Demo Account and Life Account

[eduj]

Pls am a newbie in the business of forex trade. I seem to be doing well in my demo account but am still not comfortable with cos I still think there is a big difference between trading in a demo account and trading in a life account. Pls what are the major differences? I will like to know this please cos am trying to open a life account.

My second problem is I ve not been trading on my demo account with stop loss how does that affect my trade. Thought I still make profit. How will that affect my trade when I state trading on a life account? Hoping to hear from you guys.

Thanks from eduj

 

[fxarms.com]

you will trade on demo account without any emotions. but on live account, you loose because of emotions. this is the main difference. stop loss is must. trading without stop loss is risky

 

[pro4Xtrader]

yes, its all psychological factors when moving from demo to real... which is the harders part in trading, go over your emotions, control yourself.... change yourself

 

[Froso@FXNET]

Major differences between real and demo are capital used surely , this between real or just virtual , so when use virtual account surely nothing for burden to make decision than use real money during trade . so we must have strong psychology when has invested real money in forex market

 

[Talar]

1. Try the stop-loss demo, it's your safety on the market.
2. Start working neatly not on the demo and the main account in parallel.
3. Do not use too large amounts, use minimal lots to get used to real trading.

 

[bigdolly]

Pls am a newbie in the business of forex trade. I seem to be doing well in my demo account but am still not comfortable with cos I still think there is a big difference between trading in a demo account and trading in a life account. Pls what are the major differences? I will like to know this please cos am trying to open a life account.

My second problem is I ve not been trading on my demo account with stop loss how does that affect my trade. Thought I still make profit. How will that affect my trade when I state trading on a life account? Hoping to hear from you guys.

Thanks from eduj

The crucial difference that really matters is speed of execution. Demo has instant execution while it's impossible to get on live account which almost invalidates a whole class of trading strategies based on price momentum.

 

[Olieng38]

Of course, real trading will cause you more emotions and worries, so yes, maybe at first it will not be very easy for you. On the other hand, you have to make real money, don't you? So try it slowly, money doesn't make itself...

 

[holycow]

Of course, real trading will cause you more emotions and worries, so yes, maybe at first it will not be very easy for you. On the other hand, you have to make real money, don't you? So try it slowly, money doesn't make itself...

That's why we need to use a demo account to teach our brain how to control emotions and manage our risks. You will be doing the same things or replicating the same that you have learned on a demo so take demo account seriously.

 

[Macy Jones]

Pls am a newbie in the business of forex trade. I seem to be doing well in my demo account but am still not comfortable with cos I still think there is a big difference between trading in a demo account and trading in a life account. Pls what are the major differences? I will like to know this please cos am trying to open a life account.

My second problem is I ve not been trading on my demo account with stop loss how does that affect my trade. Thought I still make profit. How will that affect my trade when I state trading on a life account? Hoping to hear from you guys.

Thanks from eduj

Well, the major difference is that you trade with your real money in live account which is not the case with demo account. There are no emotional factors involve when you trade with a demo account since you are not trading with your own funds. Other than trading psychology, live trading account differs from a demo account in terms of spreads, execution and slippage in case of many brokers. However, it is always a very good idea to trade with a demo account for a good amount of time before trading with real money if you are a new forex trader or testing a new trading strategy.

 

[Marceloguedes]

Ultimately, a live account is what is going to give you the real trading experience, amidst all those emotions and stress, but trading on a demo account is good for practicing and making yourself more known to basically how forex works. For the start, demo is a must.