Demo account with real account experience

[senumouv]

I’m new to live trading and ended up overtrading, got too excited maybe because I was making good dollars while in demo

Oh no! Overtrading is a very dangerous thing. Try to stay away from that even if it’s on a demo account.

 

[senumouv]

Demo accounts are alright but one shouldn’t spend too much time on them. After a while they have nothing new to offer.

I have to disagree with you. It is not like demos don’t serve any purpose at all. Like I’ve been trading on them with XM and Fxview for some time and I think they have done nothing but improve and added to my trading style. Something I would not have had with live accounts without losing a lot of money. I think they work if you’re actually serious about trading. Just my thought.

 

[Nanpeatear]

You’re right. Saying this after spending and wasting months practicing on a demo account only to realize that the spreads quoted in the live trading are much wider as compared to the tighter spreads that made trading profitable in demo.

Did you try making your demo realistic by excluding orders that you would haven’t filled in the real trading? Also there are options like factoring in the slippage, not going over the board with the capital amount, and incorporating the external stimulus making the demo wins and losses real.

 

[Tommcurrans]

Stimulus trading with huge capital I believe will give the trader an unrealistic safety net Paul. Don’t forget that a loss on the smaller account is much difficult to recoup.

 

[christielowe]

Did you try making your demo realistic by excluding orders that you would haven’t filled in the real trading? Also there are options like factoring in the slippage, not going over the board with the capital amount, and incorporating the external stimulus making the demo wins and losses real.

What about the instruments and the volume traded in the simulator? I ‘don’t think a demo trading can replicate the real capital

 

[Nanpeatear]

Stimulus trading with huge capital I believe will give the trader an unrealistic safety net Paul. Don’t forget that a loss on the smaller account is much difficult to recoup.

How about trading the exact small capital in a demo account that you’ll be doing in the live market? There are brokers who allow traders like us to trade a fraction of the demo account capital. Give a shot to fxview, pepperstone, or avatrade. might work similarly well how it did for me.

 

[elizabethf]

What about the instruments and the volume traded in the simulator? I ‘don’t think a demo trading can replicate the real capital

Like @Nanpeatear said, try out brokers that offer demo accounts with live quotes with a virtual portfolio to rain in live conditions. I suppose you can learn to analyze the price action, support/resistance lines, chart figures, and how the currency pairs work. It’s really about the broker you select, believe me.

 

[Goreseno]

Working on a demo account is simply necessary in order not to lose everything at once on a real one.

 

[shawnaboyd]

How many of you knew that support and resistance are the worst places to put your stop loss?

 

[elizabethf]

How many of you knew that support and resistance are the worst places to put your stop loss?

Hah I’m no Einstein but even I know that almost every trader puts stop loss at support and resistance and that’s why it gets hunted so much. What one should know is how to avoid it. Any thoughts on that?