Demo Account vs. Real Account
- Thread starter mumuy
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To begin with I would recommend to open Demo account. You can train your skills there and become more confident. Real account means real money and real losses, so here come emotions on board.
I totally agree with this post. I used the demo for nearly one year to test my strategy to get started with real money. However I think it will take a lot of time to trade the same as you did on your demo account. I found myself checking my positions more often even though I shouldn't according to my trading plan. However I always remind myself that I know that my strategy is tested and profitable in the long-term.
in my opinion, it's better to start off on a $1,000 live account versus a $100,000 demo account. The emotional intensity and lessons you learn on a live account can never be replicated on a demo account.
Try to use, where unlimited demo service available; I see few brokers are providing limited demo service like 3 months, 4 months demo.
Well yes its quite annoying opening new demo accounts after they expire because you have to start from a scratch in testing trading strategies, there is also no history, while moving the data to new account can take a long time. Currently I use Hotforex and as far as I know there is no time limits for demo use. Have been already using their demo account for a year.
Right! our psychology and emotions makes a huge difference between demo and live account.
Yep, it's true, but i'm really can earn a lot of money in demo and when i try real trading i'm losing ererything. Of course my depo about 50$ so it's no problem if i loose some money but why???))) I really can earn money .. I did x2 from my first demo depo in amarkets... what's the problem? what do you think?
There are some issues:
- you have no fear or greed while using demo, so you act rational
- sometimes you can execute some trades you will never open using real account, but the can also be very profitable.
Real account makes trader more conservative to prevent loosing money. Sometimes it is good, and sometimes not.
- you have no fear or greed while using demo, so you act rational
- sometimes you can execute some trades you will never open using real account, but the can also be very profitable.
Real account makes trader more conservative to prevent loosing money. Sometimes it is good, and sometimes not.
You shouldn't take any experience from demo account to your real money account I would say, it will be all different, but do not take it anymore than tutorial for some computer game and that's it. Really no more than that if you ask me, it's just obvious but still explaining this to you.
I find that demo accounts are excellent tool for every trader. Beginners will use it to get initial steps on Forex market and learn how to trade. Older traders will use it to test new trading method, research new indicators or maybe test some other system
It is true that demo trading is very important for the success of a trader, since it gives you ground for familiarising with the ,market and building your strategy. For the real experience however, I'd advise a trader to go for a micro or cent account before going into live trading
A perfect plan! Really, starting with a big balance would be costly; so, cent account is the smart choice.
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