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General Forex Discussion
Demo Account vs. Real Account
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[QUOTE="mumuy, post: 56199, member: 23995"] It’s a good idea to explain about why we must use demo account first before we opened real account. Yes, we must try to apply what we have learned in the theory but we use simulation which is made as similar as happened in real trading. We could use our strategy, psychology, and also our money management better if we trained in demo first although it didn't guarantee we won't suffer loss. It gets you accustomed to the environment and the platform, how the prices change in real time. It educates you about Spread, Pip, Bid Price, Ask Price, Orders, Positions, Take Profit, Stop Loss, Slippage etc. And you can do some back testing, that when the market do this so then what happens and what time of the session. It is not necessary to do it for long time it's until when you get to know and understand everything. Everybody is different and the way they learn, some are fast learner and some are slow. [/QUOTE]
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