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Is demo a step before real trading?

  • #201
  • Apr 14, 2016 11:56am Apr 14, 2016 11:56am
Yes. But it'll only help if you actually study and learn while you demo trade.
  • #202
  • Apr 14, 2016 1:27pm Apr 14, 2016 1:27pm
I needed a demo account to practice and learn before going live, otherwise I wouldn't have had the confidence to use my own money.
So many in the Commercial section want to make me rich! :o
  • #203
  • Apr 14, 2016 3:19pm Apr 14, 2016 3:19pm
Quoting Alexa000
I have met a lot of traders, who had traded profitably on demo accounts, but had losses on real ones. So yep, demo is good for training, but it's not the same as a real account.
There is no doubt that emotions will certainly come in as soon as hard earned money is involved. One major problem with traders is that during demo trading they open demo account with large sum of money(virtual) , so different from the amount they wish to open live account and trade with high lot size. My mentor always recommends that the amount you wish to open live and demo should be the same. How is it going to work when you demo traded with $50000 and during live trading you open with $1000 or even $500. I was in a trading forum where one of us said he was trading demo with $100000 and taking ten lot size. Somebody who was learning how to trade
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -3.8%
  • #204
  • Apr 15, 2016 3:31am Apr 15, 2016 3:31am
I have the same problem - someone very close to me is trading on a demo account and has opened a $100,000 account. And I keep telling them that they can never invest that much money, so what's the point of trading like this, their results would be unrealistic compared to what they can invest, but they don't listen to me. It's a conversation we have almost every day, it's very frustrating.
  • #205
  • Apr 16, 2016 3:09pm Apr 16, 2016 3:09pm
I only traded a demo account for a week before i got bored and moved to a live account with a small deposit of $200 after awhile i realised my account was to small so i started with a $1000 account it definetely helps your trading to trade with a live account i get tired of seeing people post their results only to find its a demo account of a ridicolous size i dont really care how much money someone has made off a demo account
  • #206
  • Apr 18, 2016 10:37pm Apr 18, 2016 10:37pm
It is, useful not only to learn how ti trade on a platform, but also work out your strategies
  • #207
  • Apr 19, 2016 3:53am Apr 19, 2016 3:53am
Quoting mozart4646
I only traded a demo account for a week before i got bored and moved to a live account with a small deposit of $200 after awhile i realised my account was to small so i started with a $1000 account it definetely helps your trading to trade with a live account i get tired of seeing people post their results only to find its a demo account of a ridicolous size i dont really care how much money someone has made off a demo account
Did you have any prior experience before that? One week of training seems very short to me. It took me that long to completely figure out the software and the basics, let alone learn any useful strategies.
  • #208
  • Apr 19, 2016 5:09am Apr 19, 2016 5:09am
Demo trading is fine for a complete newbie. You need to understand the fundamentals of Forex before going live. You need to know how leverage affects your account, how margin affects your account. You need to test stop orders, limit orders, market executions, stops, TP's trailing stops.

You need to understand how to add indicators, how to mess about with EA's, how to draw on the chart, test different timeframes, templates, the weird and wonderful drawing tools...

After all of that you need to test some strategies, you need to see the power of having a 100K account, and blowing it all on one trade, you need to be able to take $100 demo account, and make $0.2 on a trade, and think you have made it

However, these are all the things to do to acquaint yourself with the trading programme and the idiosyncrasies of the Forex market.

If you want to be profitable, you need to conquer your demons - which will always be yourself. I think just about ANY system can be profitable - but you need to understand yourself and optimise it.

The only real way to move yourself forward in the trading game is to go live. $0.1 profit on a live account is way better than a 50K profit on a demo account. Likewise a $0.1 loss is far more terrible than a 50K loss on a demo account. You need to accept that losses happen in trading, and the sooner you realise this, and can accept them in a live account, the quicker and easier it is to be profitable.

The mindset is THE MOST important thing in trading. Money comes and goes, it is not difficult to make money in Forex, the difficulty is KEEPING it! A good Trading plan setting out why, when and how you are going to trade will keep you right over the long term. Money management will multiply the winning dollars.

Demo accounts are only for people who dont have the balls to trade.
  • #209
  • Apr 19, 2016 2:35pm Apr 19, 2016 2:35pm
Quoting mozart4646
I only traded a demo account for a week before i got bored and moved to a live account with a small deposit of $200 after awhile i realised my account was to small so i started with a $1000 account it definetely helps your trading to trade with a live account i get tired of seeing people post their results only to find its a demo account of a ridicolous size i dont really care how much money someone has made off a demo account
A week is not even enough to read articles on good forex websites.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -3.8%
  • #210
  • Apr 20, 2016 3:20pm Apr 20, 2016 3:20pm
Quoting titantron91
Yes. But it'll only help if you actually study and learn while you demo trade.
Its really hard to learn on demo cuz your are offered much bigger deposit as well as don't get psychological practice where you learn how to take drawdowns, losing trades, a row of losing or winning trades. Its an important part of trading where most demo-masters face problems (had this problem too when was just starting). I'd advice newbies to start from small deposits not to earn just to accept trading and see how you pass "market tests"
  • #211
  • Apr 21, 2016 12:24pm Apr 21, 2016 12:24pm
Personally I only use a 'demo' when I am trying to learn a new platform, so I avoid stupid and costly mistakes. The moment I have a grip on it I go live. I have found over the years that I never really behave the same when I am pretending with money. I have read several places that this is not an unusual behaviour as our relationship with risk changes dramatically when real money is involved and ergo, our pain changes.

I say start with a micro-lot account with a bit of leverage (50:1) and learn what its like live.
In life you get 3 types of people, those who can count and those who can't.
  • #212
  • Apr 21, 2016 8:58pm Apr 21, 2016 8:58pm
Quoting HedgePiglet
Personally I only use a 'demo' when I am trying to learn a new platform, so I avoid stupid and costly mistakes. The moment I have a grip on it I go live.
+1

Not many people would agree with that but I do and that's what I've done. I agree with the rest of your comment too and find that being forced to learn to trade the real way (in terms of the psychology, patience etc.) is far better the sooner that I did it. That way I wouldn't have to un-learn all the bad habits that I might've picked up from trading demo.

On a related note, I would strongly argue that people who do decide to go live quicker, that the money you do decide to put into your live account is NOT your money for rent, food, bills, transport, education etc. You should not be thinking about the money if your account goes bust. This is especially true if you still haven't figured out a strategy that you want to follow. The advice given by others to try nano accounts is really useful in this scenario.
  • #213
  • Apr 22, 2016 1:40pm Apr 22, 2016 1:40pm
Quoting HedgePiglet
Personally I only use a 'demo' when I am trying to learn a new platform, so I avoid stupid and costly mistakes. The moment I have a grip on it I go live. I have found over the years that I never really behave the same when I am pretending with money. I have read several places that this is not an unusual behaviour as our relationship with risk changes dramatically when real money is involved and ergo, our pain changes. I say start with a micro-lot account with a bit of leverage (50:1) and learn what its like live.
I partially agree with you: trading real money changes your mindset, and you tend to make costly mistakes if you are new and you trade real money; for example letting a losing trade open for too long.
On the other hand, you can also learn things if you trade demo for a while, for example how to use proper risk management.
Overall I would recommend trading demo for a couple of months when you are new to trading, then move to a very small real account, and only invest more funds when you have been consistently profitable for a long timeframe (more than a year), if that ever happens.
  • #214
  • May 29, 2017 4:11pm May 29, 2017 4:11pm
I really appreciate demo trading for all kinds of traders especially for the newcomers. My trading career I always use high leverage in demo as well all my trading strategies to see the reaction how works leverage and my strategies. This approach always helps me for avoiding risk when trading in live.
  • #215
  • May 29, 2017 5:58pm May 29, 2017 5:58pm
Quoting HiddenGap
Obviously, there are two sides to this issue. I am going to take one side of the "no demo" argument. One of the few advantages to spot forex is the fact that one can open an account with some brokers with a little as $25.00. Now let's assume you are like a lot of people and spend $5.00 a week day on a Latte from Starbucks. 5 x 5 = 25. So thats $25.00 a week. There are roughly 4 weeks in a month. This gives us 4 x $25.00 = $100.00 So if you forgo a months worth of visits to the coffee shop, you can trade live with an amount of money that wont hurt...
I tend to agree, I started live with $100 doing exactly this, not having coffee. I lost it all. Though it was only coffee money and didn't hurt my living it still sucked to lose. I have been using Pepperstone demo since then for a while now, more than 6 months. I am now feeling confident enough to go live, and know what it feels like to lose money.
  • #216
  • Jun 4, 2017 7:13am Jun 4, 2017 7:13am
Demo trading the first of trading in Forex , but Honestly speaking I have never used this trading place when I was a newbie. Because I was bored in here. I studied in Pips School and besides this i was in live account with small balance. It worked greatly instead of demo account.
  • #217
  • Jun 5, 2017 1:46pm Jun 5, 2017 1:46pm
Demo trade, until you double, treble your account, at least 5 times.
Only then should you even consider trading with real money manually.
  • #218
  • Jun 6, 2017 8:45am Jun 6, 2017 8:45am
hey want some advice i'm trading on a demo account on binary and i'm doing good ,must I go live or what
  • #219
  • Jun 6, 2017 8:59am Jun 6, 2017 8:59am
Quoting monte87
hey want some advice i'm trading on a demo account on binary and i'm doing good ,must I go live or what
My advice is don't trade binaries...
  • #220
  • Jun 6, 2017 1:18pm Jun 6, 2017 1:18pm
Binary!
Just remove this Fucking trading place if you don’t want to loss .
Because the people who excited or interested about this trading place,
they are abnormal. Any casino is better than any binary options.
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