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isaac_clarke22

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Quote from: FanEagle on June 27, 2021, 04:50:47 AM

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You got a point actually as from what I differently said here in the thread not that long time ago.
It would be like testing the waters first in your demo account.
Personally me? I never did a demo account when I was still starting up in my day trading and surely it went really bad for me making me instantly quit it and just go for long-term investment.

FanEagle

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Quote from: Oilacris on June 26, 2021, 10:53:24 AM

when you are just starting up or trying to familiarize everything, it isnt necessary to be all but it would really be helpful into your career on knowing even with the basic terms and indicators which you would really be encountering everyday.

Yeah, there are multiple benefits a beginner could enjoy out of demo account rather than directly kicking off with real account. People are always concerning about emotional thing in demo practice but only just because of that, we should not downgrade the purpose of going for demo trading.

Demo trading must be very good for testing all your strategies and technical parts. To get familiarize all the market environments, I believe we cannot get anything better than demo trading.

These days people are working hard to get "likes" on instagram/tiktok, similarly why not we put all our efforts to increase those fake money so that we could gain the actual experience of trading? It is all about how you are approaching. If you treat your trading more valuable like it could support you for leaving then we will start with the demo trading like how you are going to be caring your live trading in future.

Nothing will come to day-to-day routine suddenly; first you need to practice, for that demo will help you definitely.

geegaw

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Quote from: john_nautica on June 26, 2021, 11:54:29 AM

Yes, it is of course necessary to have a demo account for beginner traders. By doing so, traders can be guided on what to expect in the real deal, have an actual experience to familiarise how trading works and apply all that insights from the research done.

More emphasis should be placed on real experiences and methods of working as a real account in the demo system because these are the parts that beginner traders would love to skip, more precisely, the demo system has the disadvantage of providing too much virtual money for one account, such support is extremely good but too good becomes impractical and loses the market's difficulty, so beginner traders need a few small adjustments in capital, not too much and in line with official capital.

john_nautica

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Yes, it is of course necessary to have a demo account for beginner traders. By doing so, traders can be guided on what to expect in the real deal, have an actual experience to familiarise how trading works and apply all that insights from the research done.

Oilacris

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Quote from: maisao1991 on June 26, 2021, 10:43:38 AM

no matter anyone when using something new we need to learn how to use it and in trading too, when you start trading at any exchange the first thing you need to do is create a demo account and familiar with the functions of the exchange and how to trade there, this is very important, as it will guide our future trading on those exchanges.

Would really be much needed when you are just starting up or trying to familiarize everything, it isnt necessary to be all but it would really be helpful into your career on knowing even with the basic terms and indicators which you would really be encountering everyday.

When i do just start up on trading then i do really start up with demo even though funds are not real and doesnt involve that much on emotion handling but at least you are already aware with those things that you would be using everyday.

When you are ready to face up and make some live account going for real trades then its up to you on how to sustain up yourself.

maisao1991

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no matter anyone when using something new we need to learn how to use it and in trading too, when you start trading at any exchange the first thing you need to do is create a demo account and familiar with the functions of the exchange and how to trade there, this is very important, as it will guide our future trading on those exchanges.

Pokapoka124

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Using a demo account has its pros and cons. The reason why I don't particularly favor the demo account is because one can successful trading a demo account and when you open a live account everything seem to go wrong and you end up blowing the account. Not because you're a bad trader but the psychology is different when you're trading your own money.

bitgolden

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Quote from: seleme on June 19, 2021, 04:58:13 PM

The only downside of the demo trading experience is the lack of controlling emotions because traders will not behave in the same way on demo vs real accounts.

In my opinion, demo account is for testing the technical part and emotion part will come into play only when your technical things are not good. So, if we are practicing and developing good technical skills with the help of demo trading then you can easily gain control on your emotions even with demo accounts.

Quote from: semobo on June 20, 2021, 03:31:11 AM

people who also not going to give much importance when they trade with the free money so the actual trading teaches the actual crypto trading expereince.

There are some discipline you must need to follow while trading in demo account so that the purpose of demo accounts will get fulfilled. If you're not ready to take care of following certain set of rules in demo trading then you should never go for it. It is all about your self-discipline.

If you are very much eager to learn the skills of trading then you can effectively make use of demo account so that you can gain real-like experience from free money itself.

vanessacummings

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Quote from: target on June 18, 2021, 06:40:27 AM

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.

Leveraged trading without demo experience, don’t think I would be up for such risk

aysg76

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We can say that demo account is not necessary but it is very helpful for beginner traders who want to have analysis of trading but don't have money to put in the market.They can try to learn from the various options on demo account and learn to study the charts,TA,FA which will boost your trading skills.You don't need to burn the real money at first instance and have a practical experience of the market.Just imagine it like a vocational course free of cost that gives you some real life skills to manage funds when you become trader.Most traders test their plans and strategies on demo account first and check and have an idea of the success rate.So you can say it is boon for new traders.

semobo

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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.

But the question is, the demo trading actually makes someone to be better in their trading success? I guess no and people who also not going to give much importance when they trade with the free money so the actual trading teaches the actual crypto trading expereince.

seleme

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Quote from: sujonali1819 on June 19, 2021, 10:14:08 AM

Not only in this trading world but also all every place something DEMO is really needed for the new comers. Maybe we who are very familiar with something we can not feel the feelings like newcomers on that place. When newbies have a advantage of using demo account to test the website/or even in real life, they feel good and there confidence increased a lot. So I also think it's really very important for the newcomers.

Instead of risking real balance, using demo accounts will protect the trader from heavy losses unless newbies luck kicks in. The only downside of the demo trading experience is the lack of controlling emotions because traders will not behave in the same way on demo vs real accounts. Btw money management and controlling margin/leverage can be different depending on the greediness or fear level of the trader.

Fatunad

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Quote from: sujonali1819 on June 19, 2021, 10:14:08 AM

Not only in this trading world but also all every place something DEMO is really needed for the new comers. Maybe we who are very familiar with something we can not feel the feelings like newcomers on that place. When newbies have a advantage of using demo account to test the website/or even in real life, they feel good and there confidence increased a lot. So I also think it's really very important for the newcomers.

But you should be careful or be mindful that even if you are doing good with demo but doesnt mean that you would already be good on doing the real thing because it is way too different when we are already dealing with real money since emotions isnt something that you can handle or could control out and this is one of the cons when you are making yourself way too confident. You dont know about risk management
because when it comes to demo then theres no involvement with real cash so its totally a different story.

sujonali1819

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Not only in this trading world but also all every place something DEMO is really needed for the new comers. Maybe we who are very familiar with something we can not feel the feelings like newcomers on that place. When newbies have a advantage of using demo account to test the website/or even in real life, they feel good and there confidence increased a lot. So I also think it's really very important for the newcomers.

zanezane

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Quote from: Traderbtcc on June 18, 2021, 04:36:22 PM

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

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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.

See what I'm getting at? Your testimony is an evidence of how demo trading is an effective tool for practicing and gaining experience, you can freely make mistakes in demo trading to learn how to avoid it.

bitzizzix

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I think demo account is very important for beginners to do before trading in real crypto market, you can learn, practice and hone your trading skills without fear of losing.
and it doesn't mean you just learn and practice carelessly because it's not a real coin that is traded, you also have to really study it well before becoming a good trader.
much for
You can find demo accounts on the internet and youtube, but you have to find one that is trusted and can help you understand it well.

mckinleeanael07

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Exchanges will start all new users with a Demo account so that everyone can start using and familiarize themselves with the exchange, its features, and a more streamlined experience for the floor, so a Demo account is very necessary for those who are just starting out.

Mistafreeze

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Demo trading is good to build a strategy, also it helps to know how the real time movements of a particular market looks like before going into live trading. Like we all need know that emotions is not attached when demo trading cause it's not a live account and if eventually money is lose, there be no regret or further emotional feeling maybe because real money is not involved.
The major problem here is, it can affect one's trading if it is use for too long cause the real emotional feeling that is attached to real live trading especially if loses continues will be very intense, developing weak feeling about the effectiveness of working strategy that an op is using.

KennyR

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Quote from: crzy on June 18, 2021, 06:09:26 PM

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.

Demo account is like experimenting, because to understand how the market works is important. There are users who directly get into trading without knowing any basics about using the trading applications. Even this could cause big losses. Having a demo account with small play money will help beginners understand and do the right thing.

Distinctin

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Quote from: geegaw on June 18, 2021, 04:23:12 PM

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.

It is a stepping stone for a better and wider understanding of how trading it works in real life. Many people have overly confident about this, yeah, it was easy to look at. In fact, this is my first impression about trading but when we are in actual trading, there we can say how hard it was. Honestly, you'll somewhat become crazy if you never know what to do, and most probably, it does nothing good but all are mistakes.

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