Demo forex trading account.

[Tirus]

The greatest thing about using a demo account is that it is not limited to newbie traders only. For sure, newbies can familiarise themself with the trading platform and practice but expert traders can also revert back here to test their trading strategies or make necessary adjustments to it. In the event of continous losses it may also help to go back here and take a break from live trading for a while.

 

[budado]

That's why I always say that if you want to learn more about forex trading strategy never try to use real account. always try to use demo account. This is the best way to earn money in forex trading. the more you trade in demo the more you learn. the more you learn the more you can earn if you trade in real account. And its also necessary to trade in demo account especially if you have doubt of your analysis.

 

[Tirus]

Unfortunately many people tend to think that the demo account's sole purpose is to help a newbie to get introduced to forex trading. It does indeed get to help all types of traders despite their levels of experience which is why demo account as quite useful to trading.

 

[valexer]

Unfortunately many people tend to think that the demo account's sole purpose is to help a newbie to get introduced to forex trading. It does indeed get to help all types of traders despite their levels of experience which is why demo account as quite useful to trading.

You are actually right. Demo accounts are not just for beginners but for other traders as well. In general, demo accounts are used for practice bot just by beginners but also by veterans to try out their new strategy. Of coarse it is the best option to practice your newly developed strategy so that in cases where the strategy is week, you will still not loose money because you are in demo trading.

 

[Tirus]

Yes, even for experienced traders because you can get to work on your trading strategy and test it out here where there is no risk of it going wrong and incurring losses in the process. The last thing you want is to try out a new strategy in live trading because if it doesnt work you are bound to encounter losses.

 

[budado]

Yes, even for experienced traders because you can get to work on your trading strategy and test it out here where there is no risk of it going wrong and incurring losses in the process. The last thing you want is to try out a new strategy in live trading because if it doesnt work you are bound to encounter losses.

And also if you are developing EA or new bots. You really need to use demo account for that.
I guess in the long run those who really serious in forex trading will understand this facts. Because most newbies or most wannabe traders actually have some doubts back in their mind that they can earn money in forex that's why they don't try to maintain demo account. Because they feel they are just waiting their time and trade in real account instead hoping for a jackpot.

 

[monyitomon]

As for me, I am waiting when I have the skills in trading then I will give more time in Forex trading because this year it's a learning process for me, as I just tried trading with small amount because I just lose it, I just take it for experience.

 

[Tirus]

This is where you need the demo account even more @monyitomon. You need to get as much practice in the demo account as possible so that when you eventually switch over you will be in a better position to make profits. In here you will eventually get to find a strategy that is comfortable for you to allow you to maximize your trades.

 

[Syrine22]

Sincerely Tirus has been right all along to me.Demo account isn't majorly for newbies only but it is likewisely an avenue for experts in forex to re-strategize means of gaining rather than lossing.Also new trading technics can be brought to limelight.

 

[faceless]

But I find that trading with a demo is a completely different experience. Of course if you want to test out your new strategy, then use the demo, in case you make a big loss. But once you change to the real account, everything would seem much different. Your judgement and decision would be much more pressured.

 

[riddick09]

Its not really complete different but they have some difference like the emotions that getting involved in those two. In demo we will not have experience many emotions involved while in real trading there will be and this should in mind of traders. But the strategy and the forex market will be the same.

 

[budado]

Its not really complete different but they have some difference like the emotions that getting involved in those two. In demo we will not have experience many emotions involved while in real trading there will be and this should in mind of traders. But the strategy and the forex market will be the same.

Even emotions must be the same. If you take demo seriously then its going to be the same. Problem with many newbies is that they see demo account as playing account and not as training account. They don't take it seriously. That's why when they trade in real account they get nervous.

 

[valexer]

Even emotions must be the same. If you take demo seriously then its going to be the same. Problem with many newbies is that they see demo account as playing account and not as training account. They don't take it seriously. That's why when they trade in real account they get nervous.

You are probably right. When I was still starting in forex and I am trading in demo, I did not take it seriously in the first dew weeks. When I started losing in demo, that's when I started to take it seriously as if I am trading with areal account. I think it is really helpful to feel what it is like losing everything so that you will be more inspired to enhance your level of performance.

 

[Syrine22]

I wish to have a demo account om my mobile anyone knows a site that that would be possible because since i am still a newbie i want to start practicalising my theoritical knowledge of forex through a demo account.please anyone willing to help??

 

[indieover]

it is not easy to practice demo account on a mobile. not all mobile phones are supported even if you are using an android phone. not unless you have a very good phone like iphone. but when i have my iphone by december i would definitely tryto use demo account with my mobile phone also.

 

[pinoycity]

Actually, I think, it is not easy to trade forex using a mobile phone. It does not matter if you are trading via a demo or a real account. I guess, with all those things going on outdoors, it will distract you from your trades. But then again, I must confess that I have not tried it yet. Maybe, some people are more flexible than other people.

 

[budado]

Actually, I think, it is not easy to trade forex using a mobile phone. It does not matter if you are trading via a demo or a real account. I guess, with all those things going on outdoors, it will distract you from your trades. But then again, I must confess that I have not tried it yet. Maybe, some people are more flexible than other people.

I do agree. If you want to trade in mobile phone its better just for checking the current price or update the pending request of payments. But doing analysis in mobile phone? Then I guess if you have a tablet screen and some how you can clearly see the chart its okay. But if you have blur eyes like me then you need to use desktop or laptop.

 

[valexer]

I do agree. If you want to trade in mobile phone its better just for checking the current price or update the pending request of payments. But doing analysis in mobile phone? Then I guess if you have a tablet screen and some how you can clearly see the chart its okay. But if you have blur eyes like me then you need to use desktop or laptop.

I actually make us of my tablet in trading and so far it is working pretty nice. I haven;t tried using my mobile yet but I can actually visualize what could be happening on a 3 inches screen and I know that it will be difficult so I guess I will not just use my phone.

 

[brokenblade]

It will be a long time before I use my mobile for anything other than making a call. I have enough trouble trading Forex with my desktop computer. Yeah, demo accounts are much different from actually trading due to the fact that you are more emotionally involved in the real account.

 

[budado]

I actually make us of my tablet in trading and so far it is working pretty nice. I haven;t tried using my mobile yet but I can actually visualize what could be happening on a 3 inches screen and I know that it will be difficult so I guess I will not just use my phone.

I guess you have good visualization. But in my part its not as simple as that. I don't rely on visual only. I rely on formulas and computations and what ever the result of the analysis that will be my position. that's why for me I need big screen. Even if I'm using laptop right now I still have hard time viewing all as theirs so many indicators open.