i’ve been using demo for like a month now and so far it’s been very easy earning??? is that a bad thing ? like i haven’t even finished half the learning courses i just been looking at the charts and putting trades in and i’ve been doing pretty good ? was it like that for you guys too ? o
Demo and real money are far different due to the high and low emotions , once real money is on the table the emotion takes over from your skill
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For some traders the worst thing that can happen when you first start trading is you make easy money. It makes you casual, you ignore your own strategy’s rules, you increase the positions sizes too far too soon, you get over-focused on the chart for the next trade and ignore the wider perspective, etc. etc.
If you’re earning demo money consistently, keep doing it but make sure you follow a consistent methodology. Then move to a live account but use tiny position sizes. This is your own free training course, don’t throw it away.
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I agree with everything that has been said by the guys above.
Trading in the financial markets is extremely challenging.
What does ‘been doing pretty good’ mean?
It sounds like luck.
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Beside the fact, that demo accounts are because of several reasons “softer” than real accounts,that’s the worst thing that can happen at the beginning- you follow certain rules, make fast profits and think you are Superman
( I experienced that😏)
You increase your positions, and suddenly what worked last week doesn’t work anymore and all your money is gone. Than you realize, that your trading worked by incident in a certain market situation, but not in general and you have to start learning everything from the beginning.
So before you jump in with all your money check out if your rules also work on a longer time horizon, or test it with micro positions real time.
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that may be true… i’m in this group where people share analysis of the charts and they sometimes send signals so i’ve been following their movements and learning a little there that’s why i haven’t been relying on the lessons here … but i’ll definitely educate myself so i can do good on my own thank you!
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You’ve got to have skin in the game to experience the emotions of trading. That simply isn’t there on a demo account so you let trades run far longer when they go against you than you would in real life. Plus the demo accounts give you a lot of money to play with that you probably won’t have in a real account, so you can let trades run without worrying about margin! Also be careful of people giving ‘signals’, especially if you have to pay for them. Very few people give away good information when they are trading themselves.
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No lol… I had a rocky start and made some silly mistakes on demo but it’s all about learning
Back then, I read an article that spoke quite well. When talking about fund traders, they use technology. ordinary traders have to find a loophole, unfortunately that is difficult
If you are making profit then it’s obviously good, do not think about others what they do or not, be confident about your trading strategy and try to develop skill as much as you can.
Open a small account with real money and see how that goes for you I found it a little different to demo.
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There is nothing called easy earning. Earning involves efforts and risks. If you think you have enough skills to start live trading go ahead. However, be sure to move with smaller steps. Don’t take higher risks without planning.
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trading can be easy if you can ensure all inevitable part of trading, otherwise this is the most difficult place in the world from all sectors.
One of the reasons why forex is seen as an easier kind of trading than other investing strategies is that it is quite simple to get started, even if you are a complete novice. Basically, you can begin by opening an online trading account with a reputable forex broker.
Yes, if you think you’re earning well in demo trading, then you can switch to live. There are a lot of factors we ignore while demo trading, such as trading with the right emotions, because you trade without real money.
there’s indeed a big difference between real money and demo
emotions will get to you
I think this is pretty much what set difference between demo and live. Emotions and usage of real money