I don't know what "Yes but not alone" means..Is it advisable for a new trader to start investing his/her money while learning the trade?
- Yes
- No
- Yes but invest little
- Yes but not alone
Maybe it means you ask Fido for advice ...I don't know what "Yes but not alone" means..
I wouldn't dismiss demo accounts like that. You don't experience trading psychology phenomena on a demo account, and that is important to keep in mind, and a lot depends on the person, but how you build your strategy matters. Strategies are not set in stone, there are technical things that can and should be improved if needed such as risk management.It's money ( skin in the game ) that provides the proper motivation to get it right. Demo accounts are worthless. Most all strategies are dogs with flees. It's the person that makes that strategy work. One of the ways in which that person makes it work is by acquiring experience working with risk under pressure. Demo accounts aren't going to get you there. You don't have to have a large account; try and keep a $100 account alive.
I wouldn't dismiss demo accounts like that. You don't experience trading psychology phenomena on a demo account, and that is important to keep in mind, and a lot depends on the person, but how you build your strategy matters. Strategies are not set in stone, there are technical things that can and should be improved if needed such as risk management.
Well said. Still money changes everything. Spend all the time you want on demo; I think it likely that what looked good on demo will tend to look a lot iffier when money is involved and I am talking about small amount of money. Open $100 account. Trade one microlot. Learn what it's like to lose money; a valuable skill in my opinion. Timing entries and exits is hard to do consistently well. But all that said, I do take your point.I wouldn't dismiss demo accounts like that. You don't experience trading psychology phenomena on a demo account, and that is important to keep in mind, and a lot depends on the person, but how you build your strategy matters. Strategies are not set in stone, there are technical things that can and should be improved if needed such as risk management.