Can demo accounts give us all we need?

Apr 17, 2012
59
0
0
Can demo accounts give us all we need

Forex demo accounts has been proven to be one of the best tools to develop our trading experience and skills. Do you think demo alone can give all that we required in forex trading?:D
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
No, not really but a demo account can allow you to understand the market better and enable you to strategize more effectively. And then again, some of us prefer to jump in with live trading. I would suggest very small sized account if you are planning to start with live, good luck!
 
Apr 17, 2012
59
0
0
Agree with u FXpiper and Enivid- Demo accounts can't give you all you need. In demo account, you just sharpen your skill in forex trading. But there's a factor that can be learned in real account, such as : trading psychology
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
Yup! Nothing beats trading with real money but the flip side: In order to trade effectively with real $$$, you need to sharpen your skills with fake $$$ or otherwise known as demo account..
 

Brain

Trader
Jan 12, 2011
9
0
17
demo trading will only help you with learning to trade fundaments or technicals. but that's not the most important thing. you need to learn to control yourself and be disciplined and this unfortunately is done with real money.
 

Maria08

Banned
Oct 23, 2012
49
0
0
Of course this is very important to go for demo before real. Rarely Demo trading helps for my trading. There I can make some corrections for my strategies and do try them without losing money. I think that is why we should sometimes go and trade in demo account to not lose money while we can make some experiments.
 

Rob Taylor

Active Trader
Oct 14, 2012
131
2
37
UK
www.tradeforexmakemoney.co.uk
Of course, not. It is almost impossible to learn proper money management and emotions control with demo.
Spot on.

Demo is OK for testing new methods or strategies.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
And you can use demo to sort through different brokers, etc. And do note, most free demo accounts have a time limit on the same - would have thought that went against the grain since the whole idea of demo was to learn..
 

krecex

Trader
Oct 8, 2012
72
0
17
Yes, it can give you everything. It is a practice ground for you to build up your skill in trading. But it didn't give 100% accurate for trader to practice it's only to make a person feel what it's the trading about.
 

TheLastBear

Banned
Jul 11, 2012
192
0
0
Demo accounts are a waste of time. You will never know about your broker until you offer a live account. In addition, trading psychology is different when you trade demo money and real money.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
Ah but how would a newbie learn about the ropes, without the demo. Of course, they could start by opening a live account right away but usually that results in the newbie wiping out their account in under 24 hrs..
 

krecex

Trader
Oct 8, 2012
72
0
17
Demo account can help you to practice it is not sort of waste of time. If you never practice with demo account, you are treating forex like gambling. But treat demo account like real trading, this will help you to minimize the lost during trading.
 

TheLastBear

Banned
Jul 11, 2012
192
0
0
Ah but how would a newbie learn about the ropes, without the demo. Of course, they could start by opening a live account right away but usually that results in the newbie wiping out their account in under 24 hrs..
That would be the only smart way to learn and they would not wipe it out in under 24 hours until they are totally mental. I always recommend newbies to open a micro-account, fund it with $100 and only trade 0.01 lots. Those who don't have $100 to invest into their trading education should not be trading to start with. Yes, chances are after a while the account zooms down to zero, but if the traders were somewhat intelligent they would have learned a lot. Repeat the process until you make profits.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
LOL believe me, if everyone had $100 and in multiples to throw away, they would not be trying to work for a living in this market. Instead, they would jet to Bahamas and have a tequila cocktail while watching the sun set..damn, I'm in the wrong place..
 

daveM

Master Trader
I have a few demo accounts, one for testing my robots and several to have different trading setups running on. I like to see different looks when trading manually so I often have three or four demo platforms open.

There is no rule as to what is right except to end up with a profit, some people want to try a few things and that is where a demo comes in handy. IMO
 

TheLastBear

Banned
Jul 11, 2012
192
0
0
LOL believe me, if everyone had $100 and in multiples to throw away, they would not be trying to work for a living in this market. Instead, they would jet to Bahamas and have a tequila cocktail while watching the sun set..damn, I'm in the wrong place..
In case you do not have $100 you are def in the wrong place.
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
Hah! I do have the $100 to burn and "in multiples" but not sure if all the noobs making their way to retail forex have the same..
The sad truth is that most to these noobs think of fx trading with $ in their eyes and put in their savings with the obvious result..just wish they'll take the time to do the research before depositing even a single $..
 

advisor

Trader
Feb 25, 2012
14
0
22
If You have Your own prifit sistem I think today You can sell our signals from Demo accounts to Real accounts without risks. Look at many copy servises and 445 version of MT4:
 

Attachments

Fxpipper

Master Trader
Oct 26, 2011
1,132
1
49
Best profitable EA..come on, that's the line that's used for every single EA out there and to top it, most of their track sheets, are based on historical data than real time data.
Nearly all the EA's out there make money for one person, the coder who came up with it in the first place but that's just my 2 cents..