Look, someone said, that the difference between Demo and real accounts is in the speed of orders execution. I don’t know exactly, is it really so, but I propose to you next: when you’ll try real trading start with a little depo. If you’ll unlike this broker company - change it. And you must not give a second chance to broker! My broker’s minimum deposit was 10 bucks, so I decided to try its services. Try to do it too - it’s the best option, how to choose a broker and do not loose your cash)
Hi,
You are making profit on a demo account and that is awesome!
I reckon once you established what system and strategy you’re using you could start looking into opening a live account. One tip regardless of what system you’ll use ; ‘‘no matter how lucrative the setups are, never bet the farm!’’
I demoed alpari mt5 before I switched brokers. And I must say that trade execution is very accurate. However occasionally,especially if you trade a lot of positions, you’ll come across that your SL has been hit without the charts actually hitting that level (in respect to both ask and bid prices). It was bothering, because I had the same trade open on another broker and the trade played out fine.
Hope that helps.
'Best
Z Pattern
I agree with you here, all we have learned can be best tested without fear using demo account. And this should not just be a passive thing for us, we have to be serious with the whole thing trying to figure out how most of the things in the platform work!
You are right, but there is one thing: people aren’t so worry about virtual money like about real. I don’t mean that everyone must to forget about demo-trading.
shivamsharma: Test your strategy 10 times, after that 10 times once again. and after that another 10 times.
Then start to trade in real.
And look for Aneah’s topic, he is right. It’s better to start with a little depo, because it is a real money and brokers are so different.
There’s a big difference. With a Demo there’s a total absence of emotion. When you switch to a live trading you will shock your emotional body. Once you know that you’ll be risking real money,you will be doing things that you weren’t doing in a Demo - closing out winning trades too soon instead of letting them run and questioning your judgment, causing you to miss opportunities,etc. In other words you’ll have fear clouding your judgment. For one thing,you should trade a Demo exactly like you would a live account;you should fund your Demo with the same amount of money that you would be trading in your live account;and,instead of trading your Demo for an additional 2 months,I would start trading a live account starting with micro lots.This way you will ease your way into live trading without getting hurt if you start losing.
I kinda agree.
Demo trading is much inspiring it is motivated and less frustrated than live trading. We are very happy to have big profits and recovery of loss due to the free nature of demo But with live accounts traders are tense with each market movement they feel their heart is sinking as loss is increasing.
Therefore, demo are only use for learning process purposes and only affects the level of knowledge which is of coarse significant when trading thus the emotional capacity is only learnt on live trading which is also a big factor when doing the trade? am i understanding it right? Newbie.
Another thing: think about people in your family, your friends, and your lover/wife/husband/girlfriend/boyfriend… Why? Because before you get completely sucked into chart analysis and getting that intoxicating smell of money into your head (which is why most people, I would hazard to guess, get into this line of business for) you must, must, must ask yourself if this is going to make everyone around you very excited or very worried… In other words, do not be selfish when you go live and remember that, to some people, it takes A LONG TIME accepting that you are NOT GAMBLING YOUR (OR THEIR) MONEY into an abyss like it was a slot machine without any rhyme or reason… So unless you have no friends, no boy/girl-friend/husband/wife etc., and no family at all, you will not want to trade in secret forever but, equally, may have to accept that for a while, UNTIL YOU CAN PROVE TO YOURSELF FIRST that you can be profitable, you may have to do this in a very lonely way, almost in secret, trying not to get everyone worried early on…
As Honorary FX-Woman PipNRoll once told me (on my Q&A corner interview with Ananais), it is much easier to talk about Forex trading as your passion when you surround yourself or are surrounded by people who have a passion for investment, money, business, etc. Then you will probably be welcomed with open arms… BUT it is not to say that you cannot have people accepting your ‘weird’ interest in Forex, as long as you accept that they will probably worry about you when you will go live…
Like anything, you must listen to your family and friends’ concerns and prove them unfounded through FACTS… i.e. show them that you have made a steady profit over, say, six months, and then you may even find that they will want to look into it themselves…
Good luck going live, anyway!
Regards
not 100%
i am in the issue with some trader,beware of that.
Very easy, demo is a testing account and live account is a real account. Demo is like someone give you money to trade, whether you win or lose, you don’t get or lose any your real money but live account is your money.
I think if you don’t want to spend any money for trading, go demo. If you want to play for real money, open a live.
In general, u r right.
I still use Demo account 2 test new strategies. My advice 2 u: If you’re using demo account, use same virtual deposit you’ll use in a real.
It’s different and the psychology will be tested in real account. But although it’s different, as a trader, we must use demo account as well as possible. It will make use get trading experience and will be useful for trading.