Is demo a step before real trading? | Page 25 | Metals Mine

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Is demo a step before real trading?

  • #481
  • Nov 18, 2019 1:44am Nov 18, 2019 1:44am
Quoting ForexDzen
{quote} 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.

i guess i have to disagree but it is what it is everyone has their own style . Some people can make it work without a stop some cant. And theres nothing wrong with that, i was merely trying to make a point just because a book or some youtube channel says to use a stop doesnt mean one has to
  • #482
  • Nov 19, 2019 1:53pm Nov 19, 2019 1:53pm
Quoting allinazi
{quote} a stop loss is not always necessary, if you know how to trade without one
Perhaps. But most traders don't and probably should not take that risk, I think.
  • #483
  • Nov 19, 2019 2:36pm Nov 19, 2019 2:36pm
Quoting mlawson71
{quote} Perhaps. But most traders don't and probably should not take that risk, I think.

yep true, i am just merely putting it out there that its not a necessity. But agree totally need to really know where you at in terms at risk etc at any point in time
  • #484
  • Nov 20, 2019 12:42pm Nov 20, 2019 12:42pm
Quoting allinazi
{quote} yep true, i am just merely putting it out there that its not a necessity. But agree totally need to really know where you at in terms at risk etc at any point in time
Exactly. And for traders who are not very experience - which seem to be the majority of forex traders - using stop loss properly is one way of managing their risk.
  • #485
  • Nov 30, 2019 2:28am Nov 30, 2019 2:28am
Quoting mlawson71
{quote} Exactly. And for traders who are not very experience - which seem to be the majority of forex traders - using stop loss properly is one way of managing their risk.
I don’t understand; how traders can use the same ratios on SL in the different situations of trading; it’s a bad plan.
  • #486
  • Dec 1, 2019 3:31am Dec 1, 2019 3:31am
I don't know. Usually the idea is to look for a specific trading situation/chart configuration and then to use your strategy.
  • #487
  • Dec 2, 2019 7:01am Dec 2, 2019 7:01am
Quoting Adelhard
{quote} I don’t understand; how traders can use the same ratios on SL in the different situations of trading; it’s a bad plan.
Of course it's a bad plan, but when you think about how many people trade forex and how meny people actually wants to learn about trading forex, it's no surprise. Usually (from my experience) they saw some super risk reward ratio strategy somewhere on the internet. Or met a great guru, who showed them only one way how to manage the trades.
  • #488
  • Dec 2, 2019 8:03am Dec 2, 2019 8:03am
Pretty much yeah. you are not going to a shop and just buy a piece of clothes without trying it on, right?
Same here.
Before I started to trade (I prefer trading EA, didn't like to trade manually, too much stress) I spent like 6 months trying out different systems on demo. And after i got my confidence i started to trade live
  • #489
  • Dec 4, 2019 8:11am Dec 4, 2019 8:11am
Haha, I am the opposite, I stress out even more when I use an EA.
  • #490
  • Dec 5, 2019 6:18am Dec 5, 2019 6:18am
Quoting mlawson71
Haha, I am the opposite, I stress out even more when I use an EA.
Really? That's kinda interesting. What is the reason - why do you stress more?
  • #491
  • Dec 6, 2019 6:25am Dec 6, 2019 6:25am
Quoting EugeneJameso
{quote} Really? That's kinda interesting. What is the reason - why do you stress more?
Because when I trade manually I am in control. Both mistakes and successes are my own. With an EA I can just watch and rely on whoever made the EA.
  • #492
  • Dec 6, 2019 6:54am Dec 6, 2019 6:54am
Quoting mlawson71
{quote} Because when I trade manually I am in control. Both mistakes and successes are my own. With an EA I can just watch and rely on whoever made the EA.
That makes sense. But for me it's easier to blame someone else than myself But I see your point.
  • #493
  • Dec 7, 2019 5:33am Dec 7, 2019 5:33am
I don't want to blame anyone, I just want to be in control. To each their own, I guess.
  • #494
  • Dec 8, 2019 3:07am Dec 8, 2019 3:07am
demo is very important for any kinds of traders above all
newcomers, but the main issue , the knowledge we take from demo practically not works when trading in live.
  • #495
  • Dec 8, 2019 7:28am Dec 8, 2019 7:28am
yes , its so true , and the main issue is psychology .
in demo there is no pressure and we can trade with free mentality
but when trading in real account cant control emotions.

so we see lot of difference when the result come.
  • #496
  • Dec 8, 2019 7:42am Dec 8, 2019 7:42am
Quoting HajiMohsin
yes , its so true , and the main issue is psychology . in demo there is no pressure and we can trade with free mentality but when trading in real account cant control emotions. so we see lot of difference when the result come.
That lack of pressure is a double-edged sword, unfortunately. On one hand we can, indeed, learn without the pressure of the fear of losing money, but when we do begin trading on a live account we are not prepared for that.
  • #497
  • Dec 8, 2019 8:18am Dec 8, 2019 8:18am
Aside from psychology stuff which I think is the main reason for the difference, there are some differences between demo and live accounts related to brokers especially if you are a scalper or use EAs.

The obvious difference is that you don't see things like slippage or widening spreads or requotes. The reason is almost all brokers give you a neat price without those problems because your orders are not real in demo accounts so they don't need to look for the price to match with yours and fill your orders. you get what you want and you won't be aware of this issue that might completely change your win rate or even your mental or emotional trading status.
  • #498
  • Dec 17, 2019 12:15am Dec 17, 2019 12:15am
thanks for your nice post. its a good summary
with good information.
  • #499
  • Jan 14, 2020 10:37am Jan 14, 2020 10:37am
demo is the best place to become a knowledgeable trader very rapidly as a new forex trader. but there is no emotions when trading in practical.
  • #500
  • Jan 15, 2020 8:51am Jan 15, 2020 8:51am
Part of the learning process - and the knowledge you acquire - is learning how to deal with your anxiety and greed when trading. That cannot be done on a demo account.
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