I like to test some strategies there as well, that's a good method. I mean I know that its not that easy to find a good one right away, so why not try it on a demo account first and see if it will hit and it will be good, if not then I could remove it. That way I can spend as much time as I want to on testing it, literally could have 10 different accounts and 10 different strategies running together for many months before I make my decision. No need to rush, no need to make a decision, I am not losing any money anyway, its just free. This way I make sure if it works or not, and if it keeps on working for many months then I give it a try. It may end up failing even after that, but the ones that fails on demo usually end up being the worst ones so its much better not risking any money this way.
Trading requires more techniques in handling our trades, I do triggered trades on my own without the knowledge from others, whenever I noticed an entry, I immediately triggered my positions and setting TP and SL, sometimes I earned and sometimes I record losses. Failing and attempting again is what basically results to consistency, the only way to keep pushing until one achieve the ultimate target in the market. Executing different strategies is recommended inother to select the one that best suits our trading style. Demo accounts do prepare us for we should expect ahead, because it's not a live account and we have absolutely nothing to lose.
Using SL is really just good when you do make out some short trades but if we do speak about long term or wide or swing trades then it wont really be that necessary.It is always been best that you should really know
on how to identify a perfect entry although it cant be perfect but somewhat really that considered to be a good spot to trade in.It doesnt matter on how we would really be doing it, what matter most on here is that
you do really know on what you should gonna do. Demo accounts is really that good on testing out a certain strategy on which you would really be that having the idea on when it should be used.
We know that most people would be directly be making out trades on actual phase on which using up with real money.I would say that it isnt bad but it would be wasteful on losing money on just those trials
or on the time that you are still familiarizing but well this is a personal choice.
There are people who had been aware about demo account but still that pushing about on using up that live ones because they do really love to directly feel up the real essence on dealing
with the market with real balance, well its their choice to make in the first place.