Importance of demo

It helps you in getting the understanding of a real trading as beginners and as for experienced traders, they can backtest their strategies.
 
Understanding real trading happens only when one trades with real money, but demo is still an indispensable instrument for newbies.
 
Evrardmakon said:
By no means can we ignore demos but I still think they are overrated. At the back of your mind you know that it is not real money, so you won't be really burdened with emotions as such. Better to use a demo for a couple of weeks, get acquainted with the system, and start your real practice with a low minimum deposit broker. Like Fxview or XTB. You can start trading with just a few dollars and see if you’re able to trade the same way as in demo. Losing a few dollars initially is worth the teaching and the experience it would give for lifetime.
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There are both execution and trader related differences. Even the spreads are different. Demo is just a risk free trading environment. The only benefit I found using them was the control of emotions. But again it only works if you treat it like a real account. Not identical to live trading in the majority of aspects.
 
Evrardmakon said:
By no means can we ignore demos but I still think they are overrated. At the back of your mind you know that it is not real money, so you won't be really burdened with emotions as such. Better to use a demo for a couple of weeks, get acquainted with the system, and start your real practice with a low minimum deposit broker. Like Fxview or XTB. You can start trading with just a few dollars and see if you’re able to trade the same way as in demo. Losing a few dollars initially is worth the teaching and the experience it would give for lifetime.
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Virtual money can’t compare real money
 
Evrardmakon said:
By no means can we ignore demos but I still think they are overrated. At the back of your mind you know that it is not real money, so you won't be really burdened with emotions as such. Better to use a demo for a couple of weeks, get acquainted with the system, and start your real practice with a low minimum deposit broker. Like Fxview or XTB. You can start trading with just a few dollars and see if you’re able to trade the same way as in demo. Losing a few dollars initially is worth the teaching and the experience it would give for lifetime.
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I am into demo trading since last 3-4 months. Is it the right time to switch to live?
 
elizabethf said:
I am into demo trading since last 3-4 months. Is it the right time to switch to live?
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Well, you only have the best answer to that. Depends on how much learned during this period. If you feel you can bear the losses with respect to the scale you are investing, then absolutely. But note there’s only a little that demo account could help with real time scenarios as you still might not be prepared for that. If I tell you about me, I used to spend hours interacting with other traders via online discussions and video calls. When I started with Fxview, I wasn’t too confident with my strategies which is the case with almost everyone who has just stepped in. With time, things seemed in control, however, I still try to discover new things to learn that I could possibly implement.
 
Demo is like learning how to drive or fly on a simulator.
Does that make you a good driver or pilot? Would I trust you with my life after simulator training Vs hrs of the real stuff? No way.
 
In order to start trading on a real account and confidently use the platform, you need to try all this first on a demo account, and then it will be much easier.
 
There are those who underestimate the demo account and immediately start trading on a real account, it seems to me that this is quite risky and thoughtless.
 
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