Does everyone use a demo account?

BGIFX

Newbie
4 0
Demo accounts are the best for testing strategies. But you don’t feel real emotions by trading on a demo account. Instead of trading on a demo account, I always recommend learning to trade on a live micro account instead.
Does a live micro account have the same conditions as a normal live account?
 

Mark-Mckensie

Junior member
10 0
In my opinion, most traders use the demo account. The beginner traders used to learn about the forex market and understand the brokers' platforms.

And it is also used to develop news skills or practice new strategies, which is also suitable for experienced traders.
 

sebking1986

Active member
195 67
I think that micro accounts are a good graduation from demo for sure. But starting on demo is the first step most miss out on as they want to learp into trying to make money.
 

tomsmiths

Junior member
28 7
I agree that demo accounts are not the exact replica of live trading accounts. But with FinproTrading, I found the least difference between the two. Yes emotions play a huge role in live trading which is nil in demo.
 

earlchristensen

Junior member
40 5
I think that micro accounts are a good graduation from demo for sure. But starting on demo is the first step most miss out on as they want to learp into trying to make money.
Yeah, micro accounts are the next logical step for sure.
 

Jungletrader

Member
87 12
Oh most definitely you can still use a demo account to forward test your own strategy and refine it .
As others have said it does lack that aspect of real money on the line
 

Jungletrader

Member
87 12
By far the best way to get a feel for the markets .
Forward testing strategies even refined entries and exits for experienced traders.
Still use one to this day
 

HeavLeighGill

Active member
115 31
Despite the differences, I still think demo accounts are a necessity. You do miss out on some of the psychological aspects of trading, but it's the best hands on tool for beginners and surely has helped many to avoid some early losses.
 
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hatemypips

Established member
702 61
Demo accounts are the best for testing strategies. But you don’t feel real emotions by trading on a demo account. Instead of trading on a demo account, I always recommend learning to trade on a live micro account instead.
Emotions from micro losses are not quite strong to teach your correct emotional approach to trading. But well it can help you to experience how live trading is how transaction costs impact your trading.
 

marthasanders

Junior member
22 0
@HeavLeighGill - Rightly said that a demo account is a must for beginners and it really gives you the opportunity to know the system well. It's very important to understand how to use the tools before you jump into real trading, and for this reason, the demo account plays a very vital role.
 

Eg1989

Newbie
3 0
I did when I first started out just to try and build a bit of confidence, Im still fairly new to trading, but I don’t tend to use it now.
 

earlchristensen

Junior member
40 5
@HeavLeighGill - Rightly said that a demo account is a must for beginners and it really gives you the opportunity to know the system well. It's very important to understand how to use the tools before you jump into real trading, and for this reason, the demo account plays a very vital role.
If you ask me, I won’t suggest anyone spend months on demo trading as it can fill them with unnecessary expectations and when the time comes to trade in the live market, they take huge risks just because they were performing well on their demo account.
 

earlchristensen

Junior member
40 5
Emotions from micro losses are not quite strong to teach your correct emotional approach to trading. But well it can help you to experience how live trading is how transaction costs impact your trading.
It’s obvious that you will be more concerned when you have put a bigger amount at risk. But when you are on a micro account, you will somehow sense the threat to your money and will try to save it.
 
 
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