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Is demo a step before real trading?

  • #681
  • Quote
  • May 14, 2024 12:39pm May 14, 2024 12:39pm
I personally think that demo is unnecessary. better to trade on a cent account with 10 dollars you get real quotes/slippage ecc
demo is to far from reality
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  • #682
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  • May 15, 2024 2:41am May 15, 2024 2:41am
Absolutely, using a demo account is a highly recommended step before transitioning to real trading. Demo accounts provide a risk-free environment where you can familiarise yourself with the trading platform, test your trading strategies, and understand market dynamics without the pressure of losing real money.

This practice helps build confidence and competence, which are crucial for navigating the complexities of real markets more effectively. For beginners, it's an invaluable step that bridges the gap between theoretical knowledge and practical experience, setting a solid foundation for successful trading.

At ThinkMarkets, we encourage new traders to take full advantage of our demo trading options to ensure they are well-prepared before they start trading with real funds.
Visit our Newsroom for all the latest market news and updates.
  • #683
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  • May 16, 2024 4:21am May 16, 2024 4:21am
Yes, a demo account is a step before putting in real money in trading. It’s like a risk-free environment to practice your trading strategy. Check these tips to ace your demo trading:

https://insights.primecodex.com/demo-trading/
  • #684
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  • Aug 21, 2024 6:58am Aug 21, 2024 6:58am
No, I believe a cent account is a better step before real trading. No matter how long you trade on a demo account, you won’t fully experience the emotions and pressures of real trading. A cent account, however, lets you feel the real market with minimal risk and prepares you for the real thing.
  • #685
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  • Sep 7, 2024 11:29am Sep 7, 2024 11:29am
I traded in demo and live accounts. Learn to trade with demo account first before getting into live account. I would suggest trade with prop firm`s trial account.
  • #686
  • Quote
  • Oct 18, 2024 3:41am Oct 18, 2024 3:41am
Quoting jlemon
I traded in demo and live accounts. Learn to trade with demo account first before getting into live account. I would suggest trade with prop firm`s trial account.
What is the difference between demo and prop trial? It's the same account.
  • #687
  • Quote
  • Oct 21, 2024 2:27am Oct 21, 2024 2:27am
Quoting Hoya
I personally think that demo is unnecessary. better to trade on a cent account with 10 dollars you get real quotes/slippage ecc demo is to far from reality
Do you guys agree with this? I do see his point, but I think demo accounts can be useful for testing strategies without risking any cash. Sure, it’s not as real as live trading, but it’s a good way to learn the ropes without losing money, no? Why not save the $10 for when you’re more confident?
  • #688
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  • Oct 21, 2024 1:43pm Oct 21, 2024 1:43pm
I would agree that demo can be really useful provided your broker's data closely mirrors their live accounts.
  • #689
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  • Nov 4, 2024 3:09am Nov 4, 2024 3:09am
Quoting cyborgfx
{quote} Do you guys agree with this? I do see his point, but I think demo accounts can be useful for testing strategies without risking any cash. Sure, it’s not as real as live trading, but it’s a good way to learn the ropes without losing money, no? Why not save the $10 for when you’re more confident?
I get where he's coming from, but I actually think demo accounts have their place. They’re great for learning strategies and getting comfy with the platform without the stress of real money. You can mess around with different approaches and see what works before you dive in.
Once you feel more confident, then yeah, switching to a cent account makes sense.
  • #690
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  • Nov 19, 2024 5:23pm Nov 19, 2024 5:23pm
Quoting Phant0m134
{quote} I get where he's coming from, but I actually think demo accounts have their place. They’re great for learning strategies and getting comfy with the platform without the stress of real money. You can mess around with different approaches and see what works before you dive in. Once you feel more confident, then yeah, switching to a cent account makes sense.
I my view cent accounts doesn't make sense. You risk pennies and you certainly can't achieve feelings of loss that will train your trading mindset
  • #691
  • Quote
  • Nov 22, 2024 7:08am Nov 22, 2024 7:08am
Quoting pizd0s
{quote} I my view cent accounts doesn't make sense. You risk pennies and you certainly can't achieve feelings of loss that will train your trading mindset
I’ve learned that investing a large amount of money and losing it isn't the best way to experience the feeling of loss, especially for a newbie. It can really affect your mindset and crush your confidence to trade again. I believe it's better to start by learning and implementing strategies on a demo account. This way, we can build the skills and confidence without the risk of losing real money. There's also a saying that only invest what you can afford to lose and easily forget about.
  • #692
  • Quote
  • Nov 26, 2024 12:58am Nov 26, 2024 12:58am
In my understanding, trading on demo does not give the feeling that you are "putting your skin on the line" and therefore will not be able to teach useful skills.
  • #693
  • Quote
  • Nov 26, 2024 2:48am Nov 26, 2024 2:48am
Quoting pizd0s
{quote} I my view cent accounts doesn't make sense. You risk pennies and you certainly can't achieve feelings of loss that will train your trading mindset
I guess cent accounts may not be fully replicating the emotional impact of larger trades, but it is useful for those starting out, it is like a low risk in real trading.
  • #694
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  • Dec 3, 2024 3:56am Dec 3, 2024 3:56am
Yes, demo trading is an important step that every trader must consider before starting with real trading. A demo account will help you understand the platform, develop trading strategies, get familiar with the tools they offer without risking real money. It is great to understand how the market works, learning from mistakes, and gaining confidence.

I am still trading on a demo account to avoid making any mistakes when trading with real money. I have learnt to take it seriously, only then will I be able to make profitable returns when risking real money.
  • #695
  • Quote
  • Edited 4:23pm Dec 6, 2024 2:10pm | Edited 4:23pm
Quoting Hoya
I personally think that demo is unnecessary. better to trade on a cent account with 10 dollars you get real quotes/slippage ecc demo is to far from reality
I partially disagree; from my view, I believe the only benefit a live account has over demo is that it actually test your psychology. Even though $10 is a small amount which a majority of people probably have lying around, it's still useless to blow multiple real accounts if you don't even know what you're doing or have a clear plan.

I'd say that it's better to trade on demo, then when you feel ready to trade live, make a cent account and THEN blow it because at least then they wouldn't have jumped in blindly (only partially blind)
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  • #696
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  • Dec 6, 2024 2:12pm Dec 6, 2024 2:12pm
Quoting ChelseaR
I have learnt to take it seriously, only then will I be able to make profitable returns when risking real money.
It's still a long way from the real thing because there's no real consequence behind your mistakes like there is when trading live
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  • #697
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  • Jan 3, 2025 12:26am Jan 3, 2025 12:26am
Small real trades can teach emotions and discipline that demos can’t. Starting small keeps it safe and helps you grow faster!
  • #698
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  • Jan 3, 2025 6:02am Jan 3, 2025 6:02am
Imo, demo trading is must before going live. It helps you practice strategies, understand the platform and get a feel for the market without risking real money. It’s like training wheels before the real ride.
  • #699
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  • Jan 12, 2025 1:30pm Jan 12, 2025 1:30pm
Quoting Warrin34
Imo, demo trading is must before going live. It helps you practice strategies, understand the platform and get a feel for the market without risking real money. It’s like training wheels before the real ride.
Even when I started to trade on live account I continue to use demo account because my target is to test at least 5 fresh trading systems per month to discover new potential trading edges.
  • #700
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  • Jan 21, 2025 9:49am Jan 21, 2025 9:49am
Demo account is always good for learning without investing any real money since we have virtual funds and if we lose them we actually lose nothing but can have the opportunity of learning from our mistakes.
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