Can I really learn forex with DEMO

[e_abrams]

I think one can learn quite a lot on a demo account - certainly enough to create a solid of base of knowledge on which to build further.

 

[Oswald]

demo is a good starting point, before going live with little capital

 

[Colin Lewis]

demo is great to test the settings on EAs, always helpful to have one running

 

[e_abrams]

It is helpful to test one's own manual strategy as well. "When in doubt, use the demo account" has always been one of the principles based on which I trade.

 

[sunar14]

Yeah it's possible to achieve excellent results on demo, however when you want to repeat this success on live you will likely fail because trading conditions on real account often wipes out exchange. It concerns the most trading systems based on speed and which rely on very low spreads.

 

[e_abrams]

To each their own, I guess. If that is what works for you, then that is what works for you.

 

[Credcy]

Exactly and it works because I am very confident about my approach and strategies. I wouldn't be going live even with the micro account had I not done a thorough market research, which is what I suggest to people, that there is no hurry to go live. First get all the knowledge, do their due diligence and then get started with a micro account.

So true! The first step is to have sufficient market and forex knowledge, only then you can place the trades appropriately.

 

[thekid]

To each their own, I guess. If that is what works for you, then that is what works for you.

Your post is telling me that it did not work out for you? How are you faring with demo account?

 

[e_abrams]

I have been using a live account for a while now, but I did trade on a demo for quite a while before that. I think it definitely helped me.

 

[miltonparks]

Demo accounts work great when you have to practically test what you have read and learned about while studying the forex market. As no real money is involved, it helps build confidence and prepares for live market conditions.

 

[Dutchy86]

Yeah you’ll definitely learn although don’t take everything as gospel as with real money you’ll get slightly different entries and results

 

[Black Bobble]

A demo account is an obligatory step in becoming a trader.

 

[sunar14]

Yes you can however you should expect some deviations in live trading from demo results mainly due to higher transaction costs like slippage and wider spreads.

 

[Kevin1744]

I think you can learn to trade through the methods you have with the demo account, which helps you to test the feasibility of the strategy you are using. But real trading needs more than that, it needs psychological and financial management, which a demo account can't help you.

 

[Jungletrader]

It gives a good grounding when you can make successful trades on demo .
Sure it lacks the emotional side of trading but the practice is hugely beneficial

 

[rickfx]

You're right... except the strategy, demo doesn't help there either.
Any strategy requires money management, planning, self-control, emotionlessness... demo delivers none of them.
Demo as the name implies is there for the broker to demonstrate their trading platform and for you to try it and see how it works... that's it... it's not designed for learning to trade.

 

[e_abrams]

I think that if you trade with a demo account that is similar to your live account it can train you well to do money management, as well as self-control, at least aspects of it.

 

[no_frame]

I'd say yes. You can learn one about forex with demo, though you will be missing out one important aspect - psychology of money.
Using demo allows you to get better in forex trading and giving you a full experience in learning about how forex trading work.

 

[e_abrams]

You put it very well, actually - psychological trading is just one aspect of trading after all. A very important one, yes, but there is no harm in learning the rest without any undue stress.

 

[e_abrams]

True, these days people have so many sources of information about trading. I cannot imagine how difficult it must have been pre-Internet, both to learn and to actually trade.