Live trading and demo trading

which is easier among the two for a beginner?

Definitely demo if you are a beginner. You might lose money fast with live trading without any knowledge in forex.

thanks for you advice, do you have any more to advice as a beginner?

Its not so much what is easier but rather whats logical. A demo account allows you to practice before the big game (even though I don’t like to refer to it as a game because it is a business). It allows you to put your strategy in place before jumping in the deep end. Thats what great about FX. No other business lets you practice.

To get you started, I would suggest reading up on [B]support/resistance[/B] and [B]japanese candlesticks[/B] to get you going in the right direction. Read everything you can about the subjects as there are different types of support/resistance (fibs, MAs, trendlines, etc.)

When you do a demo you should use the same amount of cash that you would in trading live. :slight_smile:
This creates a simulation as close as possible to the real thing.

Trading live is definitely different.

When you trade demo, your money is “virtual” - it is merely and image, like what you would see in a magnifying glass.
The market does not know it is there because it is not really there at all - just make believe.
There is no fight for your money because you have no money on the market - just “virtual money”.

[B]When you trade for real, things are different.[/B] :eek:

Live forex trading is like a flock of hungry seagulls fighting over an amount of left over fish + chips on the beach!!
[B]What a raucous!![/B]
The biggest and toughest seagull gets the chips!! :smiley: :smiley:

[B]Same with forex trading.[/B]
With real money, it can be seen on the market - like fish + chips.
Its up for grabs!!
And unless you trade well, you will lose your money quick.
You have to fight like that big, tough seagull to get someone else’s money - that is a profit!!

great, thank you so much, I am just curious on the other guy said about live and demo trading that’s why I am asking some opinions.
as a beginner, I think this will really help, I hope more infos will come, :slight_smile:

absolutely demo.

if you trade live u’ll just end up losing money.

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.