True. If you don’t treat it exactly the same the whole exercise becomes pointless. Worse than pointless, it gives you a false sense of security.
Exactly
it’s like a person who does Cardio kick boxing or Tao Boe for 6 months and throws punches and kicks in the air.
then at some point decides they can win in a street fight
and then someone messes with them
they stand up for themselves and GET THEIR ARSE KICKED hehe
Definitely False sense of security … Well Said
Yeah, Demo would be the best way to test your strategy online, and it is totally advisable that before using any strategy to test the same in the Demo Account.
I very much agree. One can do both back testing and real time testing. For how long do you test strategies (apart from the backtesting, of course) before you use them on a live account?
We can test our strategies in demo account but before large amount it is more appropriate to kick off a micro account to see the strategies performance. It can support for avoid risk.
I am still testing my strategies, I have been in the Demo since 6 months but still I feel that I need to have more practice before I make a move on the real market.
Ah, I see. Keep going. There’s no rush to move to a demo account, take your time and only move once you feel ready. And even when you do proceed cautiously because trading on a live account won’t be the same as trading on a demo account. I wish you success!
Passing 6 month in demo with strategies is long enough , now I think it is more appropriate to kick off a live account.
yes it is long enough ON THE CONDITION that he is actually profitable at this point and has been for 6 months.
There’s 2 sides to this coin
Side 1 - if you feel you need more time, take more time
Side 2 - if you’ve done 6 months successfully , DON’T BE AFRAID to jump into Live
but only the individual can really make the decision
Yes ,it’s completely depend on trading conditions and there is no fixed time to finish basic level on trading.
Demo account helps us to improve our basic knowledge and experience so that we will be able to perform better in live account. We should not switch to live account without proper practice in demo account.
There is no such comparison between demo trading accounts and live accounts I guess. Since demo trading accounts help the beginners to learn the basics of trading and help them to gather knowledge, skills and proper guideline about forex market which will help the traders to effectively operate the live accounts.
Demo of about 6 months is enough and more than enough in the Forex Market. After that it would be good if we focus on the live trading. But Still I believe that if we start off with small investments in the Live Account, would be a good idea. Later on we could increase the amount of investments.
You do have a point since doing this will teach them that a loss WILL affect them to some degree (Even if it’s a small one, it’s coming from your pocket)
But since they are starting I think doing it with actual money can actually discourage people from trading since they will feel dread from continuosly losing money because they’re still begginers
Yeah, until they are learnt the lesson, they are going to remain beginners. You need to be serious enough in the Forex Market, else you could risk each and every thing and lose it in the Forex Trading, thus a good amount of knowledge would be best.
DEMO account gives you the feeling of trading without any capital loss because you need not invest anything, it’s just to give you the feel of the market. There is no difference except that in a demo account you have virtual money and in a real account you have real money.
When it is time to compare between demo and real account we don’t find anything that make sure yes lots of different there is between two. But when we kick off trading a live account we can’t compare this trading environment as like demo. Actually it’s a psychology issue nothing without it.
If you trade accurately in demo you will feel better in real account but if you are not of course you will fall a great trouble after passing sometimes in live. How much will work demo it totally depends on your effort. But practically we don’t get anything from demo. We get from demo overtrading practice that always hamper to lead a comfortable trading life in real account.
From the understanding, trading demo alleviates the loss of money while in the learning stages. Are you familiar with some good demo options?
Can you tell me who? Really interested…