Demo accounts yes or no?

Hello Guys!
Do experienced traders still use demo accounts to test their strategies before applying them to a real trading account?

yes

for backtesting and then (if appropriate) for forward testing, too

financial institutions do the same thing, too: they even employ people whose full-time job is doing exactly this

2 Likes

Demo accounts are good for everyone. I’m using them to learn, and today I learnt a very valuable lesson! Check out my thread:

1 Like

yes, if strategy can’t handle on demo, on real account can’t handle too

2 Likes

I also use them to experiment with exotic pairs. Some of them are quite intriguing and tempting to try out. :grinning:

1 Like

Hi there!
yes, many experienced traders still use demo accounts to test their trading strategies before using them in a real trading account demo accounts can help traders practice and improve their skills without risking any real money. It’s a good idea to practice and get better at trading before actually putting your own money on the line. So don’t be shy about using demo accounts to improve your trading skills :chart_with_upwards_trend::moneybag:

3 Likes

Definitely because it’s never possible and logical to test run a strategy on real account as it might crash your balance.

1 Like

I am not an experienced one but I am using them to watch Gold market. I randomly buy and sell Gold on my demo account to check how can news affect it! I suggest it to you but there is a really important point here! Do not think you will have same emotions trading with demo accounts while you are trading your real money! That’s a really important thing to care about.

1 Like

I do it frequently because testinga strategy on real account can be hazardous for me and I don’t want to take that risk.

Hi, there Oscar!
You can find my previous topics, this one for example I started learning Forex here. I spent a lot (literally a lot) of time on different forums, different websites, different books, and others, I also use chatGpt to check some questions on the internet and even questions in my mind! I am not really experienced here and I learned a lot from the people here. (all this information was just an intro for my answer to your question)
I have to tell you that the best friend for you are demo accounts! In the end, everything that you read, must be applied on to real life and how can you apply them? Demo accounts.
In the end, as told you I am not an experienced one but I suggest you love demo accounts.

1 Like

A trader should use demo account as long as he stays with the market. Demo account is helpful for not only testing a strategy but also sharpening skill.

2 Likes

When I turn to live trading from demo, my mindset gets changed and I cannot control my emotion.

2 Likes

Hey there! Yes, experienced traders still use demo accounts to test their strategies before applying them to a real trading account. Demo accounts are an excellent tool for traders of all levels of experience to practice and refine their strategies without risking real money. Even seasoned traders use demo accounts to test new strategies, try out new markets, and practice their trading psychology.

2 Likes

I’m not sure why I believe that while my testing on a demo account went smoothly, using the same method on an actual account didn’t work. agree?

I have a challenge with the demo account since I feel that it doesn’t operate exactly as it does on the live account. of course I do so sometimes

Oh, and I want to thank you for this information you gave us I study SCHOOL OF PIPOLOGY as well, and I work on trading part-time.

you are saying that, they are connected to gether?

that is exactly what I can use them for, exotic :grin:
thanks I have not think like that.

As you mention, I can use them without putting real money at risk, but what if I want to use them with real money?
I have to say that while I don’t have anything against demo accounts, I do find them confusing at times.

1 Like

I know that you are right but I’m confused as to why my real account gets a different outcome.