Any kind of ratio high or lower doesn’t matter. Leverage always contains huge risk and no way to avoid it when trading . practicing demo with high leverage always warn us it could be dangerous and could fall us a great loss.
Beginners should focus on learning first instead of making profit too early. It is the main reason majority newbie unable to gain consistent profit from the Forex market so newbie should spend three months in demo accounts to understand the basics.
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Not willing to agree totally, demo trading must, we can’t avoid this trading place at all even though mostly beginners don’t believe the importance of this trading place at all. demo is a place to practice live trading but not learning , yes of course we can learn from current trading but for learning basic information forum community is the best. Learn from Forums and practice in a demo= happy trading.
Basically the Demo Trading is the mean of siphoning your skills needed to survive in the Live trading, but this could be only siphoned, if you have proper amount of seriousness while dealing with the Demo account, else it would be just a waste of time.
The seriousness you had when trading in demo as a newcomer? I was not. Honestly speaking. I took it as fun and trade at random.
There is no match between demo and live accounts because they are treated and effect differently . Purpose of both is not same. Demo is free account for trading practice here you learn trading., Actual trading is with live accounts where you deal with your own funds and face real profit or loss.
I’ve always taken demo trading very seriously and I’ve tried to trade on it the same way I do and would on a live account. If I didn’t do that it would be a waste of my time.
Both accounts are different from each other and it requires proper time to complete hold on it. Demo account offers trading skills and improvements so that in real account we can trade more accurately.
Why you thinking both are different? Have you found any technical different between two?
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It’s a different of trading mentality, nothing without it.
Sometimes, depending on the broker, there are very clear technical differences between the two - in the speed of order execution, the presence of slippage and requotes, server connection issues, etc. Those differences are totally separate from the psychological difference between trading on a live and a demo account.
It’s great that there are demo accounts without any time limits. Even experienced traders are not above mastering new strategies there.
Yes it totally depends on your broker’s performance. But generally we don’t get the good performance after joining live account that was available in demo.
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It’s a common problem peter. For that reason we have to choose the broke which is more appropriate to the concept of trading that will be used.
Yeah, the only mistake that they repeat each and every time, is that they don’t take the Demo Trading seriously. The fact is that they have utter knowledge that Demo is to be take seriously, but still they do this mistake of not taking it seriously again and again.
That’s why it’s so important to thoroughly vet the broker before even opening a demo account, and once you move onto a live one invest just a small amount to see whether there are any differences between the live and the demo accounts. Don’t be afraid to change brokers if necessary, there are a lot out there to choose from.
Yes it a nice policy to see the broker’s performance. But live account with small balance is not enough to make sure brokers credibility. Actually broker cheat with their clients when they have grand capital.
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Demo account is for practicing and improve trading skills so that in live account we can trade securely. If we practice more then we can reduce the risk factors and maximum pips will be gained so we must spent atleast three to four month in demo account.
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That’s true, unfortunately. I was referring more to the purely technical aspects of the trading platforms. To avoid actual cheating you’d have dig into the broker’s past pretty thoroughly just in case.
Functionally Demo and Live accounts are same. If anyone want to learn trade seriously, I may suggest you to use live account. Live account creates psychological seriousness that demo account cant create. A newbie trader may create demo account to trade along with live account. Besides, you may find slipage difference in demo and live account