I’ve been trading on demo since last week.
So far, I don’t see why it’s scary or difficult.
What is it that is scary or difficult about it?
What are some examples of bad things that could happen?
The worst I see is making a slip judgement but the order can always be closed with a minor loss.
where is the doubt?
If done properly, there’s nothing scary at all.
Study forex, like you would any other business. Dont use money you cant afford to lose. Dont take losses personally. Do due diligence on brokers before wiring them money. Ignore “get rich quick” scammers and anyone offering shortcuts.
Simple, straightforward, commonsense
There is nothing scary or difficult about trading a demo account - that is the whole point of using one. It means that you can concentrate on studying price action, indicators, strategy building/testing and money management without the stress of worrying about your own real money being at risk.
Once you are confident with trading your demo then is the time to put your own money at risk following all the guidelines and advice given above by Eddieb.
The worst thing that ever happened to me when I started trading was the difficulty of “taming” my mind of not being in a trade.
Before I jumped into the field, I read a lot of Forex books. I felt that I was really equipped to trade. As a precaution, I started with the demo account which was no problem of doing it with one of the techniques that I got from the book.
When I started the real account, then I had some difficulty with my discipline. I felt that I have to be in the position all the time, I could not calm if i do not have any position at the time. Sometimes if there is no signal on the chart, I still wanted to have trades. I made a lot of losses that time, most of the time because I keep setting the stop loss higher and higher until I lost the money.
Until I realized that the key is patient and discipline.
To be in Forex trading is actually not as scary as what people thought if you have a very good discipline. If you have a good technique to trade, Has been backdating tested, patiently waiting to trade when the indicators are in play, I think it is not going to be much scary.
some notes:
“1. The market only closes at the weekend, they are always open.
2. If you want to trade, but there is no opening. Remember point no.1”
Thanks,
Fivefoottraders
Trade for a few more months on a demo account, but don’t forget that eventually you have to do the same with real money. I’m sure that in a few months time you will notice plenty of things that would be very concerning if you were trading with a live account - your own inexperience, the market becoming very volatile during big news, etc.
After finding the right direction and making the trade it’s just a matter of how much profit I want to take before it goes bust isn’t it? That’s all there is to it right? Rinse and repeat.
That’s point of forex? Yes? No? Is there something I’m missing.
In a nutshell that is about right, yes 
However, in practice it is not quite so simple. You may be able to decide the direction correctly but if your timing and you stop-loss positions are incorrect then you can still lose even though you trade in the right direction.
Equally, you may take profits whenever you are in the money, but if you take profits too soon then you may not be covering your occasional losses or trading very efficiently, or, on the other hand, if you aim for too much then your trades may fall short of your targets and even reverse into a loss position.
Choosing direction and profit taking are maybe the core activities, but whether you actually make money and optimise your trading also demands good judgement regarding timing of entry, position size (money management), setting sensible stops, choosing the most suitable timeframe, deciding sensible and viable target levels, following the time of important data releases, and probably a lot of other things as well!
You don’t understand it, because you just trading for a week on demo. Put some goddamn money in a real account and after 3 months you’ll stop behaving so uncomprehendingly, I’ll guarantee it. 
It’s like asking for example “what is hard about being a professional football player? You just run and kick the ball.” Yeah right.
The hard thing in trading is not putting on winning trades, the hard thing is putting on winning trades in a consistent manner.
There is nothing scary on demo trading, but also there is nothing good too. The scary part is when you move to a life trading and start losing a lot because what ever you can see or learn on demo trading is not going to work on life trading. The reason is very simple: trading psychology!!!
Demo trading is not very difficult. The real deal starts when you come to live account. Only then you feel all the emotions and wanting to win every time. You only start getting feared when you see your real money lose in many trades.
I get it. In the end the goal is to earn much more than we lose by the time we retire.
forex is deep
making me ask myself so much philosophical question.
I’ve already registered a live account.
Might as well get a taste of this live trading psychology.
The sooner you know it the more you can prepare for it right.
Going to start with $1000 next week.
I think lack of understanding about market is the only scary or difficult due to which most of the people are getting confusion. We should get the proper practice on demo account in order to learn market fluctuation and ups and downs, we can overcome this scary after having proper knowledge and practice.
Yes demo account is free from emotion pressure and usually will easier than trade in real account, because usually use huge capital and no emotion pressure, although faced large loss floating still not scared will losing money, but trade in real emotion has high role during trading.
I see it now :18::18::18:
Traded live first time today.
EUR/USD
Started with 1000
made 9 bucks
then New York session just started and BOOM! sharp, sharp, shaaarp dive.
Would have lost it all if I didn’t let it go reading the final warning signs.
Still made 1.50 in the end lol
Most nerve wrecking 1.50 I’ve ever made.
Yes stop loss!
Never go out to the sea without it.
Trading without stop loss is risking 1 grand for 1 buck.
Insane decision
Lesson learned.
Going back to demo now hahahaha.
Is not using stop loss the reason people get margin call?
Exactly and we should keep it as much tight as its possible. My SL at Hotforex is only 15 pips as I’m extreme scalping. Sometimes get 7-8 losing trades then one profitable trade recoup everything.
I really want to learn to do this right
For starters, keep learning first about forex trading, look into some good advice from before up to present, read lot things like topics, forums, articles, and other stuff related to forex, and focus on the common things that most mentioned by all. Demo first to find your working profitable strategy… demo demo demo, don’t rush, keep on demo 'till you’re sure you’ll be able to profit for a long period of time…
and after that…
If you would start with real money on a live account, you should put it in your mind that no matter what you do in this stage, no matter how confident you are, you will loose your first account. YOU WILL LOOSE YOUR FIRST ACCOUNT, if not, your second, third…and so on…Why?..because loosing with a lot sum of real money is the only way you’ll learn how to trade properly in forex… which is exactly the most scary/difficult thing in forex… is trading with your emotion when real money is at stake.
… and… the next scary thing would be your broker.
If your broker allows, I would open another 3 accounts within your main account and split your $1k between them. Then if a trade goes pear shaped you only lose a quarter of your money