New trader not interest about Demo trading but we know Demo trading is the most important for new and beginner. We can solve many problems by demo trading, but when any traders start real trading. Without Demo trading He must be faced lose. So we need demo trading or if you thinking Demo is waste your time you can join demo contest. You can easily get free bonus by demo contest.
So I think Demo contest is good for beginner.:17:
Before registering for demo contests it is important to get to know about demo trading well. Demo trading will not waste your time. It will teach you the basic things specially how the platform works. However you won’t get an idea about trading psychology.
I think this is usually the best idea for any newbie. During my school days, I won twice on two different brokers. By the time I was done with my schooling I had 4K to trade live. So its a very good idea
I think demo trading is the only way to learn trading, and a demo contest can be helpful to learn how to control your emotions without any financial damage, but I think the goal of demo trading is to learn about trading and to find and test your strategy. A contest has got nothing to do with that, so you can do it, but it doesn’t help to achieve your goal.
I believe the way to do it is:
-learn trading and find your strategy on a demo account
-test your strategy for a long period of time and finetune it on demo
-start your strategy live, with microlots, to learn how to control your emotions
-increase your lotsizing very slowly when you are succesful with microlots, but not too fast and never risk more than 2% of your account.
Contests are fun and maybe you’ll learn something, but they are not necessary in this process of learning.
Definitely start with a demo account. The demo account lets you get familiar with the platform, with the currency pairs, leverage and the markets in general
I think that a demo account is the best way to go if you are a novice or a trader without working knowledge of trading. I know many people who started off this way and now they are successful traders. With a demo account you can learn by trial and error without risking your money, and you can work on your own strategy, like I used to do, and then put it all to test.
Surely you can’t be serious about a demo account being a waste of time! It’s a great way to dismiss many doubts, especially those about the brokers. And, trust me, bonuses aren’t everything. I’d choose a demo account guided by a pro trader anytime over any bonus if I was a beginner.
Demo contest help new traders to improve their trading in competition . Here they can do trading wothout any fear of loosing money . Conditions of timand usage of capital as well as no of trades make traders managed in this market. They follow certain rules which is beneficial in real trading .
Demo contests are bad for your mind… In order to win, you MUST trade at a level that you really wouldnt do in real action…
Your training your brain to do something, that is no use in your future… You will learn bad habits, and they will follow you to your real acount…
Peter, you been here for over a year, Get off the demo already… Your waisting time.
Oh boy, No and No! They are the worst and are highly counter-productive especially for newbies. Stay away and take the time to learn how to trade.
Demo contest for newbies - why not? It’s experience. Gooв or bad but it’s still experience. Plus you don’t lose anything.
I’ll read everyone’s comments about this later(trading now), but I like demoing everything and the added element of the thrill of competition is something regular demoing doesn’t have. It’s like demoing the anxiety found with real gain and loss.
Personally I demo trade, trade live micro account and demo compete. What I find is that by demoing in competition makes any lack of respect for the business of day trading glaringly obvious.
Just my humble opinion :57:
Hey me too… I’ll do it! If I have enough experience I would…
There is nothing wrong to do Demo contest. I think it is a good way to boost your confidence and yes, you won’t lose anything except your time but even then it is a good experience. I guess if you have that kind of personality who likes to get a feel of the thrill and excitement why not…I don’t know if it is the same thrill as the “Sky Diving” though…
Yep, not for newbies. It is like going in a battle without doing your homework or have a profitable system/strategy in place. I think demo contest is more appropriate for the experience trader… but then again there is nothing wrong to try
Demo contests can be bad. Since it costs nothing, the way to win is to use high-risk strategies and money management, and hope you last long enough before you blow up. I was looking at the demo contest on HotForex. These are the results of their current competition:
There’s no way you can replicate that kind of performance in live trading without blowing up.
i don’t think they are good, makes me do stupid trades
I agree with you, we can’t gain even 5000% a month for a long time. It would make our account blowing up.
demo contests are a good way to blow some steam off if you ask me, to try out new high risk strategies and its a given never do on live accounts what you do on a demo contest, the results are not bad at all, I think i saw one the gain at 22k% in one week hahaha thats some crazy trading 
I have never entered into any demo contest. Though it is time wasting, but it is a good way to enhance your thinking ability and get some money to start trading (if you win)
They can be if they are connected to the real ecosystem.