demo is a place to prove yourself how can you handle trading strategies you have , so, don't ignore the demo , generally 6 months is appropriate for demo as beginners but its a long time for beginners level to keep patience in here, that's why i prefer minimum 2 months for that.
Importance of demo
- Thread starter NeilKruger
- Start date
Robert Morse
Sponsor
I would point out the difference between a "demo" and a simulator. We only offer demos. https://www.lightspeed.com/demo-request/. A demo is meant to show and become accustom to the functionality of the software while a Simulator offers that plus the ability to paper trade and stimulate real trading to a point. There is still no fear and greed and executions might be inaccurate or misleading. I would say a week should be enough to demo software and if a simulator is taking 6 months, you might not need help developing a process to pick your entry and exit prices.
That's a question of personal attitude with each individual case.
When i was into my journey with 10 different sims (over 2 years & still partially outgoing), i would get excited and depressed, as if it was a real game, since the results in reality, based on my approach - would be (and is) almost the same.
It's an important part to be mentioned, but it's being told/written, quite often, imprecisely.
(all around the web)
@NeilKruger , i absolutely agree with you. Great times we live in. Like the flight/battle simulators, that we can freely use.
NeilKruger,,
I highly disagree with you.
A trader should stay in Demo until they prove to make money.
Leave the demo when the following equation is TRUE:
Initial Balance of Demo Account = $XX,XXX
Leave Demo and go live when
Balance of Demo Account = 5 times $XX,XXX
If this takes 2 months or 5 years, who cares, you not losing money. Business expense will equal $0.00 for this work and you prove you make money.
This is what I'm going through currently. After I had experience trading live, then I treated the sim like real money. And I 100% have all of the emotional swings of real money. If someone can't figure out how to treat the sim like real money, they are in for some extremely expensive education. There's no need to take ALL of your beatings on a live account..
we cant focus in demo trading because no emotions in there and no real money , for that reason i i prefer live account with minor balance , it can be a loss project but of course very supportive to make sure live trading knowledge and experience.
Contradicting.
Unless if we speak about the general population by saying ,,we", then yes, most of the people
- can't.
Use you sim account to see if your strategy works.
Real money and sim accounts will have different fills (especially with market orders) but you should be able to see if your strategy works.
Trade the same dollar amount as you would if you were trading real money. Don't sim trade a million dollar account if you are planning on starting with 5 grand.
If you can't make money in sim, you will never make it real time.
Real money and sim accounts will have different fills (especially with market orders) but you should be able to see if your strategy works.
Trade the same dollar amount as you would if you were trading real money. Don't sim trade a million dollar account if you are planning on starting with 5 grand.
If you can't make money in sim, you will never make it real time.
Yeah, I think all of us have started trading with a demo account only.