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Virtual or demo trading is just only for complete beginner not for mastering in crypto trading completely, demo account offers people to test their skills but the real ability of using their skills can be found only with their real money involved and more people losing means they are just taking it too easy.It is important to start from the scratch not with all the saving you had!
Topic: Virtual trading before actual one - pros and cons - page 3. (Read 755 times)
I see a lot of advice where people suggest each other to practice on websites where they can trade with virtual money. To be fair, I am in this list too among them but at the same time no one warns such people that it was it's pros and cons, more likely cons are outsiders while giving advices.
Pros: You trade with virtual money where your actions can't raise/damage your real budget, it looks like you spend money like nothing. This gives us possibility to test our skills and abilities in trading and help us further why we make mistakes and what we need to fix while considering the fact that the reason why I profit/lose is because you lose/profit.
Yeah, it sounds good but sometimes when we move on real life trading, things go wrong. We are always warned to leave our emotions outside while we are trading that includes: Not to panic sell, hold when there are harsh moments, etc. But we forget to mention another main emotion that we face in this situation: We trade with our money where we are responsible to results and these results may have huge impact on our life. Inside, in our subconscious, we worry about the results because we trade with our, real money.
To my mind that's one of the main reason why people usually start well with virtual trading and end up badly in real life trading and somehow this is one of the most skipped problem in overall.
Virtual or demo trading is just only for complete beginner not for mastering in crypto trading completely, demo account offers people to test their skills but the real ability of using their skills can be found only with their real money involved and more people losing means they are just taking it too easy.It is important to start from the scratch not with all the saving you had! Pros: You trade with virtual money where your actions can't raise/damage your real budget, it looks like you spend money like nothing. This gives us possibility to test our skills and abilities in trading and help us further why we make mistakes and what we need to fix while considering the fact that the reason why I profit/lose is because you lose/profit.
Yeah, it sounds good but sometimes when we move on real life trading, things go wrong. We are always warned to leave our emotions outside while we are trading that includes: Not to panic sell, hold when there are harsh moments, etc. But we forget to mention another main emotion that we face in this situation: We trade with our money where we are responsible to results and these results may have huge impact on our life. Inside, in our subconscious, we worry about the results because we trade with our, real money.
To my mind that's one of the main reason why people usually start well with virtual trading and end up badly in real life trading and somehow this is one of the most skipped problem in overall.
When you are doing virtual trading it depends on how you do that as well, if you are just doing it randomly and happen to hit few lucky trades and make a profit and move to the real one, you will be upset with losing a ton of money and thinking "why did I made so much profit in virtual one and lost in the real one", well the answer would be you were lucky in the virtual and you saw the reality in the actual one.
However if you really give throughout thought on each of your trades even on the virtual one and you actually study why you made a profit or why you made a loss and learn from them, that means you could potentially do the real one very well as well, that is why I believe virtual before actual is depending on how you end up using the virtual one.
However if you really give throughout thought on each of your trades even on the virtual one and you actually study why you made a profit or why you made a loss and learn from them, that means you could potentially do the real one very well as well, that is why I believe virtual before actual is depending on how you end up using the virtual one.
When ever i hear virtual money I get confused, please what did op mean by virtual money?
It's obvious that virtual exist,but what we are considering in this topics here is trading, to trade require money to purchase the necessary cryptoccurrency needed for the trading such bitcoin, litecoin, etherum
If you don't have a specific amount of money for trading,do not adventure into it because the lost might lead human to other pathway of life.
Because of the level of risk I find in it.
It's obvious that virtual exist,but what we are considering in this topics here is trading, to trade require money to purchase the necessary cryptoccurrency needed for the trading such bitcoin, litecoin, etherum
If you don't have a specific amount of money for trading,do not adventure into it because the lost might lead human to other pathway of life.
Because of the level of risk I find in it.
Of course, people will trade differently with real money. This is the main problem with trading on a demo account. On a demo account, you are not afraid of anything, even if you start out conservatively at first.
However, the picture changes when you start trading for real money, and it changes especially if you are good at first.
The way out of situation 2 is to trade on a small deposit, say $ 10 -50 $ -100, depending on your free funds, or abstract and take a demo account very seriously, which is much more difficult.
However, the picture changes when you start trading for real money, and it changes especially if you are good at first.
The way out of situation 2 is to trade on a small deposit, say $ 10 -50 $ -100, depending on your free funds, or abstract and take a demo account very seriously, which is much more difficult.
Ofcourse.
Sometimes I think some sort of real rewards (maybe inform points, rankings, etc) on the "virtual trading" or demo could encourage people to stick to learning, and help them learn almost like they would on the real ones. The rewards should be useful afterwards, and not something that is useless to you after earning them.
In my country, it is advisable to use virtual trading first before risking the total investments, it is mainly in stocks market, sometimes it only focus on the familiarization of the brokers feature and possible price of the companies they wanted to buy. Those who really have zero knowledge in trading should be thankful that virtual tradings are available to be able to earn. I used it when I start in stock market but no in crypto since it's almost the same in use the difference is the companies and volatility is more in crypto. Those who are truly serious to learn and wants to avoid risk should use it.Sometimes I think some sort of real rewards (maybe inform points, rankings, etc) on the "virtual trading" or demo could encourage people to stick to learning, and help them learn almost like they would on the real ones. The rewards should be useful afterwards, and not something that is useless to you after earning them.
I guess making it somewhat mandatory for people to learn with demo before trading the real stock could be an interesting way to incentivize newbie traders... Am not sure everyone will like this though. You can be required to pass your demo trading before you are allowed to go beyond trading what you can afford to lose in real trading.
People could still be allowed to trade with real funds without going through demo (only with what they can afford to lose), until they learn how to trade, then graduate a bit to trading with higher amount.
I'm sure that people who want to try trading would make a research first before dealing with money, No one wants to lose a money right? So it is a common sense that aspiring trader would learn how to trade first and learn the fundamentals of it, It would be nice if platforms make a somekind of practice range for aspiring users.
Ofcourse.
Sometimes I think some sort of real rewards (maybe inform points, rankings, etc) on the "virtual trading" or demo could encourage people to stick to learning, and help them learn almost like they would on the real ones. The rewards should be useful afterwards, and not something that is useless to you after earning them.
In my country, it is advisable to use virtual trading first before risking the total investments, it is mainly in stocks market, sometimes it only focus on the familiarization of the brokers feature and possible price of the companies they wanted to buy. Those who really have zero knowledge in trading should be thankful that virtual tradings are available to be able to earn. I used it when I start in stock market but no in crypto since it's almost the same in use the difference is the companies and volatility is more in crypto. Those who are truly serious to learn and wants to avoid risk should use it.Sometimes I think some sort of real rewards (maybe inform points, rankings, etc) on the "virtual trading" or demo could encourage people to stick to learning, and help them learn almost like they would on the real ones. The rewards should be useful afterwards, and not something that is useless to you after earning them.
I guess making it somewhat mandatory for people to learn with demo before trading the real stock could be an interesting way to incentivize newbie traders... Am not sure everyone will like this though. You can be required to pass your demo trading before you are allowed to go beyond trading what you can afford to lose in real trading.
People could still be allowed to trade with real funds without going through demo (only with what they can afford to lose), until they learn how to trade, then graduate a bit to trading with higher amount.
What must be remembered is that practicing trading using virtual trading does not guarantee that we will immediately
succeed when doing real life trading. But in my opinion the percentage of success of people using virtual trading is
greater than people who jump right in do real life trading. So I am one of those who support virtual trading.
Yeah it is true but still paper trading is important in order to get familiarize on what is going on in the cryptocurrency market. Actually, the people who are doing trading simulator or paper trading first are the people who have lessen mistakes in their real portfolio. The only cons that I only seeing in paper trading is the emotion where it is not real especially if your money is not involved. Actually, in real life trading; understanding our own emotions are very important because it plays vital role in making decisions that can help us to succeed in trading.succeed when doing real life trading. But in my opinion the percentage of success of people using virtual trading is
greater than people who jump right in do real life trading. So I am one of those who support virtual trading.
Do not quickly open trading account if you do not yet try a paper trading, it is not required but paper trading can change your trading journey. Maybe it can help you in order for you to master your skills and the strategies wherein you can use in your rea portfolio in order to make gains.
What must be remembered is that practicing trading using virtual trading does not guarantee that we will immediately
succeed when doing real life trading. But in my opinion the percentage of success of people using virtual trading is
greater than people who jump right in do real life trading. So I am one of those who support virtual trading.
succeed when doing real life trading. But in my opinion the percentage of success of people using virtual trading is
greater than people who jump right in do real life trading. So I am one of those who support virtual trading.
Ofcourse.
Sometimes I think some sort of real rewards (maybe inform points, rankings, etc) on the "virtual trading" or demo could encourage people to stick to learning, and help them learn almost like they would on the real ones. The rewards should be useful afterwards, and not something that is useless to you after earning them.
In my country, it is advisable to use virtual trading first before risking the total investments, it is mainly in stocks market, sometimes it only focus on the familiarization of the brokers feature and possible price of the companies they wanted to buy. Those who really have zero knowledge in trading should be thankful that virtual tradings are available to be able to earn. I used it when I start in stock market but no in crypto since it's almost the same in use the difference is the companies and volatility is more in crypto. Those who are truly serious to learn and wants to avoid risk should use it. Sometimes I think some sort of real rewards (maybe inform points, rankings, etc) on the "virtual trading" or demo could encourage people to stick to learning, and help them learn almost like they would on the real ones. The rewards should be useful afterwards, and not something that is useless to you after earning them.
The first thing that I do when I'll entry to the market I've known the direction of the market itself, it means, I am not gambling for my money. Regardless I get profit and lose at the end I will never regret it but I will just take it as my experience later.
The second thing that I always do is set the profit target and stop lose for my risk, I mean I must set the amount of money that I can afford to lose. The both strategy has led me to make my day trading always comfortable. And you have to know, demo account will never you aware when you trade, it's really different. So, if you have intention to start trading you may be good if you use real money.
The second thing that I always do is set the profit target and stop lose for my risk, I mean I must set the amount of money that I can afford to lose. The both strategy has led me to make my day trading always comfortable. And you have to know, demo account will never you aware when you trade, it's really different. So, if you have intention to start trading you may be good if you use real money.
i have thought of this before but if i have though of it why not others ? im not a trader either but for a real trader or to those who are starting , this step is not been skip by them but they priotize this . they think of way of how to handle it .
my guess is that they start with real money and avoid virtual money when they are going to practice , that sounds risky but its okay because they can benefit of it later on and they can recover what they have lost on thier practice's .
my guess is that they start with real money and avoid virtual money when they are going to practice , that sounds risky but its okay because they can benefit of it later on and they can recover what they have lost on thier practice's .
Virtual trading is just a way to familiarize yourself. It really isn't considered experience imo, especially since the one factor that most traders fear, "risk", isn't involved.
Being familiar with a trading engine is better than not being familiar with it, wouldn't you agree ?
Now about the risk, that's true, so you should try to simulate it also.
For starters, do the virtual trading with the same amount you would use IRL. No sense in trading 10 BTC and 100K$ if in truth you will be trading 0.01BTC and 100$. That could have an impact on fees for example.
Then you could "risk" something else. Let's say there is something you should do but don't because it's a chore, promise to do it if you lose the money. Like exercising every day, or go see an old family member you don't really like, or something like that. Then there is an incentive to not lose, not take too much risk.
Just an idea.
Personally, I can say that when trading on a virtual platform, I got used to a little how to behave.
Virtual trading is just a way to familiarize yourself. It really isn't considered experience imo, especially since the one factor that most traders fear, "risk", isn't involved. Virtual trading could be simply said as something that let's you be used to how charts/markets/movements etc. work, and you being used to them means that you could understand a lot of things quickly compared to normal. Simply saying, it's like the visual form of a huge amounts of text, presented in an image form. It's like explaining the process of photosynthesis in all text form being presented once again in picture form, which let's you understand things a whole lot easier.
Yup that’s right, I have seen people who try virtual trading and they are giving fake $10,000 to try out the virtual, and when they try the demo they will be succeeding, but once they decide to get into the real trading they will start losing.
It is just like that, and from what I understand, when they are into that virtual trading , most of them are just seeing it as a guess work and they just be hitting that buy and sell button and things are kicking in randomly and profit coming, and they think that’s how it’s going to be in the real trading.
Even if they experience loss in the demo trading, they don’t really feel it and don’t care to figure it out since it’s not real money, they are just having fun until they get into the real thing.
They don't put in effort in virtual trading, not their money, not their business so to speak. This is why they think of real trading as something similar, though it mostly just involves them lying to themselves that "this is easy, I was able to earn 100% profit in virtual trading in 2 days blah blah gibberish". It is just like that, and from what I understand, when they are into that virtual trading , most of them are just seeing it as a guess work and they just be hitting that buy and sell button and things are kicking in randomly and profit coming, and they think that’s how it’s going to be in the real trading.
Even if they experience loss in the demo trading, they don’t really feel it and don’t care to figure it out since it’s not real money, they are just having fun until they get into the real thing.
Can easily be compared to virtual gambling.
Like playing poker in facebook where that money is just from another user who sent you gifts.
You play and gamble all the way without even thinking about it.
Why? It ain't real. That is the dark side of that.
I'd rather trade with a little amount. That way, I will still be careful because I am losing real money.
Like playing poker in facebook where that money is just from another user who sent you gifts.
You play and gamble all the way without even thinking about it.
Why? It ain't real. That is the dark side of that.
I'd rather trade with a little amount. That way, I will still be careful because I am losing real money.
Losing a lot of money is a very stressful thing, so everybody should be more clever about it. Trading won't be compared as of gambling if you knew exactly the reality of the game, because skills and patience should be together. If you don't have that capability, you'll end up wasting huge amount of money. Becoming professional trader isn't easy, you need to work hard for it and never make the same mistakes again.
Why used a word virtual trading, just used its demo account.
Yeah, it's kinda misleading to use virtual trading because actual and demo trading are all virtual trading.
Anyhow, demo trading though is kinda helpful because we tend to practice trading, we make some realizations and learning about the right reading of technical analysis before we are going to do some actual trades. But it's quite different when we trade in an actual field.
We are trading in actual market volatility, we can see how whales are actually reacting in actual trading, we try to control the real fomo emotions, etc.
On the other hand, though practice makes perfect. But actual trading experience is the best teacher to become a better trader
It does have its cons when it comes to some aspects since you've been not dealing with actual money then seriousness of doing trades will really be not too present when you do make up some
trades since you do know that you arent risking something.
But having these features will really make you learn and able to grasp something which can really be so useful when you are already dealing with actual money.
Can easily be compared to virtual gambling.
Like playing poker in facebook where that money is just from another user who sent you gifts.
You play and gamble all the way without even thinking about it.
Why? It ain't real. That is the dark side of that.
I'd rather trade with a little amount. That way, I will still be careful because I am losing real money.
Like playing poker in facebook where that money is just from another user who sent you gifts.
You play and gamble all the way without even thinking about it.
Why? It ain't real. That is the dark side of that.
I'd rather trade with a little amount. That way, I will still be careful because I am losing real money.
Virtual trading only provides experience for beginners who want to trade so that it is easier to understand what strategy to use, so that real funds will remain safe. Virtual trading is just a lesson before plunging into real trading.
When doing virtual trading, you always get profit, so when trading real you get a lot of losses. it all depends on psychology. In virtual trading, psychology will not play a lot because there is no real money.
The most important thing is how to regulate emotions in trading, even a professional will lose with unstable emotions and tend to choose the wrong choice.
When doing virtual trading, you always get profit, so when trading real you get a lot of losses. it all depends on psychology. In virtual trading, psychology will not play a lot because there is no real money.
The most important thing is how to regulate emotions in trading, even a professional will lose with unstable emotions and tend to choose the wrong choice.
I see a lot of advice where people suggest each other to practice on websites where they can trade with virtual money. To be fair, I am in this list too among them but at the same time no one warns such people that it was it's pros and cons, more likely cons are outsiders while giving advices.
Pros: You trade with virtual money where your actions can't raise/damage your real budget, it looks like you spend money like nothing. This gives us possibility to test our skills and abilities in trading and help us further why we make mistakes and what we need to fix while considering the fact that the reason why I profit/lose is because you lose/profit.
Yeah, it sounds good but sometimes when we move on real life trading, things go wrong. We are always warned to leave our emotions outside while we are trading that includes: Not to panic sell, hold when there are harsh moments, etc. But we forget to mention another main emotion that we face in this situation: We trade with our money where we are responsible to results and these results may have huge impact on our life. Inside, in our subconscious, we worry about the results because we trade with our, real money.
To my mind that's one of the main reason why people usually start well with virtual trading and end up badly in real life trading and somehow this is one of the most skipped problem in overall.
Pros: You trade with virtual money where your actions can't raise/damage your real budget, it looks like you spend money like nothing. This gives us possibility to test our skills and abilities in trading and help us further why we make mistakes and what we need to fix while considering the fact that the reason why I profit/lose is because you lose/profit.
Yeah, it sounds good but sometimes when we move on real life trading, things go wrong. We are always warned to leave our emotions outside while we are trading that includes: Not to panic sell, hold when there are harsh moments, etc. But we forget to mention another main emotion that we face in this situation: We trade with our money where we are responsible to results and these results may have huge impact on our life. Inside, in our subconscious, we worry about the results because we trade with our, real money.
To my mind that's one of the main reason why people usually start well with virtual trading and end up badly in real life trading and somehow this is one of the most skipped problem in overall.
Learning and trying there are some differences in it, if someone uses the virtual trading just to get familiar with the trading platforms means they are the one going to lose their money when they start playing with real money where as someone is learning from virtual trading with the same effort as real money involved which will enhance their trading when they go with real money.
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