The success of a trader depends on his/her skills. Directly jumping into live trading is pointless if you don’t have the skills and a workable trading strategy. So I suggest you start trading with a demo account and then move to a live trading account.
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Demo account or Micro ?
- Thread starter Ahmed Solaiman
- Start date
demo is good but the result of trading most of the time be useless , because in trading demo we cant feel emotions.,As a beginner, trade with a demo account. Financial markets are very risky and it is impossible to set a foot in the market without practise. After enough practice and a strategy in-hand, you can start trading with a micro account.
Agreed! Traders can switch to a micro account after practising on the demo account. Micro accounts help traders to develop right trading psychology.As a beginner, trade with a demo account. Financial markets are very risky and it is impossible to set a foot in the market without practise. After enough practice and a strategy in-hand, you can start trading with a micro account.
micro and demo is the same thing , there is no technical difference between two. just the difference there is only the Mentality.
Use a demo for building and practising your skills. You can also rely on building trading strategies. But use a micro account, when you feel ready to jump into live trading. With micro accounts, you can take small risks and learn about trading in the live trading environment, which will gradually prepare you to take bigger risks.
If you have no experience in trading, it is good to use the demo account to practise and familiarise yourself with the broker platforms.
If you have experience in demo trading and are confident enough to trade live, the micro account is a good place to start to avoid high risks and losses.
If you have experience in demo trading and are confident enough to trade live, the micro account is a good place to start to avoid high risks and losses.
I totally agree with you on this as forex is very volatile, one should practice enough before trading on to the live platform.As a beginner, trade with a demo account. Financial markets are very risky and it is impossible to set a foot in the market without practise. After enough practice and a strategy in-hand, you can start trading with a micro account.
There is sense in what you have said, but this doesn't undermine the importance of demo trades. Newbies can't skip this stage of the market as demo gets you familiar with what you are getting yourself into.beginners always trade in a demo account for acquiring basic knowledge and experience but in practically they trade at random and got nothing ultimately. for that reason i think micro account is more appropriate for beginners as practice. whats your opinion ?
It’s badly essential for traders to have both fundamental and technical knowledge of the market.