I'm not a fan of demo contests. To win them you need to take on risks that you would not take in real life. So what is the point developing something that you wouldn't use for real. The prize is usually only a couple of thousand pounds so why bother
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Originally posted by controlxs View PostWell after trading several years I realize which negative role played demo in my establishment as a trader. Demo trading teach you to be negligent to the money management, ignore real market conditions and leave you unaware of how to deal in times of volatility, requotes, slippage, etc. Instant execution is a great thing but getting used to it distort real picture of the trading.
demo is good for learning, but if you stay on demo for too long you will either never trade live because you are too afraid or - if you do - the effect as explained in the quote above will occur.
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Originally posted by mlawson71 View PostThe demo is a crutch - at the beginning it's necessary while you learn how to walk, but once you do begin to learn you need to get to a point where you're self-sufficient.
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Originally posted by Mohamad Tammat View PostI don`t agree. Sometimes experienced traders use demo to test some new strategies.
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We know the right steps should always be gradual, practice on a demo-account to gain experience and expertise in managing their finances, as well as being able to control the psychological, and this will be evident when managing real accounts, is capable of the same or not, something different once
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Originally posted by MalderWhen you learn to drive, you start with theory, then you either train on a simulator or drive with an instructor. And only after that you can drive your own car. Demo account is something like this driving simulator.
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