True; this is why traders need to practice in cent type live account after the demo; because emotion is a new chapter for live trading!
Right, and if not dealt with properly, these emotions can ruin the entire trading journey.
True; this is why traders need to practice in cent type live account after the demo; because emotion is a new chapter for live trading!
And what about testing some new strategies?Demo should only be used as a reference to learn the basics of the platform. Live account and demo account will never fetch you same results.
I meant that the demo has absolute liquidity. On small accounts, excellent liquidity, but not absolute. On large accounts, a lack of liquidity can already be felt in trading.No way to ignore; but traders need to use the demo sincerely, if they want to make success in the live trading; otherwise the demo trading will be meaningless!
Doesn`t that depend from a wrong/good broker choice.I meant that the demo has absolute liquidity. On small accounts, excellent liquidity, but not absolute. On large accounts, a lack of liquidity can already be felt in trading.
You are quite correct the psychology is absent when on demo , you just can't replace that .Demo trading is simply to know how the trading component functions. Step by step instructions to open and close a trade. The most effective method to utilize MT4 for trading. Be that as it may, the genuine learning starts when you begin to trade with genuine cash. Trading with genuine cash includes feelings that reason a large portion of the mix-up. You can likewise utilize demo to test your trading methodology.
You are quite correct the psychology is absent when on demo , you just can't replace that .
YesSo, what do you think; after demo cent type live account would be a great option or not?
Right, and if not dealt with properly, these emotions can ruin the entire trading journey.
Right. You can even use demo account to try out new methodologies/strategies.Demo should only be used as a reference to learn the basics of the platform. Live account and demo account will never fetch you same results.
The demo is generally a great thing for testing out new strategies and platforms.
Perfectly said!Forex trading is not an easy job when you are trading with a demo account its completely different as demo account trading is not realistic enough as you are not using real money and you don't have any emotional connection with the money because its dummy and it dosent matter either you loose the amount but if you have some money in the liv account you have actual emotional connection you have a feel how market goes but still I would suggest to start with demo account because it will build your decision making power once you master in it you can go with real money and that will actually teach you how to handle the risk.
I see, traders try to close their green trades too early in live; but they continue in demo.New strategies making money on demo is good , great , fantastic ........until they use it live.
cause it is called loss aversion , loss aversion on live with real money, but traders behave differently on demo money/ fake money.I see, traders try to close their green trades too early in live; but they continue in demo.