Is demo a step before real trading? | Page 15 | Metals Mine

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Is demo a step before real trading?

  • #281
  • Aug 28, 2018 10:37am Aug 28, 2018 10:37am
For me, the demo is helping to build up some skills and to test strategies.
While I am not very confident of my potential/strategy I use a small live account to offer the emotional challenge.
I intend to gradually increase it.
  • #282
  • Aug 29, 2018 10:04am Aug 29, 2018 10:04am
Quoting mvsantoss
For me, the demo is helping to build up some skills and to test strategies. While I am not very confident of my potential/strategy I use a small live account to offer the emotional challenge. I intend to gradually increase it.
Same here, I also take help of demo trading service to build a new trading strategy, besides I started my live after practicing the demo for 1 year exactly.
  • #283
  • Aug 30, 2018 2:43am Aug 30, 2018 2:43am
Sure, this is one of the important thing in your life -> Money
Just learn on demo first before you war in the real world.
It can decrease the chances of losing and you can understand more on how to use the apps and etc..
Good luck in your trading!
  • #284
  • Aug 30, 2018 4:45am Aug 30, 2018 4:45am
Quoting mvsantoss
For me, the demo is helping to build up some skills and to test strategies. While I am not very confident of my potential/strategy I use a small live account to offer the emotional challenge. I intend to gradually increase it.
Yeah I think it is better to trade on a demo or a small live account than a big live account when you don't have 100% certainty about your strategy. At least you wouldn't stand to lose a lot in case things don't go your way.
  • #285
  • Sep 1, 2018 8:58am Sep 1, 2018 8:58am
Quoting kryptoniteFX
{quote} Yeah I think it is better to trade on a demo or a small live account than a big live account when you don't have 100% certainty about your strategy. At least you wouldn't stand to lose a lot in case things don't go your way.
Even if you're certain in your strategy if you're also a newbie it's better to avoid investing large sums of money. Get used to trading, then take risks.
  • #286
  • Sep 2, 2018 3:01am Sep 2, 2018 3:01am
Investing a large amount is not a big deal , the main issue is how much your strategy works in practically , if you have most powerful trading strategy with real money managing plan , then within very little amount there is a chance to get maximal result .
  • #287
  • Sep 4, 2018 2:52am Sep 4, 2018 2:52am
It is interesting idea for cent account firstly, but I heard that the brokers providing cent account types, don't provide good trading conditions. For example, the spreads of the cent account are wider from the spreads from standard account provided from the same broker. They just put more markup on the cent account types. How you think, is there any broker which is providing cent account but with tight spreads ?
  • #288
  • Sep 4, 2018 3:14am Sep 4, 2018 3:14am
I have never found at any broker which always ensures good trading facilities with cent account, it’s difficult to found practically when choosing a broker.
  • #289
  • Sep 12, 2018 12:20am Sep 12, 2018 12:20am
Yes demo trading is what almost every newbie trader does before starting to trade live. It builds up your knowledge and skills for trading with real money and is an excellent tool for preparing and practicing trading strategies.
  • #290
  • Sep 12, 2018 1:14am Sep 12, 2018 1:14am
Quoting MapleLeaf
{quote} And if you are that good coding EA's, indicators and alerts, why dont you use the EA's to trade LIVE on your own account and make unlimited amounts of money, instead? Yes, I'm sure you will have an answer for that from the PDF manual of answers.
Just because a mechanic can fix a car does not mean he can become a world racing champion.
  • #291
  • Sep 12, 2018 5:14am Sep 12, 2018 5:14am
Quoting 110.110.110
If you are not consistently profitable in demo you will never be profitable live. Consistenly means many months or even years not many days.
Exactly, day & week is not countable here. New traders need to judge their trading strategy lately!
  • #292
  • Sep 13, 2018 4:42am Sep 13, 2018 4:42am
Yes, I think it's too costly not to open demo first. Without proper knowledge in any platform you're about to trade, it's more risky when opened live account directly. Less risky when you opened live after you've practiced in demo with virtual money and prepared the strategy.
  • #293
  • Sep 13, 2018 9:04am Sep 13, 2018 9:04am
Quoting Fide
Yes, I think it's too costly not to open demo first. Without proper knowledge in any platform you're about to trade, it's more risky when opened live account directly. Less risky when you opened live after you've practiced in demo with virtual money and prepared the strategy.
Opening a demo account costs nothing in terms of money, though trading on it requires time, obviously. If a broker asks you for a fee for a demo account they're likely scammers.
  • #294
  • Sep 14, 2018 12:05am Sep 14, 2018 12:05am
Quoting mlawson71
{quote} Opening a demo account costs nothing in terms of money, though trading on it requires time, obviously. If a broker asks you for a fee for a demo account they're likely scammers.
I agree with you completely, there is nothing to doubt. what I mean is that if someone enters live ac directly without practice in demo it would cost him his first deposit away so it's costly when he didn't open demo first.
  • #295
  • Sep 14, 2018 10:11am Sep 14, 2018 10:11am
Quoting Fide
{quote} I agree with you completely, there is nothing to doubt. what I mean is that if someone enters live ac directly without practice in demo it would cost him his first deposit away so it's costly when he didn't open demo first.
I agree about that.
However, newbies often lose at least one account, demo or no demo trading. Not that one should skip the demo trading, that would lead to losing the account even quicker.
  • #296
  • Sep 17, 2018 11:49pm Sep 17, 2018 11:49pm
Demo is extremely useful for back-testing or preparing for solid strategy. It would be worthless if you're only focusing on how much you gain.
  • #297
  • Sep 18, 2018 3:38am Sep 18, 2018 3:38am
Right Shane. Moreover, practice some habits or skills during demo is highly essential.
  • #298
  • Sep 18, 2018 3:46am Sep 18, 2018 3:46am
yes from demo we can see how our strategies works in practically.
  • #299
  • Sep 18, 2018 9:41am Sep 18, 2018 9:41am
Quoting Shane4
Demo is extremely useful for back-testing or preparing for solid strategy. It would be worthless if you're only focusing on how much you gain.
I think focusing on your results on demo is not a bad thing, if you're following the same strategy as you would on a live account.
  • #300
  • Sep 18, 2018 2:49pm Sep 18, 2018 2:49pm
but i think result from demo is a big fact , it can be part of confidence that can help when trading in a live.
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