For beginner: demo or micro ?

[Davidfx89]

i love doing demo because it is the master place to become a knowledgeable trader very rapidly. so we the traders should choose demo account first of all.

 

[soilacasa]

Beginners should always start with a demo account to hone their trading skills. A demo account does not involve any risk of losing real money. So beginners can back-test different trading strategies on various trading platforms using their demo account. That will boost their confidence and build the right frame of mind before entering the live market using a micro trading account.

 

[Fx Master]

The bigamies first of all have to focus on money management skill , if they want to get maximal result by their trading strategies. Cause, devoid of proper money management plan it is not possible at all to make profit with consistency despite of having most powerful trading strategies.

 

[Nezami]

In Fx trading each the trader has a choice of the broker to be used , should the trader can choose a broker that is more appropriate to the concept of trading that will be used , the traders who are particularly scalpers have to choose the broker that allows trading concept such as this.

 

[justintaylor]

Both demo and micro accounts are good depending on the purpose you use them for. Demo accounts should be your next step after obtaining the basic forex information while micro accounts should be your step after demo trading to test the live market.

 

[lynnsandoval]

In demo account, you can test your strategy to find out the winning percentage and risk reward ratio. We can not test any strategy directly to live account without knowing properly.

That’s the right approach. Once you develop the trading skills and gain confidence, then one should move to live trading.

 

[skihav]

Starting with a demo account is a practical way to enter into the market. Demo trading helps traders to develop trading skills and develop strategies. You can put them to use by participating in small trades using micro accounts.

 

[maxlvg]

Beginners should choose to trade forex on demo accounts first, as they may experience large losses since they are new to the market. Demo trading offers the opportunity to trade currencies without the risk of real loss.

 

[Kazumu Fukunaga]

Beginners should choose to trade forex on demo accounts first, as they may experience large losses since they are new to the market. Demo trading offers the opportunity to trade currencies without the risk of real loss.

Yes demo is important. We can't test a strategy on live account to know how the strategy works unless have enough money to loss. It's the demo where we should test any strategy first. If it gives good results in demo we can try on live.

 

[Kevin Vogt]

Yes demo is important. We can't test a strategy on live account to know how the strategy works unless have enough money to loss. It's the demo where we should test any strategy first. If it gives good results in demo we can try on live.

Yes demo is very important for both newbie and experienced traders. Without testing your strategy in demo it's not wise to use it in live trading as you don't know how the strategy works.

 

[dwaynegibbs]

Demo trading must not be done for more than a week because you would start filling yourself with unrealistic expectations that you may not achieve in the live market. The micro account would let you trade in the live market with low amounts which is a better option when you want to see how your strategies actually work.

 

[mixnmatch]

unrealistic expectations that you may not achieve in the live market.

You're correct to an extent but it depends amount of knowledge about the market, so can vary from individual to individual.