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crzy

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Quote from: Rruchi man on June 18, 2021, 05:09:44 PM

Just as life is in stages that you cannot just get into the College without passing through high school first, so also it entails for trading. The importance of demo trading for beginners first cannot be overstated. Because money is involved, jumping straight into a live trade after one has just learned the theory aspects of trading will certainly mean that he/she has signed a deal to start loosing money from day one, and most definitely, discouragement will set in and one might quit.

A demo account is a platform to practice and prepare yourself for the real trading world.

We really have to try first using the demo account so you can know how to operate in the market because newbies will always have a question in mind and if you read more details about trading it doesn’t mean that you already understand the market. I believe on using demo account first before your actual trades, this may be look boring or a waste of time but you can surely learn from this.

Rruchi man

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Just as life is in stages that you cannot just get into the College without passing through high school first, so also it entails for trading. The importance of demo trading for beginners first cannot be overstated. Because money is involved, jumping straight into a live trade after one has just learned the theory aspects of trading will certainly mean that he/she has signed a deal to start loosing money from day one, and most definitely, discouragement will set in and one might quit.

A demo account is a platform to practice and prepare yourself for the real trading world.

Traderbtcc

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Quote from: zanezane on June 08, 2021, 07:27:03 AM

If you don't have the experience needed for trading, I think that you can use demo trading, plus you can always make a lot of mistakes in there without losing money and at the same time learning from it.

True, demo trading still helps alot, I remember during the early I started trading, I was using a demo account and it helped me out alot cause I was able to test different trading strategies without losing a single dime and it was freaking awesome, a noob in trading shouldn't be testing their trading technics in a live market, demo is the best place to test and learn more of how the market works, before using a real account to trade.

geegaw

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Quote from: Vaculin on June 18, 2021, 08:43:46 AM

Quote from: ?? on ??

demo account will really usefull for beginer trader,we can test our strategy, mental or trading system. in demo account we make good trade and result but it sometimes it doesnt work at all in real account. mental and psychology will different when we use demo account, but atleast we will find best system that suitable with us.

Though we can go directly to the actual trading, It gonna be more advisable to have a demo account before starting. Not only it gives us an idea of how to make a trade but also it helps us to familiarize ourselves with a certain platform that we are going to use. This a sort of trading preparation and the benefits we've got from using the Demo account will help for better results.

To be able to participate competently and without wasting extra time and asking more basic questions, even problems that may be confusing and arise behind the scenes of directly participating in the actual trading, we should start from the account demo, after completing such basic tutorial tasks, we will not need to come back here looking for answers about some strange documents or tools. The demo may not be a perfect description for the real battle but it does have the basis for newbies to absorb and add weapons to upgrade.

carlfebz2

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Quote from: Vaculin on June 18, 2021, 08:43:46 AM

Quote from: ?? on ??

demo account will really usefull for beginer trader,we can test our strategy, mental or trading system. in demo account we make good trade and result but it sometimes it doesnt work at all in real account. mental and psychology will different when we use demo account, but atleast we will find best system that suitable with us.

Though we can go directly to the actual trading, It gonna be more advisable to have a demo account before starting. Not only it gives us an idea of how to make a trade but also it helps us to familiarize ourselves with a certain platform that we are going to use. This a sort of trading preparation and the benefits we've got from using the Demo account will help for better results.

Demo trades are good for familiarizing platform tools and terminologies but it isnt really that necessary since you can learnt it up all directly even if you dont make out some demo trades.

When im just starting to trade where i do directly put small amounts directly on binance as far as i remember and of course using up that beginners and dont go for advanced.

You would eventually learn it up as long you do make longer trades day by day.It depends on how someone copes up to trade because not all would
really be that fast learner on getting everything in a short span of time.So it depends on how fast learner you are.

Vaculin

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Quote from: ?? on ??

demo account will really usefull for beginer trader,we can test our strategy, mental or trading system. in demo account we make good trade and result but it sometimes it doesnt work at all in real account. mental and psychology will different when we use demo account, but atleast we will find best system that suitable with us.

Though we can go directly to the actual trading, It gonna be more advisable to have a demo account before starting. Not only it gives us an idea of how to make a trade but also it helps us to familiarize ourselves with a certain platform that we are going to use. This a sort of trading preparation and the benefits we've got from using the Demo account will help for better results.

shield132

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I'll state my opinion

As I gain more and more experience, I understand that for newbies, trading with demo account is really just a waste of time. When you trade with demo, you don't experience any pressure and anxiety and do the things that you wouldn't really do if it was your money. You are careless with demo accounts.

As OP suggested, it's better to create account and deposit some bucks. Hm... It's better but not the best. Depositing some bucks is a good way for you to get familiar with exchanges, spot/margin/futures trading, leveraged tokens trading, etc. But when you deposit $1000 and don't play with bucks, situation changes and you feel very nervous/anxious with every step. That's where a lot of traders lose and fail. But wait, this can learn you a lot of things. You learn and understand a lot when you lose. When you win, you are captivated with the rush and don't think about anything, don't think why it was a right move, etc.

So, I suggest if you are seriously interested in trading, start with some bucks to get familiar with exchanges and services/features, then risk some money that you can afford to lose (look at it like a $$ that you have to pay to gain knowledge). You need to fall to rise, trading always reminds me Phoenix.

target

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Quote from: vanessacummings on June 18, 2021, 05:28:50 AM

There is nothing such as the necessity of a demo account for a beginner in trading. Even experienced traders can use a demo account from time to time.

These accounts are used to understand the dynamics of trading in real-time without the involvement of real cash. Using the demo accounts instills confidence in the traders, especially the newcomers for carrying out successful trading transactions in the future. Moreover, these platforms can be readily used for trying out new strategies and exploring different market options without experiencing any loss since no real cash is involved

Several brokers like turnkeyforex, forex.com, and others offer demo trading accounts to users that can be helpful.

It's only the metatrader that could provide a demo account but when you really are in crypto there is no test drive there. And you don't feel the thrill when you have it in mind that you won't be losing anything if you lose a position. There is nothing that will encourage you to learn when there is no risk.

In crypto, you should just start trading on the spot market to feel the risk. Some of the traders learned it all too well that they made it with leverage.

vanessacummings

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There is nothing such as the necessity of a demo account for a beginner in trading. Even experienced traders can use a demo account from time to time.

These accounts are used to understand the dynamics of trading in real-time without the involvement of real cash. Using the demo accounts instills confidence in the traders, especially the newcomers for carrying out successful trading transactions in the future. Moreover, these platforms can be readily used for trying out new strategies and exploring different market options without experiencing any loss since no real cash is involved

Several brokers like turnkeyforex, forex.com, and others offer demo trading accounts to users that can be helpful.

zanezane

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Quote from: Shasha80 on June 08, 2021, 07:48:39 AM

Quote from: zanezane on June 08, 2021, 07:27:03 AM

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If someone underestimates demo trading, it means he doesn't understand the benefits of demo trading. As you have already explained that demo
trading is used to gain trading experience without losing money. Apart from trading knowledge, we also need trading experience to become
successful traders. And we can get trading experience with demo trading, I have spent a lot of money to get trading experience. Since I started
trading in 2017, I didn't know there was a demo account that I could use to learn to trade without using real money.

Exactly what I am saying, I am pretty stoic with my stance that demo trading is helpful for beginner traders because of the risk free nature of it that can help you commit to things that you will have doubts because you might lose money from it.

Shasha80

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Quote from: zanezane on June 08, 2021, 07:27:03 AM

If you don't have the experience needed for trading, I think that you can use demo trading, plus you can always make a lot of mistakes in there without losing money and at the same time learning from it.

If someone underestimates demo trading, it means he doesn't understand the benefits of demo trading. As you have already explained that demo
trading is used to gain trading experience without losing money. Apart from trading knowledge, we also need trading experience to become
successful traders. And we can get trading experience with demo trading, I have spent a lot of money to get trading experience. Since I started
trading in 2017, I didn't know there was a demo account that I could use to learn to trade without using real money.

zanezane

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If you don't have the experience needed for trading, I think that you can use demo trading, plus you can always make a lot of mistakes in there without losing money and at the same time learning from it.

justdimin

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Quote from: Symmetrick on May 31, 2021, 09:06:16 AM

As a construction of your money management and risk management.[/b] I often read posts on this forum with the following content: .... on a demo account, you can trade without fear, you still won't lose anything, because you can start over and train every time. But what will you train there? The ability to start over? Undoubtedly, exchanges love such traders. But that won't work for you. It is precisely that on a demo account with a similar approach, you will not develop anything, nor any risk or money management you will master there.

This point is important. While you learn the management of funds and various other things but you will never have the same tension as you would have in real trading.

You consider betting with virtual money on sports, you will enjoy the gambling but when you do the same with real money you will feel tense and that is exactly what happens in trading, when your life savings are put on the line and your portfolio is dropping, you will always feel the pressure and will be under the pump which forces out mistakes.

I am not saying demo trading is not worth it, but at times you need real trading experience to cope with the real tension. Playing video games and boxing in games doesn't prepare you for real boxing match

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LUCKMCFLY

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Quote from: Maslate on June 07, 2021, 09:47:40 AM

Quote from: cheezcarls on June 07, 2021, 08:14:51 AM

In my own opinion, this is suitable for those who are still afraid in taking small risks even for just a few bucks. It’s kinda a training ground for them in getting familiar on how volatile the market is when they are going to use the demo funds in the trading simulator or so. It’s still helpful though for them though, but it’s way better to do actual trading with our real funds.

I think it was normal for us to make some trials before we start for real trading. I did it before and it was a big help but it is actually more different when we are in actual trading in which you can certainly feel when you lose and when you win. But it has to say that more experience more learnings, I think having these demo account for practice gives us some hints of what we gonna do.

Well in my personal experience, it helped me a lot to make a demo account, especially to test my strategies, in my plans they rarely worked for me and I really felt that I protected myself from many bad operations and therefore from losing money, Of course, I really wanted to trade with real money, but I managed to be patient, until little by little I felt the security of doing real trading, and I learned very well about all the Exchange tools. It is also necessary to emphasize that most of the times the demo account tend to make the person win quickly and feel safe to do real trading, the important thing is to know how to handle that emotion.

Maslate

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Quote from: cheezcarls on June 07, 2021, 08:14:51 AM

In my own opinion, this is suitable for those who are still afraid in taking small risks even for just a few bucks. It’s kinda a training ground for them in getting familiar on how volatile the market is when they are going to use the demo funds in the trading simulator or so. It’s still helpful though for them though, but it’s way better to do actual trading with our real funds.

I think it was normal for us to make some trials before we start for real trading. I did it before and it was a big help but it is actually more different when we are in actual trading in which you can certainly feel when you lose and when you win. But it has to say that more experience more learnings, I think having these demo account for practice gives us some hints of what we gonna do.

michellee

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A demo account will not be a problem for a beginner trader because that can help them know what trading is and learn about the command to trade. If they can learn more from many sources, they can learn directly from the demo account to know how to trade and when they use the real account in the exchange, they will have more chances to make a profit. It can help them to try many strategies to trade before they use their own money to trade. If they can improve their skills in the demo account, they can prevent the loss because they can improve their strategy with the current situations in the market.

blackened515

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Absolutely yes, it's very necessary and important for a beginner to practice demo before tackling real trades, the demo account builds so many things in the newbies, anxiety, fear, and many negative psychology are what demo account helps, most of the advance traders today started from using demo account and it helps a lot in building your mentally, trading is not things of the weak because it had led to so many suicidal occurrence.

cheezcarls

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In my own opinion, this is suitable for those who are still afraid in taking small risks even for just a few bucks. It’s kinda a training ground for them in getting familiar on how volatile the market is when they are going to use the demo funds in the trading simulator or so. It’s still helpful though for them though, but it’s way better to do actual trading with our real funds.

enawati

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Yes the psychological level when trading on a demo account and on a real account is very different, so if we want to learn margin trading, first it is better for just a few days do it on a demo account, then go straight to a real account with a small deposit on a micro account. And micro accounts available on several forex brokers, such as FX OPEN. The first important thing in trading, is to use the transaction lot according to the trading balance, like only using a stop loss of 1% of the total balance, so that if we lose consecutively in 5-7 trades, then we only lose 5%-7% of the balance, and this will not make affect for trading psychology and we can trade again without bad psychological conditions.

tygeade

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Quote from: goldade on June 04, 2021, 03:07:47 PM

I believe it is very important and necessary to practice trading with a demo account as a new trader. You get to explore strategies without the risk of losing any money. You can test strategies and know which works best for you.

Yes, one should acquire basic trading knowledge via demo trading accounts which helps in reading charts, how to implement indicators and you can also test various signal providers and make a list of good ones and later use them when you trade.

Quote from: goldade on June 04, 2021, 03:07:47 PM

it would be unwise for a trader to believe demo trading is all there is to trading. I believe it's necessary to also practice trading with some amount of money one can afford to lose. That way, one would be under the pressure of losing money and that would prevent one from making unnecessary and irrational trading decisions.

Demo trading accounts are just meant to teach you various features like stop loss but you need to trade with money to acquire skills like how to avoid panicking. One should learn with demo trading accounts and once they feel they are ready for trading, start with 1% of your actual capital and see how it goes for a few weeks at least. Once you are regularly profiting and feel capital is lacking, it's time to GO!

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