Is demo a step before real trading? | Page 19 | Metals Mine

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Is demo a step before real trading?

  • #361
  • Apr 23, 2019 11:05am Apr 23, 2019 11:05am
Starting on demo is very much necessary, but it depends on the person how long they stay on it.
  • #362
  • Apr 23, 2019 1:38pm Apr 23, 2019 1:38pm
Yep, persistance and patience are brother and sister. for me it‘s now two years with approx 12-16 hours a day and it feels like my destination is still far far away...
Open where needed. Close where feeded.
  • #363
  • Apr 25, 2019 1:18pm Apr 25, 2019 1:18pm
Quoting mlawson71
Starting on demo is very much necessary, but it depends on the person how long they stay on it.
Yes, it is but as I see, having a long term plan is very much essential; practicing the demo account with a short-term view is useless.
  • #364
  • Apr 26, 2019 11:12am Apr 26, 2019 11:12am
Quoting Adelhard
{quote} Yes, it is but as I see, having a long term plan is very much essential; practicing the demo account with a short-term view is useless.
I think practicing on a demo has its uses, but doing it in the short-term achieves nothing, really.
  • #365
  • May 3, 2019 12:39am May 3, 2019 12:39am
Quoting mlawson71
Starting on demo is very much necessary, but it depends on the person how long they stay on it.
generally as a newcomer it is difficult to keep staying in demo for a long time , they lost interest after passing sometimes because there is no real money , for that reason, i dont support to stay long in here , according to me, after passing 1 month cent account is more appropriate for live trading experience. its better than time passing in demo.
  • #366
  • May 3, 2019 12:03pm May 3, 2019 12:03pm
Demo has its uses, I don't think it can be avoided altogether. Even if it's just to test new strategies.
  • #367
  • May 4, 2019 5:52am May 4, 2019 5:52am
From my experience as newbie, when I was using demo account, I can make decisions faster, because there is no real money. I doubled the profit pretty fast, and feel confident about my strategies.
But when I moved to live account, everything feels different..I became timid with my decision and afraid losing money.
Demo account surely useful for get used to the trading platform or testing strategies as above mentioned but that’s all.
  • #368
  • May 4, 2019 9:35am May 4, 2019 9:35am
Quoting shirley89
From my experience as newbie, when I was using demo account, I can make decisions faster, because there is no real money. I doubled the profit pretty fast, and feel confident about my strategies. But when I moved to live account, everything feels different..I became timid with my decision and afraid losing money. Demo account surely useful for get used to the trading platform or testing strategies as above mentioned but that’s all.
I agree. One makes decisions not just faster but with a lot more confidence than on a live account.
  • #369
  • May 10, 2019 6:20am May 10, 2019 6:20am
Quoting shirley89
From my experience as newbie, when I was using demo account, I can make decisions faster, because there is no real money. I doubled the profit pretty fast, and feel confident about my strategies. But when I moved to live account, everything feels different..I became timid with my decision and afraid losing money. Demo account surely useful for get used to the trading platform or testing strategies as above mentioned but that’s all.
Agree with you bro, same happened with me, when it comes to real money then emotions becomes heavy on you.
  • #370
  • May 10, 2019 6:38am May 10, 2019 6:38am
not only you , its a common attitude we face when trading in live after demo., logically there is no different between demo and live , but the result between two lots of different , its all about psychology, nothing without it.
  • #371
  • May 11, 2019 10:32am May 11, 2019 10:32am
It's not even all about psychology, there are tangible differences between demo and live accounts more often than not in terms of execution.
  • #372
  • May 12, 2019 9:32am May 12, 2019 9:32am
1) Yes, it is necessary to use demo to get to understand the platform. Get yourself familiar around the feature.
Do not get too long on demo.
2) start real account once are familiar with the platform.
I propose $1000. This first deposit amount is very important. Take note. This amount is the first pain that
Can touch or hurt your psychology mentally. Why? One will probably lose all or margin call. If you are interested in forex, you make second deposit and will probably crush again. Now, here come the important part. You either give up... Or you stop and back trace what gone wrong backward.
3) once. profitable, you then used demo to adjust your
Strategy or equity.
  • #373
  • May 13, 2019 3:26am May 13, 2019 3:26am
Quoting mlawson71
It's not even all about psychology, there are tangible differences between demo and live accounts more often than not in terms of execution.
the different between demo and live is common , sometimes it depends on broker ? do you agree ?
  • #374
  • May 14, 2019 1:06am May 14, 2019 1:06am
Quoting Pro.yingYang
1) Yes, it is necessary to use demo to get to understand the platform. Get yourself familiar around the feature. Do not get too long on demo. 2) start real account once are familiar with the platform. I propose $1000. This first deposit amount is very important. Take note. This amount is the first pain that Can touch or hurt your psychology mentally. Why? One will probably lose all or margin call. If you are interested in forex, you make second deposit and will probably crush again. Now, here come the important part. You either give up... Or you...
correct! risk management is also an important factor to consider when going live.
  • #375
  • May 14, 2019 11:31am May 14, 2019 11:31am
Quoting MarkFxAnde
{quote} the different between demo and live is common , sometimes it depends on broker ? do you agree ?
The tangible differences between the two that don't depend on the trader's psyche always depend on the broker.
  • #376
  • Jul 1, 2019 12:16pm Jul 1, 2019 12:16pm
Demo account must be used.
Firstly, it helps to understand whether the platform is suitable for trading or not. You can immediately see how many currency pairs, what tools, what leverage, whether there is any slippage.
But this is more likely for a more experienced trader.
new traders can use a demo account to learn. You can try different strategies at once in practice, and not just study the theory. Again, find out what tools are there, how to use them.
I do not advise to immediately invest in a real account, because 99.9% you will lost deposit.
I started with a demo account, I immediately opened it on several exchanges in order to look where it is more convenient for me to trade and analyze the market. At the same time I watched teaching videos and read a lot.
So my opinion is yes, the demo account is obligatory to use.
  • #377
  • Jul 1, 2019 2:26pm Jul 1, 2019 2:26pm
DEMO account is not only a step but it is eternal tool
For example, sometimes market conditions are just not favourable but you would still like to trade...
I would recommend DEMO...
Because I do not know any trader that is profitable all the time, year after year, over all the different trading conditions (and interventions).

There are however some limitations to DEMO... there are slight changes, even market might be slightly different sometimes, it is just not
that much of a priority for brokers as it is for REAL...

Good alternative, if you trade manually in particularly.. is to set-up LIVE account with some broker that allows you to play with cents...
I think that might be a good value.. because ANYTHING that you might do there, you can with increased volume/size...
That is the beauty of this market.. If you can make 10%, you can make 10%... meaning.. if you can make 100USD->200USD.. you can make
100m USD->200m USD with the same trades... Which is completely not so in business or poker game for example, because the game changes at high-stakes..
Not so in trading, even more... your pros can increase due to more power at the broker (spread cash-back, lower spread etc). At some level you can also help to move the market even... but that number/level is disputable.)
Can you afford to take that chance?
  • #378
  • Jul 10, 2019 8:43pm Jul 10, 2019 8:43pm
Demo is important if you're very new to Fx, its to learn ropes of MT4 and learning about executions. Once you're familiar, time to get to real account as psychology can only be learnt through real money. You can't gamble on a real account as you do in demo.
There can be no peaks without troughs
  • #379
  • Jul 11, 2019 1:22am Jul 11, 2019 1:22am
I think demo is just to get used to the paltform. Otherwise you should try your best to trade on live accounts, even small ones, to build up your confidence.
  • #380
  • Jul 12, 2019 12:50pm Jul 12, 2019 12:50pm
Quoting comfydesmond
I think demo is just to get used to the paltform. Otherwise you should try your best to trade on live accounts, even small ones, to build up your confidence.
Sometimes a person wants just to test a theory or a strategy without any risk, demo is also useful for that purpose.
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