Demo account; Is it enough for learning?
- Thread starter vicknic
- Start date
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My opinion is it's better to trade on cent accounts rather than on demo ones since cent accounts r real ones and u can feel a market..
Thank you for your honest opinion. It turns out that you are correct. Trading with a Cent or micro account is like demo trading because you are trading with the lowest money and this reduces the risk of practicing and losing a large sum of money. You can begin with just $1
demo is not the only way to learn Forex.. personal improvement, every day learning, practicing on mini accounts and communication on forums, exploring smith new...
I'm in favor of using Demo account. As long as the investor doesn't get enough experience to trade using the real account he should try and learn with the demo one first.
The only benefit from demo trading is that you can learn how to use a trading platform and all the tools on it. When it comes to trading part and developing a trading strategy you should use a small live account and trade there with your own money. Developing a trading strategy on demo account is useless, because what ever strategy you'll develop on demo account is not going to work once you move to live trading.
Demo accounts only give you a bit of experience as to what to expect when trading with real money but it is a different experience with real money. You need to make correct decisions because in the real money account you will lose real money, but in the demo you lose virtual money. No risk.
Demo account is only a part of training. You had better watch trading webinars or take some courses. You can read books. And, of course, you get the best experience when you trade with real account.
A demo account is a good way to learn your way around the trading platform, experiment with different timeframes, get a feel for the speed at which the market can move at times, and of course, test a trading strategy. BUT...a demo account will never test your ability to manage emotions. A live micro / cent account is the ONLY way to get a taste of the real action, and should form part of your education!
I totally agree with you demo account might be useful but not enough if you want to experience real trading to gain the needed experience then one has to go into live trading.
Using demo-account one can develop some practical skills. Of course, just demo-account is not enough for learning. You need also trainings, webinars, books, etc. But all the theory doesn't work until you try the methods by yourself. And you can do it without any looses only using demo-account. Or you can use some huge no deposit bonus at the beginning. Both ways help to save your money when you are beginner. I started my career at FF exactly learning at the demo-account and then activating no deposit bonus at the real one.
Yes you are right but Demo accounts gives you a real life market experience which helps you in understanding market , your theoretical knowledge will be answered in Demo accounts.
Will diferent experience practice use demo acount compared with real account especially about emotion, usually in demo account will free from emotion pressure and in real account wil involved emotion during trading and if we want to built up psychology trading we must jump to real account. demo account useful to forward test syetem trading built can't develop psychology trading in my view.
Nothing is enough for learning. Forex market is a big ocean in which as we learn more the things get more deep.
Demo account is definitely one of the good ways to learn forex, but actually untill and unless one start trading in the live environment the reality can never be faced.
Demo account is definitely one of the good ways to learn forex, but actually untill and unless one start trading in the live environment the reality can never be faced.
Demo account is only use virtual money, but still useful to learning, if any trader they want to learning how to use indicator like as bolinger band as trading based on these indicator, demo account is useful to backtesting as long as they obey rules indicator hence it will understand how trade using these indicator.
its very hard to feel like youre trading real money when its only Demo! better to start slow but with real money asap but you should know how the platform works too!
