When Should I Start Demo Trading?

IMO staying on demo too long is evil for a trader. It makes you feel easy about trading something like a game where you can take high risk every time and make decent games in the long run. But its a trap! One of the cutest trap offered by brokers under the shell of education and training. One should properly understand what demo differs from live and always keep in mind that trading between them differs considerably.

One learns as one practices. Apart from learning the basic software, a person can start trading as soon as they start reading up on the basics of actual trading, so they can see how those things work in practice.

I think will better treat on demo account start with amount capital equal with money that ready to investing later on real account, if likely ready with 100$ hence to trying service broker might can using only 100$ for learning to manage these amount capital in demo account

If I get you right, starting from the beginning of your learning stage is the best course. Immediately applying what you learn would make them stick.

So many and including myself give the advice of starting small and gradually increasing your lot in a real account, but I just realized that it can start from demo trading.
Start to build yourself practice section.

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(If anyone’s interested, which is doubtful) I quite strongly disagree with [I]most[/I] of the opinions in this thread; I think they’re pretty much mistaken, misguided and harmful.

I think people are just repeating what they’ve always assumed and heard others saying.

I think they’re all inadvertently reinforcing a consensus of opinion which is actually a [I]deeply[/I] flawed and incorrect one.

In my opinion, the difference between asiring forex traders who have [U]really[/U] had “a year’s experience” (say) and those who [I]think[/I] they have, but have [U]actually[/U] had one month’s experience (if that) repeated 12 times over, is that the first group are people who developed some real understanding of the theory, from textbooks or however else, [B]before[/B] they started practising on a demo account.

In my opinion, trying to put it into practice as you learn it, however “natural” it may seem, is - in this context - a [B]bad[/B] mistake, and one that very regularly has seriously adverse long-term consequences without people realising the cause.

I think this is part (and maybe often a [I]big[/I] part) of the reason why the failure-rate among aspiring forex traders is so very high. Bear in mind that this is a field of endeavour in which overall success-rates, whoever’s figures you believe, are strikingly low.

“Following the majority view” is therefore [B][U]un[/U][/B]likely to be a recipe for success.

Nobody can learn to be a successful trader without developing some real understanding of the probabilities and statistics involved. They’re counterintuitive subjects, which some people are able to learn more easily than others.

The realities predicate that learning it after or at the same time as experimenting/practising with a demo account is really [I]terribly[/I] difficult for most people. Because it’s so counterintuitive, what tend to get reinforced, that way, are bad habits based on lack of understanding. And once they’ve been reinforced, it’s really difficult to unlearn them.

[B]The theory needs to come [U]first[/U], and the “demo practice” needs to come [U]later[/U]. The plane needs a very long runway, if it’s ever going to get in the air and fly. Trying to fly too early will keep it grounded.[/B] (It’s not a perfect analogy, certainly, but it’s the best I have.)

Edited to add: if anyone’s still reading a dissenting opinion, here, this is actually a better and more helpful thread. :wink:

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I can’t totally wrap my head around what you are saying, but I feel demo is not bad. I know many think newbies should just start with trading real, but there is fear running in the minds of many as they have never tasted the markets before.
I think what demo does is give you that feel of what it means to trade!

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We agree about all that. :slight_smile:

It is nice to see that you have get some awareness about forex, in this scenario I would like to advice you that you should start the demo trading immediately and should get the maximum practice, you should work at least 1 or 2 months on demo account in order to get the success in real trading.

Forex is technical business and to get the familiar with this business we have to need the practical experience, demo trading is the best method to get the practical knowledge and experience and I would like to suggest that all the newbies should work at least 2 months on demo account they start the real trading.

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demo is demo, either you wana try it to get the hang of what forex trading is all about or familiarize wit basic functions of demo trading, applying new strategies through theory and trying to implement it through demo is also ok, in the end demo is demo, if you wana make some earnings then one must jump for live sooner of later, yet i would say the norm has been for new traders to go through demo first (if these traders are self taught) i guess it can be different for traders with mentors, in the end lets just say, go with what works for you

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You must be aware that there are risks associated with trading Forex, just like any other investment. But once you are [B]mentally prepared[/B] to accept the risk to make profits, Demo trading then is the surest way to be exposed to what real trading almost feels like.

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If you’re learning Babypips School, it’s time for you to trade demo and apply what you learned.

how do you think which broker have the best demo account without any limits?

This would be the place to read/ask about brokers, Rasuli: 301 Moved Permanently

At the moment, you seem to be covering the board with quickfire, very general beginners’ questions (I’ve never seen anyone make so many posts, so quickly!) all of which are well covered by helpful comments in the “School” pages, here: School of Pipsology | Learn Forex Trading.

Working your way through that, first, and doing the quizzes, will be hugely helpful to you (including in enabling you to formulate questions whose answers will actually help you a lot more!). Good luck. :slight_smile:

I would suggest that demo trading is a second step to start with. Firstly one must learn the basic concepts, terms and know about the basics of forex trading. After that when you start feeling comfortable then you can think of putting that knowledge into practice. Some people do trade on demo simultaneously while learning but it is difficult and everyone cannot do that. So, first learn then demo and then live trading is most suitable process.

Demo trading takes no pain and very little efforts to start. You just need to find a good Forex broker with good trading conditions and start investing your time to the demo trading on different trading instruments.

Once you are sure that the broker is reliable and offers you secure payment & withdrawal options. You will be okay with investing your time & money with them through live trading account.

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Demo account is very helpful in finding and training traders trading strategy that suits their trading style, but can not train emotional of trading which basically very influential on the outcome, so it would be better if beside we practice using the demo account, we also train our emotions trading with a real account even without using our own money as utilizing free no deposit bonus from the broker.

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Thank God you took the trouble to mention it: I can’t imagine how anyone would ever have suspected it, without the clarity and perspicacity of your input on the subject. Are you by any chance related to our similarly esteemed contributor “Bearish”? I see that all your posts are in similar vein to his …

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Thank you very much for the post…
I completely learnt from your experience now I know I should go on with the course or even to a reasonable extent before demo trading.