trade that particular style and to prove it works the same way you tested. Finally you must go live. Go live the smallest amount allowed. Usually 0.10¢ or your deposit currency equivalent. The psychological difference between trading live and demo is where the 95% fail.

- Ric
Be humble or get humbled
First of all, you need to master the demo trading perfectly. Even if you think you're good at demo trading, you should still trade on it and preferably with a little capital, so it's easier to switch to a real account later. You need to understand that the main difference between a demo account and a real one is psychology. This is a different feeling; when you trade with your money, you realize that you can lose real money because of one error. I highly recommend you train your psychology. You can do this by opening a real account for a small amount, for example, $50. Little by little trading real money, you will get used to the tension in trading and thus become more stable. Then, you can increase your investment over time and trade more seriously. The main thing is to get the right skills and experience, and then you can earn good money.
Every trader should practice on the demo account before enter into the live account.
are your trading time short ? are you scalping? because it can be really different from demo
Make it profit consistently for about 3 months at first. The more you do, the better. But, please do demo account, everything exactly like real one. The amount of deposit you want to, leverage, indicators, analysis, everything! Do it seriously. If you do, and could make consistent profit, then you can consider to go real. Because in live, your emotion and psychology will gets involved deeper, since it use real money. Try to trade without any emotion at all (it's the hardest part!). If emotion gets involved, it will be huge difference result in your consistency. Nobody is perfect, keep learning and you'll know somehow...wish u success!
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In my opinion, it is better to learn trading with a small Real money account. I've done that & it works great. If u have practiced with demo account, & then on a real account if u've lost , there is a high chance of your emotions starting kicking in to make up the loss quickly, because this time ,u've lost real money& not demo cash, but this may vary from person to person, but if u've practiced with real money, u'll be much more calmer & less likely to be emotional, as u've dealt with this situation in the past while practicing on real money account
Trading fails when u try to defeat the market
Quoting BondBull
Make it profit consistently for about 3 months at first. The more you do, the better. But, please do demo account, everything exactly like real one. The amount of deposit you want to, leverage, indicators, analysis, everything! Do it seriously. If you do, and could make consistent profit, then you can consider to go real. Because in live, your emotion and psychology will gets involved deeper, since it use real money. Try to trade without any emotion at all (it's the hardest part!). If emotion gets involved, it will be huge difference result...
I agree with all aspects. Make sure to demo trade and make sure to take demo trading seriously.
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