Demo Account or Live Account? Any Comments?

[okamiraito]

Hi Guys,

 

Does anyone have comments or suggestion which one could attract most for new traders? Would it be a Demo Account or Live Account?

[ForexMike]

Let's post new trader questions in the beginners section. This section is for posting trading systems. Become familiar with the layout of the forum please.

[hermanhess]

nfraction given please see this ----> http://indo-investasi.com/showthread.php/9709-100-Working-Holly-Grail-System

 

 

..... welcome to the forum but request you to please do go through the rules

 

thread moved to beginner section

[Kristianto]

of course demo is the best to start off. you need practice before you start putting your real hard-earned money into trading.

[kakrosie]

Do let me know if you ever come across a newbie who is confident enough to trade on a live account instead of toying with a practice account first. I would love to meet him ;))

[doky]

get familiar with the market and your platform on demo but do not spend too much time with it. There is huge emotional difference between demo and real money, so after you have some practice go live with very small amount. You can easily increase it when your live trading is going well

[ForexMike]

  doky said:

get familiar with the market and your platform on demo but do not spend too much time with it. There is huge emotional difference between demo and real money, so after you have some practice go live with very small amount. You can easily increase it when your live trading is going well

 

I was about to type this same thing which is excellent advice doky.

 

okimarito, I have seen similar requests and seen replies that state not to demo, but to jump right in and taking such advice from fools will guarantee your failure trading the currency markets. What is your training with the forex?

[⭐ alify]

I use both. demo account to pratice and make my trading skills be better so i can trading be better with my live account.

[supertrader]

Start with reading and watching the Forex training video before you are start with demo account. This will help you to practice. If you have no foundation, you will making Forex as another gambling machine. Keep practice with demo account until you are able to minimize the loss.

 

happy trading.

[moritzm]

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

[okamiraito]

  Kristianto said:

of course demo is the best to start off. you need practice before you start putting your real hard-earned money into trading.

 

Hi Kristianto,

 

Thank you for your comments.

 

I agree with you, i have been reading some replies to go for demo first. But with your experience, how long have you stayed in demo account?

[okamiraito]

  kakrosie said:

Do let me know if you ever come across a newbie who is confident enough to trade on a live account instead of toying with a practice account first. I would love to meet him ;))

 

 

Hi Kakrosie,

 

You have point there, i also want to have some conversation to that person and ask him/her about his/her experience.. :D

[okamiraito]

  doky said:

get familiar with the market and your platform on demo but do not spend too much time with it. There is huge emotional difference between demo and real money, so after you have some practice go live with very small amount. You can easily increase it when your live trading is going well

 

  ForexMike said:

I was about to type this same thing which is excellent advice doky.

 

okimarito, I have seen similar requests and seen replies that state not to demo, but to jump right in and taking such advice from fools will guarantee your failure trading the currency markets. What is your training with the forex?

 

Hi doky and ForexMike,

 

Thank you for your comments. I tried to register as a demo account, i am not yet mentally prepared to use my real money.. :D.. anyway, i am curious, if i have to go through in live account, i am not sure enough how much money would i need to deposit..

[okamiraito]

  alify said:

I use both. demo account to pratice and make my trading skills be better so i can trading be better with my live account.

 

Hi Alify,

 

Thank you for your reply. Yeah i think it will solve my curiosity.. Hope i will get better in trading.. :D.. Anyway, how was your experience in your first live account trading?

[okamiraito]

  duderex said:

Start with reading and watching the Forex training video before you are start with demo account. This will help you to practice. If you have no foundation, you will making Forex as another gambling machine. Keep practice with demo account until you are able to minimize the loss.

 

happy trading.

 

Thank you duderex. Hope i can get better in trading. I still practicing in demo account. I was so busy these past few days..

[okamiraito]

  moritzm said:

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

 

Hi Moritzm,

 

Thank you for your response.

 

I will take your advice... :D

[jimmyFX]

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.

[diablo88]

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.

[Edward25]

  aventador said:

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.

[diablo88]

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.

[⭐ alify]

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. Edited December 17, 2012 by alify

[Atlas CapitalFx]

Use demo account to get trading experience which can be learned to real trading.

[diablo88]

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.

[Atlas CapitalFx]

Both demo account and real account has other benefit. Demo account is the first step for beginner who wanna start trading, because there's any risk.

[⭐ alify]

  Atlas CapitalFx said:

Both demo account and real account has other benefit. Demo account is the first step for beginner who wanna start trading, because there's any risk.

 

You're right, so we can't equate both and we must remember that real account is more risky that demo account.