Topic: ㅤ - page 5. (Read 829 times)
I think its necessary because if you are going to use a specific platform and as a newbie, you should familiarize yourself first before you trade so having a demo account will allow you to access the platform, know the basic knowledge about buying and selling on that platform and when you're ready you can now trade on real time. I assume the moment you create your account for demo trading you already have knowledge on trading because Demo account is not created for that purpose, you should learn how to trade outside of that platform, like reading books about the charts or watching tutorials online.
Not that necessary but it would really be good if you do consider on testing out your strategies when it comes to demo trades or simply making out some backtesting out of your analysis
but if i were to say or recommend then better go live trade with lesser amounts.You would able to learn up because you would really be serious on dealing up with things
because you do know you are risking something unlike on demo that you would really a bit confident since you know that you arent losing anything.
Also it is totally different when it comes to emotional aspects.
When im starting to trade then i had tried out to play or trade with demo first and those were the times where i had decided to put or risk out on forex trading so that was before crypto trading exist where you can really learn with the basics and terminologies and the technical tools that you would able to use later on which is really that helpful but when it comes to fund management then its different because you do go all in and but if i were to say or recommend then better go live trade with lesser amounts.You would able to learn up because you would really be serious on dealing up with things
because you do know you are risking something unlike on demo that you would really a bit confident since you know that you arent losing anything.
Also it is totally different when it comes to emotional aspects.
once you busted your balance then you can simply ask out for replenish and thats the thing i dont like and i agree that you do get confident when you do trade which is different
so its up to ours if we would realize about the differences.
You know, with the fact that, demo simulations actually works in periperso with the actual market, practicing with a demo account is the best way to go. Though, the leverage on the account with respect to the amount of funds that is always avail to a beginner trader is often too huge and one mistake or error s to how a beginner manages his or her funds could be very disastrous when the beginner gos into the actual trading as most strangers when its really time to trade a real account are often less on capital and it would very much seem destabilise your choice for a lot size and the rest.
So, demo trade but don't be carried away by the leverage your already used yo.
So, demo trade but don't be carried away by the leverage your already used yo.
Not that necessary but it would really be good if you do consider on testing out your strategies when it comes to demo trades or simply making out some backtesting out of your analysis
but if i were to say or recommend then better go live trade with lesser amounts.You would able to learn up because you would really be serious on dealing up with things
because you do know you are risking something unlike on demo that you would really a bit confident since you know that you arent losing anything.
Also it is totally different when it comes to emotional aspects.
but if i were to say or recommend then better go live trade with lesser amounts.You would able to learn up because you would really be serious on dealing up with things
because you do know you are risking something unlike on demo that you would really a bit confident since you know that you arent losing anything.
Also it is totally different when it comes to emotional aspects.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
I quite agree with almost everything you said, but I will still say that almost everything runs down to mentality, I traded Forex before I got into crypto, and when I started with forex, I started with a demo account which I traded on for over 3 months before moving to a live account, I personally think that where people make the mistake is after getting out of demo, they falsely and unknowly assume they are already perfect and start a live trading with all their life savings, using myself as an example, I demo traded for over 3 months, and when I decided to go to live trading, I start with 10$ even when I had the opportunity of starting with above 50k$, I started with 10$, and after 4 months of trading, I was able to grow my 10$ to almost 100$, and yes, there were many mistakes and losses, but what's most important was that the profit was there too.
One thing I think that's very important that most people normally neglect is patient, most people are always in a hurry to start making plenty of money that they will be able to use to take care of their daily needs, and I think this lack of patience is what drives most people to loosing it all.
One thing I think that's very important that most people normally neglect is patient, most people are always in a hurry to start making plenty of money that they will be able to use to take care of their daily needs, and I think this lack of patience is what drives most people to loosing it all.
Well in the realms of actually considering learning about trading, then yes, it doesn't help much. It does, however, let you learn how the trading site works, as well as some simple ideas on what you can actually see on charts. Certainly doesn't help you in actually learning when BTC goes up or when it goes down, but it does help you from suddenly making a mistake by not knowing what a certain thing does.
What data can be obtained from the demo order book or from the demo chart? Right? False. Go to any demo account and see how the order book behaves and how the chart behaves. On the demo chart, have you ever seen the fake straits? By definition, they cannot be there. Because such things are organized by the exchanges themselves when they trade against their client. And on the demo exchange, everything is reproduced in neutral conditions, without any manipulations from bots or market makers. You will not see this on the demo exchange, but in the real market, at the first encounter with such manipulation, your knowledge gained in the demo mode will not help you.
Do not forget that the demo exchange and the real exchange are 2 different exchanges.
To make an analogy on what Ratimov said, it's like comparing high school to college, or college to the workforce. In my case, it was the latter, when I entered college I basically threw away everything I got from high school and started from scratch simply because there was a stark difference between how HS hit me and how college hit me. And just like other cases, transitioning from college to the workforce isn't exactly an easy experience, heck some people can go straight to the workforce (which is imo, much ideal especially now with how you can learn everything by yourself).
No. For example, if you test your new strategy under demo conditions, how the knowledge and data obtained can be false?
What data can be obtained from the demo order book or from the demo chart? Right? False. Go to any demo account and see how the order book behaves and how the chart behaves. On the demo chart, have you ever seen the fake straits? By definition, they cannot be there. Because such things are organized by the exchanges themselves when they trade against their client. And on the demo exchange, everything is reproduced in neutral conditions, without any manipulations from bots or market makers. You will not see this on the demo exchange, but in the real market, at the first encounter with such manipulation, your knowledge gained in the demo mode will not help you.
Do not forget that the demo exchange and the real exchange are 2 different exchanges.
legendary
Activity: 2478
Merit: 4341
eXch.cx - Automatic crypto Swap Exchange.
I haven't demo traded with a cryptocurency exchange before so don't know what privileges they offer but when I was into forex (before I discovered cryptocurency) I used the MetaTrader demo account, the funds available to me made me misuse that privilege and was taking risk that I knew won't affect me even though the market goes against me.
Trying that with my live account taught me life lessons as I would had lost all my invested capital if not for the stop lost option. That been said, I just have to go with the option of not buying into the idea of demo as it'll make you relax and less concentrated especially as it's risk free although I understand how importantly a demo account can be for users without much capital at hand to risk.
Although if you want to get the real feeling, throw in some few bucks and learn with the live account, I bet you'll be more motivated when you see the potential of losing that funds if you don't get your analysis right.
Trying that with my live account taught me life lessons as I would had lost all my invested capital if not for the stop lost option. That been said, I just have to go with the option of not buying into the idea of demo as it'll make you relax and less concentrated especially as it's risk free although I understand how importantly a demo account can be for users without much capital at hand to risk.
Although if you want to get the real feeling, throw in some few bucks and learn with the live account, I bet you'll be more motivated when you see the potential of losing that funds if you don't get your analysis right.
Seriously demo account is not really bad to learn how to trade atleast you will have enough experience on how cryptocurrency work, must people just believe if you start trading you start making money they don't know you can also lose your money they don't know there is risk attached to it, they don't believe they can lose money but demo account will really help them to know that cryptocurrency is all about profits and lost not only profit always. You can easily learn how to trade without losing money with your demo account.
It will depend on different people.The less knowledge people surely need the demo account.So they won't lose their real money.We all know,it hard to earn money in this money.Additional we can earn money only from the trading,in this pandemic.This is right time to get into full time trading and day trading.You can earn more from this day trading.
this can turn out for them, at least, a waste of time, and at most, a loss of funds due to false perception and skills acquired on a demo account.
Different people will have different opinion but something must be better than nothing; so having demo accounts will help to get some basics of trading before touching live markets rather than directly entering to crypto trading. This can be demonstrated like this: demo accounts may not guarantee you any profits but definitely will help you to manage your emotions and risks for the same markets (means practicing in forex markets and then trading in crypto markets will nullify the point of demo accounts).demo account teaches you false skills or does not instill them at all.
No. For example, if you test your new strategy under demo conditions, how the knowledge and data obtained can be false? 
AFAIK some exchange/website provides this demo thing for free. Some bot also allows you to test your trading method with backtesting on exchanges data. I agree that the point is to get experience and make yourself get familiar with how trading works and its psychological burden. The point is you need experience, and if there's no demo trading platform to help you learn, might as well use $100 or so to trade (assuming losing that amount of money is fine with you). But it's quite difficult to do that, since most exchange usually put a minimum trade value, which can get quite expensive if need $20 per trade.
TA (technical analysis) or FA (fundamental analysis) is not enough to become a successful investor or trader.
Price actions and understanding on the psychological and market reactions are more necessary and more important than TA or FA analyses. Without the experience and ability to control your emotions then decisions, any analysis is useless. Because investors or traders will get rid of their plans and fall to FOMO or panic.
Demo trade can help them with test for the accuracy of their TA or FA analysis but not for emotional, psychological control & reactions.
Sum up, my answer is No.
Price actions and understanding on the psychological and market reactions are more necessary and more important than TA or FA analyses. Without the experience and ability to control your emotions then decisions, any analysis is useless. Because investors or traders will get rid of their plans and fall to FOMO or panic.
Demo trade can help them with test for the accuracy of their TA or FA analysis but not for emotional, psychological control & reactions.
Sum up, my answer is No.
yes in my opinion this is very important so that beginners can interact with demo trading first. To be honest, demo trading teaches all of us to get to know a feature one by one, and how to use it over and over again. So that when you are familiar enough with the exchange, you will no longer be surprised by its trading features.
there is no harm in learning from demo trading. especially if there you get new knowledge.
because the important point is new knowledge.
there is no harm in learning from demo trading. especially if there you get new knowledge.
because the important point is new knowledge.
- As a construction of your money management and risk management. 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.
I used to compare this with console games.
With offline games there is a "save point". That means when you die you can just load that saved game and bring back all the items that you once lost from dying.
With online games, that's not possible because there's a server that saves every second of your move. Only the owner of that server can manipulate it and may roll back into what time you still have the items.
This goes with trading too. With demo account you are willing to sacrifice everything because you know there's a "save point".
The problem is, what if you got used to that perspective and habitually done the same thing over and over. From losing more, you also lose the "will" to continue trading and that sucks.
I learned the hard way by trading directly with little amount. Thankfully, I have a little background with commodities trading.
Jump to: