Is Practice in demo account enough for a beginner to become successful?

[Razor1911]

The forex trading business has some advantages as well as disadvantages. If a trader can able to gain knowledge and skills then they can earn good income from here, or if a trader trades with carelessness then the trading can be a very dangerous business. SO it all depends upon how traders takes the forex business and works for improvisation.

The forex business can be stated as a very dangerous online business specially for the beginners. We all know the beginners will have higher chances of losing money due to their lack of knowledge and trading skills. So and for that the trader must learn and practice on demo account.

Now my question is that do you think that the demo trading practice is enough for a trader to gain all the necessary knowledge with which they can become successful?

 

[barood4money]

Just practicing at demo account is not enough. First we have to understand why we are practicing. Demo account gives us the facility to learn every strategy, increase trading skills and able to understand market without any risk. The most important thing is the dedication towards learning.

 

[riddick09]

I have to agree. Demo trading isn't sufficient to learn on how we trade on the market profitably. Because, there are more learning still necessary to acquire and to experience the real risk is one of it so it will test our skills in handling the risk further. I only see demo for the selection of our strategy and preparation of it.

 

[Razor1911]

I have to agree. Demo trading isn't sufficient to learn on how we trade on the market profitably. Because, there are more learning still necessary to acquire and to experience the real risk is one of it so it will test our skills in handling the risk further. I only see demo for the selection of our strategy and preparation of it.

Yes you are correct. We can practice on demo for gaining all the practical knowledge, but to gain the emotions, the experience etc. it is a must that we must gain experience in real trading. Demo consist of virtual money and hence no trader can gain the knowledge of psychology and emotions while trading and for that the traders has to learn such things separately on real accounts.

 

[Cutiekc]

Yes you are correct. We can practice on demo for gaining all the practical knowledge, but to gain the emotions, the experience etc. it is a must that we must gain experience in real trading. Demo consist of virtual money and hence no trader can gain the knowledge of psychology and emotions while trading and for that the traders has to learn such things separately on real accounts.

Thats why I have choosen a different way to learn forex trading although some traders as well must have been using it. Well, I have the cent account that helps on my emotion discipline in the sense that I Invariable have to test some strategies in the cent account before applying it to the real account.

 

[Decub]

That called success in Forex doesn't come only by practical learning. We attain success by a combination of both theoretical and practical knowledge of which Demo only guarantees the practical.

 

[Angelic]

That called success in Forex doesn't come only by practical learning. We attain success by a combination of both theoretical and practical knowledge of which Demo only guarantees the practical.

Yes the theorical and also the demo account learning is more than enough to learn forex trading, any additional ways of learning how to trade is just to make it more faster. However. The demo alone is enough for us to trade.

 

[barood4money]

Yes the theorical and also the demo account learning is more than enough to learn forex trading, any additional ways of learning how to trade is just to make it more faster. However. The demo alone is enough for us to trade.

You are right. Learning on demo account is enough to do trade. But it is not enough to earn profit at real account. If it would be so easy, then anybody would learn and earn huge profits.

 

[Razor1911]

Thats why I have choosen a different way to learn forex trading although some traders as well must have been using it. Well, I have the cent account that helps on my emotion discipline in the sense that I Invariable have to test some strategies in the cent account before applying it to the real account.

Yes, the demo account is only for the practicing purposes, and to learn about the psychology and the emotions of the forex business, a trader must trade on real account. And the best way to learn such things is by using cents accounts, and when you will invest little money, then you will also gain experience about such emotions with less risk and that's how a trader should approach towards learning about forex.

 

[Cutiekc]

Yes, the demo account is only for the practicing purposes, and to learn about the psychology and the emotions of the forex business, a trader must trade on real account. And the best way to learn such things is by using cents accounts, and when you will invest little money, then you will also gain experience about such emotions with less risk and that's how a trader should approach towards learning about forex.

Yeah thats right. But just few of the traders actually knows that the demo account can never build ones emotional and psychologically. I also think that this also has been one of the common reasons why newbies fails after performing fine in the demo account.

 

[Decub]

These days, so many people seem to associate Forex learning with Demo. Once you pronounce that you are a newbie, the next direction is Demo, forgetting that Demo is only one of the ways of learning. Even when it has proved effective, an isolation of theoretical aspect could be simply unfulfilling.

 

[barood4money]

I agree with that. For newbies the first important thing is to know about forex. If any newbie don't know that how the forex trading works then how he will trade at demo account. So at first theoretical knowledge is very necessary.

 

[kate beckinsale]

yes the practice of trading demo account is essential for every one to practice and after doing the practice here we can not get real success so to get hundred percent success real account practice is essential

 

[barood4money]

As demo account is the replica of real account, we can get all the facilities at demo account, what we can get at real account. Except that we will not get any earning. So we can practice at demo account as much we want.

 

[ryuken]

Most of the users who do the demo trading on regular basis, should understand that there is always way to learn from the mistakes. it would not be hard for most of the people to learn from mistakes that way. but if we consider the case of those who learn from the demo account, they are suitable for moving to real account.

 

[gkintl]

Practicing in a demo account is certainly required but not enough for a beginner to become successful in forex trading. A professional trader always exhibit a balanced state of mind unlike an amateur who will make impulsive decisions. It is not only strategy but also mind control, patience and determination that enables a trader to become successful. These virtues cannot be learnt from trading on a demo account.

 

[hasan87]

I don't think that only practicing in the demo account is enough for a newbie to be successful in Forex market. A trader need some more extra qualifications. He should have good theoretical knowledge about the terms used in Forex trading. Yes, it is true that nobody can get success in Forex without practicing in demo account. So to be successful a newbie should practice in demo and learn some more things related to Forex.

 

[FXZoK]

You will soon find that demo trading is 180-degree different from real trading :32 (25):

 

[jackcm]

Yes! While trading in demo account, traders don't care how much they lose because virtual money is always available. Therefore, they may not understand the importance of money management and it especially necessary for long-term traders.

Furthermore, there is also impact of feeling, traders sometimes don't know whether they should enter the market: great opportunity vs. fear of losing.

 

[Daisy]

No, a demo is not enough since losing with fake money is no where near the same experiences as losing with your real hard earned money. Also, you might not have enough experiences in a demo if you did not have enough knowledge while you practice it so its useless also. You can try a micro account for another hundred trades or so and then you will see how much more you can learn.