Can I really learn forex with DEMO

e_abrams

Active Trader
Dec 11, 2020
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True, these days people have so many sources of information about trading. I cannot imagine how difficult it must have been pre-Internet, both to learn and to actually trade.
 

shawn.80

Newbie
Nov 4, 2021
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You can learn forex with a demo account by not depending upon it solely. There are several aspects of forex trading that you will learn from online courses or news websites. Reading the daily news will help you grasp more terminologies coming in your way to understand the forex market better. You can spend one hour daily on learning about the forex market like this and be consistent in your demo account trading.
 

e_abrams

Active Trader
Dec 11, 2020
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At the very least, it's helpful to avoid any major fundamental event that would ruin one's neatly made technical analysis. :D
 

lotsun

Newbie
Nov 16, 2021
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Demo trading is a good way to enhance your trading skills and work on your strategies. However it can’t make you a “complete” trader because live trading differs from demo. You are required to have proper risk and money management in live trading. You also need to control your emotions to be successful.
 

e_abrams

Active Trader
Dec 11, 2020
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Certainly. But I don't think making someone a "complete" trader has ever been its express purpose. It's just a learning tool - one of many at that.
 

sunar14

Trader
Jan 17, 2021
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Yes you can however you should expect some deviations in live trading from demo results mainly due to higher transaction costs like slippage and wider spreads.
 

e_abrams

Active Trader
Dec 11, 2020
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I don't think the spreads should be different between the demo and a live account. If they are, change your broker, perhaps.
 

tomass

Banned
Nov 18, 2021
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It’s a good decision to practice on a demo account. But just don’t depend on the results that you make. Demo accounts are mere simulators. You will learn better with a live account with a small amount.
 

cashisking

Banned
Nov 24, 2021
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New traders can certainly learn trading on demo accounts but given a huge difference between conditions on demo and live account, one can not expect to master the trading skills on a demo account. However, without any doubt it is a first step in every trader’s learning process.
 

e_abrams

Active Trader
Dec 11, 2020
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There should not be a huge difference between the two types of account. If there is, I'd change the broker.
 

Cachinnation

Newbie
Dec 14, 2021
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You can learn quite a lot of things on a demo account but not everything. You get accustomed to the trading platform, you learn to place trades, read charts, use indicators but you don’t learn how you actually feel when you win or lose, how these emotions impact your next trading decision and how you can manage your money properly.
 

e_abrams

Active Trader
Dec 11, 2020
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True. But when you can do all these things already you don't feel nearly as stressed when you start doing them on a live account, so learning how to deal with the existing stress is easier, I think.
 

Bungey

Trader
Dec 16, 2021
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You can learn quite a lot about trading while working on a demo account but I can’t say that the knowledge gained is enough to perfectly carry you through trading. Demo accounts are good to get a taste of trading but there are many things which you only learn on a live account.
 

e_abrams

Active Trader
Dec 11, 2020
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Nothing can carry you perfectly through trading, but the more experience one has, the more confident they would be, and the less anxious they would be, which does help.
 

Henry520

Newbie
Jan 11, 2022
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demo is the best place for learning no way to deny . but there is no real money on there , for that reason as a Beginner trader that is really challenging to keep patience continue in demo with more focused.
 

Resolve

Master Trader
Dec 7, 2013
537
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demo is the best place for learning no way to deny . but there is no real money on there , for that reason as a Beginner trader that is really challenging to keep patience continue in demo with more focused.
With the proper use of the Demo Trading accounts we can learn about the currencies and also get to know about the Trends present in the markets.