Importance of Demo Accounts

[SweetPrincess]

well i dont think it's THAT important but people can always use some training before getting into smth money related

Yes, I do agree.. Forex traders must have proper trading experience and knowledge before you can earn good profit. Training is the key to success. Without proper training in the business, you will not be able to enhance your trading skills which can help you in the betterment of your trading techniques.

 

[Britney Alston]

The Forex market is the largest market of the World with a volume of $5.1 Trillion per day. You can easily make thousands of dollars in a day and on the other hand you may lose the same amount of money. So If you are new I suggest you to learn trading and test your learning techniques while using Demo account. When you have fully tested your skills, then invest your money in the market for profit.

 

[renez]

It's also very useful for the trader if the demo account is on one server, then you can calmly try trading strategies and learn trading in general, that way an understand of the market is formed and one gets used to the market.

 

[Ary Barroso]

Demo is the most decent way of learning Forex trading, but I also use back testing feature of Mt4 trading platform. Yes, no doubt demo is useful, but it’s a slow process! Besides, back testing is quick process! I used back testing after practicing my demo for 5 months.

 

[Michelle Yeoh]

Exactly it is! If a trader practices with a healthy trading capital but then start his/her live trading with narrow capital that would be dangerous! Because different parameters mean different experience! My demo trading capital was exactly 300$ because that was my live trading balance!

 

[john nathan]

Hi

Demo accounts are very useful for newbie as it helps to test all the trading conditions. Trading on demo account Provides a lot of knowledge and helps to learn trading fast and efficiently.

 

[Shaun Henry]

Demo account is extremely crucial because it gives you multiple ideas and benefit. Whether this is to do with figuring out the right strategy and method. Or, if it is also about knowing the right broker, it is all important part and makes huge difference to everything.

 

[awanasad6]

newbie can learn alot about trading by demo account they can access to real market and practice trading without any loss.it also help them to practice the new idea in their trades.

 

[Jeremiah]

Traders need demo accounts for newbies only at the beginning of their way. And then you can use them only to test indicators ar advisors, and that's it.

 

[levesquepaul453]

Demo account is a boon for the newbie and the experienced traders as well.in the forex trading as they get a chance to explore the various trading instruments and stocks under real market conditions without using the real money and learn the trading conditions and predict the market movement.

 

[PolinaPolly]

As for me, Demo is a must for a newbie. Only with the help of it a trader can practice his skills without losing his money and as a result without losing his wish to continue trading. For an experienced trader Demo is a good opportunity to try a new broker.

 

[Ary Barroso]

As for me, Demo is a must for a newbie. Only with the help of it a trader can practice his skills without losing his money and as a result without losing his wish to continue trading. For an experienced trader Demo is a good opportunity to try a new broker.

I agree with the 1st portion of your post. But, why you mention the new broker since more than 50% new brokers leave this business within their 1st 3 years?

 

[PolinaPolly]

I agree with the 1st portion of your post. But, why you mention the new broker since more than 50% new brokers leave this business within their 1st 3 years?

I meant that you can try brokers' accounts and imagine at least approximately how it is to work with them. When I said "new broker" I meant new for this or that trader, but not a broker who just appeared in the industry.

 

[Ary Barroso]

I meant that you can try brokers' accounts and imagine at least approximately how it is to work with them. When I said "new broker" I meant new for this or that trader, but not a broker who just appeared in the industry.

Oh, now I got it! Thank you very much for your clarification.

 

[Samuel2320]

I would suggest all new traders to first try trading in a demo account. It will make you learn so much about the trading basics. You will trade just like live trading with same conditions but without the risk of losing any real money. Of course that is not to say that you should take it lightly. Treat it like a live account and learn as much as you can on it. It will expose you to the trading dynamics and give you confidence for actual real world trading.

 

[BipsMore]

Demo account is important as it is a place where you can practice your knowledge with full freedom. It also helps you to boost your confidence and the results of the demo trading have impact on your whole career. Am I right traders?

 

[samtrader@fx]

Importance of demo accounts cannot be emphasized enough. I myself traded on demo account for 6-8 months. While that may seem like a long time to some, but I needed that. You can formulate strategies and see for yourself if they are working or not and then improve them.You get exposure to real trading conditions so that when you start live trading you not lost totally. It is like a stepping stone to live trading.

 

[Ary Barroso]

Importance of demo accounts cannot be emphasized enough. I myself traded on demo account for 6-8 months. While that may seem like a long time to some, but I needed that. You can formulate strategies and see for yourself if they are working or not and then improve them.You get exposure to real trading conditions so that when you start live trading you not lost totally. It is like a stepping stone to live trading.

Nice to know about your demo trading session, I think 6-8 is a decent choice. If we traders want to make money here, then we should learn first. Without learning, nothing is possible here. And for learning, demo is the best way.

 

[samtrader@fx]

Nice to know about your demo trading session, I think 6-8 is a decent choice. If we traders want to make money here, then we should learn first. Without learning, nothing is possible here. And for learning, demo is the best way.

Yeah some people spend lesser time on demo account, like 3-4 months but I needed longer. Learning comes slowly to me. And I like it that way.How long did you spend on demo account?

 

[trad$lo9r]

Demo account is like a testing laboratory for the traders. You can test any kind of trading strategy without even spending a single penny.
for novice traders it is like a boon, spend enough time on demo before jumping in the real trading world.