Is demo trading valuable?

[Bahiya Shinam]

Why not? Demo is the only one valid way to learn Forex without any money, you just need to invest your time in demo so honestly! Then surely you’ll be benefited in your live trading! I think, starting with small trading amount is a good practice in demo!

 

[Underwit]

Depends on its purpose! If you think, you will become a pro trader by trading on a demo account, then NO. Demo makes nobody a successful trader. It’s there to help you with the skills. Nothing more! If you want to make money, then take small risks and trade. You will learn the most of it only by trading live.

 

[Nayek Pichai]

The thing that helps you develop your skill and increase knowledge must be valuable. Demo trading is essential not only for new traders but also for old traders. Old traders trade here to apply new strategies whereas new traders come here to develop themselves.

 

[Eduardo Lucchese]

Definitely, demo trading account is valuable. It is valuable not only to new traders but also to old traders too. This account is funded with virtual money enabling traders take as much as leverage they and the capital too. It helps them heighten their experience of trading.

 

[CarmeloGiroux]

Of course, it is! Nothing can replace the confidence that you gain by practicing on a demo account. It gives you plenty of chances to explore the market and take risks that make you learn and prepare you for the live market in return.

 

[Faal]

the demo is really important for all kinds of traders , but the main problem is most of us don't believe the importance of this trading place at all.

 

[Viral22]

I think one difference with demo and live trade is your mind set, if you apply the same energy as you would in live to demo trade one can bridge the gap between the two.

 

[omegastuff]

Ofcourse yes! Not just beginners but many pro traders still use it to backtest their strategies/methodologies. I have learnt so much on demo personally.

 

[Andrew McCalam]

the experience we the traders take from demo actually not works in a real account at all. so be careful

 

[Svetlana Loboda]

actually right now its very difficult to make sure 20% return according to trading balance due to US election. but whatever it is we the traders always try to bring profit minimum 5-10%.

 

[FXOpen Trader]

actually right now its very difficult to make sure 20% return according to trading balance due to US election. but whatever it is we the traders always try to bring profit minimum 5-10%.

When we are making use of the demo trading account we can test different kind of trading systems easily

 

[soilacasa]

Pros of demo trading

1) It enables you to observe how price action develops and understand the dangers associated with leverage.
2) You can test and create your own trading strategies.
3) You get acquainted with the trading platform, which is important to know the trading conditions.

Cons of demo trading

1) It can create bad trading habits.
2) You can’t develop good risk management strategies and trading psychology since you trade with virtual money.

 

[Marim]

Demo accounts can provide some benefit to new traders because they allow the trader to become familiar with trading software and get a sense of how the market works. However, traders should be prepared that simulated results rarely correlate to actual trading results. Traders must be aware that execution, capital, and emotions can be different when trading real money (as opposed to fake money in a simulation). Traders can make demos more realistic by excluding orders that are unlikely to have been filled in the real market, factoring in slippage, keeping the demo account capital similar to the amount that will actually be traded, and making demo losses and profits real by incorporating external stimulus.

 

[jaspermillard]

I am not denying that demo accounts are important but I won’t even suggest depending too much on your demo results. They are mere simulators and the live market looks different. So, you better use a small amount when you start to trade in the live market.

 

[Brew200]

Yes, very valuable to all traders, whether you just started or you've been in the market for long. Demo is vital!

 

[David Marco]

Demo trading works as a practice ground for traders because demo trading is vital for all newbies. Practicing in demo account helps widening his skill. But we traders are highly disengaged from demo trading rather they want to jump onto trading directly to make a quick buck. But it’s where they make the prime mistake.

 

[FXOpen Trader]

Demo trading works as a practice ground for traders because demo trading is vital for all newbies. Practicing in demo account helps widening his skill. But we traders are highly disengaged from demo trading rather they want to jump onto trading directly to make a quick buck. But it’s where they make the prime mistake.

With the help of Demo trading accounts we can learn trading and also make a visible progress.

 

[beanpole]

It depends on what you make of it! Demo accounts are excellent when it comes to building skills. Traders can use them to create trading strategies and understand the market’s complexities & subtleties. However, if you think that you will trade like a pro after you move you live trading, then the answer is no. Both accounts are different in terms of experience! Choose a demo account for skill building. .

 

[A_S]

Even after you've decided to trade live, demo trading can be extremely beneficial and valuable. Many successful traders will test strategies in a practice account before putting them to the test with real money. Demo trading does not guarantee profits in a live account. Many traders, however, agree that failure to achieve success in a demo account will almost certainly lead to failure in real life. As a result, demo trading is critical to the growth and development of forex traders.

 

[Flabbergast]

Is it possible to win a game without understanding its rules? No. Likewise, it is not possible to make money in forex without the skills. To develop them, you need an environment where you don’t lose money. And that’s what demo accounts do for you. So if your purpose is to develop skills, then demo accounts are valuable for you.