Demo account useful for beginners only - page 2

LogicalTrader
5
LogicalTrader  

Lessons From Live Trading

techmac:
Agree : everything first demo and then, only if it survives demo, maybe on live

while demo testing is good for initial strategy development actual live trading provides ht best lessons. This has nothing to do with your choice of broker. It has to do with you as the trader and how you perform when there is real money on the line. i have found it useful to start with smaller size trades when you first begin trading on a live account to allow you to adjust to trading with real funds. Hopefully after a short time you will move away from focusing on the fact that its live funds and really focus or executing your trades in the correct way. If you focus on the act of trading and improve your trading skill set, profits will develop as a byproduct.

techmac
2973
techmac  

But I do trade live for quite some time now (a few years)

That is my advice to anybody testing any new system - manual or EA does not matter : no testing on a live account. My live account is my job, my demo accounts are my playground till it proves that it can be compatible with my job

LogicalTrader:
while demo testing is good for initial strategy development actual live trading provides ht best lessons. This has nothing to do with your choice of broker. It has to do with you as the trader and how you perform when there is real money on the line. i have found it useful to start with smaller size trades when you first begin trading on a live account to allow you to adjust to trading with real funds. Hopefully after a short time you will move away from focusing on the fact that its live funds and really focus or executing your trades in the correct way. If you focus on the act of trading and improve your trading skill set, profits will develop as a byproduct.
willyforex
109
willyforex  

I have more than 02 years of live trading experience. But to be frank I still have demo accounts to test new strategies and very risky trades.

brendanfx
119
brendanfx  
sheikhsignal:
Totally agree with you. I use it to test new strategy. Sometimes when I started to suffer a series of losses, I will remind myself to go back to practice account. Psychologically and technically, that helps.

Yep, That's how the forex trading should be. Otherwise we cannot get into the so called %.

sanfo
17
sanfo  

demo is necessary for you to choose a new broker, either for senior traders or newbies.

forexall
19
forexall  

I think demo trading is very useful not for beginners but also experienced trader. I have little experience of 2 years in forex trading. So I am not a beginner but still trading in demo to improve my skill without losing money

haikudetat80
26
haikudetat80  

Even though I have been trading live for a while now, I still have a couple demo accounts lying around just to test out new methods or just mess around with things that are too ridiculous to do on a live account. Demo accounts are useful for everyone, not just beginners.

PeterBrandley
270
PeterBrandley  

Demo account provides us a practice tool for the next real trading , we can not directly enter into the real or live trading account , until we are not practices well in demo account ,if you are in hurry you will certainly felt down by the hard tasking FX market , as a result your losses would be great and you will not be able to step back after investment ,so beware it wants a hard work and patience at all .

Aleksy
25
Aleksy  
taniaislam09:
A lot of traders are advised to train in demo account. So is it useful for beginners or advanced traders or both to use demo-account?

Yes, I do believe that demo account are useful for beginners but people don't realize that demo accounts are useful for intermediate traders as well. I've been trading for almost a couple years now and I still have 2 or so demo accounts lying around for when I have to practice a new method or a risky strategy.

Kalashnikov
32
Kalashnikov  

Now I'm on demo-account. I think for the first time it's really good for practise. I don't think that to lose all money when you're newbie it's really wrong way. Learning and practise om\n demo-account will help you to understand all main things I think...