Trading your strategy on DEMO is a waste of time - page 6.

Coin_trader

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Quote from: Theb on March 13, 2021, 10:34:50 AM

Learning how to trade will be different for everyone and that is why I disagree with you on this matter. Yeah you are right people might be more confident when it comes to dummy trading but I can say the same thing for live trading with low money as well, since they will be trading let say 1$ as your example he/she will still have that confidence that if his/her trade goes wrong he/she will only be losing 1$ which is the same thing as dummy trading. Our emotional quotient is really important when it comes to trading but I don't like the idea of going out there and start testing your trading plan without any kind of knowledge whatsoever that is why trying out on a dummy trade is good if you don't have the money you can afford to lose.

The OP sample which is 10$ is not small and not big amount or simply sufficient amount that you will give importance one you put it to trading. And I believe that’s what the OP really want to emphasize on this thread which I agree. The only thing demo trading good usage are for experimenting signals and pattern your are studying before applying it on real trade but the rest of learning process is through experience on actual trading.

taufik123

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Live or Demo trade which distinguishes only the use of real capital and intangible capital.
both of them have the same way of trading. Demo trading is only used for practice when you are still not sure of your skills or you are still a beginner. Whereas live trading is trading directly using your real money. Live trading is more challenging and exercises our emotions and strategies.
I have never used demo trading until now, but there's nothing wrong with using demo trading just for practice and won't waste your time.

Theb

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Learning how to trade will be different for everyone and that is why I disagree with you on this matter. Yeah you are right people might be more confident when it comes to dummy trading but I can say the same thing for live trading with low money as well, since they will be trading let say 1$ as your example he/she will still have that confidence that if his/her trade goes wrong he/she will only be losing 1$ which is the same thing as dummy trading. Our emotional quotient is really important when it comes to trading but I don't like the idea of going out there and start testing your trading plan without any kind of knowledge whatsoever that is why trying out on a dummy trade is good if you don't have the money you can afford to lose.

goldade

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

While I do believe that demo trading is necessary for newbie traders to get familiar with the concept of trading, chart patterns and using strategies, I am of the opinion that what OP write above is true.
Many people remain nonchalant about trading simply because they aren't losing any money. So many people take unnecessary risks, such as not setting stop-loss, simply because He's not losing a dime.
I believe when one learn trading with a live account, he's very careful with taking risks. He's very careful with trying out strategies. He feels the heat of losing money. And that's how to be a good trader.
It is however advisable one only learn trading with money one can afford to lose.

semobo

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

But every pair has minimum trade value and due to the increase in cryptocurrency prices trading with 10 dollar is also waste of time, atleast spend $100 to start your trading career.

In my opinion everyone should try the demo first instead of going to trade with their real money cause every penny is valuable so if you are going to spend money even after you have high chances of losing it is not a wise decision.

Sterbens

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Demo trading is important, to hone our skills before jumping into real trading. and demo trading is intended to control the market situation, so that we are not awkward. Not solely a demo trade is provided, but to help traders get to know the trading system more closely and assess the basic trading principles they will face.

michellee

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Trading using a demo version is not a waste of time because that will help us know how to analyze the market and practice our skills. Every people can start trading, but that will depend on how they can understand the lesson and analyze the market. If they think that it is enough to use the demo trading, they can start to use the real exchange and start trading with a small amount. If he can profit over and over, maybe they can add more balance and trade more. But he still needs to learn more about trading because the market can change from time to time and improve his skills.

Hippocrypto

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

Certainly that's the good idea when starting trading, but that needs to be done with focus and determination. However, it's not painful to have at least $1 because it's really a small amount to trade. When time comes you're going to master everything, huge amounts will be sufficient once skills is going to develop.

LUCKMCFLY

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

It is true what OP says, but many times trading in DEMO mode is useful for newbies in trading to learn to use the tools that the Exchange has, it is clear that you must take risks, but if you risk and lose money because you do not know how to place an instruction in the Exchange to go Short or Limit? They are mistakes that should not be allowed. It also serves to demonstrate whether the plan you are executing is correct.

Gozie51

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I'm not a trader but I believe it is better to demo trade. Op, maybe you may say don't stay too long while practicing and that will be better than not doing a demo. If you don't do demo,how do you master the keys and the trading windows, the buttons you need. There are many factors you need demo for apart from strategy or plans. Demo is good but doing it for long may be the waste of time.

nelson4lov

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

~Snipped

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

While I do understand your reasons about why demo trading isn't worth it, it's important to also note that not everyone is the same and some needs a tad more practice in order to get them to the level that they can go ahead to trade with real money. I believe that's the reason why demo trading was created in the first place. For one, you can use it to practice whatever trading tools or strategies you learn about since its more of a simulation of how a live trading account would be given the same case scenario.

Bttzed03

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another.

Does the learning trader means you're already familiar with all types of chart patterns and know how to read/use indicators? If so, there is no reason to use demo trading anymore if you're here to make profits. It's time to develop that thick skin/skull, cold heart, or whatever it is that people call nowadays.

joniboini

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

Demo trading is intended to test the strategy imo, not the emotional part of the trading activities. Without knowing which strategy works for you it will be easy to get emotional and I doubt that's a good way to practice.

Unless you have a lot of money to burn, trading with your real money blindly without any basis is like gambling. "Develop instinctively" is such an ambiguous idea without a clear standard at which point your instinct is good enough, and at that point how much money you burned. I'd rather not do that.

Kittygalore

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Trading on demo is not a waste of time, perspective matters on this one, if you don't want to release any money out of your own pocket to gain some trading experience, demo trading is a good way to start because it can help you do some risky trades and find out the result without the worry that you are going to lose money, demo trading is good for newbie traders because they gain experience without losing as much as 1 USD. Just because many people lose money trading doesn't mean that you have to do the tradition of losing money, the smart ones learn from the mistakes of others.

cytpoway121

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I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

Edit: What do you think about this, do enlighten us all

Topic: Trading your strategy on DEMO is a waste of time - page 6. (Read 881 times)