Can I really learn forex with DEMO

[arabiabipns]

Demo trading account is like learning driving on small and cheap car. But trading with real money, is the real deal. So, after demo account period, the trader should work with real but small amount of money. After that, the capital will increase according to experience of trader.

 

[e_abrams]

It's more like learning to drive on a car simulator. The actual car does not exist and you can't feel the bumps on the road. Sooner or later one has to get in a real car.

 

[Credcy]

I must say that demo trading is very useful to train yourselves for live trading especially for new traders, it doesn't involve risk of losing any actual money and also makes you well aware about the trading platforms.

 

[stacyalexander]

Demo trading will let you practice and backtest your strategies but it will not teach you how to control your emotions while trading.

 

[fxbee]

Yes, demo trading helps in tuning your forex skills, I still do demo trading on some accounts.

 

[JoshEvansFX]

Alot of people ask this question often if they can actually learn to trade the forex market with demo account.

Well the truth is, forex requires both skills/strategy, Psychology and money management.
Out of these three essentials, DEMO account only make provision for one and that is SKILLS/STRATEGY

With the forex DEMO account you wont be able to completely perfect the other arms of forex which are even more important than strategies itself.

In summary Learning forex can be okay with a demo account but if you want to fully perfect the fullness of a trader and beome a pro at what you do.

Then you must learn to go real as soon as you perfect a good strategy

For a start you can use a small balance and with time you can increase your stakes and gradually learn to become more in control of your funds and also your emotions

Cheers and wish you best of luck as a beginner

Yes of course you can, probably best to start on demo rather than losing money. Or if you want to experience live - stick to 0.01 lots on a small account.

 

[Variss]

you can't master market psychology through demo trading

 

[{0v0}]

In my opinion a demo account is very good for beginners because you can try out all the things you are learning and get a feel for markets without worrying about losing money. It is an experimental stage where you can freely practice with different instruments and different timeframes and various technical tools and decide what suits your own circumstances and personality and objectives.

But once you have a strategy in place that you seriously think is right for you then it is better to trade a live account with small size positions, e.g. microlots, so that you also get a feel for the psychological pressures of living with open risk and watching prices oscillating her and there as it progresses on one direction or the other...

 

[Crash101]

Yes you can learn to trade on demo. I would strongly encourage you to develop a strategy that is rule based and you can apply to a market and then trade it for 14 days. Your trading strategy has to have a set of rules that you are going to trade with and for one complete set of 25 trades you dont change it. Test it out and see how it goes. Record on a tab each trade and whether you kept to your rules. This is compounding your mental learning. When you have completed 25 trades which obey your rule set, look at the profit you have made and then when you apply it to a real account you will be trading with less fear as you know that as long as you keep to your ruleset everything will be fine. You break your ruleset then its going to go petetong wrong.

Does this make sense? Its about training your brain to act the same way all the time for your strategy. This is what I have been doing now I have worked out I am a very fast time frame trader and it works for me. I am much happier, I can see the wood from the trees and everything is making sense. This is the way guys!!

Good luck in your trading and you dont need it!!!

Regards

Crash101

 

[e_abrams]

you can't master market psychology through demo trading

But you can master learning how the market moves. You can master strategies, you can gain experience, you can test strategies and ideas safely. All of this is just as important as having a strong psyche. You can be stone cold and if you don't know how to actually trade, you'll still lose money.

 

[HeavenLeighGill]

I really liked how you explained that! A lot of people say there isn’t a point in trading on a demo, but you pointed out the reasons why demo accounts are beneficial along with what they fail to cover.

 

[Variss]

Demo account is good for learning market strategies, building and testing strategies

 

[e_abrams]

Indeed. And I think those are all pretty valuable functions too.

 

[reecerispoli1]

yes 100% i know some seriously professional traders from hedge funds still use a demo to tweak there strateies. and they use the demo wen they arent feeling trading live because market conditions arent right

 

[Martial-Mason]

Yes, you can learn from trading with a demo account. I'm a beginner, and before I entered into live trading, I use the FP Markets demo account for practice.

Most demo account brokers provide e-books and video tutorials to learn about live market trade and how to use the platform's software to trade in the market.

 

[sharabela]

Trading on demo account is the first step to learn trading. Obviously, a trader does not feel the real heat in demo trading. Nevertheless, it shows the true complexion of the Forex market to some extent. If a trader is confident with his strategy, he may start with a small account and tiny lot. By getting more confidence with live trading, he may increase his trading capital and trading lot to make a good earning by trading.

 

[Glossy]

Demo trading helps a lot in testing your strategies in practice.

 

[Dutchy86]

Alot of people ask this question often if they can actually learn to trade the forex market with demo account.

Well the truth is, forex requires both skills/strategy, Psychology and money management.
Out of these three essentials, DEMO account only make provision for one and that is SKILLS/STRATEGY

With the forex DEMO account you wont be able to completely perfect the other arms of forex which are even more important than strategies itself.

In summary Learning forex can be okay with a demo account but if you want to fully perfect the fullness of a trader and beome a pro at what you do.

Then you must learn to go real as soon as you perfect a good strategy

For a start you can use a small balance and with time you can increase your stakes and gradually learn to become more in control of your funds and also your emotions

Cheers and wish you best of luck as a beginner

The only thing you won’t learn is the emotional side of trading with real money but other than that it should help massively and definitely something I would advise

 

[Fried_Rice]

You can definitely learn the basic, but expect to adjust when you go live. You may not be as successful as you were on demo due to reasons already stated. Emotions being the biggest factor IMO

 

[crazyforfx]

Using a demo account lets you test out numerous strategies when it comes to trading and figure out what works best for you and your individual trading style. But emotional management can only be learnt once you start with live trading.