What is your honest review of the Demo account? - page 2.

rozak

sr. member

Activity: 1960

Merit: 273

★Bitvest.io★ Play Plinko or Invest!

Quote from: Minecache on June 30, 2023, 07:26:18 AM

The demo account is very useful for newbies as it can teach them to understand and know how to trade, as well as help them avoid mistakes when starting. But newbies should not depend on or use the demo account for long. In my opinion, using a real account from the beginning is still better because the psychology of using real and fake is always different, different psychology will lead to different behavior. Even if you are proficient and make profits on a demo account, there is no guarantee that you will profit on a real account because your mentality and behavior will be completely different. So using the demo for too long will form unnecessary bad habits.

a demo account in trading will help beginners understand the look and features of the exchange. so as much as possible try various existing firut and also implement some of the strategies that have been studied is not a problem.
Even though beginners who directly use real accounts to trade have good psychology, everything also depends on the readiness of beginners. because everyone of course has a different psychology in dealing with market price movements which usually tend to make beginners panic.

Minecache

legendary

Activity: 2184

Merit: 1024

Vave.com - Crypto Casino

Quote from: lalabotax on June 29, 2023, 05:57:46 PM

Quote from: Doan9269 on June 26, 2023, 02:50:27 PM

We are free and eligible to try out with the use of trading demo account if we are learning as a beginner and also can recommend such for those we already know are coming new to the trading of bitcoin in cryptocurrency,

Indeed. It will depend on us. It wiill also so depend on our intention tonuse the demo account. But for me, dwko account is helpful because we can tu it before real time trading. Some people mau complain that the actual trading is moreover difficult than in the demo account. But for me, it doesn't matter because at least the demo account can really help me to understand how the trading on the platform worming on. So, I can know even small parts, not really in zero knowledge.

The demo account is very useful for newbies as it can teach them to understand and know how to trade, as well as help them avoid mistakes when starting. But newbies should not depend on or use the demo account for long. In my opinion, using a real account from the beginning is still better because the psychology of using real and fake is always different, different psychology will lead to different behavior. Even if you are proficient and make profits on a demo account, there is no guarantee that you will profit on a real account because your mentality and behavior will be completely different. So using the demo for too long will form unnecessary bad habits.

lalabotax

full member

Activity: 1498

Merit: 132

BK8 - Most Trusted Gambling Platform

Quote from: Doan9269 on June 26, 2023, 02:50:27 PM

We are free and eligible to try out with the use of trading demo account if we are learning as a beginner and also can recommend such for those we already know are coming new to the trading of bitcoin in cryptocurrency,

Indeed. It will depend on us. It wiill also so depend on our intention tonuse the demo account. But for me, dwko account is helpful because we can tu it before real time trading. Some people mau complain that the actual trading is moreover difficult than in the demo account. But for me, it doesn't matter because at least the demo account can really help me to understand how the trading on the platform worming on. So, I can know even small parts, not really in zero knowledge.

bitgolden

legendary

Activity: 2800

Merit: 1128

Leading Crypto Sports Betting & Casino Platform

Quote from: Doan9269 on June 26, 2023, 02:50:27 PM

We are free and eligible to try out with the use of trading demo account if we are learning as a beginner and also can recommend such for those we already know are coming new to the trading of bitcoin in cryptocurrency, this has a widespread opportunities to make us get familiar with trading when we having a training ground of such with the use of a trading demo account, it's also a means to help us avoid mistakes while trading in some particular aspect we may not easily get used to apprehend while trading.

Even veterans use it for testing. Newbies who go into trading right away would lose a lot of money because they didn't study, the ones that study and learned a lot would not have a way to confirm if they learned it or not, if they can learn more about it then they could end up with a profit during the demo account period, if they don't that means they haven't learned it and need to go back and study.

This is basically like exams at schools, it is not the SAT type of level, that's the real thing, but the quiz you take at school shows you how much you learned and how much you failed to learn. I believe that it is going to be pretty tough in the end and we should not be really wondering what we could be doing on the long run.

xSkylarx

hero member

Activity: 2352

Merit: 593

Quote from: Kelvinid on June 26, 2023, 05:35:31 PM

Quote from: Doan9269 on June 26, 2023, 02:50:27 PM

We are free and eligible to try out with the use of trading demo account if we are learning as a beginner and also can recommend such for those we already know are coming new to the trading of bitcoin in cryptocurrency, this has a widespread opportunities to make us get familiar with trading when we having a training ground of such with the use of a trading demo account, it's also a means to help us avoid mistakes while trading in some particular aspect we may not easily get used to apprehend while trading.

Yes, it was just a training tool helping us to learn to trade and we benefit from that as we can apply the learning we got from it in actual trading. But it doesn't mean that it was enough, we learn more when we are in actual trade. More challenging and can really feel how hard is trading when you are new to the market, and you can really be saying that what you have got from the demo account is just a first step of learning how to trade because true learning is when you are using your real money and feel the disappointment when you lose.

Also, other professional traders use demo accounts mostly when they try out new trading platforms to see how the UI works because if you deposit and try to trade if you don't know or feel lost in the UI of the platform, then it is already a loss. That is why they will try to learn those features of other platforms, as all platforms have different UIs. Let's just think of our demo account as our trading playground, meaning you can do whatever we can do in there, and we should make use of it and have fun on it.

Mahanton

hero member

Activity: 2688

Merit: 625

Quote from: tygeade on June 26, 2023, 04:44:15 AM

Quote from: Bushdark on June 14, 2023, 10:20:21 AM

I do see demo account as a playing account because you don't lose anything, you trading like a pro without having any feelings even though you lose thousands of dollars. This is not a real account and we should not put our dependency on it because it can affect the way we trade and send us off guard.

We need to be mindful the way we use it to learn how to trade because the simple reason for demo account is to have a feel of how trading looks like and make necessary adjustment when due so you can be able to trade on live when you are ready.

We don't need to spend a lot of time on demo trading because it as big effects than what we are enjoying. There is no feelings when we trade with it and we might not even know how it pains when we lose small amount of funds in the market compare to losing big amount of money.

I think "feelings" do not matter in that regard because when you are using a demo the idea is not to see if you are a good trader, its about learning if you are a bad one. If you keep losing money there that means you should go back and study why you are losing money and that's important.

We could be a bit more wild and turn out to be right once or twice when demo trading, because we are not going to lose our money there so we can be a bit more free, but that's not a forever thing, if you are bad then you will end up losing money eventually and the average will be down. This is why I believe that its quite important to keep trying yourself on the demo first and if you are terrible then find out what went wrong and fix that.

This is what is lacking when you do deal up with demo account on which you cant really be able to master out or overcome your emotions or simply on its handling when you do demo.Why? you do know that you cant
lose money on demo account on which this wont really be utilized or something that would really be developed since we know when we do demo then we cant lose money.This is why when making up positions or application of strategies then you would really be that some sort of fearless. This is why it would really be that ideal that on the time that you had mastered out on demo trading then better switch it up to live
and make yourself that more better because this is where you would be able to find out on how important emotion handling would be specially on a market which is really that very unpredictable.
There's no way that we could be able to predict the future but somewhat because of the analysis and tools that we could make use of then we could at least made ourselves hang on the rope.

Kelvinid

sr. member

Activity: 2800

Merit: 344

when lambo...

Quote from: Doan9269 on June 26, 2023, 02:50:27 PM

We are free and eligible to try out with the use of trading demo account if we are learning as a beginner and also can recommend such for those we already know are coming new to the trading of bitcoin in cryptocurrency, this has a widespread opportunities to make us get familiar with trading when we having a training ground of such with the use of a trading demo account, it's also a means to help us avoid mistakes while trading in some particular aspect we may not easily get used to apprehend while trading.

Yes, it was just a training tool helping us to learn to trade and we benefit from that as we can apply the learning we got from it in actual trading. But it doesn't mean that it was enough, we learn more when we are in actual trade. More challenging and can really feel how hard is trading when you are new to the market, and you can really be saying that what you have got from the demo account is just a first step of learning how to trade because true learning is when you are using your real money and feel the disappointment when you lose.

Doan9269

hero member

Activity: 812

Merit: 560

We are free and eligible to try out with the use of trading demo account if we are learning as a beginner and also can recommend such for those we already know are coming new to the trading of bitcoin in cryptocurrency, this has a widespread opportunities to make us get familiar with trading when we having a training ground of such with the use of a trading demo account, it's also a means to help us avoid mistakes while trading in some particular aspect we may not easily get used to apprehend while trading.

taufik123

legendary

Activity: 2520

Merit: 1721

MrStork Exchange Service

Quote from: salad daging on June 25, 2023, 12:22:58 PM

When trading using real money, thinking will become even more sensitive because thinking will become more tense when real money is played in trading, plus they will be required to win if they are not profitable then psychology will be disrupted and that usually happens to those who are beginners who are just trying, and indeed a demo account as a lesson but will not provide any experience if you don't use real money.

Starting with theory and then practice, it will indeed be better. Real trading experience will provide a lot of experience, especially how to determine the strategy if, in an emergency, psychology will be played.

When not profitable and lead to losses it will be a lesson that needs to be corrected first.
Psychology will be stronger if we face all markets and not just wait for a bullish market.

I never do demo trading, I just start with theory and then apply it to real trading with a little money that is only used to learn.

Ziskinberg

hero member

Activity: 2926

Merit: 636

For campaign management look for Little Mouse!

Quote from: Nrcewker on June 25, 2023, 01:30:24 PM

Demo account is for testing the trading platform. A trading platform provides the demo account feature in order to test the site or practice there. Many times user don’t know about trading or how to trade, for that reason also he can use the demo account to understand the market and trades. At last I have seen people using demo account to try some strategies for the market. So if you ask me for the review, then I would say it doesn’t do any harm atleast. Rest its good to do practice and learn the market.

Trading encourages users to have a Demo account just to get familiar with the platform and by giving some free money to enjoy while doing trading, they are engaging themselves to get ready until decide to formally launch an actual trade. I'd see it helps for beginners but there is also a disadvantage to using a Demo account as this won't make someone become emotionally strong and good in decision making. What they feel was just easy and no stress which is a far different experience when doing an actual trade and using our personal money.

tygeade

legendary

Activity: 2086

Merit: 1058

Quote from: Bushdark on June 14, 2023, 10:20:21 AM

I do see demo account as a playing account because you don't lose anything, you trading like a pro without having any feelings even though you lose thousands of dollars. This is not a real account and we should not put our dependency on it because it can affect the way we trade and send us off guard.

We need to be mindful the way we use it to learn how to trade because the simple reason for demo account is to have a feel of how trading looks like and make necessary adjustment when due so you can be able to trade on live when you are ready.

We don't need to spend a lot of time on demo trading because it as big effects than what we are enjoying. There is no feelings when we trade with it and we might not even know how it pains when we lose small amount of funds in the market compare to losing big amount of money.

I think "feelings" do not matter in that regard because when you are using a demo the idea is not to see if you are a good trader, its about learning if you are a bad one. If you keep losing money there that means you should go back and study why you are losing money and that's important.

We could be a bit more wild and turn out to be right once or twice when demo trading, because we are not going to lose our money there so we can be a bit more free, but that's not a forever thing, if you are bad then you will end up losing money eventually and the average will be down. This is why I believe that its quite important to keep trying yourself on the demo first and if you are terrible then find out what went wrong and fix that.

Nrcewker

copper member

Activity: 2156

Merit: 536

Building my own Dreams!

Demo account is for testing the trading platform. A trading platform provides the demo account feature in order to test the site or practice there. Many times user don’t know about trading or how to trade, for that reason also he can use the demo account to understand the market and trades. At last I have seen people using demo account to try some strategies for the market. So if you ask me for the review, then I would say it doesn’t do any harm atleast. Rest its good to do practice and learn the market.

salad daging

hero member

Activity: 1624

Merit: 791

Bitcoin To The Moon 📈📈📈

Quote from: taufik123 on June 25, 2023, 12:02:30 PM

will be very different, trading using a demo account will be easier to profit from because there is no pressure that disturbs psychology.
So that everything will go well.

Yes, trading using a demo account doesn't have any pressure, it makes us not burdened with anything, even if you lose, psychology won't be disturbed and it will be a pleasure with a demo account, the average person using their demo account is always with smooth wins.

Quote from: taufik123 on June 25, 2023, 12:02:30 PM

But when trading directly then psychology will be in play and it will determine whether you get a profit or not, because you use real money.

Demo accounts are only used for trading practice, not forever.
The really good practice is with a real account so that there will be a lot of trading experience that can make a person develop and learn.

When trading using real money, thinking will become even more sensitive because thinking will become more tense when real money is played in trading, plus they will be required to win if they are not profitable then psychology will be disrupted and that usually happens to those who are beginners who are just trying, and indeed a demo account as a lesson but will not provide any experience if you don't use real money.

taufik123

legendary

Activity: 2520

Merit: 1721

MrStork Exchange Service

Quote from: judaspriest on June 24, 2023, 08:58:00 PM

I think the demo account is just for an introduction for those newbies and that's about it,
the rest don't expect that you will be able to develop further when you continue to use the demo account,
it is definitely different trading using a demo account and trading live or real.

will be very different, trading using a demo account will be easier to profit from because there is no pressure that disturbs psychology.
So that everything will go well.

But when trading directly then psychology will be in play and it will determine whether you get a profit or not, because you use real money.

Demo accounts are only used for trading practice, not forever.
The really good practice is with a real account so that there will be a lot of trading experience that can make a person develop and learn.

judaspriest

full member

Activity: 1330

Merit: 100

C O M B O

Quote from: Botnake on June 24, 2023, 05:55:00 PM

Quote from: Davidvictorson on March 30, 2023, 04:12:33 PM

What is your honest review of the Demo account?
Do you think that should spend so much time trading on a demo account? I believe that in demo trading, there are no real consequences for losing "money". If you notice, the pain is different than the one felt when you actually experience a loss on a live account. Demo trading simply helps the newbie get acquainted with the trading platform, and it should only be for a few weeks. Compared to live trading, demo trading lacks the ability to mental and emotional resilience. For me, the real trading education starts where demo trading ends. What do you think?

1. admiralmarkets.sc/education/articles/forex-basics/...f-forex-demo-account
2. http://tradethatswing.com/when-to-switch-from-demo-to-liv...rading-real-capital/

It’s useless to trade using demo account for so much long as it will never help you become more exposed to what is really happening in live trading. That way, you will only get limited knowledge about bitcoin which means you can never be confident when you trade. Unlike when you give most of your time trading with live account, not only you will honed your skills and strategies, but you will also develop best ways on how to handle your emotions which is a necessity when trading.

I think the demo account is just for an introduction for those newbies and that's about it,
the rest don't expect that you will be able to develop further when you continue to use the demo account,
it is definitely different trading using a demo account and trading live or real.

Botnake

hero member

Activity: 2828

Merit: 666

Quote from: Davidvictorson on March 30, 2023, 04:12:33 PM

What is your honest review of the Demo account?
Do you think that should spend so much time trading on a demo account? I believe that in demo trading, there are no real consequences for losing "money". If you notice, the pain is different than the one felt when you actually experience a loss on a live account. Demo trading simply helps the newbie get acquainted with the trading platform, and it should only be for a few weeks. Compared to live trading, demo trading lacks the ability to mental and emotional resilience. For me, the real trading education starts where demo trading ends. What do you think?

1. admiralmarkets.sc/education/articles/forex-basics/...f-forex-demo-account
2. http://tradethatswing.com/when-to-switch-from-demo-to-liv...rading-real-capital/

It’s useless to trade using demo account for so much long as it will never help you become more exposed to what is really happening in live trading. That way, you will only get limited knowledge about bitcoin which means you can never be confident when you trade. Unlike when you give most of your time trading with live account, not only you will honed your skills and strategies, but you will also develop best ways on how to handle your emotions which is a necessity when trading.

ampere

full member

Activity: 1218

Merit: 116

Quote from: Davidvictorson on March 30, 2023, 04:12:33 PM

What is your honest review of the Demo account?
Do you think that should spend so much time trading on a demo account? I believe that in demo trading, there are no real consequences for losing "money". If you notice, the pain is different than the one felt when you actually experience a loss on a live account. Demo trading simply helps the newbie get acquainted with the trading platform, and it should only be for a few weeks. Compared to live trading, demo trading lacks the ability to mental and emotional resilience. For me, the real trading education starts where demo trading ends. What do you think?

1. admiralmarkets.sc/education/articles/forex-basics/...f-forex-demo-account
2. http://tradethatswing.com/when-to-switch-from-demo-to-liv...rading-real-capital/

I disagree with the idea of demo account, and to be factual, demo accounts is one of the reasons why so many traders (especially newbies) are getting wrecked in the trading. Demo account fuels ego, enhances laziness and encourages pride. If you are a trader in view, or just getting grasps of what trading is all about, practice with a real trading account; The only way to learn is to practice on the playing field!

You do not become a good and quality trader by trading demo; you become a good trader by learning the ropes in the best quality way!

Inspiron14

full member

Activity: 1064

Merit: 101

Quote from: @sriyan on June 24, 2023, 04:03:00 AM

Quote from: Davidvictorson on March 30, 2023, 04:12:33 PM

What is your honest review of the Demo account?
Do you think that should spend so much time trading on a demo account? I believe that in demo trading, there are no real consequences for losing "money". If you notice, the pain is different than the one felt when you actually experience a loss on a live account. Demo trading simply helps the newbie get acquainted with the trading platform, and it should only be for a few weeks. Compared to live trading, demo trading lacks the ability to mental and emotional resilience. For me, the real trading education starts where demo trading ends. What do you think?

1. admiralmarkets.sc/education/articles/forex-basics/...f-forex-demo-account
2. http://tradethatswing.com/when-to-switch-from-demo-to-liv...rading-real-capital/

Yes. you are correct. But you will get more experience with the trading platform with paper trading. Let's say someone does not have capital and needs to test his strategies, he can try out demo trading. I will recommend this to any new users.

Demo trading is basically just for beginners to get them to know more and I think that's about it,
because in demo trading it is like set up can easily make profit,
obviously it will be very different from trading for real.

@sriyan

member

Activity: 468

Merit: 13

Quote from: Davidvictorson on March 30, 2023, 04:12:33 PM

What is your honest review of the Demo account?
Do you think that should spend so much time trading on a demo account? I believe that in demo trading, there are no real consequences for losing "money". If you notice, the pain is different than the one felt when you actually experience a loss on a live account. Demo trading simply helps the newbie get acquainted with the trading platform, and it should only be for a few weeks. Compared to live trading, demo trading lacks the ability to mental and emotional resilience. For me, the real trading education starts where demo trading ends. What do you think?

1. admiralmarkets.sc/education/articles/forex-basics/...f-forex-demo-account
2. http://tradethatswing.com/when-to-switch-from-demo-to-liv...rading-real-capital/

Yes. you are correct. But you will get more experience with the trading platform with paper trading. Let's say someone does not have capital and needs to test his strategies, he can try out demo trading. I will recommend this to any new users.

justdimin

hero member

Activity: 2968

Merit: 670

www.Crypto.Games: Multiple coins, multiple games

Quote from: petulino on June 22, 2023, 08:03:11 AM

demo account is only for learning trading methods. Trading on a demo account does not involve our emotions because here we have no fear of profit or loss. Unless our emotions are involved in our trading we cannot gain experience. Our experience will start when we start trading with real account and realize profit or loss. Then our trading will include our emotions. One who has not made a mistake, who has not suffered a loss, can never experience completeness. Therefore, there is a big difference between trading with a demo account and trading with a real account. A demo account is a good learning forum for newbies only.

Emotions part is just way too much overblown. I get that you do not have emotions when you are trading on demo, but if you are having way too much emotions when trading for real, that's the part you should be working on as well. I am not saying that real money and demo account should have the same emotions, but it shouldn't really be "that" different neither, not as much as people claim to me.

Many people on this topic made it sound like when trading demo account there are zero emotions, and when trading for real everyone is dying from stress and near heart attack levels. Maybe it is not about the demo being easy, but maybe it is about people not being sure about this part, that does feel a bit different for sure, it is definitely an issue.

Topic: What is your honest review of the Demo account? - page 2. (Read 1028 times)