Is demo a step before real trading? | Page 21 | Metals Mine

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Is demo a step before real trading?

  • #401
  • Jul 29, 2019 9:58pm Jul 29, 2019 9:58pm
Quoting Adelhard
{quote} Yes I am talking about back testing; as you see even mt4 trading platform provides the back testing service!
Yes I see! But according to my own trading experience; Mt4 provides limited back-testing service! Where you can’t work on multiple time frames at a time!
  • #402
  • Jul 30, 2019 6:32am Jul 30, 2019 6:32am
Quoting bulltrap
{quote} Yes good point, although forward testing is much better to rely on.
No doubt on it; but you know; by back testing you can tested more trading points within very short period of time!
  • #403
  • Jul 31, 2019 9:16am Jul 31, 2019 9:16am
Use demo for the following:

- Forward testing a system : This allows you to know the system in action rather than just simply backtesting it.

- Getting use to trading : The process of opening a trade and managing it needs some practice.

Personally, only open live account if you are familiar with the list above. BUT you need to have decent capital to prevent overleveraging.
Work work.
  • #404
  • Jul 31, 2019 9:55am Jul 31, 2019 9:55am
Quoting Peon
Use demo for the following: - Forward testing a system : This allows you to know the system in action rather than just simply backtesting it. - Getting use to trading : The process of opening a trade and managing it needs some practice. Personally, only open live account if you are familiar with the list above. BUT you need to have decent capital to prevent overleveraging.
Right! traders need to use the demo until they have a consistent trading result! Since; learning is a long term process here; this is why expecting something quickly is meaningless!
  • #405
  • Aug 1, 2019 9:57am Aug 1, 2019 9:57am
Perhaps with a Demo acct, you will make the foundational mistakes needed to be made. And you will learn to use your tools effectively.
  • #406
  • Edited 12:14pm Aug 1, 2019 11:56am | Edited 12:14pm
Quoting Adelhard
{quote} No doubt on it; but you know; by back testing you can tested more trading points within very short period of time!
Quoting Peon
Use demo for the following: - Forward testing a system : This allows you to know the system in action rather than just simply backtesting it. - Getting use to trading : The process of opening a trade and managing it needs some practice. Personally, only open live account if you are familiar with the list above. BUT you need to have decent capital to prevent overleveraging.
The combination of info from you guys is perfect, well done
careful not to step in a pile of it
  • #407
  • Aug 14, 2019 6:45am Aug 14, 2019 6:45am
demo is the master place for becoming a knowledgeable trader very rapidly , but we the traders particularly the newcomers dont believe the importance of this trading place at all, they trade here at random and become loser . ultimately they blame this trading place.
  • #408
  • Aug 14, 2019 12:51pm Aug 14, 2019 12:51pm
Demo is certainly a good place to learn the basics, but some things can only be learned on a live account.
  • #409
  • Aug 17, 2019 9:03am Aug 17, 2019 9:03am
Quoting bulltrap
{quote} {quote} The combination of info from you guys is perfect, well done
Thanks buddy! After demo; I used back testing service for a couple of months and I found: it’s useful!
  • #410
  • Aug 17, 2019 12:22pm Aug 17, 2019 12:22pm
Backtesting is a very useful feature but newbies rarely learn to use it, unfortunately.
  • #411
  • Aug 17, 2019 9:43pm Aug 17, 2019 9:43pm
Simple answer is of course yes. In any field this is true. In medicine before you do operations to living humans they will practice from dead bodies in college. We know that is a two different situation and two mind sets. You can do mistakes for a dead body but you can't do mistakes for a living one. To get that position practice is must. that is why while they learning they practice. So this is same for a trader too. Before real you need to know demo. You can do mistakes in demo but not in real. But most important is you need to learn and practice. So in one hand you need theories (education) other hand you need practice ( experience). while doing both of this you will gain good knowledge, experience and a good mind set to trade. But trading demo will not the whole process. You will definitely do mistakes in real. Success of trading is a series of knowledge and experiences of failures.
People don't care about what you say, they care about what you build
  • #412
  • Aug 19, 2019 8:56pm Aug 19, 2019 8:56pm
Yes, Demo is important tool for learning forex trading without any real investment. One should always start with demo learning to gain more real knowledge of the market.
  • #413
  • Aug 20, 2019 12:57am Aug 20, 2019 12:57am
One important thing I found is to treat a demo like it's live. Do not open an account with $100k and start to shoot from the hip. Open a demo account the size you plan to open live later on and start practicing the strategy that suits you best (funds & time available, risk, MM, ...). Practice doesn't just makes perfect, it makes PERMANENT. The habits you train yourself in a demo will carry over to live, so keep an eye on this.
In parallel, do tons of reading, here at FF, valuable books, to get knowledge about market behaviour, fundamentals aso. Allow yourself to make mistakes, learn from it and take your time. No need to rush and aim for 100% profits in the first month.

I'm still new to FX and these are some very valuable lessons I've learned so far.

Cheers, Luke
You miss 100% of the shots you don't take. W. Gretzky
  • #414
  • Aug 20, 2019 4:02am Aug 20, 2019 4:02am
I think there both pro's and con's to demo trading. I would definitely give demo trading a try first, to get to grips with things and understand the basics of trading. You can practice different styles of trading, get to know the average movements of different pairs, start to recognise patterns etc. However there are some key limitations to demo trading: Risk management is very different when real money is not on the line. Your emotions can be very different! Execution of trades can also be very different, as there are often no spreads, and liquidity issues in demo trading, but these can have a big impact on real trading. In summary, start off with demo trading until you feel 'comfortable', but don't expect to replicate performance instantly when you go live!
  • #415
  • Aug 23, 2019 10:10am Aug 23, 2019 10:10am
Quoting JimmyAlgo
I think there both pro's and con's to demo trading. I would definitely give demo trading a try first, to get to grips with things and understand the basics of trading. You can practice different styles of trading, get to know the average movements of different pairs, start to recognise patterns etc. However there are some key limitations to demo trading: Risk management is very different when real money is not on the line. Your emotions can be very different! Execution of trades can also be very different, as there are often no spreads, and liquidity...
No way to ignore your point but I think; in this case (after demo), cent type account can be a effective choice; before the real trading!
  • #416
  • Aug 28, 2019 4:19am Aug 28, 2019 4:19am
demo is really good for any kinds of traders especially for newcomers. i use all my trading strategies in demo to see the performance how it works, this approach always help me to avoid risk when trading in practically.
  • #417
  • Aug 28, 2019 10:23am Aug 28, 2019 10:23am
Quoting HajiMohsin
demo is really good for any kinds of traders especially for newcomers. i use all my trading strategies in demo to see the performance how it works, this approach always help me to avoid risk when trading in practically.
Yes; that’s the porpoise of using demo account! As I see; nowadays newbie’s have a tend to use cent type account initially!
  • #418
  • Aug 28, 2019 2:34pm Aug 28, 2019 2:34pm
85x Profit in 10 Days.

The guy in the screenshot won the first place in a demo contest of a broker. Starting with 10k USD he made about 850k USD in 10 days. That's a demo contest.

My question is, if I had a way to follow his trades and use that in my 10k USD Real account, would I be making 850k USD just like him? Am I missing something?
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  • #419
  • Aug 28, 2019 3:27pm Aug 28, 2019 3:27pm
Quoting Flight-87
85x Profit in 10 Days. The guy in the screenshot won the first place in a demo contest of a broker. Starting with 10k USD he made about 850k USD in 10 days. That's a demo contest. My question is, if I had a way to follow his trades and use that in my 10k USD Real account, would I be making 850k USD just like him? Am I missing something? {image}
Helllno bruh!

Demo trading is step before trading fo sho! For all the nay-sayers saying just "JUMP IN".... Try playing a complex game without knowing the rules of the game. Last time a "amateur" not rookie, got into a contest with a "professional" welp...
  • #420
  • Aug 30, 2019 1:04am Aug 30, 2019 1:04am
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.
It happens, because we don’t have our real funds invested in a demo account. So, our decisions are less biased and more accurate. That is why I always recommend newbies to practice on a demo account side by side , once they get familiar with the trading platform. This way one can easily compare what goes wrong on a real account and what measures he should take to correct those wrongs. Testing your strategies on a demo account before actually using them on a real account , really helps.
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