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Be profitable in demo isnt a proof for beeing successfull with a live account. It's no problem to loose a couple thousend bucks on demo; you will think "damn next time i will do this and that" but you cant compare this to a real account. If you loose money with a real account you have to face emotions like fear and greed. It hurts when you loose money. So my advice is start small, i mean really small get a micro account fund it with 100$ and trade it. You will recognize a total differenty approach and feeling for this. Just my 2 cents
I am still demoing after 6 month learning the forex market; n I think I will jump to the live acc if I can make consistent profit for about 2 month; but still I cannot do that.
You should trade with demo account if you were still a beginner and go live account step-by-step (micro, mini, VIP...)
Demo is very good for studying and applying any strategy or knowledge you learn (unreal money) and live account that you have to try to keep any cent you got and earn and earn a lot of profit as you can.
You should trade with demo account if you were still a beginner and go live account step-by-step (micro, mini, VIP...)
Demo is very good for studying and applying any strategy or knowledge you learn (unreal money) and live account that you have to try to keep any cent you got and earn and earn a lot of profit as you can.
Learning with demo is very important before facing real experience in a live account.
That's it, Edward25. However, demo account has some disadvantages as: demo server's speed execution are slower than live server, it affects the bid/ask, you can't trade gold in demo,... so you should begin with micro-account when you want to trade live.
Both demo account and live account have other benefits. Demo account is very useful for traders, especially for beginners because they can trade without any risk and live account to make profit when trading.
Some differences between DEMO and LIVE account would make you lose when you go to LIVE after thinking you get enough with DEMO.
The execution time, spreads are different a lot. Anyway, demo account is the best way for new trader learn how to trade.
You're right. In demo trading, we will get trading experience, and we can use it to learn before trading with real account. I also use demo account first, then i use real account with posting bonus as my balance to trade.
Basically trading with demo accounts and real accounts are the same. We use the platform to trade, and we also need to do the analysis. It's just that if we are trading with a demo account, we can not draw profit and we also have a psychological effect. So do not be surprised if trading using a demo account it is easier to make a profit rather than trading in a real account.
Does anyone have comments or suggestion which one could attract most for new traders? Would it be a Demo Account or Live Account?
new traders rule of thumb, stick with DEMO DEMO DEMO and trade it like reall money, for atleast 2 months or more, go with brokers like hotforex or any MT4 broker coz demo is free. practice is the key
new traders rule of thumb, stick with DEMO DEMO DEMO and trade it like reall money, for atleast 2 months or more, go with brokers like hotforex or any MT4 broker coz demo is free. practice is the key
2 months to learn to understand trading in a demo account is a sufficient time to gain trading experience. And even though we have used real account, we should also continue to use the demo account to learn, test strategy, or even use to participate in the contest demo.
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