i have seen more than 100 topics about demo and live dispute in Forex community.
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- Thread starter Peace11
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school is good but as a practice account i think demo is perfect, but beginners level always skip demo account.
Do not let your emotions make your trades. Maintain a good trading psychology. This’ll let you make trading decisions
Yes, it is a very common topic. I started with demo trading. What about you?i have seen more than 100 topics about demo and live dispute in Forex community.
I think all new traders should start with demo account. That is pretty the best place to practice what you learn and develop a strategy that can be successful for you.
demo is important , no way to ignore . but the result we take from trading actually not works when in a real account . that is the main problem.
Hmm, this is a valid point. I really your vote f confidence and definitely took your advice, started with a small capital though and building gradually. Though I still go back to demo for practice occasionally.Time to go live, man. The training wheels must fall off. The longer you stay in demo, the more scared you will be to get live. Just shut off the demo, NOW! Go live!
Is there really any justification for long periods demo trading?
Firstly there should be no need to invent or prove a strategy. If its your first experience in trading, its unrealistic to expect to invent a brand new strategy which nobody ever thought of before. The first strategy should be an old strategy.
Secondly, the strategy should be simple. It should take no longer than 2 days to learn.
The demo experience is just confirmation you can recognise the set-up, the entry techniques, order setting and position sizing. And you understand the mechanics of your broker's platform.
After that, there's only two things price can do - go up, go down.
Firstly there should be no need to invent or prove a strategy. If its your first experience in trading, its unrealistic to expect to invent a brand new strategy which nobody ever thought of before. The first strategy should be an old strategy.
Secondly, the strategy should be simple. It should take no longer than 2 days to learn.
The demo experience is just confirmation you can recognise the set-up, the entry techniques, order setting and position sizing. And you understand the mechanics of your broker's platform.
After that, there's only two things price can do - go up, go down.
For a newbie I would suggest to go through some pipsology course and should definitely try your hands on demo account before going live.