Demo VS Live

Browsing the forum i did read a post about demo accounts that offer cash prices. I do believe that is a better way to trade than just a demo account with no incentives. At least when you are part of a contest you do fell some pressure referring to the need to win.
 
Personally I think that the old virtual dealer plugin stunt is one of the past. The reality is most traders are well aware of its existence and there are tools out there now that allow you to monitor your broker for the existence of such a plugin.

Without being discriminatory against brokers the ones that I really don't trust are the ones that seem to pop up in unregulated eastern European jurisdictions. There are some really smart programmers in these places that build plug-ins for MT4 that can do things that you would not even dream about. I'm not saying that it is these brokers that use these kinds of tools however I am saying that in my experience many of the problematic brokers reside in unregulated jurisdictions, of course there may be some exceptions.
 
Good point.

And then, there's always the very unpleasant possibility that demos could even be rigged to have narrower spreads, differential slippage in the customer's favor, etc.

I didn't even think of this possibility...wow, if that is true, then that is VERY dubious...
 
Pharaoh is right, do your testing on a small real account to avoid any demo tricks. Only deposit an amount that you can afford to loose if things go wrong.
 
Only deposit an amount that you can afford to loose if things go wrong.

Exactly! Also, make a few trades and then try to withdraw a small amount. There's no point in trading hard for 6 months only to find that you can't withdraw any of your money.
 
I find it interesting when the closing prices for a demo account vary from the live account...hmmmm I prefer to trade a live account, and feel the pressure of a real trade (with proper money management, of course), than the detachment of a demo. However, for EA's, of course a demo is still the first step.
 
There're some brokers (scam of course) that don't use their cheat software for demo accounts in order not to scare away their potential clients. antonisk, are you sure that your broker is not among them?
 
There're some brokers (scam of course) that don't use their cheat software for demo accounts in order not to scare away their potential clients. antonisk, are you sure that your broker is not among them?

i don't think my broker is as you call it scam.
Why
The most important for me is to be able to withdraw my money and to feel comfortable at where i am. As i been trading for more that a year now i had no issues with withdrawals. (Leverage ,Spreads,Minimum trade size is similar if not the same at all brokers)
Demo account i use for training and i really can't tell the deference of a demo or a live account ( referring to functionality prices etc.).

With the above mentioned please note that i m not a professional/expert i do try to learn as much as possible within my dally trades and my interactions with the FPA and other forum communities; and my Demo and live accounts.

Demo VS Live i think i discovered another option now thus i don't use a Demo account.
there are a lot of brokers offering contests with cash prizes on demo accounts thus i do prefer to trade a demo contest account that gives me an incentive referring to the overall performance of the account, the psychology is different when you are competing .
 
There's a psychological difference between trading with fake money and trading with your money. To be a successful forex trader you ought to have self-discipline, which is easier to achieve when it doesn’t come with real money losses...
 
I do understand the effects of emotion and phycology referring to the trades. Thus the only way to really test any strategy is to trade a live account thus losing a couple of K first?
You do not need to a K to start. just a few dollars would be enough.

By the way, you can employ discipline on demo and live. Trade your demo as if you are trading a real one. It's all in the mind.
 
Back
Top