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Is demo a step before real trading?

  • #121
  • Sep 12, 2013 2:16pm Sep 12, 2013 2:16pm
demo trading is so important for a newbie and of course its the first step before real trading.by trading demo you are able to know the technique of forex and your skill up day by day
  • #122
  • Sep 12, 2013 2:23pm Sep 12, 2013 2:23pm
of course Demo tradind is the first step.without proper knowledge no one can success in forex business.for success in this market u should be expert.demo account will help u to be expert .so demo is important.
  • #123
  • Sep 13, 2013 3:33am Sep 13, 2013 3:33am
I am on demo now and I practise my knowledge. I full of anticipation when I will trade on real market, but at that time I am afraid of it...
  • #124
  • Sep 26, 2013 11:43am Sep 26, 2013 11:43am
What is the best timeframe i need to choose for my first time demo trading? Can somebody tell me what to look during demo trading? I mean important thing others than familiarize the system itself?
  • #125
  • Sep 26, 2013 6:49pm Sep 26, 2013 6:49pm
Quoting mushah
What is the best timeframe i need to choose for my first time demo trading? Can somebody tell me what to look during demo trading? I mean important thing others than familiarize the system itself?
This should be an important part of your training. You must find yourself what kind of trader you are. A scalper (smaller timeframes), swing trader, long term etc ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #126
  • Sep 26, 2013 7:00pm Sep 26, 2013 7:00pm
Quoting FerruFx
{quote} This should be an important part of your training. You must find yourself what kind of trader you are. A scalper (smaller timeframes), swing trader, long term etc ...
Thank you Mr FerruFx. I really did not know that I must define myself which kind of trader I'm. Now I need to go back to my Demo trading again to choose one. hahahahahaha.
  • #127
  • Sep 26, 2013 7:53pm Sep 26, 2013 7:53pm
Quoting mushah
{quote} Thank you Mr FerruFx. I really did not know that I must define myself which kind of trader I'm. Now I need to go back to my Demo trading again to choose one. hahahahahaha.
This is essential. It's not because you want to be a scalper that you are made to be a scalper. You should train yourself in all kind of trading styles and find the one which will fit you best.
MT4/MT5 EAs/Indicators/Alerts coder
  • #128
  • Oct 2, 2013 10:29am Oct 2, 2013 10:29am
Quoting Michael C. F
demo trading is so important for a newbie and of course its the first step before real trading.by trading demo you are able to know the technique of forex and your skill up day by day
Definitely for newbies it is necessary that they should better focus on learning first and then begin trading in real account. Demo account is very helpful and traders can increase their trading skills and knowledge so that good and consistent profit can be earned.
  • #129
  • Oct 2, 2013 10:35am Oct 2, 2013 10:35am
Demoing builds confidence in your method and ability to trade it.
Anything can happen.
  • #130
  • Oct 4, 2013 8:46am Oct 4, 2013 8:46am
Agreed, demo trading is an essential step to profitable trading.
  • #131
  • Oct 8, 2013 7:43am Oct 8, 2013 7:43am
Quoting Forexnuts
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..
Trader should join demo account trading before trading in real account. Demo is very helpful for the traders and we can increase our trading knowledge andd experience so that trading in real account become easy and we can earn good profit from it.
  • #132
  • Oct 13, 2013 4:03am Oct 13, 2013 4:03am
In the aspect of gold trading, using a demo account can let you experience the benefits of trading across bullion markets through an Online Trading Platform. Opening a demo account can either be free or with fee, but with GLD1881 basing on my experience, it's free and they are offering 200,000 USD as a virtual balance and can be used for life time.
  • #133
  • Oct 15, 2013 11:28pm Oct 15, 2013 11:28pm
When it comes to precious metals, always did it with a live account but when it comes to using demo or live account for metals, would second the demo for a short while, at least it will allow you a window to work out the strategy..
  • #134
  • Oct 16, 2013 4:56am Oct 16, 2013 4:56am
Quoting alanna
In the aspect of gold trading, using a demo account can let you experience the benefits of trading across bullion markets through an Online Trading Platform. Opening a demo account can either be free or with fee, but with GLD1881 basing on my experience, it's free and they are offering 200,000 USD as a virtual balance and can be used for life time.
Well it is better to open a demo account with the funds equivalent to amount you intend to invest in the future. They you can decide your risk / lot size / leverage and get some real experience.
  • #135
  • Oct 16, 2013 5:49am Oct 16, 2013 5:49am
Quoting brendad
{quote} Well it is better to open a demo account with the funds equivalent to amount you intend to invest in the future. They you can decide your risk / lot size / leverage and get some real experience.
... get some demo experience
MT4/MT5 EAs/Indicators/Alerts coder
  • #136
  • Oct 21, 2013 2:53am Oct 21, 2013 2:53am
Hello,

Actually was intro to Forex many years ago since my kids is in elementary school but I had little time to commit to "learning the rope" at that time, my friend who attended the seminar with me is already trading full time. Now I decided to pick up the "rope" again as my kids are now young teens.
I had recently installed a demo from Oanda since my MIG demo had expired long time ago, my question is should I do backtesting on USD/JPY ( why this pair, cos was told it is less volatile than other pair eg GBP/USD) or should i do some demo trade to test the water.
I would be using the basic just horizontal lines & slanting trendlines, maybe with volumes indication as well.
But I only had an hour to the platform each day as apart from my full time job, I am responsible for all the household chores at home (like all Singaporean working mother) and that hour will varies depending how soon I finished my chores.
Appreciate advice
Enter Signature
  • #137
  • Oct 21, 2013 3:21am Oct 21, 2013 3:21am
Quoting tangerine.hc
... or should i do some demo trade to test the water.
Demo forward would be far wise than backtesting.

Quoting tangerine.hc
But I only had an hour to the platform each day as apart from my full time job
Then you are certainly going to trade higher timeframes (ie. H4, Daily, Weekly) ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #138
  • Oct 21, 2013 4:04am Oct 21, 2013 4:04am
Thks,
But my demo capital is only US$3000 & 2% stoploss will be $60 trading on a 0.10 lot & demo trade in H4 will seems to exceed 2%. Should i look for platform that support lot size to 0.01 or i increase the capital.
Appreciate advice,
Enter Signature
  • #139
  • Oct 21, 2013 8:08am Oct 21, 2013 8:08am
Demo account capital is very large and we can practice there easily so that it will help us in real account to trade more properly with better focus. Demo should be join first it is very helpful for traders.
  • #140
  • Oct 21, 2013 8:18am Oct 21, 2013 8:18am
Quoting tangerine.hc
Thks, But my demo capital is only US$3000 & 2% stoploss will be $60 trading on a 0.10 lot & demo trade in H4 will seems to exceed 2%. Should i look for platform that support lot size to 0.01 or i increase the capital. Appreciate advice,
Demo account balance is easy to increase. You can chose the starting capital. However I would highly suggest to demo with the same capital you would like to trade Live later on.
MT4/MT5 EAs/Indicators/Alerts coder
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