How many test accounts did you need?
- Thread starter dojo
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I am still trading on demo account (in fact on 3 demo accounts). You never stop learning, so you'll always need a demo account to test new ideas. I wasted a countless amount of them. More than 50, that's for sure!
I have 2 live accounts and 3 demo accounts, I will always demo. Plus I tend to compair feeds from different brokers. Get yourself 3 or 4😀
Yeah, there isn't a limit on how many you can have. And you could test a different strategy on each one if you wanted to.
I think that for every trader is unique person, so it is not possible to say exact number here, i can tell you my story ...
I started with only watching market for 2 weeks and after that i jumped in with real account .. i think that it was best possible school for me, because once you loose your own money, you are highly motivated to make them back, so you think .. think .. and think + real trading is with pressure not like demo trading ..
now after three years of trading (scalping) sometimes open an demo account for testing my new ideas, because i know how real trading works 🙂
(of course i did't open my first real account with all my money)
I have 2 demo and 3 live accounts Always I am using Demo account first to make my self confidences before trading with some particular company.
It is a good practice to trade EA on the Demo accounts first so that we can get a fair idea of the markets and are able to see the performance of the EA on them.
You can use as many Demo accounts as you want till you are satisfied with their performance and are able to test the strategy in them with success.
I started with a demo-account. It last for about 7 days. I had it with Trade Copier. So far, I did not try any other software or platform aside from Trade Copier. Anyway, I am open to learning more from other platforms. With the demo, I had 2 test accounts, one as the master and one slave. I used demo accounts to test first a strategy before using it on my live accounts. It's safer actually.
hahaha messing up or blowing an account is ok? i do not know how many demo accounts ive leteraly blown in fact after months of practice and i was like serious about is i did blow a live account once, its totally normal to mess up demo when practicing you can't avoind mistakes, after blowing my first account with hotforex I just continued and learned from my mistakes 😀
Keeping the trades in the Demo accounts is better when not sure about the outcome of a particular news or event and the related impacts it may be having on the markets.
Demo accounts help traders test their trading strategies. They are very useful. I also registered several one. Till now, probably I’ve registered 5 or more demo accounts, cannot remember clearly. But trading on demo account is very different with trading on real account in psychological aspect. So, in my opinion, using micro account to test trading strategy is a better method. I have 2 micro account in Profiforex. I felt the testing outcome on micro account is better than on demo account.
ROTFL..
Oh yes, if we can all predict the market movements or the news impact on the market, we would be making tons of $$$..and yes, the quest for that kind of "edge" still continues..*sigh* if it were that simple..
Oh yes, if we can all predict the market movements or the news impact on the market, we would be making tons of $$$..and yes, the quest for that kind of "edge" still continues..*sigh* if it were that simple..
it's ok to blow or mess up once or twice. as long as at the end of the day, you learn from the experience. before, i got frustrated when I messed one of my accounts with tradecopier dot com. but i get the hang out of the risks. now i feel more confident with every trade i do.
I have also blown my account and that happen as i know that i am taking more risks for more gains so it is a pre-calculated move by me which may or may not be successful.
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