myfxcontest Posted May 7, 2013 Share Posted May 7, 2013 demo account trading has its pro and cons. but IMHO much more pros. each beginner must start with demo account trading, if not starting out with demo account trading it will be very costly Quote Link to comment Share on other sites More sharing options...
chintu Posted May 8, 2013 Share Posted May 8, 2013 Yeah, thanks to Demo Account, we learned allot, if it doesn't exist, we will possibly always lose our investment. Because we cannot rely on the trading style we have if we will not able to practice it. That's why we should be thankful to Demo Account for this opportunity to practice EA's and our trading style. Â Â Actually demo account is one of the very best place where many of the traders will be making use of them to trade forex in a profitable manner by practicing with demo account . Since many years the usage of demo accounts are going on increasing that is just because most of the people know the value of demo accounts since the recent days . Quote Link to comment Share on other sites More sharing options...
Jeremi Posted May 8, 2013 Share Posted May 8, 2013 Demo account is a best way to learn and test your strategies. and it is our first trial before we used real account, it can be used for testing our new strategy too. Usually, demo account is used by newbie who tried trading platform in the first time, but forex expert used this too to test his new strategy. Quote Link to comment Share on other sites More sharing options...
humanhope Posted May 8, 2013 Share Posted May 8, 2013 Better we try to choose a server that is rarely used by traders, such as that provided by several brokers. But I guess it does not really flashy, because if we open orders in leisure hours are seldom experienced re-quote nor off quote. All broker which guaranteed, so choose a broker who has a supporting feature. Quote Link to comment Share on other sites More sharing options...
RodWell Posted May 9, 2013 Share Posted May 9, 2013 it is very important to test some strategies first and some indicators before trying it out on real trading. Like if we need to find what combination of indicators to use to be successful in trading better apply them in demo trading for some time. I think that we should do this to be safe and not lose money. Quote Link to comment Share on other sites More sharing options...
Jeremi Posted May 9, 2013 Share Posted May 9, 2013 Yea, that was important to know effectiveness our strategy first before we used it in real account trading. It will be useless to use strategy which is not working when we used it directly in real account. We will suffer some bucks for nothing. Quote Link to comment Share on other sites More sharing options...
humanhope Posted May 9, 2013 Share Posted May 9, 2013 I think that demo account useful to test new indicator or trading system because trader can't use it directly in live account without know these indicator or trading system useful or not to help us in trading. And so demo account is very important for me. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted May 10, 2013 Share Posted May 10, 2013 OR new trading strategy. Because, there are many indicators that are not suitable for the skills of the traders that's why often we need to determine which of which will be the fine one on our trading and before we proceed in our goal on Forex. Demo is only the way to train ourselves for the actual trading which can't be learned by just reading or in the resources. Quote Link to comment Share on other sites More sharing options...
sakai Posted May 11, 2013 Share Posted May 11, 2013 Well, I see that is the best use of demo trading to test out strategies. Besides learning how to trade. We should make all the mistakes we can in demo trading so that we won't be able to make as much mistake or avoid mistake as much as possible in the live trading. Quote Link to comment Share on other sites More sharing options...
RodWell Posted May 11, 2013 Share Posted May 11, 2013 For sure demo help us lots to test our strategies and if we really want to become good trader then demo have very important rule . but there was some people who really not want to used demo because of virtual money but we need to think first to learn then trade in real. Quote Link to comment Share on other sites More sharing options...
danielle27 Posted May 12, 2013 Share Posted May 12, 2013 You will noticed that traders who drop by in demo account, increases, cause they realize the humor and importance of this to our trading experience and for improving our skills. Demo account is very widely used by traders to enhance their strategy and to grow, for them to be able to have a chance in achieving success. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 13, 2013 Share Posted May 13, 2013 Like i said before, Demo account just like sandbox, so you can do anything with it, spend quite big funds to trade and maybe you intentionally make yourself loss and that is possible thing to do in this kind of account, since we know we won't get anything here, it is a good place to learn for someone who doesn't have much bucks to start in real account, or someone who don't like high risk at all. Quote Link to comment Share on other sites More sharing options...
budado Posted May 13, 2013 Share Posted May 13, 2013 its always good to keep on trading in demo account as its in demo account that we actually make good income. I do hope that we can constantly make some good income in here. I'm sure in two to three years time I can be a really good and successful forex trader. But right now what I just need is to make sure that I'm doing the right thing in here. As the more I trade in demo the more I can trade accurately in real account. Quote Link to comment Share on other sites More sharing options...
budado Posted May 13, 2013 Share Posted May 13, 2013 Demo right now are all live trading account. So we going to experience actual trading. the only difference between demo and real account is that in demo account we are using virtual funds while in real account we are trading real funds. I do hope to see myself earning good amount of money in here. I'm sure in two to three months time with continues trading we can now start in real account. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 14, 2013 Share Posted May 14, 2013 and we cannot earn from demo account, right? all is live and we can see market movement there, that is why some good trader advice to the other trader especially for newbie to trade in demo account if they want to feel what is trade without pressure and also No-Risk, since all is similiar only with few difference. Quote Link to comment Share on other sites More sharing options...
danielle27 Posted May 15, 2013 Share Posted May 15, 2013 Yeah, virtual money is the only difference of Demo to real account. But if we're trading in demo account, it looks like we're trading in live in real account. And to that, we will practice countermeasures, for us to avoid mistakes in real account. Demo gives us enough practice advantage to be able to plan and make a better strategy. Quote Link to comment Share on other sites More sharing options...
gaban Posted May 16, 2013 Share Posted May 16, 2013 Trading with demo accounts will not give us a real profit, because we use capital for trading is a virtual capital, but the demo trading is a suitable place to learn trading before using real account. If we want to practice with a bit of a challenge, maybe we can follow the demo contest. Quote Link to comment Share on other sites More sharing options...
rinaji Posted May 16, 2013 Share Posted May 16, 2013 Demo accounts are very important for beginers to start forex trading, I highly recommend about this because I had a bad thing early n my career in forex business. I didn't use demo with one specific reaseon. and I have failed in sustainable manner that makes all my money lost. Quote Link to comment Share on other sites More sharing options...
uncle gober Posted May 16, 2013 Share Posted May 16, 2013 Basically forex trading is very simple, just the buying and selling of different currencies, but to be able to get the results of these activities a trader require a strategy that can minimize the risk of forex trading which is quite high. For beginners traders, it is recommended to use a demo account as a means of finding and training a trading strategy before using a real account. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 16, 2013 Share Posted May 16, 2013 Trading with demo accounts will not give us a real profit, because we use capital for trading is a virtual capital, but the demo trading is a suitable place to learn trading before using real account. If we want to practice with a bit of a challenge, maybe we can follow the demo contest. Also the suitable place for us to experiment with our trading style, am i right? it is a thing that usually abused by new traders who usually already have good skills but prefer to spend more time which i think only waste their time if they don't move to real account, but still this kind of account truly help many traders Quote Link to comment Share on other sites More sharing options...
riddick09 Posted May 18, 2013 Share Posted May 18, 2013 Yes, we need to have test or evaluate what we have and what we've got. Because, demo will not simply cover all of the learning for the traders. And we must have real trading in order to find out other things we need to learn and need to discover. Since, it can't be told by the other tradings such as our weaknesses and specific reasons of our losses. Quote Link to comment Share on other sites More sharing options...
sakai Posted May 20, 2013 Share Posted May 20, 2013 It is important, not only for beginner traders but for senior traders and expert traders too. This demo account is starting point for beginner traders to learn about trading platform, it's risky to enter in real account directly. Demo account is important as testing platform before we used new strategy in forex market. Quote Link to comment Share on other sites More sharing options...
pepy Posted May 23, 2013 Share Posted May 23, 2013 Yes, we need to have test or evaluate what we have and what we've got. Because, demo will not simply cover all of the learning for the traders. And we must have real trading in order to find out other things we need to learn and need to discover. Since, it can't be told by the other tradings such as our weaknesses and specific reasons of our losses. That is right, people can use demo account to test or evaluate how much they growing, but that is only for skills and experience testing not for other side of forex which you don't get in demo account. sometimes i trade in demo account just for the sake of evaluation and it is very worthy to know what is my problem in last trading, if i am in profit i just keep trading,but usually forex demo account good for place to analyze market. Quote Link to comment Share on other sites More sharing options...
Samar Posted May 24, 2013 Share Posted May 24, 2013 well, I think that demo account is a good way to test your broker terminal before you put your money. Select the leverage and the balance in the demo account similar to the actual amount you are going to invest in forex. So that you can access your progress. Quote Link to comment Share on other sites More sharing options...
danielle27 Posted May 25, 2013 Share Posted May 25, 2013 Basically forex trading is very simple, just the buying and selling of different currencies, but to be able to get the results of these activities a trader require a strategy that can minimize the risk of forex trading which is quite high. For beginners traders, it is recommended to use a demo account as a means of finding and training a trading strategy before using a real account. @uncle gober, very well said friend. A trader will not determine if his new made strategy will work out just fine if he doesn't test it first or make some review or checking on it. And the best place to do that is in Demo Account, wherein we plan, we test, and we correct some errors. But not only newbies benefit from this, even pro' s test their EA' s, and make new strategic plan in here. So we should be thankful that it does exist. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.