Can demo accounts give us all we need?

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

  1. Alma James

    Alma James Trader

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    Obviously, not. It is practically difficult to learn legitimate cash administration and feelings control with demo account.
     
  2. JimTatum

    JimTatum Trader

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    Maybe true. But the real experience with real money matters.

    - Jim @ Wetalktrade
     
  3. Alexfx79

    Alexfx79 Active Trader

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    Nor demo, neither cent accounts won't help with psychology. It's like a training simulator, but the real prototype is a completely different thing!
     
  4. benralectri

    benralectri Trader

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    Demo is very useful. Well, imagine that you would immediately go to war.
    You read a book about it, and you were told how to behave in battle, watched a film about the heroes of the war, and then you were thrown into the very heat of battle.
    Demo - it's military simulations and exercises, it's even better, it's a 100% imitation)
     
  5. Winjak

    Winjak Active Trader

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    Not actually 100%, but 70% maybe:)
    Performance differs and as it was said before, psychology
     
  6. Hafizmd

    Hafizmd Active Trader

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    performance may ba a bit slower yeah
     
  7. SweetPrincess

    SweetPrincess Trader

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    Forex demo accounts is very helpful especially to the newbies. It can help traders to practice in able to familiarize the trading platform and to improve their trading skills. I also did demo trading when I am still a newbie and have learned a lot from it :D
     
  8. Kuznec

    Kuznec Trader

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    I would say that too long stay on a demo account will only harm further trading with real money. No training will replace real combat.
     
    SweetPrincess likes this.
  9. SweetPrincess

    SweetPrincess Trader

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    Of course you must not stay too long on demo accounts. It is just a way of preparing yourself in live trading. Demo is just a way to practice trading unlimited in which you can test your different trading strategies and gain a better feel for what moves the market, how it moves and how much it moves. It will not make you a perfect trader but it will help you in acquiring more knowledge and skills in the Forex trading business. :)
     
  10. JimTatum

    JimTatum Trader

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    Hi,

    You can learn how trading can perform in trading platform in demo account. Nobody can start live trading without getting experience in demo account. We can understand that how to enter and exit trade. We can learn the basic terms and its features in Forex trading demo account. But the experience when you are trading in Live account is entirely different from trading in Demo account. You need not become tensed when your account wiped out in demo trading. But when it comes in the form of real money in Live trading you have to take care of your savings. You cannot trading in Live account by means of guessing. If you are sure about your strategy, then only, you can take a chance. So demo account helps you to learn and to test your strategies but you can earn money in Live account only.
     
  11. ashouq

    ashouq Active Trader

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    Demo accounts are very similar to the live trading account, they almost provide every thing to learn with virtual funds hence we cannot withdraw anything from this account so in order to check the broker's further processes like withdrawals it is good if we start with small amount to test the broker further.
     
  12. Hafizmd

    Hafizmd Active Trader

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    similar but not the same
    the execution is different. and spreads. and the speed
     
  13. JohnyStan

    JohnyStan Trader

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    It's not about the technical differences (execution etc) but the emotional differences. What works for you on a demo account wont work on a live trading account.
     
  14. Winjak

    Winjak Active Trader

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    still, the first vary too
    demo trades are not transfeerred to the interbank
     
  15. ashouq

    ashouq Active Trader

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    Exactly the only difference is that we have virtual funds in demo trading account just to learn the forex processes more easily than any other learning method.
     
  16. Kuznec

    Kuznec Trader

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    So I'm talking about the same thing, it's like treating a surgeon who used to practice on mannequins before.
     
  17. ashouq

    ashouq Active Trader

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    Better keeping our emotions out while trading forex, either its on demo or its on live accounts however it is always good to test any strategy on a demo account before implementing it to live trading accounts to get better results.
     

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