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

[Mark Dahl]

Real trading is also important to learn due to psychological facts.

 

[FundUp]

Practicing on demo accounts is definitely one of the best ways to learn trading but along with it, you should also follow the market on a continuous basis.

 

[Cedric Fenech]

Practice in the demo account will teach you the fundamentals that you need to know as a new trader.

 

[lotcamel]

No, it is never enough.
Demo trading is not the same as live trading. They tend to differ because emotions are involved in real trading, and you need to have an understanding of risk and money management as well. Keep all the factors aligned to become a profitable trader.

 

[Tom Latham]

the demo account is really important but most of the times the experience of demo works to fail , because there is no real money.

 

[bidveal]

Nothing is enough in trading. Practicing on a demo account can be an added advantage, but to become successful, beginners need to also manage their funds, risk, as well as greed and fear.

 

[samrex]

You will learn the basics of trading as a new trader by practicing on the demo account.

 

[Tom Latham]

success is a big deal in this market place because most of the traders who are particularly beginners always become a loser . so be careful guys when trading into this . good luck

 

[maxlvg]

Practicing with a demo account is important as it provides you with every feature of trading which will help you to trade live. But alone demo accounts can’t make you successful. You need to trade on a live account. You may start trading with micro accounts with a low amount of initial deposits.

 

[Kevin Vogt]

In demo account, we can test our strategy before applying it on live trading. It is not a good idea to use any strategy directly to a live account without any experiment.

 

[kathrinedees]

Demo trading is helpful for traders to develop trading skills and come up with their trading strategies. But in live trading, traders are also required to control their emotions because psychology plays a critical role in trading, which traders learn to control during live trading. Demo doesn’t prepare you fully, but skill-wise every trader should demo trade.

 

[skihav]

The purpose of demo trading is to help traders enter into the market with some set of trading skills. Traders learn to create and test their strategies, so they can earn profits when they begin live trading. However, demo trading eliminates emotions and risk management since traders trade freely with fake money.

This poses a barrier. There is also psychological pressure on traders when they trade with their money. Traders can overcome this pressure and gain confidence if they begin live trading with micro accounts.

 

[CarmeloGiroux]

A demo account helps a newbie to gain confidence and gives a virtual taste of trading. There is no fear of losing your real money using a demo account. It is essential to practice on a demo account before entering the live market. However, you can become a trader only after you start real trading involving your fiat currency. Live trading demands a different mindset, involvement, responsibility, and calmness that can never be achieved using a demo account.

 

[miriamgriffin]

Demo accounts give a rough idea about trading. The real learning about trading and market trends is learnt while trading on a live account. Only the time spent on the live trading will decide your success and failure rate. If you spend more time on live trading you are likely to learn and experience more.

 

[Gallimaufry]

No, it is not enough, But it is important. Trading in a demo account and trading in a live account where the real money is involved is different. Before you trade in a live account, backtesting the strategy on demo is the most important thing to do.

 

[Kazumu Fukunaga]

The demo account is the master place for a beginner to acquire all basic fundamental information which is very supportive to continue a live account in a proper way. But practically most of the beginners don’t believe the importance of this trading place at all. In my trading career, I use all my trading strategies in demo trading to see the performance how it works.

 

[Flotsamm]

Unfortunately, practicing on a demo account doesn’t do anything more than filling you with confidence and making you a little familiar with the live market. To become successful, you will have to trade in the live market and learn from your experience. You can use a small amount to start with so that you don’t end up losing big.

 

[Kazumu Fukunaga]

the demo account is really important but most of the times the experience of demo works to fail , because there is no real money.

Yes you are right. In many brokers, demo platform and live trading platform has a huge difference. It's wise to avoid such brokers.

 

[lynnsandoval]

Demo accounts are designed to help traders to get acquainted with the real trading interface and develop trading skills by trading with virtual money. Why this isn’t enough is because trading includes emotions and risk management, which many traders ignore because they trade with money that is not real. Therefore, demo accounts are not enough. The best approach would be to enter into the forex market with small risks, after substantial time on a demo.

 

[nicktheking]

Demo is important but one thing which you can't learn on demo is - emotional management. For this, you need to go live. You can start small with a micro account.