Demo account; Is it enough for learning?

Discussion in 'Newbie Questions' started by vicknic, Mar 20, 2014.

  1. Fxpipper

    Fxpipper Master Trader

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    Exactly..and for the record, a micro account does not cost much so it would be great to use it to get some actual live account trading exp..
     
  2. toretton

    toretton Trader

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    My opinion is it's better to trade on cent accounts rather than on demo ones since cent accounts r real ones and u can feel a market..
     
  3. vicknic

    vicknic Confirmed ProfiForex Representative

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    Thank you for your honest opinion. It turns out that you are correct. Trading with a Cent or micro account is like demo trading because you are trading with the lowest money and this reduces the risk of practicing and losing a large sum of money. You can begin with just $1
     
  4. toretton

    toretton Trader

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    demo is not the only way to learn Forex.. personal improvement, every day learning, practicing on mini accounts and communication on forums, exploring smith new...
     
  5. ramizjilani

    ramizjilani Trader

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    I'm in favor of using Demo account. As long as the investor doesn't get enough experience to trade using the real account he should try and learn with the demo one first.
     
  6. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    The only benefit from demo trading is that you can learn how to use a trading platform and all the tools on it. When it comes to trading part and developing a trading strategy you should use a small live account and trade there with your own money. Developing a trading strategy on demo account is useless, because what ever strategy you'll develop on demo account is not going to work once you move to live trading.
     
  7. duxingxia

    duxingxia Trader

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    Demo account just provide your a free opportunity to learn how forex trade work, it's far alway from learn how to get success. The most useful way should be keep learning the lesson and knowledge.
     
  8. Weronika

    Weronika Newbie

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    Demo accounts only give you a bit of experience as to what to expect when trading with real money but it is a different experience with real money. You need to make correct decisions because in the real money account you will lose real money, but in the demo you lose virtual money. No risk.
     
  9. Fischer

    Fischer Confirmed IronFX Representative

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    As i see it Demo account can be used as a tool to practise or try some strategies but that's it ! being successful on demo account doesnt mean that you are successful in real trading
     
  10. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    Demo account is only a part of training. You had better watch trading webinars or take some courses. You can read books. And, of course, you get the best experience when you trade with real account.
     
  11. myfxpt

    myfxpt Master Trader

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    A demo account is a good way to learn your way around the trading platform, experiment with different timeframes, get a feel for the speed at which the market can move at times, and of course, test a trading strategy. BUT...a demo account will never test your ability to manage emotions. A live micro / cent account is the ONLY way to get a taste of the real action, and should form part of your education!
     
  12. markiva

    markiva Confirmed ProfiForex Representative

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    I totally agree with you demo account might be useful but not enough if you want to experience real trading to gain the needed experience then one has to go into live trading.
     
  13. koyl

    koyl Trader

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    Demo account gives you good learning experience but does not increase your trading experience . Live account is needed for real trading and having skills.
     
  14. Artur

    Artur Newbie

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    Im sure learning without demo account will be very expensive, but from another hand you should never forget that its only a simulation of trading and in the end in the real life u will have to deal with other problems, ex. - emotional instability
     
  15. March

    March Banned

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    Using demo-account one can develop some practical skills. Of course, just demo-account is not enough for learning. You need also trainings, webinars, books, etc. But all the theory doesn't work until you try the methods by yourself. And you can do it without any looses only using demo-account. Or you can use some huge no deposit bonus at the beginning. Both ways help to save your money when you are beginner. I started my career at FF exactly learning at the demo-account and then activating no deposit bonus at the real one.
     
  16. fxapex

    fxapex Active Trader

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    Yes you are right but Demo accounts gives you a real life market experience which helps you in understanding market , your theoretical knowledge will be answered in Demo accounts.
     
  17. radex78

    radex78 Active Trader

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    Will diferent experience practice use demo acount compared with real account especially about emotion, usually in demo account will free from emotion pressure and in real account wil involved emotion during trading and if we want to built up psychology trading we must jump to real account. demo account useful to forward test syetem trading built can't develop psychology trading in my view.
     
  18. Sumita

    Sumita Trader

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    Nothing is enough for learning. Forex market is a big ocean in which as we learn more the things get more deep.
    Demo account is definitely one of the good ways to learn forex, but actually untill and unless one start trading in the live environment the reality can never be faced.
     
  19. radex78

    radex78 Active Trader

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    Demo account is only use virtual money, but still useful to learning, if any trader they want to learning how to use indicator like as bolinger band as trading based on these indicator, demo account is useful to backtesting as long as they obey rules indicator hence it will understand how trade using these indicator.
     
  20. Clark Doherty

    Clark Doherty Trader

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    its very hard to feel like youre trading real money when its only Demo! better to start slow but with real money asap but you should know how the platform works too!
     

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