Demo Account or Live Account? Any Comments?

Discussion in 'General Forex Discussion' started by okamiraito, Nov 28, 2012.

  1. aqibFXmart

    aqibFXmart Trader

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    yeah, let's first learn the forex business is on demo account. so, if we do not want to reproduce the error in trading, then we must learn demo account to the maximum. so we will not do a lot of carelessness on the real account.
     
  2. radex78

    radex78 Active Trader

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    If any newbie they seriously learning through demo account I think will better than jump directly to real account, and demo account always useful for backtesting any system and strategy forex
     
  3. ArslanKemal

    ArslanKemal Trader

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    of course it's better to start with demo, if you don't want to loss. But in general demo is just the way to "taste" trading. And only live trading gives the opportutiny to learn and to make the knowledge deeper.
     
  4. radex78

    radex78 Active Trader

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    Yes after learn system trading might about how to use indicator etc then practice in demo account will useful for trader implemented these system on demo account and look how good during backtest, but usually different in emotion pressure might demo can't built psychology trading
     
  5. boo_sl3

    boo_sl3 Trader

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    indicators are very important for us to be able to analyze the market well, because the indicator then we will not be any in the decision to trade. We can use a demo account or follow a contest demo to learn to understand the indicators well
     
  6. radex78

    radex78 Active Trader

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    For some trader using indicator is like as compulsory task as weapon to analyze the market, and it will boosting their confidence to making decision, but also not all trader use indicator which some of them only use list object as help tool like as trend line horisontal line
     
  7. Mohdfx

    Mohdfx Active Trader

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    I am new but I have been practicing on Demo for 3 months. It's a good basics. But I still have to work on my strategy. I trade little sums cause don't want to lose all my money at once. But using Demo was very useful for me. At least I got used to MT4 and can work with it efficiently now.
     
  8. radex78

    radex78 Active Trader

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    I think very good step newbie start and learn using demo account, if not yet familiar with platform trading they can learn how to use platform, and also with demo account any trader can practice in real market condition with free of risk at all
     
  9. Bidalufias

    Bidalufias Trader

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    I prefer to go with a Real Account straight away. Somehow I feel that Demo Accounts do not give you the right feel or mindset that you need to be in for trading. There are plenty of cent account options to start your trading journey with.
     
  10. radex78

    radex78 Active Trader

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    I am ever reading same statement from fellow trader, but if still really newbie using demo account also they can learn how to use mt4 platform and also trying to implemented kinds method as help tool if they use indicator, but all depending each trader decision
     
  11. Mark Fahad

    Mark Fahad Trader

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    Before live trading, we the traders have to take demo account seriously to acquire all basic fundamental market principle which is very supportive to continue a live trading in a proper way. But practically by and large newcomers don’t believe the importance of this trading place. As a result without acquiring any trading knowledge, they try to make money from this market place very rapidly and fall a great loss. Thus they blame this currency trading place.
     
  12. boo_sl3

    boo_sl3 Trader

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    Demo accounts and real accounts are equally needed in the business, and therefore we must use this account properly. before start trading real money account then we must use the first demo account as we prepare to trade real account so that we will have a good preparation
     
  13. radex78

    radex78 Active Trader

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    Certain trader using demo with goal to making backtest any new system or indicator or if they like and want using ea also they need to backtest on demo account, but actually result good in demo not guarantee also good in real account
     
  14. DarkMindFX

    DarkMindFX Trader

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    Demo first... always! :)
     
  15. Twin butterfly

    Twin butterfly Active Trader

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    Demo should be always consider first f one is new to market or experience one. It is a handy tool for every trader to try out their new idea or for learning purpose.
     
  16. Winjak

    Winjak Active Trader

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    You know., there special simulators to practice trading. But still I think demo is a nice var to test a new strategy before implementing it on the live acc. And it's totally free.
    There is an opinion that demo can desorient newbies due to fully virtual money, but it's not a very big minus.
     
  17. Twin butterfly

    Twin butterfly Active Trader

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    Demo is good start when one is new in market but following rules of Forex is also important when you are working on demo. Because only demo trading will not help you until you are serious with it.
     
  18. Mohdfx

    Mohdfx Active Trader

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    I traded on demo for several months and now I'm on live for more than one month. I can say demo was useful. I didn't lose that account yet cause I will need it to test some new features (if I decide to change my strategy).
     
  19. Andrew101

    Andrew101 Active Trader

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    Practicing with Demo account will definitely prepare you for Live Account. It's like a practice lab for a doctor. But a doctor won't stay there forever. It is the same with you and other new traders. You cannot stay on a demo account for too long if you want to be successful at real-world of trading. Trading with a Live account will teach you what Demo account won't. So if it's your goal to trade constantly and make REAL money, then you need to start trading a live account.
     
  20. Twin butterfly

    Twin butterfly Active Trader

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    Good to here that you have started with learning and practicing demo, also it been helpful. Not every one can do it easily because forex is risky and people just want to earn money and they are never ready to learn any new things.
     

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