Live trading and demo trading

I commend you for asking the question, however you should not be contemplating any kind of trading until you have at least completed the BPschool. You will then have many more questions to post here before you start to trade your first DEMO account

You loose real money in live trading. Its a no brainer really :slight_smile:

start with a demo account just to understand the basics, then open a real trading account at Oanda with a few hundred dollars you can afford to lose : they are the only broker that have 1 pip spread even for tiny account.

If you’re successfull with that tiny account for several months, then you just multiply the size of your account and the size of your trades.

roger that, I’ve been reading about it and some articles and tutorials, I guess there are a lot of things I need to learn, . :confused::confused:
I’ll start at level 1, a novice.

oh comon, someone scolded me for being not so informative, :(:(:(:frowning:

At the risk of repeating what everyone esle is saying; Demo for anything from 6-12 months before you open a live account. Otherwise emotions will get the better of you.

The senior traders here have a wealth of infomation to share and a lot of war stories to tell of the mistakes they made when starting out.

Read everything you can get your eyes on, (including other forums like Forex Factory :o).

One of the difficulty in trading is psychology. Using a demo account doesn’t put any real pressure on you. So use a real account but a small one where you put money you can afford to lose 100% but you’ll challenge yourself not to lose it of course.

Contrary to futures market whereas you’d better open a 10000$ account at least, in forex you can open a tiny account at broker like Oanda and still get the same spread as if it was a normal account.

does Oanda safe for a beginner, I had read a thread says that oanda target profit in points is not good, or does the user is not that good.

If I understand what you are saying correctly, oanda is a good broker for the most part. If someone is complaining it is more than likely because they are “not that good.”

I have had the market SL hunt me, and avoid my TP levels like the plauge, but as far as Oanda goes they have been great to me, no complaints so far. I’ve had a lie account for 3 years, maybe 3 and a hafl… I think, I’m not really sure.

I opened a small acount, I’m down a total of $215 or so in that entire time. Trying to get back to having a positive realized P&L.

I would demo to try a new system until you are confident that it works and comfortable with the platform, then trade with very little cash, if your going to use Oanda when you feel ready. You can always go back to demoing. I went back and forth many times when I started, now I only use a demo to test a system I’m unfamiliar or uncomfortable with.

If you decide not to use a broker like Oanda, I would demo longer but because that option is out there I would use it if you decide to use Oanda. Try many different brokers out there, get a feel for them, call their customer support, etc. Then if your happy use them as your broker if it is Oanda or not.

The market will SL hunt incorrectly places SL’s, that isnt any brokers fault, that a sign of a trader needing more experience on where to place them.

I think that user is “not that good”, as I read your comments, it seems oanda is one of the best. Im just sharing on what other people says for confirmation

There is a huge difference between demo trading and live trading. In demo trading you never loses the money because its all imaginary. You are relaxed because you didn’t have the fear of loss. But in live trading when you lose you become hyper and instead of recovering the money you make another move in a hurry which causes more loss.

For beginners demo account trading is recommended. Straight away jumping to live trading will not be wise at all. Practice on demo as much as you can and when you are confident and knowledgeable enough make the switch to live. Live trading is where the real money (and real experience!) is at. You don’t want to take that kind of risk so early on.

So true, there is no difference. The only difference is that in demo you are trading with virtual money, so you don’t have any kind of fear, stress and you actually enjoy trading.
But when it comes to the live account then everything comes along with that, real tension, pressure, fear of loss. That is the only difference

As a beginner you should start with demo trading. It is just like live trading with the only difference being that in demo accounts there is no real money. Rest, including the trading conditions, is exactly as they would be in a live account. But you should trade seriously on demo account if you want to learn real forex trading.

There is a huge difference between a live trading and demo trading. You should have to do some work on a demo account for the experience and knowledge about the forex market. You can’t do so on the live account because at that place their is a huge possibility that you lose your all the money you had in your account. Because at initial stage you don’t knows the market well.

Demo trading comes first then live trading for obvious reasons. There is a reason you can’t trade with real money in demo accounts

In your beginning stage; keep practicing in demo. Don’t waste your money until your are making money in your demo account.

Demo account trading is the thing you must do before live trading. In live trading, you invest actual money and the loss ratio is greater as you are not aware of the basics and fundamentals of trading. Demo trading is free of cost and anyone can trade in it with no restriction and limitations.

for beginners, demo account is a must.