Are Demo Accounts Rigged?

Beginner Questions
1

Hello guys,

I recently opened a demo account at GKFX and one at AVAtrade and with no prior knowledge I began trading. Now nearly ten days later I have made 20k on my AVAtrade account (began with 100k) and 3k on my GKFX Demo account (began with 5k). These numbers seem surreal to me. Did I just make a lucky punch and keep my fingers from trading in the future or should I try a real account once I’m old enough (currently 17).
What have been some of your experiences starting out in trading?

Sincerely,

Chicksoup

2

its not unusual to do well on demo for a number of reasons, some of which may/may not apply;

  1. there is no pressure on the trader so he takes unneccesary risks
  2. on demo traders often use lot sizes bigger than they could afford live
  3. sometimes you just get lucky with the trades you enter, this wouldnt be sustainable long term

Do you know what trades you entered and when? More importantly, do you know why?

:slight_smile:

1 Like
3

That makes sense. At first I had no clue what I was doing, but after a while I took some time to look at the charts and bought when I felt sure that price would rise or sell if it would fall.
What does one have to do/ read to become more secure with buying/ selling decisions?

4

demo accounts are not rigged… keep practicing until you know what you are doing. it will take a while

5

I’d advise anyone to study at the free school on here. The most important things are to get a grip on Money Management and to find a strategy that gives you an edge - so you know why and where to enter and leave trades. Without both of these any trader will struggle to sustain a live account.
Best wishes