Demo accounts hold n o monetary value which deprive us from facing risks and regulating emotions. Traders should understand that the only purpose of a demo account is to get familiar with the trading platform, develop a strategy and backtest it. It plays no role in facing trading psychology.
It’s all about your mental setup! If you take casually the demo practice, then your demo trading sessions would be meaningless! On the other hand, if you take your demo sessions so seriously, and would like to use as like your live account! Then surely, your practice sessions will be beneficial to you! Personally, I used my demo when I started my trading career!
Anyone who wants to learn but does not want to use a demo account can make a compromise. Try mini or cent accounts with extremely small quantities of your money; this will help you save money and feel genuine danger because losing your own money, even in small amounts, is not pleasant.
When we are making use of the Demo trading systems the income we can get will also get increased.
It is all about psychology. As humans our psychology comes into play only when something important is at stake like real money in a live account. And in the demo account real money is not involved, no psychology, no risks.
Demo account lack in developing a trading psychology in traders. There is no risk of losing real money which means there is no fear, risk or excitement of either making profits or losing them.
Demo accounts are for skill-building. Beyond that, they can’t help you. If you think you have developed skills and want to take a real risk, then step into the live market.
No matter how much someone says that new traders must practice on their demo account as if they are trading on their live accounts. It’s difficult to take demo trading seriously as your real money is not involved and you may not do everything possible to save your money. It’s best to micro trade after you have learnt to use a platform or software.
Absolutely & surely new traders need to use the demo as serious as possible! Without proper trading skill; the live trading would be so much frustrating! And you may know, more than 90% traders struggling in their live trading; since they are trading an ordinary trading skill!
When we are using the Demo trading accounts our income will depend on the trading strategy being used by us.
Risk is there when your money is at stake. How will you feel at risk when you are trading with fake money? Demo accounts are specifically for learning purposes . Want to feel some risk? Step into the real market. You will see the difference!
This is possibly an unpopular opinion…
Many say that you need to use real money to learn so you can fully appreciate the emotion.
I disagree 100%.
Your practice account trades are the same as any real money trade you can make. So I hold two truths close to heart:
If you can’t win in demo, you WON’T win with real money.
If trading demo and making a demo account double (under strict rules and Money Management) is too dull, then you’re not emotionally ready for stable, consistent trading.
Funny enough, I still get frustrated when I don’t win consistently in demo because that’s proof to me I haven’t found my stride yet - which is somewhat disappointing
Many say that you need to use real money to learn so you can fully appreciate the emotion.
I disagree 100%.
Your practice account trades are the same as any real money trade you can make. So I hold two truths close to heart:
If you can’t win in demo, you WON’T win with real money.
If trading demo and making a demo account double (under strict rules and Money Management) is too dull, then you’re not emotionally ready for stable, consistent trading.
Funny enough, I still get frustrated when I don’t win consistently in demo because that’s proof to me I haven’t found my stride yet - which is somewhat disappointing
When there is no money involved in trading, you will obviously not care about losing anything. You won’t even get the exact feeling that comes when your real money is at stake.
With the help of the Demo trading accounts we can learn trading skills in a better way.
We can start using the Demo trading accounts so that we are able to fully understand about the present market risks.
yeah without demo trading i would'nt have a clue and would of given up on trying to trade along time ago
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