How a Demo account proves to be effective for beginner?

[barood4money]

Obviously, they see and skip demo trading perhaps they are excited or ignoring the basics and rush to have real trading for their aim of huge profits. Demo account is used for our testing and to devise our trading strategy. Without preparation we are bound to fail.

I absolutely agree with this. Most of the newbies avoid learning to enter the platforms very fast. So that they can start earning quickly. But they never think of the result until they suffer failure or huge loss of their money.

 

[Decub]

Obviously, they see and skip demo trading perhaps they are excited or ignoring the basics and rush to have real trading for their aim of huge profits. Demo account is used for our testing and to devise our trading strategy. Without preparation we are bound to fail.

And they forget that those basics are the real foundation of Forex. There are little things you learn from the introductory part of any Forex learning/training material that you use later in trade. I can remember that the first place I heard about the value of currency being traded in Forex daily is in a very little 5-paged book I got from a friend.

 

[barood4money]

Yes. Basic learning is the base or foundation of a career same as of a building. If the base is not good then it is sure that a career can get smashed like a building can get smashed. More you give dedication to the learning, more you get confident about your work.

 

[Cutiekc]

The demo account obviously is the best place where any begginer should start from in the sense that it give a vivid account or picture of how the real account will look like, just imagine how you will be able to locate the buy or sell button or in short how to place an order without learning from the demo.

 

[barood4money]

Yes, thats true. You can get all the practical training at Demo account. It will help to understand all the prospect and utilization of real account without any cost.

 

[kate beckinsale]

yes demo account is especially made for those peoples who have no experience of trading and they wanted to do the trading then in demo account they can all do the work proper and get trained full and easy access

 

[Decub]

Yes, thats true. You can get all the practical training at Demo account. It will help to understand all the prospect and utilization of real account without any cost.

I still wonder what those who say they prefer the mini account to the Demo see to make such preferences. In the Demo account, you have higher chances of playing around with your trades in a bid to develop strategies and you are sure you have nothing to lose afterall while those few cents that you lose in mini accounts accumulate to give you some avoidable losses.

 

[kate beckinsale]

to start the business of online trading we should do first practice of the demo account in full and then we should start the work otherwise in real account all our savings will be lost and instead of benefit loss will occur

 

[Angelic]

I still wonder what those who say they prefer the mini account to the Demo see to make such preferences. In the Demo account, you have higher chances of playing around with your trades in a bid to develop strategies and you are sure you have nothing to lose afterall while those few cents that you lose in mini accounts accumulate to give you some avoidable losses.

It is not as if they prefer the mini account to the demo account but in real sense, the demo account is free and has no emotional effects while trading with it. But after dealing with the demo and on coming to the mini account you can get emotionally disciplined.

 

[barood4money]

Here is the most important thing needed. Demo account should always be treated as real account. Don't take it too seriously or too lightly. Because it both ways you will learn nothing. Here is the chance to make efficient, confident and disciplined ourself.

 

[kate beckinsale]

to start the practice of trading we should first do the practice in the trading demo account because it has been designed for the peoples to learn more and more about and then they should work in the real account and the peoples who work in the begining without training in demo account must have do loss in their life

 

[Decub]

It is not as if they prefer the mini account to the demo account but in real sense, the demo account is free and has no emotional effects while trading with it. But after dealing with the demo and on coming to the mini account you can get emotionally disciplined.

That then becomes a personal thing and it is something the person affected should always deal with. I feel it is that which we do to ourselves because for me, If I think this is a learning platform, I will hold on to it and take it as serious as if I invested my money in it because failure is failure and it has a way of demotivating someone.

 

[Angelic]

That then becomes a personal thing and it is something the person affected should always deal with. I feel it is that which we do to ourselves because for me, If I think this is a learning platform, I will hold on to it and take it as serious as if I invested my money in it because failure is failure and it has a way of demotivating someone.

That is not personal due to when you have to think twice about it then you will see that it will help on developing fast a newbie both emotional and otherwise. I have even seen many posters at Fxfred recommending that to beginners.

 

[Decub]

That is not personal due to when you have to think twice about it then you will see that it will help on developing fast a newbie both emotional and otherwise. I have even seen many posters at Fxfred recommending that to beginners.

I mean if you consider the fact that some feel there is no emotions attached to the Demo account. I just do not see the Demo account as only a learning platform but a trading account as well filled with all platforms, charts and concept of a real account.

 

[barood4money]

Every human being does everything to survive in this world. But you cannot say that all the human being survives at same pattern or way. Every person has his own characteristic. If few person doesn't take demo account seriously then that doesn't mean that all people don't take demo account seriously.

 

[Angelic]

I mean if you consider the fact that some feel there is no emotions attached to the Demo account. I just do not see the Demo account as only a learning platform but a trading account as well filled with all platforms, charts and concept of a real account.

It is just about being honest here, yes the demo account is close to being just like the real account but unfortunately the demo account runs of virtual(non real currency) which will make any trader that practise or trades on it trade with emotional carefree simply due to the fear of lossing real money isn't there at all.

 

[Decub]

Every human being does everything to survive in this world. But you cannot say that all the human being survives at same pattern or way. Every person has his own characteristic. If few person doesn't take demo account seriously then that doesn't mean that all people don't take demo account seriously.

Well, I think that holds a greater percentage of the solution. While certain people think that the Demo account doesn't hold water and shouldn't be taken so serious, people like myself will still keep it to high esteem.

It is just about being honest here, yes the demo account is close to being just like the real account but unfortunately the demo account runs of virtual(non real currency) which will make any trader that practise or trades on it trade with emotional carefree simply due to the fear of lossing real money isn't there at all.

I still think that such traders who will exhibit that carefree life may as well do such with bonus and cent accounts.

 

[Angelic]

Well, I think that holds a greater percentage of the solution. While certain people think that the Demo account doesn't hold water and shouldn't be taken so serious, people like myself will still keep it to high esteem.

I still think that such traders who will exhibit that carefree life may as well do such with bonus and cent accounts.

Not true, you still ain't getting the gist. See there is somethong about emotions. Which means that when you have the cent account as your real money which you worked for, by posting in forex based forums of other place you wouldn't want it to be wasted. So one will be more careful on trading with the cent or real account.

 

[barood4money]

I think that a person who has interest to do something in life and want to take forex trading seriously, he will try to learn every aspects and will not miss the chance to learn something. And that type of people becomes an expert trader.

 

[Decub]

I think that a person who has interest to do something in life and want to take forex trading seriously, he will try to learn every aspects and will not miss the chance to learn something. And that type of people becomes an expert trader.

Sure, and that is what I think as well. Learning in Forex cuts across so many aspects, not minding the way it tells on you or your financial commitment to it. Demo provides the same thing a real account does so what stops a newbie from taking advantage of it.