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Is demo a step before real trading?

  • #501
  • Jan 15, 2020 7:56am Jan 15, 2020 7:56am
demo is better , but the best is a micro account because its very supportive to make sure live trading experience. we cant focus in demo even though we know its a best place for practicing.
  • #502
  • Jan 15, 2020 12:20pm Jan 15, 2020 12:20pm
It is and at the same time it is not.

I think demo is like flight simulator and real is flying for real. The stuff is same but not at same time.

If one tries and tries in the flight simulator and get really good at flying then by a good chances and help of other pilots can start flying. After a couple of flights he will be a pilot himself.
  • #503
  • Jan 16, 2020 7:31am Jan 16, 2020 7:31am
I completely agree with you. No pilot learns to fly without a flight simulator, but at the same time you need to eventually control a real plane to be a good pilot.
  • #504
  • Jan 20, 2020 11:15pm Jan 20, 2020 11:15pm
I think mini or micro demo accounts can be considered as the viable option when you are in beginning stage of forex learning part as they expose you to the lowest risk possible.
  • #505
  • Jan 21, 2020 7:01am Jan 21, 2020 7:01am
I agree. That is what makes them (especially demo trading) a necessary step in the learning process.
  • #506
  • Jan 22, 2020 2:56am Jan 22, 2020 2:56am
Demo accounts are the key assets for any successful trader so those who really wishes becoming successful traders of future should not ignore the importance of practicing demo accounts.
  • #507
  • Edited 11:54am Jan 22, 2020 11:26am | Edited 11:54am
Hi.

To be honest, I just traded about 2 weeks on a demo account and here is why:

I joined a paid online course who teaches me a news trading strategy based on fundamentals. That was very good for me because I had no background in financial markets whatsoever.
But there was just very little technical analysis involved, so I tried different things. Trend channels, S/R lines, Fibos in different timeframes...
Then I discovered Davit's thread via google and after reading the first 80 pages I knew that his system fits perfect to my paid online course on fundamental analysis.

So at first I traded on a demo account and it was ok.
But after some trading I dived deeper into trading psychology.

So I changed to a very small Live account.
Very strict risk management and currently it's not about making big profits, it's about staying profitable and that's a huge difference.

So my point is: I definetly think it makes an impact on the psychological part of trading!
  • #508
  • Feb 4, 2020 10:37am Feb 4, 2020 10:37am
In reality, apart of some little differences... there is no difference where/how you trade it... The difference is in the juice aka delivering alpha.. If you can do it... you can do it from newspaper chart.. with pen... if you can't.. nothing can help you... no difference between real and demo really... specially if you have emotions under control... Show me that you can make x10 in demo from reliable broker... you have the money for real so yeah, for sure is a STEP but not TOWARDS.. but you are in it directly, almost DEMO or REAL, just make it... but also be sure to check How it happened, how much with luck, trendsurfing, news etc... The more seizable trades you make profitable, the greater the chance you have something, I guess
Can you afford to take that chance?
  • #509
  • Feb 4, 2020 12:06pm Feb 4, 2020 12:06pm
Quoting auricforecas
In reality, apart of some little differences... there is no difference where/how you trade it... The difference is in the juice aka delivering alpha.. If you can do it... you can do it from newspaper chart.. with pen... if you can't.. nothing can help you... no difference between real and demo really... specially if you have emotions under control... Show me that you can make x10 in demo from reliable broker... you have the money for real so yeah, for sure is a STEP but not TOWARDS.. but you are in it directly, almost DEMO or REAL,...

I took a demo from 1k to 15k in a month and left a pending over Xmas that burnt the lot! Also took 1400 in a week yet as soon as I go live I’ve had losses and not as much luck as the lot sizes seem to play a big part
  • #510
  • Feb 4, 2020 9:38pm Feb 4, 2020 9:38pm
guys, we all know demo and live are pretty much similar yet they differ a bit, mostly the main difference is mental/emotional. its different once you start trading with money you are fearful of loosing. demo trading is mostly a conditioning stage, to more advanced traders its a testing ground for strategies, but in my opinion its a must. I traded demo with hotforex close to 8 months, playing it safe, testing different trading styles, trying to stay up to date with trends and news, before i opted for a live account which i blew a couple of those as a learning process haha. but its all worth it
  • #511
  • Feb 5, 2020 9:23am Feb 5, 2020 9:23am
Quoting TokeFX
{quote} I took a demo from 1k to 15k in a month and left a pending over Xmas that burnt the lot! Also took 1400 in a week yet as soon as I go live I’ve had losses and not as much luck as the lot sizes seem to play a big part
Not sure I would make that correlation necessarily... I would advise to use as similar games demo/real as possible because now we are comparing quite some different parameters... If you think the DEMO works for you but REAL doesn't.. I would advise for you to post DEMO trades and then we can check it with LIVE account in parallel and see what happens.. If DEMO uses real charts I see no reason why you would make money demo but not real... if trading would be the same almost...
What exactly do you change DEMo vs REAL? Why would lot sizes matter that much, could you provide some parallel trades, so same entries, exits.. just different lot sizes demo vs real? maybe you could try demo and real at different broker? Trade in parallel with different lot sizes and see where the disconnect happens?
Can you afford to take that chance?
  • #512
  • Feb 7, 2020 1:17am Feb 7, 2020 1:17am
Dear OP

Demo is fine for some to begin with, especially when learning how MT4 works in general. Depending on your personality, though. The problem becomes if you stay in demo for TOO long. I know that may sound weird since practice makes perfect right? Well, not really. When your on Demo, there are some things you are NOT practicing.

1. Emotions with real money.
2. Slippage and other broker issues and dealing with them.
3. Risk tolerance/other psychological factors.

The list goes on....

So IMHO, to answer your question, yes demo IS fine. To a point, though. It IS important to get on live as soon as you can with as little money you can afford to risk. In some countries that may be just 10$ depending on your salary, and that is fine! Open an account with Oanda and use the smallest position size possible. Remember to not set your expectations too high and be realistic with your trading. Try not to use more than 100:1 leverage when you are new.

etc etc....

Cheers
  • #513
  • Feb 12, 2020 7:29am Feb 12, 2020 7:29am
Quoting kennith
Hey I'm new to Trading as well, but i have some basic knowledge and from what i have heard i think its best to first trade in Demo acc and learn from it before going into live, i haven't started on anything since i'm new to it, so before i go into it just wanted to build my knowledge about it and suggest the same to others.
That is a great attitude to have, I wish you success!
  • #514
  • Feb 13, 2020 8:24am Feb 13, 2020 8:24am
Quoting Athle
Personally, a demo account helped me a lot before I started trading.
For how long did you trade on a demo account?
  • #515
  • Feb 13, 2020 9:53am Feb 13, 2020 9:53am
I'm currently using a demo account and obviously using fake money is a lot different to using real money but a demo account is a must, at least it gives you some experience of placing trades and seeing the results of your research.
  • #516
  • Feb 14, 2020 4:02am Feb 14, 2020 4:02am
Quoting Tekelv
demo account can really psychologically set you up correctly.
I might differ on this but I know only rare take it right. Like I've been telling people that using demo can affect the mentality bad if taking it lightly. Winning demo account does not make the winning live, that's the hard fact.
  • #517
  • Feb 16, 2020 6:41am Feb 16, 2020 6:41am
I agree. Demo trading is useful, but to a point. If you don't take it seriously it can do more harm than good.
  • #518
  • Feb 17, 2020 12:50am Feb 17, 2020 12:50am
I made it a point to stop trading Demo after a while. It can never replicate the same emotions/discipline (at least for me) that you would face when trading with real money.

When i decided to get serious with my trading, i opened a live account (but with minimal deposit) so i feel the real experience/emotions.

It definitely changed the way i see markets. Demo like others have pointed out is useful, but only to a point. Shouldn't get too comfortable with it.
  • #519
  • Feb 17, 2020 1:28pm Feb 17, 2020 1:28pm
No difference, show me the guy that can DELIVER REAL ALPHA on DEMO... he has the money asap... Even if he has (mental) trouble when he sees LIVE vs DEMO.. No problem, he can continue to "play" with DEMO while we COPY to REAL This is not POKER... when being good with PLAY MONEY proves almost nothing... Since game totally changes at REAL and by the BUY-in.. That is the beauty of TRADING... If you can make 10% on 1 cent, you can make on 1million... If you can make 100% return on DEMO, you can make it in real... Assuming reliable broker provides same trading for REAL and DEMO of course...
Can you afford to take that chance?
  • #520
  • Feb 21, 2020 12:00pm Feb 21, 2020 12:00pm
Trading in demo account will not help trader make money in real account.
Demo is practice account.

Forex is complex, it's not like playing a game. Pure random price movement if trader don't understand about basic in forex.
FOREX is buying and selling currencies so the basic of forex is supply and demand theory.

Players in forex trader need to know, how they behave and create imbalance in market.

Learn the basic, forget about indicators. No PRO trader use indicator as entry, but as indicative of how price behave. Be smart retail trader, 90% retail losing money.
I do not recommend anything, please blame me not. Thanks
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