Topic: Demo account (Read 236 times)

Exactly, therefore for those who are new they will need a demo account to learn how to trade properly and correctly. It is not easy to have that kind of experience. Trading has very high risks and as you have said, the assets we have on the exchange have the potential to be lost if we make the wrong decision.

Yes it is essential but you need to go into a process. You need first to know your trading system, pattern, and narrative better than anybody else. Not only how the market book or trade but specifically how can you trade in different market conditions. In this phase, you are going to lose a lot because you are learning. Accept that. In order for you to not lose any money, it is beneficial for you to use demo trading instead.

After this phase and then you feel like you're ready, then put small amount of money that you can focus now about your trading psychology.

god advice but beyond this is much more work that should be done in order for the trader to be come profitable enough gambling but then some beginner traders allow the things they see on adverts made by some of the brokers and trade influencers online and they just want to rush into it without trying to making sure they are able get as much knowledge needed and required of them to be able to win their trades and remain profitable as a trader they would want to be, some of the influencers have actually put in years of hard work and a beginner shouldn't expect to start making money almost immediately they venture into trading already.

Demo account should be mostly to help traders test their strategies and perfect it well enough such that they will be able to apply it in the real market without having their emotions interfering with their trades, the demo account can as well help them master their emptions and how to get it under control while trading their real account but then its not ideal to stay too long on your demo account as it was meant to be mainly for practice and not to stay so long on it as that way you wouldn't be able to really get profits on a demo account.

Social media is one of the ways someone will follow and get misled easily. Everywhere in social media, there are just a few people bringing different stories about how they are making money in the crypto industry, especially trading, so whenever those who have never understood about cryptocurrency think about it that easily and rush into trading, and the day  they end up losing their funds, they will start avoiding currency in general. 
 
What I expected from any beginner who is interested in trading is that he or she should give itself enough time to study well about trading so they can understand trading properly. Trading is not easy, and even those who have good knowledge about trading always lose some of that. But with good knowledge of trading, I am sure you will be making good profits from trading, even if not all the time.



Yes, practicing trading through a demo account is also a good way to learn trading, but the truth is that if you are doing well in a demo trading account, that is perfect so that you can trade with a large amount of money. Even when you are doing well in a demo account, I will advise you to start with a small amount of money. There is a probability that you can lose when you turn to real trading; sometimes trading also includes lucky

Yes demo accounts are a very good option for new traders as they can learn alot by trading with demo accounts. But most of people waste the account only in fun so don't do that.

Try to word hard to gain all the skills you can from different platforms. Once you are confident enough that you can now be a successful trader and your skills are polished enough only then test your skills with demo accounts.Take them seriously.

The stuff that you're talking about, you will eventually learn about it when you do demo trading since it follows the real market, the only problem that I can see with demo trading is the unrealistic amount of funds, you can't really take it serious as a way for you to practice when you have a starting money that's larger than your current net worth, maybe you can do it there but I don't think it helps. Books or stuff that teaches FA and TA aren't that rare to find on the Internet nowadays so I'm not really sure why it's a good idea to focus on this two when you can learn it altogether with trading anyway.

If you're not risking big and you're playing it safe in trading, you will definitely not get rich when the time comes, at first time or first months of your trading, this advice might work but when you further understand how to trade, you'll eventually going to have to learn how to risk more money that would expedite your money making journey in trading.

Before deciding to trade, of course every beginner must have prior knowledge about trading so that they don't make mistakes that cause loss of funds used in trading and it would be better if someone could guide them so they can trade. do not make mistakes in their attempts to trade. and if there is something they don't understand well, of course they can ask their friends.

Trading on a demo account will of course be very different when they trade using the capital they have, so the most important thing for beginners is of course to understand trading science well before trying to trade using the capital they can afford and if they can afford it. Failed on the first try they can still learn and try again after knowing their mistake.

Demo account is not bad to start with as a new trader but just keep in mind that staying too long in demo account can make you not to learn how a real market works perfectly. I’m taking about emotions here, it is an integral part of the market that needs to be learned also before you can be successful in the market. Emotions are not tempered with when it comes to demo account, but in real account, you can tell well if you’re perfect at trading and can hold some trade longer as it should be or will be frightened to close a market when you start to see loss on that account. There’s a huge difference between demo and real account, don’t get too comfortable with demo account and have plenty hope to be perfect in real account just when you’re done practicing with demo account.

You have a point because as far as I know, old and traditional traders when they started in crypto, didn't have this kind of advantage on using a demo account. We just go and learn everything by going full trading in our first day and learn everything from experience and what not and that makes this trader really battle tested as they have to start from ground up before this demo account and bots that has been prevalent since 2018 if I'm not mistaken.

Nothing is wrong with using demo account, but as I have mentioned, the real test is really playing with real money and then making the correct (or wrong decision) during your trading experience.

Learning trading on demo account is not really necessary to a newbie who wants to trade.The truth of the matter is as a newbie acquire the essential skills on trading and start with what you can afford to lose.A friend on mine that's into forex trading, started with a demo account and when his faced the reality that was when he knew he had been playing with demo.

In fact, demo account is the best way to teach trading to newbies. But not only in the demo account, they need to understand well the information related to different types of trading in different places online. Trading can't be done with money first, they should understand the risk of trading first, trading without skill is very risky, most likely to lose money. So first understand well about trading, Trade on demo account, be skilled and then trade with money.

I've used a demo account first to recognize crypto trading and it's not once or twice that I use it as often as possible, believe it or not, a demo account does not guarantee you real profits in crypto trading.

The demo is only limited to you understanding how to process activities in trading, you cannot guide the demo account, in my experience I try to trade with small amounts of money and understand market conditions before or when I want to trade crypto, You can achieve crypto trading with the experience you have and one more thing, use the services of crypto trading experts before doing it, they know when and what type of crypto is worth trading.

Well not to bust your bubble or anything but sometimes even the demo account trade can be alot tricky for the newbie trader because sometimes luck can be on your side and maybe get some wonderful positive trade session and because of these wins, you thereby take positive decision to actually fund your real account whereas you know yourself that you aren't certain or even master the act yet but due to the demo wins you convince yourself and fund your real account and that's why the whole shit gets messy.

Right, trading isn't for everyone and those that can't take risk and accept to lose money when they start to trade. They're going to lose that much money on it. So, exchanges having the free accounts or demo accounts is a big thing for those that don't want to trade with real money yet. That is giving them the option to trade and test their strategies without having to burn their money.

If someone realizes that trading isn't for them, they have to recognize that as soon as possible for them to have no troubles at all. Because if they try hard and they're going to set aside their feelings, they'll save themselves from losing a lot of money. But no one is going to stop them from trying because trading is for everyone and everybody deserves to test themselves if they are for it or not.

A demo account is good for people who are beginners in trading. so trading on a demo account will provide a trading experience even though it is not with real money. but it provides knowledge related to how exchanges work and some functions in exchanges. beginners need to know it all before trading.
Even though the adrenaline you get will not be the same when trading with a real account, when beginners learn trading techniques and strategies, they can try it on a demo account. it's free and there's no harm in using it.

If anyone wants to know what questions should be asked before trading and what should be kept in mind, then he can use Demo account. But no one can learn risk management using demo account, he must use real trading.  And only then he can learn trading well. And in the case of trading, everyone must accept that they can lose at any time. Therefore, instead of using leverage trading, it is better to start trading in spot trading and when he gains a lot of experience, he can do future trading on a small scale.

Having a demo account for trading is also part of learning for beginners and is something that should be tried if a beginner still doesn't really understand trading. But apart from having a demo account for trading, a beginner still needs to read several methods that already exist on the internet to further solidify their knowledge before actually trying them on a real account. Likewise with the amount of trading capital, there must also be special consideration so that you don't experience excessive difficulties when you still haven't made a profit through trading.

Trading is actually not for everyone, and trying with demo account can give you an idea of it it is for you or not without you loosing money in the process of discovery. It can be an indication that trading is not for you if you are finding it really difficult to understand the basics of how it works. But before you come to this conclusion, make sure that you have tried your best to understand trading and the dynamics, do not just quit trying to learn and understand at the first attempt.

It is still demo account though, the looks might be the same with the production or real life trading, but still you are not trading with real money and so you might really be feeling be confident when you sit down and try it.

And with that, you really have to be very careful as well and not just what you call "stick any amount of money" right away. You really need to learn using real money but don't push yourself that just because you do demo account and you did really good, you can replicate it right away on the real trading floor.

Demo account is a good way for you to get the feel of trading but it seems that have wrongfully presented it and if I recall correctly, demo accounts have a set amount already and you can just do a reset on your funds if you're doing it wrong, I don't think that it's going to be the right thing to buy demo account money with real money, you're better off just trading straight away if that's going to be the case.

That's not true, where did you get this conclusion? Also wouldn't this be a smart thing to do when you're on a demo account because you basically got nothing to lose so going crazy to see what would be the result is a valid thing that you can when you're trading using demo accounts. You can certainly treat it like a real trading but what's the harm in doing the reckless, you're going to learn more if you make mistakes intentionally and try to analyze those mistakes.

And now you're teaching them to lose money when there's an opportunity for them to learn trading without the worry of losing anything besides their time using that demo account. Maybe $50 or $100 means nothing to you but you have to understand that, your value of something that you think is a negligible amount is probably a bit out of touch for some reason.