No experience- do not to start real trading

[Jack Francisco]

You are a newcomer in trade, I say to you that if you do not have any experience in trading with demo market, do not start real trading, if you start you will lose your account probably.

first try demo- then go for a mini acc:clap:

 

[perox]

You are a newcomer in trade, I say to you that if you do not have any experience in trading with demo market, do not start real trading, if you start you will lose your account probably.

first try demo- then go for a mini acc:clap:

Agree. Demo trading is essential before going live. Another important thing is trading psychology. Without these things no one can survive.

 

[Splitlink]

Agree. Demo trading is essential before going live. Another important thing is trading psychology. Without these things no one can survive.

Demo is ok to learn how the platform works and how to get used to the speed at which trades can go. However, what demo does not do is give the trader the reaity of risking money. Only live trading can do that, My opinion is, trade live with minimum stakes, but trade live.

 

[NVP]

i'd also recommend 6 months of studying the many methods involved and then practice the Mechanics of Trading on a Demo first .....you will probably have a raw system in place after 6 months of research to make a start

N

 

[VielGeld]

Imo, don't even move off demo until you have something.

Start on demo, experiment.
Go live with v.small stakes to understand that you have nothing.
Go back to demo until you have something.

THEN you go live!

 

[robertofx]

Demo is ok to learn how the platform works and how to get used to the speed at which trades can go. However, what demo does not do is give the trader the reaity of risking money. Only live trading can do that, My opinion is, trade live with minimum stakes, but trade live.

Hello,

True. For a newbie it's better to start a live accounting with a small deposit. I also learned to feel the reality in that way. However my first account gone within two days. But learned a very good lesson from that.

 

[Giovan]

better start by reading through the basics of trading for a month, demo trade for 6 months, then open a $200 mini and that will be the first day in trading for you.
Gio

 

[kimo'sabby]

Demo is ok to learn how the platform works and how to get used to the speed at which trades can go. However, what demo does not do is give the trader the reaity of risking money. Only live trading can do that, My opinion is, trade live with minimum stakes, but trade live.

Crazy advice.

 

[resistance]

It is not actually a crazy advice. If you use minimum lot or mini account in real trading then you will also feel the emotions that are not present in demo accounts. So after basic training we need to move in real accounts at smaller lot size.

 

[VielGeld]

No, it is crazy advice. Your emotions should be tempered by the idea you have a method or a plan for contingencies. You're risking money for no reason other than the emotional experience, which is, by the way, what gambling is all about.

Do go live with very small stakes to get a feel (Oanda allows you to risk very little), but I personally don't believe there's any emotional difference between live and demo. If you can't make money on demo, you don't stand a chance live.

 

[malaguti]

No, it is crazy advice. Your emotions should be tempered by the idea you have a method or a plan for contingencies. You're risking money for no reason other than the emotional experience, which is, by the way, what gambling is all about.

Do go live with very small stakes to get a feel (Oanda allows you to risk very little), but I personally don't believe there's any emotional difference between live and demo. If you can't make money on demo, you don't stand a chance live.

I agree, and all you would have done is ended up losing the money (however small) anyway. What emotions are you going to feel trading at 10p a point....oooohh me nerves just cant take it!

 

[resistance]

I will say it again that Micro accounts are best when we have to go in live accounts. I mean if you do not have experience then you will not enter the live accounts? You have to enter one day so start with micro.

 

[perox]

Demo is ok to learn how the platform works and how to get used to the speed at which trades can go. However, what demo does not do is give the trader the reaity of risking money. Only live trading can do that, My opinion is, trade live with minimum stakes, but trade live.

Yeah true. Demo trading will not learn the psychological aspects of trading such as greed and fear. To get the real feeling we need to go live. Like you said with a minimum investment. Never risk money that you can't afford to lose.

 

[Rambo35]

Yeah true. Demo trading will not learn the psychological aspects of trading such as greed and fear. To get the real feeling we need to go live. Like you said with a minimum investment. Never risk money that you can't afford to lose.

The only way you can learn how to trade is by trading in a live account. I recommend micro-accounts for that.

 

[kimo'sabby]

If you can't make money on demo, you don't stand a chance live.

A real, "gem"! I suppose we could expand and elaborate, but i think you've outlined the real hard facts here.

 

[NVP]

Markets & Brokers are always happy to swallow money in any denomination or sizing

let them trade ...........let them trade
N

 

[neil]

Imo, don't even move off demo until you have something.

Start on demo, experiment.
Go live with v.small stakes to understand that you have nothing.
Go back to demo until you have something.

THEN you go live!

Along with Splits advice above your entry -excellent advice (especially the psychological effect of trading live - with small stakes initially - to experience the true reality of trading and its' effect on your mental coping ability)
Good luck

 

[Steve]

All good advice from differing perspectives but I have to say that no amount of paper trading and small stake trading prepared me for the sickening knot in my gut when the real stuff (DAX futures) started to go against me. That's the thing to get under control amongst many others. All good learning though!

 

[Rambo35]

All good advice from differing perspectives but I have to say that no amount of paper trading and small stake trading prepared me for the sickening knot in my gut when the real stuff (DAX futures) started to go against me. That's the thing to get under control amongst many others. All good learning though!

I agree that no amount of paper trading or demo trading can prepare you for what you will experience in a life account. I do not understand why so many ignore the psychology involved in trading.

 

[neil]

I agree that no amount of paper trading or demo trading can prepare you for what you will experience in a life account. I do not understand why so many ignore the psychology involved in trading.

Good point Rambo -many people have a shock when they experience the effects of risk upon the mind.