Topic: What is your honest review of the Demo account? - page 3. (Read 1082 times)

Definitely you aren't wrong to the point you are making, honestly speaking DEMO TRADING has really helped me a lot to see those loopholes like where I might be wrong and same time right. Demo trading also has basically drawn a line to where i should wait patiently for my setups to show up and so to say when to enter trades.

the demo account is good for testing our trading strategy, but we have to apply it as well as we can, considering that we don't lose any real money. therefore a trading strategy that can be honed on a demo account. after that we can hone our trading skills on a real account, and we will be able to feel the difference, because here our emotions will be tested, no matter how good the strategy is, but if our emotions are unstable then bad results will be achieved.

Emotions are really the problem in demo accounts because you just treat it like you'll lose nothing. That is why others prefer to have the live demo, as they know that every entry they've made is a loss if they didn't follow the strategy. The demo is really useful in back testing your strategy because you know if it is profitable because if you do it in live, you'll lose a lot. It still depends on the trader if he wants to utilize the demo or live trading, as we learn.

Big help if you do really find it for the purpose of learning and not making yourself on taking some shortcuts when it comes to learning.Demo accounts is really suggestable when learning or if you are really
having that zero knowledge and just like on what other people been saying above that it is good for familiarizing.

Some newbies wouldnt really be doing this and would rather be going into that going live directly despite on lacking knowledge to it.On the time that they would lose money
then they would be going to scratch and would really be realizing that they should be knowing those basics.This is why its essential that you should start from bottom.

in my opinion, the demo account is not bad, before i got into the world of real trading ^{(real live)}, i used the demo account for a long time for learning and also honed my skills in trading> such as technical skills. 

but there is a big difference when we use a demo trading account and a real trading account, the mental pressure we receive when using a real trading account is really bigger than when we use a real trading account ^{(the most real pressure is fear of losing money in trading)}

i advise newbies to try trading with a demo account before actually trading with a real account ^{(using real money)} so that expectations in trading are not too high and will also have preparation for the worst possible scenario when trading.

Demo accounts are actually a big help for us especially for beginners who want to learn to trade without risking money. But know that live trading is a totally different scenario unlike when you are just a trading with a demo account. Your skills and strategies will be tested, as much as your emotions will matter a lot. And that’s the reality in live trading, at least you should be more exposed to it and let yourself experience losses that will eventually turn into future profits when you’re already a pro in it.

Very wrong type of approach on things on which you do really believe that this is something that could give money instantly or on a very short of time which is really that a misconception or something that would really

be driving you to be desperate on which you would really be missing out on doing the right thing just because you do already have instill into your mind that making money with trading might really be that simple or easy.
On the time that you would really be having the actual dealing or experience then this is where realization would kick in but its already late because you have lost that much because of bad decisions.
This is why its really that important on learning about the basics on which having these demo trades is never been that bad at all but the fact these are the most preferable learning steps on where
you should start on which familiarizing on things on what needs to be familiarized.

First of all we have to remove the thought from our head that we have to make money by trading because when we trade with this thought, a lot of pressure will work in our head due to which we will not be able to study enough about trading properly. One thing we have to keep in mind when we learn about trading is that this learning is purely my own and I have to learn first don't let your brain think about financial matters because whenever your brain calculates financial gain your learning will not be complete. I feel that trading with demo account is slightly safer than live account and trading in demo account is much easier than live account.

Totally agree with you that 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.

Agreed, demo trading is only good to get acquainted with the trading platform. Skills that require for one to be a good trader such as emotional resiliency never come through it. People try demo trading, increase numbers there and dive into real market which never works out well.

When trading using a demo account, there are no emotions involved; you are simply testing your previously backtested technique to see if it works in the real market. Forward testing is another term for it. The difference between demo and live accounts, however, is their execution due to emotion.

One month is enough time to test the system and see if it works, so if you're profitable and happy with your winrate, you can go to a live account.

1 month should be sufficient if we do speak about familiarizing but this is just my own personal opinion because there are traders who could really make out 1-2 weeks on using up demo before they

would decide on going with real balance on which i would say that it isnt bad because on the time that you are familiarized with those indicators and tools then it would really be just that right
that you would be able to make yourself get prepared for the real market engagement. It wont really be that so easy though but the rest of the learning would really be acquired through real
market experience. You shouldnt prolong yourself into demo account because this one cant really teach you out in terms of emotional handling or something that
it is really that connected to risks management because this would be particular be gained through real experience with real balance.

Me personally, yes, I will use a demo account even if it's only for a while. Its function is that, especially for newbies, a demo account will help us at least to understand more easily the mechanics of trading on the exchange. Sometimes, it will be easier for someone to learn directly rather than reading some theory. Although this does not risk our own money, but at least it can help us to understand earlier and get used to some of the features and uses of trading.

Indeed, demo account is very useful when you are a newbie and while still learning to trade, a way to prepare and enhance your knowledge and skills. And all the things that we have learned can be applied in actual trading but can't expect that the results are the same as what we experienced while using the demo account as it was totally different. And this is because we feel no worries when trading that we never use our money and even if we make a wrong decision that was still okay. After all, even though we are spending 10 years using a demo account we can't see a perfect trade, mistakes often to happen no matter what.

Demo is the only way to know how the trading system works. Even till date I use demo account, why! Because each time I wait for breakouts and retest I already placed trade in demo. So when I just check if the trade is doing well or bad I will go check on trade view if it still remains at same price no need of stressing my self going to trading view 😁😂. But never the less, demo will give you the experience you need. Only if you are ready to learn from it.

Demo account is strictly for people who do not know how to trade and want to master the art of trading.
One should not spend plenty of time on a demo account or else there is a tangible reason for that . Trading can be very easy and interesting when using a demo account because we don't feel anything on whether we are losing or gaining. This makes trading to look very easy to traders especially the newbies, that is why when this kind of person that had been trading on demo for too long finally go live, they will start making crazy loses because they never felt it at all.

I'm totally against the demo account because I think a trader will never learn real trading experience with a demo account. The person is trading with virtual money and there is no gain or loss during the process. A trader who isn't having any emotions during trading process is totally a newbie trader because he/she would never learn what the trading is, and how losing could cause sadness and emotional damage. A trader who does trading with real money learns the steps with experience that how he/she could save his/her current capital and earn more money with the help of trading. Such traders always try their best to do proper technical analysis and research the news articles related to the pair they are trading.

A good level of trader is not created over night, a good trader becomes good because of experience of trading with real money. During the process of trading the trader learns from his/her mistakes and fixes those mistakes in next trades. The more a trader trades the higher experienced he/she becomes. The trading experience is not only limited to learning technical analysis only. A trader also needs to learn other skills like emotional control during the trading session. If a trader has no control over his/her emotions then such traders can never be profitable in long run.

Demo trading will never be able to give you real profits as you are only trading not for real. So you have to experience live trading as it's the only way you will have the chance to improve your knowledge and honed your skills so you can take advantage when trading in the market. Although I have to say demo trading is quite helpful for beginners, but demo trading will never be good in the long run as it will only limit your abilities and capabilities to trade unlike when you push yourself trading even with a small amount of money as you are still susceptible to losses.

There are no new interesting things in the demo account.  Demo account is like main trading account, demo account trades with fake money and main account trades with original money. the purpose of using a demo account is to gain trading experience without financial loss. I don't think or know of any other motive.

Demo account to me is not absolutely bad. One can use it to learn many strategies and it also helps to get one acquainted with the trading and the broker's display features. The experience can not be compare with real/live account in whatever way. The feeling and tension associated with trading on live account is not there and as such one might be less serious and ignore to apply strict monitoring.

Speaking from experience, I do forget I enter a market some times when I was still trading with demo account simply because I have nothing to lose but everything change when I switch to live account. The emotions itself won't allow me to take eyes off my pc/phone. Conclusively, one can make use of it to learn the basics of trading like how to enter markets, select pairs and setting of lotsize etc. But using it for a longer time than required is a complete waste of time.