Demo account useful for beginners only - page 10
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You got $1000,000 for what? Demo account?
On your demo account you can get as much as you want - isn't it so?
If you do automated trading, with many demos you can do N:N testing, i know a guy which operates 240 MT4, testing all possible settings against each other to get the whole and global view of 1 trading system.
By and large, traders especially the newcomers are willing to earn profit from this trading place without learning. So, as a result almost 90% traders are failing in this volatile trading place. Due to starting in trading in a wrong way, they have been failing in this platform. Because, we the traders don’t believe the importance of demo account that is considered as a foremost source of basic information.
I don't think so that demo account is only for beginners, even the expert traders can easily use demo account for several purposes.
I don't think so, I have traded more than two years in hotforex, but still often use demo account to test and revise trading strategy,
Actually, From my first day of trading, I have been seeing that the majority of the Forex traders do not believe the importance of demo account and they take it as like practice game. But I took demo account very seriously when I started Forex. And I also acquired most accurate fundamental knowledge that is very helpful to predict the real faction of market with certainly. I opened a demo account as my trading platform devoid of any kinds of restrictions. In demo account I had used many trading skill that I gathered. Although I do not like to take high leverage but I used a towering leverage in that demo account to see how it works. It is the best source for improving trading skill for oneself.
Even beginners should not get stuck for too long on a demo.
As per my opinion, Demo account is useful for everyone. For the novice traders, it is helpful in learning the basics of trading. And for the veterans, it is helpful in testing their strategies. But the point is demo account fetches you benefit only if you take it seriously. Some traders believe that Demo account is worthless. As with the demo money, you don’t trade with discipline. When you know you are not trading with your real money, then you don’t care to lose, and so you can make all the possible mistakes, like taking positions with any trade setup (either weak or strong) you see, taking positions while there is no trade setup, over-trading etc. It will be a disaster if these bad actions become a habit in you. They believe demo trading causes the novice traders not to learn to trade with discipline, and this will be ended to failure finally. On the other hand, if you take trading seriously, you can develop confidence to trade in real account. Confidence is one of the most important factors in forex trading. we need to be grow up our confidence, knowledge and trading experience through demo account.
Demo accounts have helped me a lot when I was starting trading. I also use it from time to time, just to try different strategies I come up with.
For making profit constancy, we the traders generally are willing to be a knowledgeable trader but practically we don’t like to trade in demo account that is considered as a master place to gather all important financial indicators that drive the whole market place.