Don't start with real money!

[brewski1984]

You don't learn anything until it costs you real money.

Having said that I do still use demo accounts for random trades I don't take with real money just to see what would have happened.

 

[Masquerade]

Having said that I do still use demo accounts for random trades I don't take with real money just to see what would have happened.

What's the point? Is it an ego thing? What good comes of being right?

 

[brewski1984]

I take them on demo as a way of stopping myself from taking real trades I shouldn't. I understand how irrelevant it is to a real trade but that's one way I try to avoid over trading.

 

[juniorh]

I take them on demo as a way of stopping myself from taking real trades I shouldn't. I understand how irrelevant it is to a real trade but that's one way I try to avoid over trading.

This is a tactic that I use too. But I ensure that I journal these trades as thoroughly as I journal the trades on my live account making a special side note describing the reason why I took the trade on my sim account.

 

[stopdownlimitup]

Just looking at the chimpanzees which run the world is enough. Don't need to put money at risk for a sociology lesson.

Good point

 

[Gregfx]

omg a vendor!!! oppress oppress!!!!!!!

I disagree

True, a demo account should be used to learn what buttons to push on the platform but any other trading practice should be done with real money.

The detachment you feel when you lose on a demo is really teaching you nothing.

I traded on a demo platform to learn to trade, you think you have the skills to identify patterns and discipline to keep your losses small but once real money is involved suddenly losing in a trade becomes a financial loss ... the proverbial fan is hit with the proverbial excrement

I agree with you, Come on ! everyone knows that when you start trading you need to trade as much as you can with a demo account yes, but also have at least a small account with real money so you can know how you feel, react and control your emotions when you are loosing or winning, and that you can only experience with real money.

Good LUCK !

 

[LuKOs.ro]

If you don't want to risk a lot of money as a beginner, then you could open a micro-account. There are a plethora of FOREX companies offering micro-accounts, with as low as 1c per point.

Cheers,
Lucian