Importance of Demo Account/virtual account in Forex

[pepy]

That means really have to be careful before jumping into real trading. The most part of it is that we need to give out time with our demo account for months inorder to be a good match while trading with real account but the problem is that most of us wants to start earning fast without giving time to develop our skills with a demo account.

then forex is not a good place for you, please look for the other online business if your mind still like that, remember forex is not quick rich scheme, this one is risky place where you can gain some bucks, you trade and not invest here which you need knowledge about them also you can sharpen your skill in demo account if you really want to trade in forex

[tirus]

I believe that it is important to take as much time as you need to make sure that you understand the basics and can use the demo account to your advantage at this stage to put the theory into practice. It really does not help spending a day in a demo account if you are not yet comfortable and throw yourself into trading with a real account.

[Sixteen]

Yeah you are right, we need time to develop our skills in forex with a demo account. Jumping into real account is not the best thing to do at a particular time. The demo account is there and if we wish to be a good trader in the future, we have to pratice always with this demo account our forex brokers tends to offer.

[pepy]

I believe that it is important to take as much time as you need to make sure that you understand the basics and can use the demo account to your advantage at this stage to put the theory into practice. It really does not help spending a day in a demo account if you are not yet comfortable and throw yourself into trading with a real account.

but from what i see not all of them put the theory into practice, they just pretend to be trader and then wannabe trader that only post based on people opinion without ever see the fact. and taking risk is part to be expert or successful trader , so i think spending day in demo account still fine, but once you must take risk to trade in real account because that is the other important part which you will get bucks

[Sixteen]

It will get bucks for sure but every forex adviser will firstly say we should start up with demo account so that we can really know how the market tends to work and furthermore improve our trading skills in other to earn good profit in the real forex world

[tirus]

I guess it would also depend on how you approach the demo account. If you are serious and do show that even when dealing with a demo account then you will likely be able to use it quite well. You may not have nothing to loose since you are not dealing with real money but taking it seriously will help with the learning process and eventually when you switch over to a real account.

[pepy]

I guess it would also depend on how you approach the demo account. If you are serious and do show that even when dealing with a demo account then you will likely be able to use it quite well. You may not have nothing to loose since you are not dealing with real money but taking it seriously will help with the learning process and eventually when you switch over to a real account.

and don't forget one thing even you don't loose enything in demo account, you cannot gain anything in demo account too, so it is just place for newbie or the people who don't want to take any risk in forex and trying to make their trading skill will become better

[Cutiekc]

To break it down demo account is just as the same as a test drive.its just used by forex trader no just only the newbie because some expert do test their analysis with it likewise newbie do test their trading skills.

[pepy]

so far i am still with demo account mostly for my trading and i feel great with how i work there even in some time i still suffer with a great loss from my own mistake, but at least i still see great progress from my trading skill and it seems this place good for every traders

[tirus]

The good thing though is that you are getting used to the trading platform, how it works and how to go about making trades practically which is what you will be doing in a real account. Its better to familiarise yourself with this here as when you are under pressure and trading with real money, the last thing you want to worry about is not knowing your way around.

[riddick09]

Yes, that's the purpose of demo is to actually understand and learn the trading platform which is usually MT4. But then as always we can use different instance and setup in our demo accounts thus we can easily adjust our trading strategy without risking it with the real trading account therefore, it is always necessary to use first demo account in strategy we want to try.

[tirus]

But then as always we can use different instance and setup in our demo accounts thus we can easily adjust our trading strategy without risking it with the real trading account therefore, it is always necessary to use first demo account in strategy we want to try.

 

This is where both newbies and experienced traders can stand to benefit as well beause you can get to test out your trading strategy in here as well. A trader can also adjust their trading strategy in here as they see fit till they feel confident enough to go back to live trading without loosing their money in the process.

[riddick09]

Yes, that's why we can do most of the things in the demo account so we will able to have those probable problems or difficulties or if it is profitable for us or not. We'll see that it is the best way for us to increase overall performance in real trading. I also tried and I guess many forex brokers have contests for that account.

[pepy]

Yes, that's why we can do most of the things in the demo account so we will able to have those probable problems or difficulties or if it is profitable for us or not. We'll see that it is the best way for us to increase overall performance in real trading. I also tried and I guess many forex brokers have contests for that account.

about the last posts i think many forex broker did that thing as we know many popular or newborn forex broker offer the contest for demo account and the prize is great too and i think that will motivated some newbie to trying trading more in forex demo account, but as long as they don't lost any money, why not?

[tirus]

This can workout to the advantage of the newbie because they now have even more incentive to take the demo account more seriously. The main thing is that because of the notion that you do not loose nor gain real money when trading here they can do as they please and just start over. This should help increase the stakes are there is now more to gain.

[monyitomon]

Yes, that's why a demo account is necessarily especially for a newbie as they would need to prioritize themeselves with Mt4 platform how to open trades, use indicators etc. A demo account is important, even those professional still using a demo account.

[tirus]

Its better to do this in such an environment as opposed to learning the trading platform while you are busy with live trades. When you are using real money there is no time to learn your way around the platform and it can actually distract you from making sound decisions.

[pepy]

Its better to do this in such an environment as opposed to learning the trading platform while you are busy with live trades. When you are using real money there is no time to learn your way around the platform and it can actually distract you from making sound decisions.

learning could be everywhere, but if in real account which we used our money, our learning will be not relax or not easy just like what we did in forex demo account, it will become more harder for us since we are not relaxing and always mix up our emotion when want to trade

[tirus]

It can never be easy to trade in a real account because there are obviously a lot of factors that come into play and most importantly, there stakes are much higher because you actually stand to loose real money. This is where the emotions set in when you realise this and it can cloud your judgement.

[riddick09]

That's why as much as possible we have foreseen it in demo trading although, its not easy to trigger those emotions as usually we can only see or feel it in having real trading, So far, in technicality there's no problem in demo and real trading only we can't assure of good trades with our emotions if ever we need to avoid or learn from it in demo.

[pepy]

It can never be easy to trade in a real account because there are obviously a lot of factors that come into play and most importantly, there stakes are much higher because you actually stand to loose real money. This is where the emotions set in when you realise this and it can cloud your judgement.

yeah you got the point here dude, that is not easy but that is not impossible, right? i know there are a lot factors that affect us when we trade in real account, just like our worry and many psychological thing, but if you somehow can manage your emotion i am sure that you can earn well in real account

[tirus]

Yes, at the end of the day it just depends on how you handle yourself whentrading for real. Unlike in a demo account and because of the various factors and pressure that is in a real account, one has to be focused and try to keep their emotions under control to be succesful here.

[pepy]

Yes, at the end of the day it just depends on how you handle yourself whentrading for real. Unlike in a demo account and because of the various factors and pressure that is in a real account, one has to be focused and try to keep their emotions under control to be succesful here.

of course that is the key but you know the only problem not only emotion that people have but also the strategy that they used and the market itself too. but in demo account we can eliminate that all , because the money we used also virtual so that is why not so much big load in our mind when it come to trading

[budado]

In demo we are in demo to practice our strategy and not to trade money. This is the problem of most newbies they use demo account not because they have strategy in mind. Ask this newbies what indicators they use and what strategy they are trying to practice and most of them don't have solid strategy at all. Also if they have strategy they don't usually concentrate on their strategy. They are more concentrate in how to earn money.

[riddick09]

Yes, in demo we are not dealing how much profit we will have but to check or test the strategy we will use if its working or worthless to use. As we don't mind yet about the profits we will get in that demo trading. But if we have done great in demo already then that's the time we will think of real trading and real money and concentrate on gaining profits.