Yes right, if any trader want to built up good psychology trading they need to use real account with real money, and usually also will different emotion using bonus with own money from their own pocket, tension in fear losing money will more taste with money that from own pocket money.
That's exactly what I have learned in my experience on the market and I believe everyone has been there and can tell the difference.
Mybe real market condition in demo and real is remain same, but that make different is about emotion and also usualy initial capital in demo use huge number capital to start, many broker offer demo as free acount with more than one thousand dolar while in real account sometime any trader only use one hundred dollar
But however practice in demo is very important, because this as early preparation before jump to real account, and because usually demo use huge capital so better register through metatarder and fulfiled amount capital equivalent with amount money hat want to invested in real account later.
It is equally important for us to understand how well we can do our trades in the Demo trading accounts and that way alone we will be able to spot the differences between trades that will give us profits and the trades that will give us losses
Let me give an everyone an example about Demo and a Live Account. A doctor will never get complete understanding or skill or experience if he never operates on a real patient. If a doctor makes mistakes he may go back to training. But after training, if he doesn't get back to work on a real patient, he’ll never get the real experience.
demo accounts will not be giving you real risk as your money is not involved. however there is a lot more to learn with demo accounts. sites like signaltimes has one of the amazing demo account services ever. got a great learning experience with them.
Well, it’s all about your mental preparations. Yes, you can play with this virtual money but don’t be careless. You are investing your time here. So, new traders should be more sincere.
Sometimes, emotions could appear even while demo-trading. There could be such specific feeling as the need to be right. This means that the trader would believe his decision was right under any circumstances. In case of trading on demo, he would just let the position to become profitable after large drawdown (since there is no fear on demo) or even add to such position. Another thing is that the trader could avoid trades because of the fear to be wrong. All this could damage trading skills and form wrong habits.
The only emotions-less demo trading is back testing on historical data. During such testing (with the help o built-i Tradingview tester or Forex Tester, or something else) the software executes the trades strictly according to the trading rules and generates the final result. Only testing like that could show the real profitability of the strategy.
The only emotions-less demo trading is back testing on historical data. During such testing (with the help o built-i Tradingview tester or Forex Tester, or something else) the software executes the trades strictly according to the trading rules and generates the final result. Only testing like that could show the real profitability of the strategy.
I think, before the live trading traders need to practice with cent account after the demo! The real trading environment is fully different.
No way to ignore your words! That’s why I prefer to use cent account before the live trading.
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