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  1. #1
    Senior Trader
    Join Date
    Mar 2015
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    399
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    My Language
    English

    Why demo account?

    Generally, most of the novice Forex traders are not interested on demo, because it doesn’t pay real money! But as a new Forex trader you need to learn first, and for learning demo is the most effective way! Nowadays, demo trading service is very available here! Almost all of Forex brokers are offering demo trading service!

    That’s really good news for new Forex traders! The main benefits of using demo account is, you can make prepare yourself here for your live trading by working with your trading strategy and plan!

    By the way, don’t use your practice account without any plan! Like, you can start your learning session through basic, then gradually you can add new topic of learning! You should cover here, technical, fundamental and psychological topics here! Make your trading personality in your demo thus you can enjoy your live trading! I have a question for all of expert group members, how may days did you use demo?

  2. #2
    Trader
    Join Date
    Aug 2016
    Posts
    74
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    45
    My Language
    Arabic
    When I was a new Forex trader, then I haven’t enough money! That’s way, I used my demo trading account so willingly! But its true, in the 1st month of demo was so challenging! I crashed my demo account for three time because I used over-trading strategy! Whatever, then I reduced my trading lot size and I concentrate on my trading procedure rather than trade number! In addition, I used my demo account for one year, without any trainer my demo trading experience was very challenging.

  3. #3
    Senior Trader
    Join Date
    Mar 2015
    Posts
    382
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    English
    Well, I practiced my demo account for seven months only! I worked with 16 trading strategies in my demo account, I modified them by many different ways to find out best monthly return! My modified session was only for three months, and I observe there monthly percentage for others 4 month! I found 3 effective trading strategies among of 16! Now I am making 18-21% monthly return by using my demo trading strategy in my live!

  4. #4
    Senior Trader
    Join Date
    Mar 2015
    Posts
    383
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    Credits
    110
    My Language
    English
    Before opening demo account, you need to know how to operate demo account! Otherwise, it would be valueless! I see, there have so many directional posts here, so use MyForexForums before opening your practice account! In addition, I used my demo account according to my plan! As a result, I enjoyed my demo trading sessions, learning is an endless process, till now I am learning but I made my trading foundation in my demo!

  5. #5
    Senior Trader
    Join Date
    Mar 2015
    Posts
    383
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    My Language
    English
    Quote Originally Posted by Andre Silva View Post
    Generally, most of the novice Forex traders are not interested on demo, because it doesn’t pay real money! But as a new Forex trader you need to learn first, and for learning demo is the most effective way! Nowadays, demo trading service is very available here! Almost all of Forex brokers are offering demo trading service!

    That’s really good news for new Forex traders! The main benefits of using demo account is, you can make prepare yourself here for your live trading by working with your trading strategy and plan!

    By the way, don’t use your practice account without any plan! Like, you can start your learning session through basic, then gradually you can add new topic of learning! You should cover here, technical, fundamental and psychological topics here! Make your trading personality in your demo thus you can enjoy your live trading! I have a question for all of expert group members, how may days did you use demo?
    I have a different experience, yes I used my demo in my early stage of trading, no problem at all! But when I stared my live account then faced emotions and greed for the 1st time, and I lost my 1st live money within 6 days! Then I opened a cent account for make dealing comfortably with greed and emotions! And recent journey, I have opened my ECN live account after practicing one year cent account!

  6. #6
    Super Moderator
    Join Date
    Mar 2015
    Posts
    262
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    222
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    English
    It’s a free service, so new traders use this learning opportunity so eagerly! Which pro traders are making regular money by doing their live trading, no doubt they were very sincere in their demo! You need to use same strategy and plan in your demo and live! Honestly, there is no short cut way of learning! So, novice traders need to use their practice account until make a consistent result for a long time!

  7. #7
    Junior Trader
    Join Date
    Jun 2015
    Posts
    22
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    0
    My Language
    English
    We all need to Perform practice on DEMO account before jumping on real and live trading where we need to deposit our own funds.
    Now a days, almost every broker offers FREE DEMO Account for all. However, my belief is that the Demo trading environment must reflect the Live trading environment as closely as possible.
    Last edited by Steve nison; 09-09-2017 at 02:48 PM.

 

 

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