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Is demo a step before real trading?

  • #261
  • Aug 9, 2018 4:33am Aug 9, 2018 4:33am
Quoting mlawson71
{quote} It should be this way, but a lot of traders use unrealistically large accounts and lots in demo trading, which leads to unrealistic expectations.
I would say most of the traders do that and when they go live their expectations become shatter for obvious reason.
  • #262
  • Aug 10, 2018 12:34am Aug 10, 2018 12:34am
Great start. If you're emotionally or logically strong, then I would suggest you to do demo trading for very short time only. But don't forget while doing demo trading, that you have to read some articles about Forex, or read expert answers in Forums, or even books as well. Learn fundamental analysis in the first place.
And when you open live, make small account, and then after sometimes, that will teach you if you need to increase your capital in the next trading account. Have a best journey.
  • #263
  • Aug 10, 2018 8:20am Aug 10, 2018 8:20am
Nice thread. Like I shared in other thread, that using demo could harm the mentality or habit of the trader if he/she take it lightly. Use demo not for checking if you're profitable or not, but for acquiring the knowledge of using the platform, or applying your beginner strategy.
In case if you are beginner, start with small/micro account which will help you to learn better than demo account.
  • #264
  • Aug 10, 2018 8:27am Aug 10, 2018 8:27am
On the other hand, if they're using demo lightly their mentality is already flawed.
  • #265
  • Aug 11, 2018 2:18am Aug 11, 2018 2:18am
Demo trading is important for beginner and seasoned trader alike. Beginners use demo accounts to hone their skills. Seasoned traders can use demo accounts to test new strategies and modifications to existing strategies.
  • #266
  • Aug 11, 2018 7:57am Aug 11, 2018 7:57am
Quoting GazFx
Demo trading is important for beginner and seasoned trader alike. Beginners use demo accounts to hone their skills. Seasoned traders can use demo accounts to test new strategies and modifications to existing strategies.
I couldn't have put it better - demo trading is a tool that can be useful as any trader, as long as they know what to do with it.
  • #267
  • Aug 13, 2018 6:07am Aug 13, 2018 6:07am
Quoting mlawson71
{quote} It should be this way, but a lot of traders use unrealistically large accounts and lots in demo trading, which leads to unrealistic expectations.
Thus defeating the entire purpose of demo trading. It's a waste if people don't trade on demo accounts as they would on live accounts. It is important for new traders to understand that if used scrupulously demo account can work in their favor. It is not a toy to be played with for fun.
  • #268
  • Aug 13, 2018 7:18am Aug 13, 2018 7:18am
"Is demo a step before real trading?"

Of course not.
First go real ... and lose the whole money only then start with the demo.
POW!
  • #269
  • Aug 13, 2018 7:24am Aug 13, 2018 7:24am
Quoting Drew-pips1
{quote} Thus defeating the entire purpose of demo trading. It's a waste if people don't trade on demo accounts as they would on live accounts. It is important for new traders to understand that if used scrupulously demo account can work in their favor. It is not a toy to be played with for fun.
Well, one can do that, I guess, (playing with the demo for fun, that is), but that is not something that should be done on a regular basis.
  • #270
  • Aug 13, 2018 7:50am Aug 13, 2018 7:50am
It's very useful indeed. It's like, giving tests before giving final exam (live). If you take demo lightly, won't look good on your grade in final.
  • #271
  • Aug 13, 2018 9:48am Aug 13, 2018 9:48am
Continuously, consistently and successfully demo testing + Good results on the backtest (no blows registered ; low drawdown ; steady grow) = Promising reason for trying the strategy on live
  • #272
  • Aug 14, 2018 8:33am Aug 14, 2018 8:33am
Quoting DwainUK
Continuously, consistently and successfully demo testing + Good results on the backtest (no blows registered ; low drawdown ; steady grow) = Promising reason for trying the strategy on live
I couldn't agree more. Use the tools available to you, but use them appropriately.
  • #273
  • Aug 14, 2018 1:41pm Aug 14, 2018 1:41pm
i don't think demo accounts is really helpful, honestly there is a lot big different when you trade real account and demo one , you see reality in real one , probably it's good to start with cent account , i think demo account just good if you still beginner and you still in first steps in that world
  • #274
  • Aug 15, 2018 6:27am Aug 15, 2018 6:27am
If your system / style / EA is not profitable on demo, it won't be live.


The ones who studied statistics:

n = 2000

Stay safe,
FF
www.sme-fx.com
  • #275
  • Aug 17, 2018 1:58am Aug 17, 2018 1:58am
The main issue with Demo accounts stands with the person trading, some (not all but in my opinion the most) of the people are not trading the same way on the demo account as they trade on a real account. it's a good way to test a new strategy while you already know the basics but not sure how good it is for the long term, just to hold a demo account.

Of course, it's a good step to begin with, but the next step is to take some real money, let's say 1000 EUR, and try to invest it carefully by following some steps or you technique believe in.
  • #276
  • Aug 24, 2018 9:53am Aug 24, 2018 9:53am
Quoting SjefLeaven
The main issue with Demo accounts stands with the person trading, some (not all but in my opinion the most) of the people are not trading the same way on the demo account as they trade on a real account. it's a good way to test a new strategy while you already know the basics but not sure how good it is for the long term, just to hold a demo account. Of course, it's a good step to begin with, but the next step is to take some real money, let's say 1000 EUR, and try to invest it carefully by following some steps or you technique believe in.
While that is true, it's also just one of the issues. There are tangible differences between live and demo accounts, depending on the broker. Execution speeds, requoting, server connection, etc. all these can differ between the two types of accounts.
  • #277
  • Aug 25, 2018 4:39am Aug 25, 2018 4:39am
What you think, by using only demo account there is any chance to predict broker performance ?
  • #278
  • Aug 25, 2018 11:17am Aug 25, 2018 11:17am
I suggest trading on a cent account after 3-6 months on demo.
Risk Management is of utmost importance!
  • #279
  • Aug 26, 2018 8:55am Aug 26, 2018 8:55am
Quoting RCtrader
I suggest trading on a cent account after 3-6 months on demo.
That is the best possible option in my opinion. One should trade on a demo for a while and then the initial real life account shouldn't be large until they get used to trading with real money.
  • #280
  • Aug 26, 2018 10:36am Aug 26, 2018 10:36am
Quoting RCtrader
I suggest trading on a cent account after 3-6 months on demo.
Good idea; really demo & live is not the same area, same environment! So, in this case cent account very much alternative option.
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