I know, I know…I jump in and out of these threads without really joining them from the early stage…but!
I’ve seen this sort of response regarding ‘demo’ vs ‘real’ accounts many times before; not only in this forum but all of them, it’s a hot topic and never seems to rest.
I personally actually have the complete opposite view to demo accounts. Providing you treat them with the respect that they deserve they are a 100% mirror image to a live account. The only fundamental difference is of course slippage - that’s it, nothing else.
I’ve been on and off from demo accounts and use them as a core method for the research of new trading ideas - this in my view is exactly what they should be used for. Testing.
And before you say the ever popular phrase ‘physiological effects’, demo accounts and live accounts have nothing to do with this. This is down to you, it’s not built into the market - it’s an external element of your own trading. With enough significant testing and a large sample size of historical testing you should already have the confidence you require when trading a live account. This will keep the ‘trading emotions’ to a respectable minimum.
Demo accounts are the ultimate trading tool that you will ever stumble across, so treat them with the respect they deserve and then you will have no nasty surprises when making the transformation to a live account. I saw absolutely no difference from demo to live
This man said everything that I already had on my mind, and I have nothing else to add.
I know, I know…I jump in and out of these threads without really joining them from the early stage…but!
I’ve seen this sort of response regarding ‘demo’ vs ‘real’ accounts many times before; not only in this forum but all of them, it’s a hot topic and never seems to rest.
I personally actually have the complete opposite view to demo accounts. Providing you treat them with the respect that they deserve they are a 100% mirror image to a live account. The only fundamental difference is of course slippage - that’s it, nothing else.
I’ve been on and off from demo accounts and use them as a core method for the research of new trading ideas - this in my view is exactly what they should be used for. Testing.
And before you say the ever popular phrase ‘physiological effects’, demo accounts and live accounts have nothing to do with this. This is down to you, it’s not built into the market - it’s an external element of your own trading. With enough significant testing and a large sample size of historical testing you should already have the confidence you require when trading a live account. This will keep the ‘trading emotions’ to a respectable minimum.
Demo accounts are the ultimate trading tool that you will ever stumble across, so treat them with the respect they deserve and then you will have no nasty surprises when making the transformation to a live account. I saw absolutely no difference from demo to live
It’s very rare that I disagree with you, and to be fair I’m not really disagreeing this time, I’m just going to add one caveat: we’re all different. For me, demo can be a brief help when first learning the mechanics of how to place a trade, but does nothing for me in terms of backtesting, forwardtesting, whatever. I just prefer live, find it more representative of real trading.
The reason this debate runs and runs is that we’re both right, as demo suits some and not others. So I agree with you, while still sticking to my own position that for me, demo doesn’t do anything for me.
Yes, it is a matter of personal choice, and we are all different.
Maybe my view is built around the fact that I didn’t have the funds for a live account when starting out, so demo was the only choice
I guess there is always two sides to the same coin, and this debate will always run one of two ways!
PipNRoll:
If the parents don’t have the money to pay for college, send them to military…My brother join the US Airforce 5 years ago. He still in active duty now in South Korea and he loves it and would like to make it as a career. He is now 23 years old. Before he join in, he just want to stay home and play video games. Today, he become a good man that I couldn’t imagine that he will be. He is independent, mature, and responsible…plus he got to travel and see the world…so proud of him…I wish our parents see him grow before they both pass away…
Only works if you can pass the physical and don’t have any birth defects…Then by the time you find out you have set yourself back a year in life…
I agree that Military is not for everyone and so as being a successful trader… or any other profession or business in life. The main thing is if you want something in life and wanting to live the lifestyle you desired… DO IT all 100% ( not 50-50 or less) and make NO excuses…
Excuses are for losers… sorry to be blunt but true…
mmb91
December 6, 2012, 10:17am
175
Yes, it is a matter of personal choice, and we are all different.
Maybe my view is built around the fact that I didn’t have the funds for a live account when starting out, so demo was the only choice
I guess there is always two sides to the same coin, and this debate will always run one of two ways!
indeed. i know personally i can never take a demo account as seriously as i take going live. perhaps its because i started live first, although im sure many things factor into it. i wish someone would conduct a study on it, as its a pretty interesting topic to cover imo.
I agree that Military is not for everyone and so as being a successful trader… or any other profession or business in life. The main thing is if you want something in life and wanting to live the lifestyle you desired… DO IT all 100% ( not 50-50 or less) and make NO excuses…
Excuses are for losers… sorry to be blunt but true…
I always used to say: if you don’t fall in love with trading first time when you try it, don’t even bother. There are exceptions, of course, but I think that those are very rare.
One exception being a girlfriend?
Eh? Sorry, but I don’t understand.
If you don’t fall in love with a girlfriend the very first time, don’t bother to keep on trying. That’s how I took it.
And that’s true too, at least in my case.
Fxmall
December 6, 2012, 4:30pm
182
I understand that some parents may be hard up to provide for college for their kids…and usually, the kids in question would have to earn their college fees and quite a few business leaders did exactly that. Some never completed college and some, could not afford to go to one until later on…
From http://forums.babypips.com/free-forex-trading-systems/49920-easy-use-quant-system.html
Hey Pip Rock Stars
I have an easy to use Quant system that I would like to share. I don’t know how to attach a file to this forum so if your interested in it add me on skype and ill send you the PDF.
Skypes Name: jacques.francios.joubert
Scam? Your thoughts?
edit: looks like the pdf is directly available for download now.
Definitely. This user is starting threads all over the place with different aliases. Has already been banned once
I am not Banned! Add me on skype and ill send you the pdf for FREE!
I use the system. THis is me, just offering something for FREE! Use it or lose it
See! Proof that I’m Telling the truth!
It doesn’t matter if you are or aren’t, there are forum rules about directing people away from the forum for good reasons.
If you really want to share your system, do it on the forum then no-one can complain about anything.
Scammers! If your system was so profitable, you wouldn’t share it with us. It’s that simple!
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
Satunya
December 31, 2012, 9:58am
189
Good thread, should be stickied.
How can a suspected scammer prove they are legit? I’m following a friend of a friend on twitter who is making typical to good to be true claims, e.g. I made 6000 pips in December on this pair. Also gives the hard sell to users that communicate with him. I asked him how much has made or what the value of those pips are and was told " Does that really matter? I have something you want which is the knowledge to extract 1000s of pips consistently"
Good thread, should be stickied.
How can a suspected scammer prove they are legit? I’m following a friend of a friend on twitter who is making typical to good to be true claims, e.g. I made 6000 pips in December on this pair. Also gives the hard sell to users that communicate with him. I asked him how much has made or what the value of those pips are and was told " Does that really matter? I have something you want which is the knowledge to extract 1000s of pips consistently"
6000 pips on one pair, in just a month?
Man, my skeptic senses are going wild…
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
