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Is demo a step before real trading?

  • #461
  • Oct 25, 2019 4:19am Oct 25, 2019 4:19am
what you think Mate emotion level work when trading in a demo account ?
  • #462
  • Oct 25, 2019 12:08pm Oct 25, 2019 12:08pm
In my opinion, usually one is not as stressed when using a demo account. That is both a good and a bad thing, because while you learn the basics in a low-stress environment you also don't learn how to deal with the anxiety that comes from using a live account.
  • #463
  • Oct 26, 2019 6:17am Oct 26, 2019 6:17am
Quoting mlawson71
In my opinion, usually one is not as stressed when using a demo account. That is both a good and a bad thing, because while you learn the basics in a low-stress environment you also don't learn how to deal with the anxiety that comes from using a live account.
Well said; by the way, how do you control your own emotions during live trading?
  • #464
  • Oct 26, 2019 11:49am Oct 26, 2019 11:49am
Quoting GeorgeBaile
{quote} Well said; by the way, how do you control your own emotions during live trading?
With great effort.
  • #465
  • Oct 27, 2019 9:02am Oct 27, 2019 9:02am
Quoting mlawson71
{quote} With great effort.
I know; I guess your log term trading experience helps you a lot!
  • #466
  • Oct 27, 2019 12:48pm Oct 27, 2019 12:48pm
Quoting GeorgeBaile
{quote} I know; I guess your log term trading experience helps you a lot!
Sometimes it does. Other times I lose my patience anyway.
  • #467
  • Oct 27, 2019 1:28pm Oct 27, 2019 1:28pm
Quoting GeorgeBaile
{quote} Well said; by the way, how do you control your own emotions during live trading?
Better not want control emotion. No need for it. Learn that is part of life.
Not every order type is for every trader suitable. A market order with sitting infront of chart for a nervous trader can be a terrible combination of options. In the end this trader have not set SL and watch how the account is going to the end live.
Perfection is the enemy of good enough!
  • #468
  • Oct 28, 2019 8:18am Oct 28, 2019 8:18am
Quoting MichaelSch
{quote} Better not want control emotion. No need for it. Learn that is part of life. Not every order type is for every trader suitable. A market order with sitting infront of chart for a nervous trader can be a terrible combination of options. In the end this trader have not set SL and watch how the account is going to the end live.
It makes sense! I think, that’s the proper way of treating! Adding extra pressure on controlling emotions would be more hazardous!
  • #469
  • Nov 7, 2019 3:26pm Nov 7, 2019 3:26pm
This is the only right step before real trading. My advice is that you open demo account with same starting deposit, that you are prepared to invest in real account that makes things more realistic.
  • #470
  • Nov 9, 2019 12:36pm Nov 9, 2019 12:36pm
Quoting dean55555
This is the only right step before real trading. My advice is that you open demo account with same starting deposit, that you are prepared to invest in real account that makes things more realistic.
I agree. Trade on a demo account like you would on a live account and you will learn faster.
  • #471
  • Nov 12, 2019 1:47am Nov 12, 2019 1:47am
Quoting mlawson71
{quote} It depends. If one is losing small sums regularly the end result is a large loss anyway.
I strongly agree with your point and it happens actually, but still for the starting micro account is a good option.
  • #472
  • Nov 14, 2019 6:27am Nov 14, 2019 6:27am
Quoting HiddenGap
Obviously, there are two sides to this issue. I am going to take one side of the "no demo" argument. One of the few advantages to spot forex is the fact that one can open an account with some brokers with a little as $25.00. Now let's assume you are like a lot of people and spend $5.00 a week day on a Latte from Starbucks. 5 x 5 = 25. So that’s $25.00 a week. There are roughly 4 weeks in a month. This gives us 4 x $25.00 = $100.00 So if you forgo a months worth of visits to the coffee shop, you can trade live with an amount of money that wont hurt...
You should get a medal for this insight. $300.00 lost on demo account and opened position with -$3.00 on real account is a huge difference.

I have never been a fan of trading on demo (except for learning how to operate your brokers trading terminal), because of this. Real money is real money and the option of losing even small amount can show you how it affects your trading.
  • #473
  • Nov 15, 2019 4:15pm Nov 15, 2019 4:15pm
Quoting Johny-af
{quote} You should get a medal for this insight. $300.00 lost on demo account and opened position with -$3.00 on real account is a huge difference. I have never been a fan of trading on demo (except for learning how to operate your brokers trading terminal), because of this. Real money is real money and the option of losing even small amount can show you how it affects your trading.

couldnt agree more
  • #474
  • Nov 16, 2019 11:33am Nov 16, 2019 11:33am
Most people answered correctly, I will simply expand their answer to give a little more clarity. Look, a demo account is very important for a novice trader. I once made a mistake and started trading for real money right away, which resulted in a loss. So, without a demo, you will never become a successful trader. The demo needs to show how the market works, to teach decision making and basic control of emotional impulses.

But the demo works the first 10-15 days. Then, if you stayed on a demo, then this is harm. Demo ISN'T equal to real trading, and even having made 10,000 of $ 100 on a demo, you can not do anything on a real account.

This is important, but as soon as you feel that you understand how the market works, you need to switch to real trading.
  • #475
  • Nov 17, 2019 8:32am Nov 17, 2019 8:32am
Quoting GeorgeBaile
{quote} Well said; by the way, how do you control your own emotions during live trading?
The best control over the situation of your account is the alignment of stop loss.
  • #476
  • Nov 17, 2019 12:50pm Nov 17, 2019 12:50pm
Quoting ForexDzen
{quote} The best control over the situation of your account is the alignment of stop loss.
True, it's a very useful tool that a lot of people seem to underestimate.
  • #477
  • Nov 17, 2019 4:13pm Nov 17, 2019 4:13pm
Quoting mlawson71
{quote} True, it's a very useful tool that a lot of people seem to underestimate.

a stop loss is not always necessary, if you know how to trade without one
  • #478
  • Nov 17, 2019 4:26pm Nov 17, 2019 4:26pm
Quoting allinazi
{quote} a stop loss is not always necessary, if you know how to trade without one
I beg to disagree , you never know what's gonna be Trump's next tweet about . It can shake price massively.
  • #479
  • Nov 17, 2019 5:27pm Nov 17, 2019 5:27pm
Quoting cryptoquant
{quote} I beg to disagree , you never know what's gonna be Trump's next tweet about . It can shake price massively.

i dont use stops in my trading my accounts are doing ok ,,, but i trade small so i can withstands trumps tweets
  • #480
  • Nov 18, 2019 1:03am Nov 18, 2019 1:03am
Quoting allinazi
{quote} a stop loss is not always necessary, if you know how to trade without one
No one knows how to trade without stop loss, since no one knows 100% where the market will go. Your right to trade without a stop, but as practice shows, everyone who does not set a stop loss sooner or later regrets it.
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