Is demo trading enough before real account?
Mitglied seit Jul 20, 2020
232 Posts
Aug 25, 2020 at 07:42
I think yes. Because the demo account is the most effective way to learn forex perfectly. Every trader should use demo account at first to learn forex before using real account.
Mitglied seit Jul 19, 2020
318 Posts
Aug 27, 2020 at 13:28
Yes, Demo trading is enogh to learn forex properly. Almost all traders learn forex from a demo account.
Mitglied seit Dec 10, 2019
18 Posts
Aug 30, 2020 at 19:21
A demo account is certainly a great thing to practice and gain a good trading experience. Still, there is a disadvantage that will not allow you to break into the market immediately. This minus is that on a demo account, you don't feel any emotions, because you are not trading with real money. It is very important to be able to contain your emotions and control yourself. A lot of traders have lost their investments because of greed. So you need to open a small account in which you will trade small sums and slowly train your aging and self-control.
Mitglied seit Jan 11, 2019
147 Posts
Aug 31, 2020 at 08:48
Demo accounts are the replica of live account and are used for the purpose of learning the platform and testing the strategies, EAs. However, the forex market is unpredictable. It is not 100% that if you are making profits on demo account, you are gonna make the same profits on live account. In live account, you will be using your own money so one has to be more cautious while placing the trades.
Mitglied seit Jul 20, 2020
298 Posts
Oct 06, 2020 at 02:01
If you are a new trader, you should do demo trading first. Demo trading helps to develop your skills. There is no such thing as demo trading to use strategy as a new trader. Demo trading is very beneficial in education. In this case, a good broker is needed. A broker can take a trader to a good platform.
Mitglied seit Sep 07, 2020
72 Posts
Oct 06, 2020 at 08:03
Demo trading is done in a way that you can understand and strategize the live account but without money psychology. However it is very useful for the beginner to learn everything that there is for the trading.
Mitglied seit Jun 30, 2020
47 Posts
Oct 21, 2020 at 11:06
It’s not enough but it’s definitely necessary. Demo account is the only way for a new trader to get a feel of the broker before live trading. I personally have used Fxview but you can choose any broker you prefer like Oanda, Alpari or London Capital Group. Just make sure that it is regulated, stay away from scams!
Mitglied seit Aug 17, 2020
123 Posts
Oct 21, 2020 at 17:48
Demo trading is definitely necessary. They might not be enough as they cannot simulate the emotions you might feel when there is real money at stake but I think you can adjust your mindset to treat demo money like real money as much as possible. Regardless, it is useful for testing your strategies before you risk your capital.
Mitglied seit Mar 16, 2020
54 Posts
Oct 22, 2020 at 11:43
demo account is a replica of a live platform. it is very useful for building up a strategy as one can play around and learn more about the live trading.
Mitglied seit Jul 20, 2020
232 Posts
Oct 22, 2020 at 20:46
I think only demo can not help you to make prepare yourself for real trading. You have to research and follow many more things to become experience in trading.
Mitglied seit Jun 05, 2020
33 Posts
Oct 23, 2020 at 11:24
Demo trading is one of the essential steps before live trading, but not the only one.
Mitglied seit Sep 08, 2020
38 Posts
Oct 29, 2020 at 09:48
Other than demo trading, you can also do a free babypips course to enhance your knowledge about trading and refer some youtube channels as well.
