Can demo accounts give us all we need?

Discussion in 'Newbie Questions' started by Peter Brandley, Sep 13, 2012.

  1. radex78

    radex78 Active Trader

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    Maybe if we in luck, still possible making one dolar ecome five dollar, I have funny experience in my trading career, which use capital one hundred dollar but eventualy loss and mc, and startywith one dollar can increasing more than twenty dollar
     
  2. UPTOEARN

    UPTOEARN Newbie

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    DEAR GUYS

    if possible to activate EA dimo to the real account?
     
  3. Enivid

    Enivid Administrator Staff Member

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    From the MQL5 Market? No, you'd need to pay for the full version.
     
  4. Gerrard Hank

    Gerrard Hank Trader

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    Never! Here's the difference. Trading a live account helps you clearly see the need for discipline and risk management. Often on a demo account, discipline seems inessential and placing stops seems like something that was designed to prevent from making you rich whereas a live trader knows these two aspects are just as important if not more so than a strategy that allows you to decide when to enter and when to exit a trade.
     
  5. Navigation FX

    Navigation FX Trader

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    Demo accounts are great if you want to test forex strategies and robots etc. Demo accounts are great for testing the software and getting used to how the commands work etc. But like a few people have mentioned, there seems to be less discipline when it comes to a demo account. You need to be able to control emotions with your own money also and have some risk management. I used this quote the other day on our twitter, ""The trick is to stop thinking of it as 'your' money".
     
  6. Roifx

    Roifx Trader

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    Yes, i agree with you. You can increase your trading experience on demo acc with free. So this is very good platform to show your skill about trading. You need to be apply your knowledge in demo so that you can gain in real account.
     
    Navigation FX likes this.
  7. Hafizmd

    Hafizmd Active Trader

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    It may seem like gambling for the first time I think... I'm talking about those randomly put stop-losses, and so on. Sooner or later one should go live and I doubt that acting in such a way will take place on a live account :) No one wants to lose money, right?
     
  8. Gerrard Hank

    Gerrard Hank Trader

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    Trading is not a child’s play and no one wants to lose money, that is why newbie traders must take advantage when brokers offer them to test their platforms and practice for free through demo accounts.
     
  9. MariaMaxxus

    MariaMaxxus Trader

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    Yes, I believe demo account is powerful enough to give us quite a bit especially when it comes to creating plans and strategies, it is the way we are going to get success.
     
  10. Andrew101

    Andrew101 Active Trader

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    Whether you're new to Forex trading or already an experienced forex trader, a demo account is an ideal way to get started. But it won't give you all you need. Why? Although demo accounts attempt to replicate real markets, they operate in a simulated market environment. As such, there are key differences that distinguish them from real accounts. Demo account is risk-free and void of emotions, unlike a Live account.
     
  11. Robian

    Robian Active Trader

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    Maybe it's better to use cent accs for practice? Are they fully similar to demo ones?
     
  12. Winjak

    Winjak Active Trader

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    Why not? Use cent accounts for practicing and getting experience, I think that it's even a better option ;)
     
  13. Robian

    Robian Active Trader

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    Don't know. Anyway, both of these variations are safer than trading with big sums :)
    I'm trying to be careful and to check how everything works before investing
     
    Winjak likes this.
  14. Usman Khan

    Usman Khan Trader

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    Agree that very best idea!
     
  15. george5

    george5 Trader

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    Hello
    I think a demo account is the best way to learn about the market environment safely your money, this helps to have a good picture of the broker's conditions when trading on a demonstration account. I agree with fxpiper when he says nothing is worth the trade with real money.
     
  16. darren greg

    darren greg Trader

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    Trading in a demo account benefits both beginners and experienced traders. For those who are new to trading, demo trading is the best way to start and learn how to trade. They can experience live trading environment with virtual investment, refine their trading skills, test their trading strategies. Whereas experienced traders can build, test their trading strategies in a demo account before applying in live trading. It is the best way to learn trading, gain confidence and test trading strategies.
     
  17. Darren Glenister

    Darren Glenister Newbie

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    Well, demo account cannot give you an experience of live account but you can definitely try and practice in demo account. Demo account can offer you a complete replica of the live account & can help you use the leverage, instruments & Forex trading conditions for your knowledge and experience.

    Demo accounts can help you learn & create new opportunities, while you are trying to learn. Yes, if you are a newbie and want to practice before going live. Demo accounts give you all you need.
     
  18. Hafizmd

    Hafizmd Active Trader

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    In fact, it's not a complete replica. Or do you think that quotes on ECN don't differ?
    I want to believe they don't, but I saw that they do with my own eyes :(
     
    Winjak likes this.
  19. Hafid

    Hafid Trader

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    My advice do not stay long on demo. Use it only for introduction with trading platform functionality. Then go to accounts with microlots.
     
    Winjak likes this.
  20. buzzfxbroker

    buzzfxbroker Trader

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    The first step of the training process opening a demo account. With a demo account, you can learn how to operate the trading platform and develop trading strategies for an unlimited period of time, absolutely free. Even if you have no forex market knowledge you can test your skills as a trader on a demo account. All trades on demo accounts are virtual, but they provide the same conditions (same price feed) as those on live accounts. On a demo account you can open and close positions as if you are trading on the real forex market.
     

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