Thnaks God we have a demo! Imagine, that there is no demo account, it will be horrible I think. i trained on demo for 1 year. Demo helped me to understand forex market in whole its rules.
good idea to demo for a short while, until you are confident in your analysis, and understand the tools, etc. The next stage is to fund a small live account and trade using live money under small microlots, this will get you used to trading real money, the nuances of the live platform, and handling your emotions. Demo is good, but don't stay on it for too long.
I remember on my first trade I lost about 50 pips, but on my demo account I made at least 1k for twenty days and I never lost. I to show that demo account is really different from actual trading.
Demo trading is very helpful to all of newbies and good traders as well. Newbies can test their skills in demo account while expert traders can check any indicator or strategy they might want to use.
Yep, I agree with the current drift in thought, of demoing for 6 months or so before going live. Many manual trading systems and automated EAs that looked great in theory or backtesting can show up to be terrible in forward testing, and you will be able to see this in 6 months of demo trading. Bettter to toss an idea (or EA) out the window after failed test than to lose money on it.
You can use the demo to learn about the market, trading on one and how to execute orders, etc. Where as to practice real time trading, you can opt for a micro account and get started on it
Demo is good, but there are some things e.g. dealing with emotions, variable spread, etc. that you would only experience live. You may be using trade robots, but chances are you will still look at the charts and not let it always fly on its own.
Demo is indeed very important for newbies to practice their skills without having the fear of losing real money. A person can easily test or check any trading system of strategy or indicator easily.
Don't be in a hurry to start with a live account. Keep testing and studying with demo account for at least 6 month/one year. Then, when you open a real money account start trading with small leverages. You will find that trading with real money is very different than trading with demo account. Remember that Rome wasn't build in a day!
Demo is indeed a very great step before real account trading. if we are not using demo account in start of our trading career, then we are going to face some serious losses.
Yes, a demo is essential step since it allows you to test your strategy..sure, you can always go ahead and set up a cents account rather than go with the demo..
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It is important that trading should be done in real account after proper practice in demo account and it helps us to develop our trading skills and we will be able to trade in real account properly.
Yeah, no arguments on that - granted there are two schools of thought on whether a trader needs to go live right away or do the demo. The safe bet would be a trial run on the demo especially if you don't have a clue as to what a MT4 is all about - at least, doing the demo can help save you from making some doozy moves, been there, done that, a proud graduate of doozy beginner moves.
Yeah, no arguments on that - granted there are two schools of thought on whether a trader needs to go live right away or do the demo. The safe bet would be a trial run on the demo especially if you don't have a clue as to what a MT4 is all about - at least, doing the demo can help save you from making some doozy moves, been there, done that, a proud graduate of doozy beginner moves.
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Yeah totally agree with you mate. I learned Mt4 platform due to this demo trading.
Ah yes, the good days when we mixed up everything from long to short and just could not figure out how margins - leverages worked..
Once again, if you are brand new to trading, start with the demo to learn how it all works.
Making a profit on the demo does not guarantee the same profits with a real account.
As mentioned before, it's totally different. When trading a demo account it's much easier to leave your trades open without a stop loss. When trading with real money and see your $$$ declining its much harder to not close the trade.
Demo trading is good for learning your trading platform and different indicators, but you really can't compare it with real money trading
