How a Demo account proves to be effective for beginner?

[glucoseguy]

Even though I'm yet to begin forex trading, i consider a Demo account as being essential because we could gain some experience from it before going into real trading. Having a forex expert or tutor to put us through isn't enough to qualify us for real trading. Some people are quick learners though, and may not require a Demo account but i think majority need it. Those that start with a Demo account have higher chances of becoming successful traders though.

 

[barood4money]

I agree with you. Demo account is very helpful to learn about trading at starting stage. You can use demo account as you use real account. Demo accounts helps to understand the trading strategy without losing any money.

 

[Decub]

I agree with you. Demo account is very helpful to learn about trading at starting stage. You can use demo account as you use real account. Demo accounts helps to understand the trading strategy without losing any money.

Well, this takes me to the idea of some who say they prefer trading in cent accounts to a Demo account. To me, it makes a whole lot of sense playing around a platform where you are sure your investment is not at stake. But it's there own way of trading/learning anyway.

 

[barood4money]

It is right that demo account just helps to increase confidence and to learn strategies. But the most important thing is dedication to learn and to adapt the skills. Whether it is demo account or real account.

 

[Master Forex IB]

i had no doubt on effectivemness of demo account because I k\learn most of trading on it. I clear my concepts anout forex ,came to know how this market works. we just having no profit or loss indemo but canget better idea about loss and profit , how they are determined.

 

[Cutiekc]

Well, this takes me to the idea of some who say they prefer trading in cent accounts to a Demo account. To me, it makes a whole lot of sense playing around a platform where you are sure your investment is not at stake. But it's there own way of trading/learning anyway.

Thats not a good reason because there are still needs that even though they will be prefering the cent account then they should do that after trading with the demo account. The demo account offers knowledge on a priceless boon. So therefore it will be more reasonable if they should first trade in the cent account first after they feel like they are don with the demo account.

 

[barood4money]

It is totally stupidity to learn trading with real account. There will be always fear of losing, hence it will be very difficult to boost confident. Using demo account is the best way to increase confident and skill because you stay risk free and out of fear.

 

[budado]

In demo account we can trade and practice without fearing that we will get MC. I do recommend that we spend more time trading in demo account if we are beginners to make sure that we can really end up in profit. I know its really hard to sustain and maintain our account. So lets hope that in the long run we all going to be profitable trader.

 

[barood4money]

In demo account we can trade and practice without fearing that we will get MC. I do recommend that we spend more time trading in demo account if we are beginners to make sure that we can really end up in profit. I know its really hard to sustain and maintain our account. So lets hope that in the long run we all going to be profitable trader.

I agree with you. We get demo account at free of cost. It is for learning, not for playing. Newbies should use their demo account as carefully as the real account. Otherwise there will be a chance lose the demo account if handled carelessly.

 

[ryuken]

I think demo accounts tell you how to be more effective when it comes to the trading and learn to make less mistakes there. I don;t think that it would make you long term money. You should identify yourself with the things that makes you even more money over a period of time. that is something you need to understand.

 

[Cutiekc]

I think demo accounts tell you how to be more effective when it comes to the trading and learn to make less mistakes there. I don;t think that it would make you long term money. You should identify yourself with the things that makes you even more money over a period of time. that is something you need to understand.

Yeah thats right the demo accoint tells us how to do forex trading and also tells us how a particular trading system will work when applied on the real account, the demo shouldn't be neglected because without the demo there are some common mistakes that we won't be able avoid. Although the demo platform has limits to what it teaches us.

 

[barood4money]

Yes, at demo account all the mistakes are forgiven. And it gives the benefit to understand that mistakes which is not allowed at real trading. But it is also true that there is also a limit at demo account.

 

[riddick09]

Mistakes in demo is obviously the possible mistakes that we can make it real trading and therefore, it should be taken seriously about the mistakes from the demo trading. And also that it's a way to learn the strategy and become efficient trader that accept the risks in trading.

 

[Master Forex IB]

Demo account is for practice . You can get all practical learning of this market on demo easily .You had no fear of loosing your amount. It is big advantage of demo that you can trade until you are not skilled then try to trade with actual money.

 

[Decub]

Thats not a good reason because there are still needs that even though they will be prefering the cent account then they should do that after trading with the demo account. The demo account offers knowledge on a priceless boon. So therefore it will be more reasonable if they should first trade in the cent account first after they feel like they are don with the demo account.

Sure, Demo account should be one's first landing point for practical learning immediatey after learnimg the theories part of business.

 

[barood4money]

I believe that every newbie should start with demo account to get all the practical knowledge. And they should learn until they get enough confidence about earning at real account.

 

[Angelic]

the demo account has that obvious factors that shows that it proves effective to newbies in such a way that it is a demostrative account in which the only difference that the real and demo account has are currency difference. Thus, they have the same market movement and strategy which is profitable with the demo will also be profitable when applied precisely to the real account.

 

[Cutiekc]

Sure, Demo account should be one's first landing point for practical learning immediatey after learnimg the theories part of business.

But some begginers jumps to the demo account first that way, they dont get the benefits they dont get the positive effectivenes of the demo account. In addition the demo account apparently also proved anti flaw detection in trading system because a good trader will invariable test the tradingg system first on the demo account.

 

[Decub]

Sure, no doubt, and if you take a statistics of those who rush out of Forex eventually, those set of traders cannot be ruled out. To me, that is simply jumping the gun in Forex. It should be one step at a time.

 

[barood4money]

If any newbies think that it is waste of time to read ebooks on forex and practicing on demo account, then that will be their biggest mistake. Result will be a huge loss and realizing the mistake start learning.