Demo accounts

[Pharaoh]

well yes but that period that you call "our income is good and stable" in demo account may lasts... forever

Yes, but if an EA or other system fails in a demo, you'll have saved yourself from throwing away a lot of money that would have been spent testing it live.

My general rule is to find something that works on demo and would still make a profit if ever trade ended up 2 pips worse. If you have a system like that, only then is it time to risk money on a live test.

 

[holycow]

holycow, my opinion is totally opposite and I think you’re a bit wrong. One of the most important thing in broker’s part is how painful withdrawal is. And unfortunately this is exactly what you will never know using demo account although broker characteristics can be very high. But it is only my guessing you can disagree of course

I respect others opinions as they can be different however i wrote my personal experience as more or less these demo accounts are very similar to the live trading accounts. I have noticed many traders found practicing demo as a tiring job, yet i bet that it helps learning forex more easily than any other mode of learning forex trading.

 

[EURUSD]

Yes, but if an EA or other system fails in a demo, you'll have saved yourself from throwing away a lot of money that would have been spent testing it live.

My general rule is to find something that works on demo and would still make a profit if ever trade ended up 2 pips worse. If you have a system like that, only then is it time to risk money on a live test.

Sometime I am hear from beginner trader he can making easy profit on demo but after jump to real account stil get fail, maybe one reason why trader fail in real although success in demo is because different emotion between demo and real account

 

[JeremySultan1]

Sorry but i am SURE that demo accounts is just wasting of time. it can be useful just fo those who doesn't know anything about trading, just to feel it and to feel the addiction)

I agree with you completely) I started with demo) but demo accounts are good to try different stategies.

 

[BaibarsB]

Maybe every trader having own statement regarding with demo, some trader they still use demo although already having long years experience, it's still useful to backtesting system and also ea for automatic trading

Maybe, I don't have huge experience in trading, mb I will think the same way some day) mb I haven't felt all the nuances)

 

[BaibarsB]

I agree with you completely) I started with demo) but demo accounts are good to try different stategies.

hmm...well...may be you are right about trying new strategies, but personanly I don't use demo accounts for this purpose.

 

[BaibarsB]

Very controversial opinion. I disagree. There are a lot of people who have been in the game went out and then lost their skills. For that kinf of people demo account is a great way to catch up for lost time

for such people who were out for a long time demo is really a good thing to return skills, I think. here I agree with you)

 

[s.erfolg]

Pharaoh, true again

My general rule is to find something that works on demo

Could you share with us your secrets?

I have noticed many traders found practicing demo as a tiring job

How learning of the basis can be tiring? especially if you hungry for knowledge and money?

Sometime I am hear from beginner trader he can making easy profit on demo but after jump to real account stil get fail, maybe one reason why trader fail in real although success in demo is because different emotion between demo and real account

Heard same thing and for me it is obvious. In demo your risk is zero you don’t think about loss but pretend you’re the greatest trader so it is easy to risk with non existing money. And totally opposite situation when you look at the screen and see your money start melt like snow in spring. In that moment you have to do something ASAP and the most logical thing at this moment unfortunately is not stop panic and let it go but stop loss. That's the differnece

 

[EuroTrader]

Pharaoh, true again



Could you share with us your secrets?



How learning of the basis can be tiring? especially if you hungry for knowledge and money?



Heard same thing and for me it is obvious. In demo your risk is zero you don’t think about loss but pretend you’re the greatest trader so it is easy to risk with non existing money. And totally opposite situation when you look at the screen and see your money start melt like snow in spring. In that moment you have to do something ASAP and the most logical thing at this moment unfortunately is not stop panic and let it go but stop loss. That's the differnece

We have to learn the ability to take swift and fast decisions as that will allow us to cut down on the overall losses that we are getting into our accounts

 

[BaibarsB]

How learning of the basis can be tiring? especially if you hungry for knowledge and money?

it can be tiring if you want all at once) I suppose that many begginers are not ready for the fact that trading needs many time and effort)