Who should own a demo account? - page 5.

Catenaccio

full member

Activity: 364

Merit: 115

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

Demo accounts can be used for trading or investment with DCA strategy. It is useful when you want to test a strategy for your trading or investment but Demo is not like what you experience with actual trading or investment. Because when you use real money, you will be affected by emotion, greed, panic and a lot of psychological things. With Demo accounts, you won't be affected by those things.

Demo trading
https://cryptoparrot.com/
https://bitcoinflip.app/
https://www.altcoinfantasy.com/v3
https://testnet.bybit.com/en/
https://testnet.bitmex.com/
https://testnet.binancefuture.com/en/futures/BTCUSDT

Demo investing with DCA. Create your accounts and have demo DCA.
https://coinmarketcap.com/portfolio-tracker/
https://www.coingecko.com/en/portfolio

Sebas.tian

full member

Activity: 1974

Merit: 147

Quote from: Tigerheart3026

i have been experienced in demo trading but when i was newbie trader, but now i think i don't need to trade in demo account,
because now in my every trade is well researched before deposit money in my trading account,
and i also realize that difference between demo and real trading how help it for new traders, so only beginners should own demo account not for expert traders,

Many newbies are used to this demo account, because is very easy for them to control to ensure they achieve something good from their trade, and it has helped many traders to grow higher in a standard way in the community. Once you are now a old traders in the community, you will begin to avoid demo account because you need to tell yourself that you are above that category, and you are no longer a new trader in the community base on some of the professional things you will display for people to know that you are above demo account. Experts traders will not make use of demo account, because they will begin to see themselves as a waste of time in their trading, because there are many ways they can use their professional career to make a good income from their trade without using demo account.

passwordnow

hero member

Activity: 2926

Merit: 570

Leading Crypto Sports Betting & Casino Platform

Even the most profitable trader have that stats that he's got losses and losing streaks. Those that want to keep learning from the market and experiences can open anytime they want to with demo accounts. No one's stopping no one when they want to open demo accounts and to learn more about trading.

This is what's good with the platforms that have these features. They're free and helping their customers learn about the market without hesitation through these features of having free demo accounts for one to learn about the movement of the market. It is not common for most crypto exchanges to have this because most of the known ones don't have demo accounts.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

There is no restriction to who can own a Demo trading account, a new trader or an expert trader. I know many traders may feel like they are now bigger than demo accounts, and only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

I don't think using demo account is the only way from saving you from your losses in trading. As long as you manage to trade an at amount you are comfortable to lose, and you analyze the market well before deciding to trade, as much as you have tested your strategies if they still are working, then that could actually minimize your losses in trading. Using demo account is mostly a beginner's option, but when you become experienced in the market, it's more on practicing trading with caution and consistent exposure in the market through live trading will honed more to be a pro and successful traders.

However, using demo trading or not is up to the trader's decision. But it does not actually guarantee bigger chances to make you a productive and successful trader in the process.

Zaguru12

hero member

Activity: 672

Merit: 855

Quote from: Tigerheart3026 on November 26, 2023, 12:35:45 PM

i have been experienced in demo trading but when i was newbie trader, but now i think i don't need to trade in demo account,
because now in my every trade is well researched before deposit money in my trading account,
and i also realize that difference between demo and real trading how help it for new traders, so only beginners should own demo account not for expert traders,

Just like everyone says, a Demo account is not bad to have a even for a pro because they can able to test some strategies but i Will say even if the there’s demo account ones this emotions isn’t there you would think other wise, the real trade is usually having something to lose that will change the narrative of it, so it is not everything that got perfected on demo that could materialize on the real platform

Hamza2424

legendary

Activity: 938

Merit: 1028

#SWGT CERTIK Audited

There's nothing wrong with trying a demo account to enhance the trading experience and trading strategies, but this is what newbies try, if an experienced trader is also trying out his new strategies and risk management on the demo account it really questions what kind of seniority he possesses.

TBH, an experienced trader is well aware fo all the risks nd his devised strategy of 80% performs well, so he should try out things in the real market, where he should acknowledge what things should be taken into count while playing with new strategies. The newbies should practice things as much as they can on the Demo account.

BitMaxz

legendary

Activity: 3234

Merit: 2943

Block halving is coming.

I think most traders do have demo accounts for experiments and to test strategies not just newbie should have this but expert should also have this to test the new strategies they made on updated prices while using demo accounts.

It also saves your investment on live trading when the strategy you made fails.
Usually, the purpose of demo accounts on exchanges is to help their new customers and they allow newbie traders for free to become familiar with the trading tools.

Timmzzy

member

Activity: 784

Merit: 34

👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

There is no restriction to who can own a Demo trading account, a new trader or an expert trader. I know many traders may feel like they are now bigger than demo accounts, and only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

I own a demo account @ O.P I basically use it always to back test my strategies even if am 100% sure of my setups I still make use of demo even when I take live trades too I still enter the trades on my demo account. And yeah many do make fun of those who use demo account as if it's a one huge crime trust me demo helps a lot.

JunaidAzizi

full member

Activity: 364

Merit: 146

Play Bitcoin PVP Prediction Game

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

Do you as an experienced trader that has made a profit from the market repeatedly, do you still have a demo account for trying out new strategies?

A demo account is an account which is free of loss. In this account, people use virtual money in trading and gain knowledge and experience through it. This is a fearless account where the new trader can do trading without any fear of loss. This account is only for newbies or beginners but the experienced trader can also use it for developing new strategies. This will help a new trader to adjust to the crypto world, testing their strategies and making their psychology better. So in this case I think that a demo account will be important Both for the new and the experienced traders do not get fear of Money loss but to test their strategies that will be better in the actual trading or not.

Nrcewker

copper member

Activity: 2156

Merit: 536

Building my own Dreams!

Definitely you should have a demo trading account. Whether you are expert or newbie, it’s always beneficial to keep a demo account. Newbies can use the demo account to learn trading. On the other hand expert traders can use this to analyse patterns and try out strategies. It gives confidence to the traders, and traders can practice trades here without fearing about funds. Here in demo account the atmosphere makes you feel like you are trading with real conditions. So it’s good to have a trading account.

Hamphser

sr. member

Activity: 2436

Merit: 324

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

There is no restriction to who can own a Demo trading account, a new trader or an expert trader. I know many traders may feel like they are now bigger than demo accounts, and only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

In speaking about demo accounts then it would be something open for everyone whether you are a noob or a pro but most likely it would really be that relevant when you are just starting with trading.

Familiarization on how indicators works and on how to know about those other terms and other related thing on which it would really be that relevant for you to deal with demo
but there are something which you cant really be able to learn via demo alone which you could really be only be able to learn with live trading on which i do talk about emotional
aspect and psychological approach. You cant really be able to enhance yourself if you are that focusing on demo.

This is why on the time that you do make out some familiarization on what those terms and indicators then test out yourself on live market
using up real funds.

TakeItEasy

sr. member

Activity: 1622

Merit: 270

Undeads.com - P2E Runner Game

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

There is no restriction to who can own a Demo trading account, a new trader or an expert trader. I know many traders may feel like they are now bigger than demo accounts, and only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

One thing I should noticed in the Demo accounts may be the traders can learn many things in these demo accounts about the trading but when they came to real trading and in the sense they go to some exchange may be that would be Binance or any other Exchange then there would be some difficult situation for the person who was first trading at demo account. Because in the demo account, not a single percent of the sell pressure on the person would be present from the start to the end of his trade where he would learn trading in the demo account.

Although I had show you only one thing, even there are many more like this, I was told only about the sell pressure yet. But he could suffer from more and then there will be different areas he should have to pass then.

mk4

legendary

Activity: 2716

Merit: 3817

🪸 NotYourKeys.org 🪸

I'm pretty sure "expert" traders backtest their strategies — by using their indicators and checking if it would've been a good idea to use said strategy historically; not through the usage of demo accounts.

If anything, there's almost zero reason for an "expert" trader to use a demo account, besides for shits and giggles.

Tigerheart3026

full member

Activity: 885

Merit: 112

Sugars.zone | DatingFi - Earn for Posting

i have been experienced in demo trading but when i was newbie trader, but now i think i don't need to trade in demo account,
because now in my every trade is well researched before deposit money in my trading account,
and i also realize that difference between demo and real trading how help it for new traders, so only beginners should own demo account not for expert traders,

Oshosondy

legendary

Activity: 1414

Merit: 1118

...gambling responsibly. Do not be addicted.

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

There is no restriction to who can own a Demo trading account, a new trader or an expert trader. I know many traders may feel like they are now bigger than demo accounts, and only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

I have not used a demo account before. I prefer to use like $1 to test new strategy and see it in a way that is not demo.

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

Demo account will let a trader not to be a good trader because the trader will trade without no emotion involved. But it is for beginners. When I was a beginner, I used $0.25 to a open position and it helped. So beginners do not also need demo if they can use small amount of money like $1 to practice.

hugeblack

legendary

Activity: 2492

Merit: 3612

Buy/Sell crypto at BestChange

Not using a Demo trading account is considered a form of arrogance, and thus a trader will end up thinking that he understands everything about the market and suddenly loses everything. Therefore, as long as you want to trade, learn from everyone, listen to everyone, and try your plan in Demo accounts, and then you will get a better vision than investing without thinking.

Eternad

hero member

Activity: 1176

Merit: 593

When life gets hard BUY Bitcoin!

Quote from: Queentoshi on November 26, 2023, 12:06:49 PM

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

I’m not a pro trader nor newbie but I never use demo account until now because I’m not a hardcore trader that trading every price movement or in regular basis.

Trader can simply use small amount as test trade using their own account since trading with real money involved has different impact on decision making instead of using fake money.

Queentoshi

sr. member

Activity: 728

Merit: 308

There is no restriction to who can own a Demo trading account, a new trader or an expert trader. I know many traders may feel like they are now bigger than demo accounts, and only new traders should have demo accounts for demo trades, but I think that to avoid losses still, expert traders should also have demo accounts for trying out new strategies before they try it live. What do you think?

Do you as an experienced trader that has made profit from the market repeatedly, do you still have a demo account for trying out new strategies?

Topic: Who should own a demo account? - page 5. (Read 621 times)