Demo account - page 2. | Bitcointalksearch.org

Issa56

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials

When you open your social media, you are going to see a lot about trading on the social media. Most of the videos that you will be seeing are the ones that teach how to trade and how people can easily make money from trading, so beginners that see videos like this will think it’s true. They don’t always know that there are risks involved in trading, and there are things you should know before you start trading.

Signal providers are always making everyone think trading is so easy and people can make money from trading without any risk, but all of those people just want you to pay for their signal groups and nothing left. If you pay immediately they start giving wrong signals, then you will come to know that you have been scammed.

Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

You can be trading with a demo account, and you will think you understand it all, but once you switch to a real account, you are going to start losing. It happens to me so many times, so making a profit when you are using a demo account doesn’t mean you won’t lose money when using a real account.

jrrsparkles

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Quote from: Assface16678 on May 17, 2024, 02:13:30 AM

For example, being reckless in demos, as you know you are not going to lose money in demo accounts, you might develop the trait of being too reckless. It can't be done in live trading because one wrong trade might burn all your funds. Treat the demo account like you are trading live.

This is the reason why newbies should not start with demo trading accounts instead they can start with small capital like $50 or 100 or whatever the amount feels nothing to lose that may not bring complete emotions like intense trading decisions but it's a lot better cause it's real money so when you lose you feel that you need to do something about it and that's how we can master the emotion management while doing trading.

Coin_trader

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Demo account is good for testing and back testing your trading strategy. But using it just to experience trading especially newbie traders doesn’t make it impactful since you will just trade carelessly due to the fact that you are using money while real trading includes pressure that makes trading experience much different than demo account.

I didn’t experience using demo account when I’m newbie. I just deposit small amount of money as capital during my newbie then increase the amount as my experience and skills progress that gives me confidence to invest more.

Bulltard

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another spammy shitty thread from emmy.
he/she creates the thread then never posts again in it, probably because he/she can't speak english.

wen ban?

SamReomo

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If you want to learn that how trading works then using of demo account isn't bad but if you want to be a good trader who might get profits from trading then I highly recommend you to avoid using any kind of demo accounts.

Begin your trading with a real account but in start you may deposit a small amount, and then increase it overtime. Try to make very small trades at first and only increase the value of your trades when you develop a good trading strategy.

bittraffic

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Just when they learn how it works, I think they should risk some money even just the minimum amount they have just to know the risk and will make them do their best to win a trade. Because this is how a trader will learn. Sometimes they learn to just Hodl or learn to trade more and accumulate in the spot market. Or if they go advance I guess the futures market.

Assface16678

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Quote from: jrrsparkles on May 17, 2024, 01:59:05 AM

Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Demo account isn't for that purpose and can't serve that purpose either, it is there to get familiarize with the trading and most often its for the advanced user to try their strategies before going to the actual exchanges. If you don't want to lose your money then stop looking into the social media for becoming rich cause no one is there intend to make others rich other than themselves.

I think that's what the OP is saying; it's just that he didn't put nice words or a clear sentence, but you and the OP have the same statement. Anyway, demo accounts or demos are sometimes ignored by newbies in trading. They are thinking that it's a waste of time to do demos are sometimes ignored by newbies in trading. They are thinking that it's a waste of time to do demo accounts; instead, they will go straight to live trading, and that's when they will learn the lesson in a hard way. You see, demos exist so that a trader can do experiments and try the things that he has learned over time.

But of course, remember that you should not be too comfortable doing demo trades because you might adopt things that you are doing in demos that should not be done in live accounts. For example, being reckless in demos, as you know you are not going to lose money in demo accounts, you might develop the trait of being too reckless. It can't be done in live trading because one wrong trade might burn all your funds. Treat the demo account like you are trading live.

jrrsparkles

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Demo account isn't for that purpose and can't serve that purpose either, it is there to get familiarize with the trading and most often its for the advanced user to try their strategies before going to the actual exchanges. If you don't want to lose your money then stop looking into the social media for becoming rich cause no one is there intend to make others rich other than themselves.

doomloop

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Yeah, most beginners make the mistake of rushing into the market and starting trading without any knowledge or understanding of what they are getting into and what can be the consequences of their actions. They don't understand that knowledge is the first step they need to take before they get their hands into actual trading because you can't achieve success if you don't know something you are getting into.

Demo accounts are useful, especially for those who have already done a lot of research and learning but are still unsure of their skills and understanding of things such as candlesticks, indicators, etc. They can use demo accounts to practice trading before they start trading with real money, this will give them an idea whether they have learned everything and can start trading or they need more practice.

Bananington

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Demo account is not only meant for beginners, Old traders can also use demo accounts to try out a trading strategy. In the same way that it would help a new trader not to lose money to the market, demo account can help old traders who want to try out new strategy in the market without losing money to have a way to practice it. If you are demo trading as a new trader, it is a good way to practice trading, but do not demo trader too much and for too long.

batang_bitcoin

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Yes, that's the use of demo accounts and those that don't want to take risk with their actual money can do this option. What you guys need to do is to make yourself comfortable that whatever you learn in demo accounts, you will apply it with actual trading. But here's the catch, it's actually a different experience when you do the actual thing with your real money. Sounds plausible as you do it with demo but it will move you and your emotion when your money is at risk when you're on the actual trades.

benalexis12

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Many times I have seen a topic like this that never ends and just keeps repeating itself. But anyway, the demo is just a feature on a platform to give you an idea of how to use what you want to try to do an activity like trading.

But this is not an assurance to say that you will make a lot of money here, because any newbie who enters crypto trading still needs to have knowledge of any exchange they want to enter.

goaldigger

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Demo account serve it’s purpose, and that’s to attract traders on the exchange platform and seriously, the chances of earning more in demo account are high simply because its uses is more about getting that trader into the platform. Well, this is a good training ground at first but sooner or later once you take the risk to trade in the real market, that’s where the real lesson comes it. As a trader, you have to lose some so you can learn the lesson.

Rockstarguy

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Using demo account as a beginner is good but when you go into the main trading you would see that demo account is different when you go into trading properly. In the main trading you need more understanding of the market because you are dealing with real money. In demo account even if you lose you won't feel anything but in trading when you lose you get a different reaction.

Their is more to understand I trading which you can't find when trading with your own money. In demo account you may not exercise patience like it should be required in the main trading . Don't just rely on demo account, try to understand trading more and learn to apply the characters which you need to become successful.

Ruttoshi

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Practicing trading with a demo account does not mean that you have learned trading. It is only showing you how trading looks like. For you to start with real account it is better that you learn the fundamental analysis and technical analysis of trading in order for you to be able to male your decisions in a trade.

However, if you want to trade, it is good that you use only the amount of money that you can afford to lose and don't think that trading is a get rich quick scheme. When you use a demo account, it is not going to be the same with what you will see in the market when using a real account to trade.

milewilda

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Everyone starts on being a noob, the only difference on here is that theer are really those individuals who are really that too delusional or really that too confident that they could really be able to learn up trading in a short period of time on which they arent really that even trying to make themselves that being too realistic that its never been that simple in the first place. You would be able to realize those things on the moment that you would really be able to find yourself on a tough situation or you have caught yourself on the peak. People wont really be making out those realizations not until on the time that they would be able to experience those things. Although there would really be those individuals that will really be that too careful on the things that they've been dealing off with and made out their assignments well and able to done those things accordingly.
Although it might be not perfect which is understandable but the level of risks isnt the same into those people who carelessly making their actions.

348Judah

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Quote from: Emmybit001 on May 16, 2024, 10:25:19 AM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

We can at least begin from somewhere, using a demo account is not a bad idea, it will only help us to have an idea on what trades may look like, but when we are into trading on real time and our money is involved, we need to understand that we can only trade by starting with the little amount we think we can afford to risk on trades and with that, we continue to gather experience and gradually increases the amount till we have the best acquisition of knowledge on trade whereby we can afford to trade with any amount.

BitMaxz

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Trading without trying your skill is pretty risky I've been there at first I thought that I knew Bitcoin but when trading on live trading with money I feel fear and sometimes greediness and the result of every trade I make are loss instead of a profit.
If you want to overcome greediness and fear you should always need to practice on a demo account to build confidence and also to test your trading skills and strategy if you feel that you are ready and the strategy you tried is working on a demo account you can start trading on live trading with a small account and don't forget the risk management when trading on futures.

Just want to share these for those who want to test their skills you can use Tradingview paper money and a demo account on OKX.

Oshosondy

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Even if you use demo trading account and you make money from it, do not deceive yourself because it is not still about trading with your own money. Trading is about trading with your own money. You can start with demo but use the amount of money that you can afford to lose when you start trading with money.

Emmybit001

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There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

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