Why you shouldn't demo trade

This is a discussion on Why you shouldn't demo trade within the General Trading Chat forums, part of the Reception category; Originally Posted by seekingTruth16 None of the things you mention, such as arm bands, swimming the shallow end is harmful ...

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Old Sep 3, 2017, 5:16pm   #61
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Originally Posted by seekingTruth16 View Post

None of the things you mention, such as arm bands, swimming the shallow end is harmful to your survival, but not doing them and jumping in the ocean could be. I don't think many qualified swimmers would say to a swimming student, don't bother learning to swim in a pool first, just jump in the ocean with nobody around to save you and go for it. Or perhaps there are, it's just that there are few surviving students left to tell the story.
I am not suggesting that we jump into the ocean to learn (hope it didnt come across that way? im not a masochist). We must use the small pool 1st, as its real, and will create an emotion which we will then need to react to. It is a real environment, in which we can put our feet down if we fail to swim (small stakes stop out). You also need to see if you are freaked out by water (as some people are). If you are comfortable and succeed in swimming in the small pool, you move to the big pool, then ultimately the ocean.

We then realise that we can swim anywhere, and adapt to most conditions. In trading terms this means we can trade in all conditions (by limiting liability when things dont work out), hence the argument against systems etc. A decent trader can adapt and make a call on the market most of the time, and if they are wrong they know how to reduce the damage. This then reduces the need for certainty, and develops an ongoing improvement in controlling emotional threats that we will encounter. Which over time will mean improved trading results.

Rather than having to try to formulate another system or bot when the current one starts to falter


All IMHO of course, we all do what we want in the end.
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Old Sep 3, 2017, 5:53pm   #62
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Originally Posted by wallstreetwarrior87 View Post
I am not suggesting that we jump into the ocean to learn (hope it didnt come across that way? im not a masochist). We must use the small pool 1st, as its real, and will create an emotion which we will then need to react to. It is a real environment, in which we can put our feet down if we fail to swim (small stakes stop out). You also need to see if you are freaked out by water (as some people are). If you are comfortable and succeed in swimming in the small pool, you move to the big pool, then ultimately the ocean.

We then realise that we can swim anywhere, and adapt to most conditions. In trading terms this means we can trade in all conditions (by limiting liability when things dont work out), hence the argument against systems etc. A decent trader can adapt and make a call on the market most of the time, and if they are wrong they know how to reduce the damage. This then reduces the need for certainty, and develops an ongoing improvement in controlling emotional threats that we will encounter. Which over time will mean improved trading results.

Rather than having to try to formulate another system or bot when the current one starts to falter


All IMHO of course, we all do what we want in the end.
Thousands of years of dna arouses subconscious behavioral patterns , these keep coming to life in your ocean , but what is required is being in the ocean for 6 continuous months (the mental training period for survival ) , your account will survive after 6 months of mental training for managing loss.
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Old Sep 3, 2017, 7:45pm   #63
 
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ill read the thread fully later but i think its good to use a companies demo to get a feel for the platform.
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Old Sep 15, 2017, 4:51am   #64
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A demo should be a good learning tool but being serious with it is also an important fact of the trading. If you are serious then go for a demo.
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Old Sep 29, 2017, 3:30pm   #65
 
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Demo account is a good thing but only for getting used to the platform and testing trading strategies. You need a real account to get actual trading axperience.
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Old Sep 29, 2017, 6:20pm   #66
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We're all different I guess. I started in a live market on a options desk (screen based) and I trully found it scary. It took me much longer to learn due to irrational fears and even used to have nightmares about it ��. The emphasis was on getting the hedge right and despite it being rather simple, my mind was going blank. Even After a while I was capable of trading decent size in the broker market but still had issues with the screen. Looking back, had there been a demo option at the time I think I would have had a much better time.
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Old Sep 29, 2017, 6:24pm   #67
 
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Originally Posted by Illodius View Post
Demo account is a good thing but only for getting used to the platform and testing trading strategies. You need a real account to get actual trading axperience.

If you treat the demo account like you would a real account (i know thats not always easy or done, but do it) why isn't it helpful in fleshing out & improving your trading skills etc?
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Old Sep 29, 2017, 6:33pm   #68
 
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Originally Posted by carryontrading View Post
We're all different I guess. I started in a live market on a options desk (screen based) and I trully found it scary. It took me much longer to learn due to irrational fears and even used to have nightmares about it ��. The emphasis was on getting the hedge right and despite it being rather simple, my mind was going blank. Even After a while I was capable of trading decent size in the broker market but still had issues with the screen. Looking back, had there been a demo option at the time I think I would have had a much better time.
Having 'a better time' is not what its all about. I also reckon had you have started on a demo account, you would have turned out very differently. That's why I don't like demo accounts.

Funny though, all the brokers and spreadbettors love giving them out for free ???? Not sure why????
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Old Sep 29, 2017, 7:10pm   #69
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Having 'a better time' is not what its all about. I also reckon had you have started on a demo account, you would have turned out very differently. That's why I don't like demo accounts.

Funny though, all the brokers and spreadbettors love giving them out for free ???? Not sure why????
You sound just like my old boss and him saying I was live in the market is still one of the scariest things Ive experienced , and I had guns pulled on me on two occasions.

I totally agree that a certain level of competence is reached faster but still, if I had the choice I would have taken a longer junior role duration in exchange for more enjoyment.
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Old Sep 29, 2017, 7:21pm   #70
 
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You sound just like my old boss and him saying I was live in the market is still one of the scariest things Ive experienced , and I had guns pulled on me on two occasions.

I totally agree that a certain level of competence is reached faster but still, if I had the choice I would have taken a longer junior role duration in exchange for more enjoyment.
Lol.

Back in my earlier days I frustrated my governor so much he pulled out my (messy) drawer and started throwing the objects at me tribunal style.

By the time he got to the scissors I was sh1tting myself, he stopped and laughed all while using the most offensive language that my mama would have used the soap on.
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Old Sep 30, 2017, 3:45am   #71
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If you treat the demo account like you would a real account (i know thats not always easy or done, but do it) why isn't it helpful in fleshing out & improving your trading skills etc?
The problem is with the word "if". Generally when you are in "demo" stage of development, there is seldom any understanding or application of position sizing, money or risk management towards the trading. It is the leverage (risk) that usually kill most new accounts. This is besides the main attribute in trading that you will never get out of demo and that is the psychology or mental performance piece.
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Old Jan 5, 2018, 7:36pm   #72
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The problem is with the word "if". Generally when you are in "demo" stage of development, there is seldom any understanding or application of position sizing, money or risk management towards the trading. It is the leverage (risk) that usually kill most new accounts. This is besides the main attribute in trading that you will never get out of demo and that is the psychology or mental performance piece.
But for what is worth, newbies should still try out demo trading. Though your point is quite logical in that some attributes of real trading are not met by demo account. But it gives traders that sense of what the market is like, more like a closure to real trading.
in a nutshell, your attitude in demo trade protrude into real account!
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Old Jan 5, 2018, 8:18pm   #73
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To demo, or not to demo- that is the question:
Whether 'tis nobler in the account to suffer
The slings and arrows of outrageous losses
Or to take arms against a sea of troubles,
And by starting with demo avoid them.

Last edited by Kaeso; Jan 6, 2018 at 12:57pm.
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Old Jan 8, 2018, 2:14pm   #74
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To demo, or not to demo- that is the question:
Whether 'tis nobler in the account to suffer
The slings and arrows of outrageous losses
Or to take arms against a sea of troubles,
And by starting with demo avoid them.
I would also add this quickly, demo trade is not just important for newbies but also for professionals too.
I say this because there might be features we need to try out but might be scared of bad outcome, but we can always try this out with demo trade without the fear of lose. It is true you might not get exact results as with real trade, but it would definitely be close.
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Old Jan 10, 2018, 12:44pm   #75
 
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I would also add this quickly, demo trade is not just important for newbies but also for professionals too.
I say this because there might be features we need to try out but might be scared of bad outcome, but we can always try this out with demo trade without the fear of lose. It is true you might not get exact results as with real trade, but it would definitely be close.
I'll ask you, dear trader.
How often did the demo account help you, and were the demo results at least approximately equal to those on the live account? Thank you.
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