The great importance of demo account for beginners

[SimpleMeLike]

A Demo/ Sim account is the only way to start.

If you have your proven strategy and you have back test it, and then give 60 trading days on a sim.
and you have a p&l which is what your back testing results gave you.

Then and only then can you move to the next stage.

Agree 1000%

 

[tomkat22]

In the words of that great and wise philosopher Sammy Hagar "To me it's all just mental masturbation" (paper trading)

 

[David's faith]

Demo is great but the real challenge are emotions

 

[sebking1986]

Hello mercury-croc,

From a business perspective, why in the world would anyone every trade real money LIVE without confirming they can make money in DEMO first?

That just sounds weird.

Answer is that gamblers do this and not those who view the industry and the $6tn a day business it is

 

[mercury-croc]

Hello mercury-croc,

From a business perspective, why in the world would anyone every trade real money LIVE without confirming they can make money in DEMO first?

That just sounds weird.

like @wrbtrader said: you'll be surprised how many idiots...
this is why I raised the discussion, just because I've come across SO many people who never used demo. To say I was surprised and confused is to say nothing.

 

[SimpleMeLike]

like @wrbtrader said: you'll be surprised how many idiots...
this is why I raised the discussion, just because I've come across SO many people who never used demo. To say I was surprised and confused is to say nothing.

Hello mercury-croc,

I met people like this too and here is why.

Because they have alot of money.

My friend "had" about $250,000 about 3 years ago and when I said I was trading SIM he said I was stupid and wasting time.

He went straight live about 3 years ago with no experience just like me. Today, he is down to about $22,000 from trying different trading approaches.

I am only down about $1200 in trading education.

 

[mercury-croc]

Hello mercury-croc,

I met people like this too and here is why.

Because they have alot of money.

My friend "had" about $250,000 about 3 years ago and when I said I was trading SIM he said I was stupid and wasting time.

He went straight live about 3 years ago with no experience just like me. Today, he is down to about $22,000 from trying different trading approaches.

I am only down about $1200 in trading education.

a story to remember, really. guess I'll be telling it to all these fellas out there. thank you!

 

[SimpleMeLike]

a story to remember, really. guess I'll be telling it to all these fellas out there. thank you!

Hello mercury-croc,

Unfortunately, I have a lot trading friends and people I have met lost tons of money trading.

I can go on and on. One young lady I know, lost about $85K in about 8 months from her folks life insurance policy.

This trading business is a cold game if your mind not right.

 

[Jakub Mitchell]

a story to remember, really. guess I'll be telling it to all these fellas out there. thank you!

Yes, and it is more shocking when many traders suggest not to waste time on a demo. I really can not understand them.

 

[NatashaDuddy]

You can’t cross the river if you don’t learn and practise swimming in the pool or else you’ll drown.
Demo is a great place for beginners to practise their trading strategy, understand the platform and the market movement.