A demo account is considered by traders to be the safest method of learning to trade π
You are trading on virtual money. You have a sense of responsibility for this money and for your trade. The lack of psycho-logical pressure and emotional tension very "blinds" you. You become indifferent to your trade. You can stop putting on the feet and trade like a flop.
A demo account provides an opportunity to gain experience π±βπ€ Demo account is comparable to the virtual world, where there is nothing real. There is no profit and no loss, you do not feel any of this. It is only needed for the initial stage, where you are just starting to understand the structure, orders, how everything works.
On a demo account, you can check the strategy, system π This cannot be done again because of the lack of attachment to money or lack of responsibility for their activities. A trading strategy gives success only if you follow everything that is indicated in it, without your own improvisation.
Winning a demo account can tell you how to trade on a real account π€ Demo account in comparison with a real account are completely different things due to the emotional component, psychological, lack of responsibility and rashness. Any positive result on a demo account means nothing
What, then, is a demo account needed? π€·ββοΈ πΌ For acquaintance with the trading platform and the characteristics of the trading market πΌ For acquaintance with the financial tools on which you will be trading πΌ To perfect your technical skills πΌ To test your trading strategy
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I disagree with the write up in someway . Demo is to learn strategies, meta trader platform etc .... but if u don't demo trade how will you have the courage to experiment your real money? look at this angle , u have 1000usd to demo trade u blow the account. u now top up again u blow the account. Will u have courage to put that money in real account since ur see ur poor results in demo? but when u see a positive results on demo u will be motivated to to apply the strategies u learned in real account which it will work. look knowledge is power what u don't know , u have not learnt it , u will not be able to do perfectly. unless u want to tell me the money u want to trade grow like a tree? that u can put in their used to learnt. I called is expensive trading experience several losss u will hate the concepts of trading and say to yourself I was meant to be a good forex trader. u need demo. but u also need to experience psychological and emotional attach to real money when trade 8s against u? when u put like 100 dollar to experience that emotions and alot of demo trade for several weeks and months. u are good. patience is what u need. if u runs to markets u will loss all. the markets will always be their for u 24hrs in 5days in a weeks. thanks
Aphaynes
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The kind of trader who doesn't see value in demo accounts, is the kind of 95%er gambler who will never succeed
TradingForRealOfficial
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So stupid arguments. In the beginning i got 1 advice i didnt listen to : go for demon until you make at least 2-5% monthly consistently.
After years of demo practice and testing and considering demo money as real money, i can say i am ok and so so disciplined.
So let me tell you something :
If you are not responsible and disciplined on a demo account you will never be disciplined on a real one.
And my argument is : do demo 5 years and look for 5% monthly , compound it, in 5 years you re in 7 figures.
m_magomola
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No demo account , No problem Just put a little money on the real account and do trade it as a demo for you to gain experience
sunnykarekar
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Can we find growing stocks?
DMZee
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Demo account is still necessary cos it helps you to test your strategy before using it on a real account