Demo accounts shouldn't be compared to real or live account because at some point, someone tracing demo account with so many positive entries might decide to get into the real market and just floop.
There are several differences between demo accounts and live account and some of this difference makes it more difficult to trade because of its strict nature of the job.
I always tell people not so see demo accounts as a practice tool for trading but rather be seen as learning floor where one especially new ones are given the opportunity to learn about that particular broker and get a clear picture of what his getting into.
Topic: What is your honest review of the Demo account? - page 8. (Read 1082 times)
I tried a lot of demo accounts when before but I am not convinced. It is helpful, especially to newbies but I still prefer trading real money but with a small balance if I am a newbie trader. In trading with demo accounts, your emotions are not the same as when you are trading with real money. So you will be lax, you are not scared if your trade is not moving in the right direction and the effort might not be the same when you are trading with a real account. As to the testing of indicators, we can easily check the reliability by checking the previous charts and performances.
I do recommend it to newbies. And when they are doing well (serious or not), they can open a real account and fund it with a small amount of money because this is the real testing of your skills and analysis happens. So only when you are profiting from a real account you can decide to grow your capital.
Whats the point on using up lots of demo accounts considering that they do give out on the same function and over all purpose? If this one is to test out a particular platform then i would say that it isnt really thatI do recommend it to newbies. And when they are doing well (serious or not), they can open a real account and fund it with a small amount of money because this is the real testing of your skills and analysis happens. So only when you are profiting from a real account you can decide to grow your capital.
much of a concern, considering that they are really just all the same.They might differ on some UI/UX application but in overall concept which it does give out on the same idea and target out which is to make
a profitable trade.Demo accounts arent really that something bad to start with specially when you are a complete newbie.Just like the rest been saying that
emotions is the thing that wont be mold up and enhance on this demo trade and this is where you could find it on actual trades.
For me, the real trading education starts where demo trading ends. What do you think?
I agree on this. I don't think demo account/assets could help you in any way to learn the trading. That is why it is said that start your journey with small amount just for learning. Also, what you can afford to lose. So it is important to lose some in order to gain some. And if it's not real money, then you will not feel the emotions which will push you to learn more in order not to lose again.
But you need to make sure that you can find out your faults and work on them to improve yourself. Learn from your mistakes and become the best at it.
Finally, if you had experience with demo accounts, then the answer is simple. It doesn't help to learn the advance level of trading from which you can make profits.
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.
Yes I accept this view that demo trading is to get use to the platform and the indicators to travel all the corners of the platform but talking on the emotional challenges, demo doesn't not give that courage because at a point in demo you begin to see loss of interest and a kind of assurance that all is set. Demo trading is fake money and real trading is real money and that is where the emotion is
For me, the real trading education starts where demo trading ends. What do you think?
This is the reality, you learn real trading when you begin the real trading. Demo is what can only get you acquainted to the platform.
I tried a lot of demo accounts when before but I am not convinced. It is helpful, especially to newbies but I still prefer trading real money but with a small balance if I am a newbie trader. In trading with demo accounts, your emotions are not the same as when you are trading with real money. So you will be lax, you are not scared if your trade is not moving in the right direction and the effort might not be the same when you are trading with a real account. As to the testing of indicators, we can easily check the reliability by checking the previous charts and performances.
I do recommend it to newbies. And when they are doing well (serious or not), they can open a real account and fund it with a small amount of money because this is the real testing of your skills and analysis happens. So only when you are profiting from a real account you can decide to grow your capital.
I do recommend it to newbies. And when they are doing well (serious or not), they can open a real account and fund it with a small amount of money because this is the real testing of your skills and analysis happens. So only when you are profiting from a real account you can decide to grow your capital.
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?
In my opinion demo accounts are a great tool to get familiar with the ins and outs of trading and we can learn a lot from it. It depends all on our motivation and mindset towards the demo account to make the experience as real as possible. The first time I got involved with demo accounts was back in highschool, we had in my last few years always a stock trading challenge sponsored by one of the big banks. We were basically trading real stocks and options on a paper account with some prices for the top 3 traders at the end. Even though you don't really feel the wins and losses you can make it a real experience if you believe in it. The same thing I would recommend to do when trying out trading for the first time. It's our own decision to be emotional invested in a demo account or not, if we start the whole experience thinking that it's not real money anyways than we will probably not learn a lot. Demo accounts are a great way to test our strategies and see how profitable we would be in the real world.
A demo account is necessary in forex but not necessary in cryptocurrency trading in my opinion, at least in spot trading.
Spot trading is not very risky so I find it is better for a novice trader to start with small capital and learn real trading slowly rather than spending a long time in demo trading without getting real risks.
I think the real loss (although it is painful) is a better teacher than the demo account.
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Spot trading is not very risky so I find it is better for a novice trader to start with small capital and learn real trading slowly rather than spending a long time in demo trading without getting real risks.
I think the real loss (although it is painful) is a better teacher than the demo account.
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What is your honest review of the Demo account?
Do you think that should spend so much time trading on a demo account?
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I can see a lot of people complaining about demo accounts versus real trading accounts. Some are saying when they are trading demo accounts, they are profitable but when they start to do on real trading accounts, they get a lot of losses most of the time.Do you think that should spend so much time trading on a demo account?
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What I can say about is, that is normal. That's how trading works, you can't get always 100% guaranteed win trades.
The demo account is not bad, it is just a place where you can practice trading if you are a beginner and have no idea about the trading activity here in cryptocurrency.
Now, when you get and master the movements, you can go to the real world of the trading industry, it seems like it's just an image that everything you do here is just a dream that doesn't have to stay long.
Practice and try to have a good grasps on market movement which is something that you do need to realize and learn up on what are the indicators you would be using.Just like other people been sayingNow, when you get and master the movements, you can go to the real world of the trading industry, it seems like it's just an image that everything you do here is just a dream that doesn't have to stay long.
above on where emotion isnt something that you could handle it out or getting it having in control.Demo trade is only good for technical basis but not for emotions because if we do speak
and talk about real money deal then it would be an another story for us to deal with. You cant learnt up everything in one go and this is why
you should really be that mindful about your actions.
The demo account is not bad, it is just a place where you can practice trading if you are a beginner and have no idea about the trading activity here in cryptocurrency.
Now, when you get and master the movements, you can go to the real world of the trading industry, it seems like it's just an image that everything you do here is just a dream that doesn't have to stay long.
Now, when you get and master the movements, you can go to the real world of the trading industry, it seems like it's just an image that everything you do here is just a dream that doesn't have to stay long.
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.
We must understand what Demo Account is created for. Mostly, exchanges or certain platforms provide Demo Accounts to help any newbie or new user in the platform to at least know and understand the ways to have transactions or trade. So, a Demo account is helpful for new users who are likely to love to earn at first before taking action at the beginning. This will help them understand at least the scheme. Although the demo account is not a real-time market, at least this will help to understand the scheme and how the market is running.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.
And of course, if we are no longer newbies, we don't need it to play. What's for? if we have been usual and understood the platform? So, it will definitely depend on the user itself.
Yes, it is really that indeed helpful and something that recommended when you are really that a complete newbie which you would really be needing to learn up with those basic principles and later on,
you would be needing to jump into other space and go for live trading on this where the place you would be able to apply on what you have learned.The most or primary thing that you would
notice is that emotion would really be your main enemy which you havent been able to train up when you are doing demo trades.
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.
We must understand what Demo Account is created for. Mostly, exchanges or certain platforms provide Demo Accounts to help any newbie or new user in the platform to at least know and understand the ways to have transactions or trade. So, a Demo account is helpful for new users who are likely to love to earn at first before taking action at the beginning. This will help them understand at least the scheme. Although the demo account is not a real-time market, at least this will help to understand the scheme and how the market is running.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.
And of course, if we are no longer newbies, we don't need it to play. What's for? if we have been usual and understood the platform? So, it will definitely depend on the user itself.
Demo account will only give you a clue of what you actually gonna experience when in the real live market minus the emotion because there's no emotion that is being attached when practicing on a Demon account until when you start trading with your real money, then that's when you gonna feel the heat and face the real business, by then you would now realize that your profiting strategy will no longer be working as before and the whole thing will now look like a scam to you.
The bottom line is, first of all practice with Demo and get some knowledge that will help you navigate when start trading in a live account.
The bottom line is, first of all practice with Demo and get some knowledge that will help you navigate when start trading in a live account.
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?
I agree with you, Demo trading is far from the real stuff, with a real guide that has good experience, you can easily get acquainted to a trading platform in less than a week or a few weeks less than the time you will spend on demo accounts, depending on how fast you can learn. Demo trading is important but not always necessary if you can manage the risk that come with trading live and loosing small amount of money that you can afford to loose to learn. Being exposed to trading live can do two things to you, It can either discourage you or make you into a really good trader. If you do not get discouraged first by losses, you will turn out to be a really good trader emotionally and by strategy. 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?
I do not recommend spending a lot of time, especially for beginners, because its main purpose is to understand the trading environment, know the available options and reduce human error to the lowest possible degree, then you will not need a demo account.
Its importance enables the expert user, as he tests the trading strategy, whether it is successful or not, and the extent of its effectiveness, as a lot of time should be spent studying and analyzing the efficiency of the strategy before starting trading.
Dude, I'm with you on the whole trading scene and options game! As a pro trader and crypto-fanatic, I can vouch that it's like mastering the art of the "legen-wait for it-dary" playbook. You need mad skills, patience, and a sixth sense for market vibes.Its importance enables the expert user, as he tests the trading strategy, whether it is successful or not, and the extent of its effectiveness, as a lot of time should be spent studying and analyzing the efficiency of the strategy before starting trading.
Demo accounts? Cool for newbies, but they ain't the Holy Grail. Trading's all about risk-fu, and demos don't teach you the emotional kung fu of real-world trading. Wanna crush human mistakes? Level up with knowledge and research, bro. Get the market lowdown, crunch data, and forge a killer strategy.
For the trading jedis, demo accounts are like secret weapons to tweak and polish their moves. Study, analyze, and nail that strategy before you go all-in with real dough. Remember, trading's no magic money-making ride; it needs hustle, control, and a cosmic level thirst for learning.
The demo account should only be used as a trial use of the platform instead of honing trading skills.
This was a hot topic of conversation in my country, because based on some research of pro traders, it turns out that some demo accounts of certain trading platforms are set up to always be profitable so that encourages new users.
This was a hot topic of conversation in my country, because based on some research of pro traders, it turns out that some demo accounts of certain trading platforms are set up to always be profitable so that encourages new users.
If you notice, the pain is different than the one felt when you actually experience a loss on a live account.
This one what makes me rarely use demo trading if possible. It's okay to learn basic trading mechanic and trying out your strategy before using it in real-trading run, but like you said you won't feel any lost and happiness if you win and lose in this demo account because you don't own the money, once you have the money and similar cases happen, you would feel the difference in your emotion to make correct decision.It's fine as learning purpose, but take a note that you need to do it in real-trading run if you want to be successful.
It's like we use a real knife to cut fruit and a fake knife. A fake knife will never cut your hand and bleed, but with a real knife it can. Trading with demo accounts is a bad idea because even if we use them hundreds of times, we will never get a feel for real trading. Let's start with a real account from the beginning, although losses are inevitable, it will give you experiences, experiences that demo accounts never provide you.
This really depends on the trader because first, if the trader has no money or just enough money for a real account, he should go to a demo account. If you have enough money, go for real and lose some because you can learn a lot from mistakes, but my preference is to use a demo because I always want to backtrack my trading records and see if it is working.
I do not recommend spending a lot of time, especially for beginners, because its main purpose is to understand the trading environment, know the available options and reduce human error to the lowest possible degree, then you will not need a demo account.
Its importance enables the expert user, as he tests the trading strategy, whether it is successful or not, and the extent of its effectiveness, as a lot of time should be spent studying and analyzing the efficiency of the strategy before starting trading.
Its importance enables the expert user, as he tests the trading strategy, whether it is successful or not, and the extent of its effectiveness, as a lot of time should be spent studying and analyzing the efficiency of the strategy before starting trading.
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