Is a demo account really neccassary?
Jun 23, 2022 at 07:18
While you may make a strong point, a demo account is also best for beginners to test out new strategies and give the trader an overall idea of how things work in the live market, which may increase confidence and make them less insecure about making on the spot decisions. It’s a great way to practice trade and understand techniques and methods.
Jul 08, 2022 at 07:41
I agree with your opinion, but I think that a demo account will help newbies learn better about the world of trading. When a newbie is trading with real money with a small account, the loss will still make them feel something, as they lost their money, however small. They will not feel that way in a demo account. They will learn about the market, and they will be able to judge and tweak their strategies. A demo account has certain drawbacks, but I don’t think that newbies should eliminate a demo account from their learning path.
Miembro desde Jun 02, 2022
posts 24
Jul 18, 2022 at 06:28
No. It is not mandatory to trade with a demo account, but why don't you want to trade with demo accounts? Nobody starts making hundreds of dollars on their first day of trading. Demo accounts are there to help you build trading skills and get familiar with the trading system until you are ready to take actual risk.
Jul 21, 2022 at 10:32
Demo trading is a must for every beginner in my opinion. Starting with a real account in the first place will be confusing and overwhelming for them. Also, it helps us to check the trading conditions offered by a broker. And even experienced traders use demo accounts for forward testing their strategies. I still use my demo account along with a live account as it helps me learn and test my trades without risking real money in the first place.
Miembro desde Jun 12, 2021
posts 132
Aug 09, 2022 at 05:27
using a trading strategy in a demo account is really a good approach , this approach is very supportive to avoid unfortunate risk and losses.
Miembro desde May 13, 2022
posts 34
Aug 09, 2022 at 06:48
There is no rule that you have to do demo trading before trading live. But it is recommended because how will you trade if you have no skills and don’t understand the trading platform? Demo trading helps with these two, and it is a good enough reason to get started with it before taking a risk.
Aug 11, 2022 at 10:36
No one is forcing you to demo trade if you don’t want to. But it would be a risk to trade without practising on a demo account as you may not know how to proceed further with live trading. So, demo trade for a while and when you think you are ready for live trading, go ahead with it.
Aug 27, 2022 at 20:19
It's hard for me to imagine how much money a trader will lose if he doesn't use a demo account.
People should understand that this is a great opportunity to learn the trading platform.
No matter who says what, but a trading platform is a heavy and multifunction platform. That's why a trader should be able to study all the tools and understand how timeframes work and how to look for patterns.
It can seem like an exciting adventure.
But it is not necessary to trade on the demo account for too long.
You need to train your emotions.
That's what real money is for!
People should understand that this is a great opportunity to learn the trading platform.
No matter who says what, but a trading platform is a heavy and multifunction platform. That's why a trader should be able to study all the tools and understand how timeframes work and how to look for patterns.
It can seem like an exciting adventure.
But it is not necessary to trade on the demo account for too long.
You need to train your emotions.
That's what real money is for!
Miembro desde Aug 17, 2022
posts 80
Sep 02, 2022 at 10:02
To begin with, I believe that demo accounts are necessary for experimentation, as they enable us to prevent unfortunate losses and risks when dealing with real money. Also, we get to learn our hands on trading and various tools involved.
Miembro desde Aug 02, 2022
posts 24
Sep 06, 2022 at 06:26
They are, of course. They allow you to practise trading without risking real money by using virtual money. Demo trading can be very useful for evaluating the performance of a trade strategy and for trader education. If you jump into the live market without practising then you’ll end up losing all your funds.
Sep 08, 2022 at 12:17
If you are new to trading then definitely it is important for you to first trade on the demo account and then shift to a real trading account. It is for the benefit of you only, to understand the trading deeply before trading real funds.
Miembro desde Sep 13, 2022
posts 1
Sep 13, 2022 at 23:08
*ᴅᴏɴ'ᴛ sᴛᴏᴘ sᴇᴀʀᴄʜɪɴɢ ғᴏʀ sᴜᴄᴄᴇss sᴀʏ ɴᴏ ᴛᴏ ᴘᴏᴠᴇʀᴛʏ, ʙʀᴇᴀᴋ ᴛʜᴇ ʏᴏᴋᴇ. ᴍᴀɴʏ ʜᴀᴠᴇ ᴛᴇsᴛɪғʏ ᴀɴᴅ ʟɪᴠᴇs ʜᴀs ʙᴇᴇɴ ᴄʜᴀɴɢᴇᴅ ғᴏʀ ɢᴏᴏᴅ*
*ᴛᴏᴍᴏʀʀᴏᴡ ᴍᴀʏ ʙᴇ ᴛᴏᴏ ʟᴀᴛᴇ ᴊᴏɪɴ ᴜs ᴛᴏᴅᴀʏ ᴀɴᴅ ᴍᴀᴋᴇ ᴇᴠᴇʀʏ ᴏғ ʏᴏᴜʀ ᴅᴀʏ ᴀ ʟᴜᴄᴋʏ ᴅᴀʏ*
*ɪғ ʏᴏᴜ ᴀʀᴇ ʀᴇᴀᴅʏ ᴛᴏ ɪɴᴠᴇsᴛ ᴍᴇssᴀɢᴇ ᴍᴇ ɴᴏᴡ ʟᴇᴛ ɢᴇᴛ sᴛᴀʀᴛᴇᴅ*
*ᴛᴏᴍᴏʀʀᴏᴡ ᴍᴀʏ ʙᴇ ᴛᴏᴏ ʟᴀᴛᴇ ᴊᴏɪɴ ᴜs ᴛᴏᴅᴀʏ ᴀɴᴅ ᴍᴀᴋᴇ ᴇᴠᴇʀʏ ᴏғ ʏᴏᴜʀ ᴅᴀʏ ᴀ ʟᴜᴄᴋʏ ᴅᴀʏ*
*ɪғ ʏᴏᴜ ᴀʀᴇ ʀᴇᴀᴅʏ ᴛᴏ ɪɴᴠᴇsᴛ ᴍᴇssᴀɢᴇ ᴍᴇ ɴᴏᴡ ʟᴇᴛ ɢᴇᴛ sᴛᴀʀᴛᴇᴅ*
Sep 17, 2022 at 07:37
RSI and moving average seem to be good indicators. These are the mostly used indicators around the world. They will help you view the market technically. There are also other indicators as well which you can use also to analyze the market.
Miembro desde Sep 21, 2022
posts 6
Sep 28, 2022 at 11:24
There is no compulsion. But why do you want to enter into a market which you don’t know the ins and outs of ? A successful trader has a profitable strategy in hand. As a newbie, if you fail to have it, the market is going to give you a hard time. Demo trading is helpful to come up with a profitable strategy, saving your time and money. So, never skip it!
Miembro desde Oct 01, 2022
posts 53
Oct 02, 2022 at 14:52
i am still doing demo trade , where i use all my trading strategies and high leverage to see the performance how it works.
Miembro desde Apr 09, 2019
posts 538
Oct 03, 2022 at 09:28
I don't think this is true at all. You can get a good idea if a strategy works or not on demo to at least give yourself a good chance of getting somewhere on a live account and use the confidence derived from having a large dataset to prevent doubts creeping in and wrecking good trades.
If you can't spot the liquidity then you are the liquidity.
forex_trader_3036016
Miembro desde Sep 29, 2022
posts 15
Oct 04, 2022 at 12:54
It’s good for practice and creating strategies but don’t rely on it too much as live trading is quite different. The difference arises because of slippage, execution, difference in spreads, etc. All the factors can impact the trading system. After I had a strategy in hand, I moved to a micro live trading account.
