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Is demo a step before real trading?

  • #21
  • Apr 3, 2013 9:40pm Apr 3, 2013 9:40pm
Yes. Demo is ABSOLUTELY essential before real trading.
Make your losses in demo. Earn your profits live.
  • #22
  • Apr 4, 2013 12:34am Apr 4, 2013 12:34am
It is essential to demo trade since you try to learn the basics of forex trading and its movement and trading live in the beginning is a sure way to lose money.
  • #23
  • Apr 4, 2013 10:28am Apr 4, 2013 10:28am
imo a demo account builds your confidence to trade live. I still trade demo along with my live account to see what would happen if I go more aggressive and have change my trading style because of improved results according to the demo account. Entries and targets where I would get in and out if I had a bigger account e.g.
Find your Favourite Pattern
  • #24
  • Apr 4, 2013 1:14pm Apr 4, 2013 1:14pm
Nice..so which higher time trends do you review and are you keeping track of your trades, eg, journal?
  • #25
  • Apr 4, 2013 6:17pm Apr 4, 2013 6:17pm
Free demo and free reliable information are the only way to (1) start trading, and (2) test new or unfamiliar ideas.
  • #26
  • Apr 4, 2013 10:59pm Apr 4, 2013 10:59pm
Quoting Kanzler
With all the respect in the world intended, I think you have that backwards. Most people don't have the slightest clue what they're doing when it comes to the actual strategy they're employing. Blaming it on "mental state" is just deferring blame.
I feel you both are correct, your mental state (patience and discipline) alone would not make you a profitable trader if your method's got a couple of loose ends, and also a profitable methodology wouldn't be enough to keep your boat floating without the patience and discipline required to follow it correctly and make it profitable, just me, my 2 cents.
  • #27
  • Apr 4, 2013 11:07pm Apr 4, 2013 11:07pm
Sure! It's the first step to start to trade, because you should try and practise as more as possible.
  • #28
  • Apr 5, 2013 12:01am Apr 5, 2013 12:01am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Also keep in mind that even on LIVE, the emotional won't be the same between a $25 account and a $25k account ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #29
  • Apr 6, 2013 6:23am Apr 6, 2013 6:23am
I agree with the other pipsters on this thread re: trading a small-lots account. If you can't afford to open up an account with $100-200 and trade small lots I don't think that trading as a hobby (or as a profession) is for you.

Just bite the bullet, ditch the demo account, and trade really really small amounts.

Real pipsters, real pips...
"Just wait'n for a mate..."
  • #30
  • Apr 6, 2013 9:27pm Apr 6, 2013 9:27pm
obviously practicing on demos is better and more wise choice, but i still have seen traders use a demo account for months and make monthly gains and first month of live account lose lots.

I have also seen opposite.
  • #31
  • Apr 9, 2013 12:07pm Apr 9, 2013 12:07pm
"Is demo a step before real trading? "

Of course.
Enter Signature
  • #32
  • Apr 11, 2013 12:13pm Apr 11, 2013 12:13pm
On the transition from demo to live account, yes a few traders do end up making a loss when they go live..usually this could be due to the fact they still have lots to learn and have not yet developed a strategy to trade with..
  • #33
  • Apr 11, 2013 3:21pm Apr 11, 2013 3:21pm
I think that is ok if you want to learn with a demo account but it has to be for a short time. Is better to learn funding your account with $100 and start trading even if you loose your money because demo and real accounts are not the same. You have to see it as a invest in your learning.
  • #34
  • Apr 11, 2013 5:47pm Apr 11, 2013 5:47pm
Demo accounts are only useful to get to know the software and for complete newbies to learn if trading is something they can do.

Move as fast as you can to real money.

oh, and throw away the EA, they're all crap
https://linktr.ee/Soultrader
  • #35
  • Apr 12, 2013 4:09am Apr 12, 2013 4:09am
I'll second that - all ea's suck and they are designed to make money but for the developer..
  • #36
  • Apr 12, 2013 4:29am Apr 12, 2013 4:29am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Forexnuts
I'll second that - all ea's suck and they are designed to make money but for the developer..
... for the seller/marketer would be the right sentence
MT4/MT5 EAs/Indicators/Alerts coder
  • #37
  • Apr 12, 2013 4:47am Apr 12, 2013 4:47am
Well, they don't all suck, just 99% of them there are plenty of useful EA's. I have a few that I have used in the past - one for example just closes every trade you have open.

Quoting Forexnuts
I'll second that - all ea's suck and they are designed to make money but for the developer..
https://linktr.ee/Soultrader
  • #38
  • Apr 12, 2013 4:54am Apr 12, 2013 4:54am
Quoting Forexnuts
I'll second that - all ea's suck and they are designed to make money but for the developer..
Quoted for TRUTH.

That's why you see so many MT4 Programmers in this forum. Those guys never EVER Trade LIVE and they were never able to make a living off forex, for a period longer than 3 months, YET, they make money coding MT4 indicators and stuff. Truly crazy.
The Black Swan: The Impact of the Highly Improbable
  • #39
  • Apr 12, 2013 6:42am Apr 12, 2013 6:42am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting MapleLeaf
Quoted for TRUTH. That's why you see so many MT4 Programmers in this forum.
You really don't know what you are talking about.

There's a great great difference between the EAs sellers/marketers and the programmers who code tools for their individual clients.
MT4/MT5 EAs/Indicators/Alerts coder
  • #40
  • Apr 12, 2013 9:25pm Apr 12, 2013 9:25pm
Quoting FerruFx
You really don't know what you are talking about. There's a great great difference between the EAs sellers/marketers and the programmers who code tools for their individual clients.

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.
The Black Swan: The Impact of the Highly Improbable
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