Topic: Who should own a demo account? - page 2. (Read 686 times)

Demo accounts are useful, but as you state they cannot really let you experience all the stress and anxiety that comes with trading with money on the line, and it is in that step in which most people fail, as you could do everything perfectly while using a demo account as it is easy to remain calm and collected when there is no money at stake, but once you use real money things can get really hectic, which is why no one really knows if they will become a good trader, until they actually try and see for themselves if they can deal with all of that pressure.

If you are interested in learning the basics like how to use indicators, stop-loss, etc then having a demo account is worth it. Most of us nowadays just want to earn and not learn, hence a demo account is not ideal if you just want to make those random trades like buying meme coins and hoping for 10x.

But that said, I do feel trading with a small amount is a better idea than using a demo account because the risk and tension you will go through in real-money trades can't be matched or learned via demo trades. So it really depends what you can afford and how you want to approach trading and based on that demo account may or may not be worthy.

Demo account is mainly for newbie traders with limited funds for practicing how to trade before going Live atleast to have a feel about how trading would look like in real trading, however demo trading can be a different ball game from Live trading this is based on my personal experience when I started trading, some traders who have enough funds still started live trading by funding their trading account with small funding until they became consistent in earning thereafter added more funds to their account to earn more profits, whichever away every method the major  is becoming a profitable trader.

actually, the demo account is just to introduce the features of the exchange. Likewise, beginners can learn to apply the trading strategies they learn. demo account is for beginners only. And of course, those who have done some real trading will prefer trading on their real account.
or if you see a new exchange platform and you want to try trading there. Trying with a demo account also doesn't hurt when we want to get the difference from other exchanges.

We must also consider that even if a trader were to find a more profitable strategy this does not mean that they will be able to successfully apply it, whether this is because the strategy is too difficult to implement or because it does not suit their style, traders should do well in remembering that even if updating and optimizing their strategy may seem like the right thing to do, sometimes the best path for them is to simply keep applying the same strategy until it becomes second nature to them, instead of changing their strategy over and over again.

It might seem like a nice idea to always try out new strategies using the demo account but,
As a trader that has gone live for sometime, trust yourself to have some good enough experience not to be frightful of what is in the charts and what the market throws at you, not having to trade live is hardly an option.
Every time counts and every time you are out there trading and isn’t getting the experience in the best or worst case, it often feels as though your not doing enough.
You don’t go on a demo because the loses aren’t going to come, your still sure to meet the loses when you go live. The market changes everyday. If your experience at it is good enough to have been live for sometime and remained in profit, you could as well keep up even with a new strategy.

Owning a demo account does not matter with your current position or status in trading. The fact that you want to prevent maximum losses when in real trading, then I think creating a demo account first is important. But I just want to clear out that having a demo account does not guarantee trading success, your real performance in live trading is the one that matters most.

But if you asked me regarding this demo account, I think this is not necessary at all as long as you have enough experiences trading in the market. But if you have hesitations to jump in real trading, then everyone is free to use demo account first for your own convenience.

We can think of a demo account as a training ground for us to prepare for real combat and use the same tricks and characteristics. It's true that the majority of senior traders are still actively using their other demo accounts too, without a demo account it will be quite difficult for a trader to train themselves. Trading is not an activity that can be carried out casually and easily, it requires thorough preparation for all of this, and using a demo account is quite helpful.

Owning a demo account is not limited to anyone. It can be both used and benefited by a newbie or even a pro trader, it depends on their individual"s choice. But mostly, it's the newbies that are owning demo accounts as they are still learning the process of trading, and they have to test their strategies first before they will jump into live trading.

While it can be an advantage for newbies, however it can also be useful for professional traders. Trading using demo account will try to assess your strategies and skills before conquering the real live trading, but it does not guarantee that you'll be free from losses no matter how hard you try with demo account first.

If ever you arent that still confident when it comes to your trading knowledge and skills then dealing up yourself with demo is never been that a bad idea. If you do make yourself that rushing up on live
without even having the knowledge even with the simplest terms and those tools then you would really be ending up on messing up your finances or simply with those trades and this is something
that you must really that avoid and as much as possible then it would be ideal on making some back test on making use of demo trades but of course you should be wary that this is really just that for backtesting
and making out some realization because on what are the things that you have acquired here would definitely be not the same when you are already on the actual field.

Emotional factor isnt something that you could be able to learn or get with demo trades. Yes, you might be good when it comes to TA but time will come that you would be able to
realize that emotion handling and discipline would really be also crucial but you cant really be able to make learn of these things via on demo trades.

I am not an experienced trader but it is common sense that demo account is for those who are new to trading and have no experience. And as a beginner, 3 months is enough for you to learn the basics and practice the usage of your platform. After then you should move to a small account with fund it with as low as $300. There are things you will learn from that you will not learn from demo. Beginners may not take demo seriously because losing money there doesn't mean they lost any actual funds. With a demo account the brokers let you easily win without any risk just to let new traders think everyone can make big amounts of profit. You start paying real attention from using a small live account.

I think every new trader or newbie should have a demo account. If a beginner was not shown and explained what a demo account is, then the one who taught him how to trade is a bad mentor. After all, at the beginning it is so important that a beginner at least understands the exchange interface, so as not to waste his hard-earned money.

A demo account or demo trading is ideal for newbies and pros. For the newbies, once they get a trading strategy and not quite confident to make a trade they can test repeatedly using the demo account if the position, execution, risk, etc. so once they try the actual trading is they know what will happen with the opportunity comes, for the pros, there's no limitation once you learn trading doesn't mean you cannot try another way of testing their newly knowledge or discovered strategy again, trading is continuous learning for lessen the risk and higher the profit management so don't limit yourself with just a piece of knowledge.

A demo account is a pointless waste of time, both for a beginner and an experienced trader. For a beginner, this is not necessary because he will not learn anything new there, because without real money, a trader will act differently than he would make decisions with real money. The same applies to testing a new strategy, you will not be able to receive reliable money if you trade without the risk of losing funds, this will not be a complete analysis and, accordingly, you will not be able to understand how well the new strategy works.
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The usefulness of a demo account is limitless and what you use it for might not be what others are using it for. For the new traders, it is a very good means of learning the market risk-free and will still afford them to know all the necessary things that will make them successful in it. For the experienced traders, they might need the demo account to continue to upgrade what they know in the market and even learn extras when they deem it fit that using the real account could cost them a lot.

Till now, I continue to use a demo account despite having many years of trading experience and I have never seen a reason why I will not continue to use it. Because as I earlier said, the usefulness is limitless, and it's until a need demands for it that you know this importance at times.


I knew you would say this, but to me, it's not a disadvantage of a demo account, but rather an issue with the people who use it. Even though you called it a disadvantage, there are still many people who are serious about it, so we should not down-talk it simply because people do not use it as they ought to.

So, it's left to anybody to learn and train all that is needed about trading effectively or beating around the bush. Either way, they will reap the result in live trading either good or bad. The choice is ours, the demo account will do all it is supposed to do.

It is true that you could have experiments there, I do end up using my real account for real trading and investment, but when I learn about a new way to trade, I use my demo account to test the new idea and see how it goes, and depending on the results I keep trading at demo account for months sometimes, because ı want to see it working in multiple situations.

There are some that I stop very quickly, when it's obvious that it's not working, I still continue on demo to try some of them to see maybe it was wrong for the start and I did something wrong and then it will get better, but most of the methods I try that start horrible for 1 week, will stay horrible later on. But if I find something that ends up profiting for a long time, I keep trading that way on demo for months, to make sure it's good, before ı start using it at my real trading. This method rarely gets bad results, it is a great way to get rid of terrible trading methods and find some very good ones.

op I have never used a demo account myself. But I had some problems with the account I use, then my friend told me about the demo account that it is very good to use. I have not used the demo account myself, but I have a lot of faith in this account. So whoever wants can definitely use Demo account.

There are uncertainties in cryoto trading, because of the risk of loses, therefore it is not a bad idea to have a demo account to try new experiments. Especially for newbies in trading, they need to start with demo accounts, to familiarize themselves with the outcome of readings, how easy it is to lose everything in a very short time. Although the disadvantage of demo account will be that the traders using it might not put in the seriousness required for actual trading, because even if they lose, it won't be real coins. So if a trader has to use a demo account, let him put all the mental work that real trading requires.

You can use demo account to test your new strategy which will work well for your experiment. Since the demo account contains fake money, the profit loss here will not change your final status. So you can experiment with your strategy here as much as you want. And if your new strategy works well then you can apply it in real trading and make real profit. This is a good plan so I appreciate your such thinking. carry on mate

When testing a new strategy traders cannot really afford to use real money, they must use a demo account or simply paper trade their strategy, and only once they have determined that the strategy is any good then they can use their limited capital to trade the markets with it, now I can understand why some good traders may believe themselves to be above demo accounts, but since testing a new strategy could make them lose a lot of money, I do not think they have any option at all.