Can I really learn forex with DEMO

[shawn.80]

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.

 

[hk_09]

Reading the daily news

I agree with you. Reading news and looking for major economic events are really helpful for making a strong analysis for your trades.

 

[e_abrams]

At the very least, it's helpful to avoid any major fundamental event that would ruin one's neatly made technical analysis. 😀

 

[lotsun]

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]

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]

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.

 

[Trends555]

Always best to start with demo and yes you can learn plenty

 

[e_abrams]

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

 

[tomass]

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.

 

[e_abrams]

It depends on what one is learning - how to actually trade or how to deal with the stress of it.

 

[cashisking]

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]

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

 

[e_abrams]

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.

 

[e_abrams]

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]

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]

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.

 

[Henry520]

yes i do agree , but only good knowledge about currencies is not enough to survive in there with successfully.

 

[Dora_WalletInvestor]

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.

I agree, gaining confidence is an important thing in the long run - but, of course, only if it doesn't turn into being overly confident.

 

[e_abrams]

I think real confidence comes from being aware of one's abilities and one's limitations. If the latter is missing, the confidence becomes arrogance.

 

[reecerispoli1]

trust me, even some of the best traders out there still use a demo account to practice and build on the strategy, so yes you can learn on a demo for sure