Practicing in the Forex Market

[Tirus]

You are correct because this practice in the demo account is vital for any trader to undergo before they can even think of going into the real account. It is only after they have successfully gone through the demo account and see great results that they can consider making investments in the real account. The practice therefore is necessary.

 

[riddick09]

What we have used in the demo trading is just the same market and it is not virtual market. So far, if we have good practice in the demo this will give us confidence that our trading strategy are worthy and working to make profits thus, sooner we will test it out in making real profits.

 

[ayushsrk]

You are correct because this practice in the demo account is vital for any trader to undergo before they can even think of going into the real account. It is only after they have successfully gone through the demo account and see great results that they can consider making investments in the real account. The practice therefore is necessary.

Demo accounts are not really a compulsion but a option because there might be some confident traders that will try to analye the market itself in the real accounts and then only go for the trades.But when it comes later on to creating and using strategies it is demo accounts that come into use hugely.

Because nearly 80% of the experienced traders use demo accounts for just that one purpose and that is to use their strategies and then test about how they are going to work for him.Because without such tests it can prove to be really hard for the traders to understand and gain in the market.

 

[Tirus]

Demo accounts are not really a compulsion but a option because there might be some confident traders that will try to analye the market itself in the real accounts and then only go for the trades.But when it comes later on to creating and using strategies it is demo accounts that come into use hugely.

I dont see any reason why you should go directly into the real account when you dont even know how to use the trading platform in the first place or implement techniques that can help minimize losses. You really have nothing to lose by practising here and a lot more experience to gain that will save you money you will probably lose trying to find your way around.

 

[budado]

I dont see any reason why you should go directly into the real account when you dont even know how to use the trading platform in the first place or implement techniques that can help minimize losses. You really have nothing to lose by practising here and a lot more experience to gain that will save you money you will probably lose trying to find your way around.

But the sad reality is that 90% of newbies loss money in real account simply because they don't spend enough time trading in demo account. They think that demo account is just a waste of time. Why trade in demo account and if you earn you only earn virtual funds but in real account if you earn you earn real funds right away. But this newbies does not thing that if they loss in demo account they only loss virtual funds but if they loss in real account they loss real money and when they end up MC. They say forex is scam, very risky and so on. But the truth is that they just don't know how to trade.

 

[chintu]

Yes it does not guaranty that if a person have done a lot of practice with demo account then he is an expert in forex . a good decision making skills is very much required in forex and it come from our knowledge but i can surly say that demo account is very helpful to learn many things in trading .

 

[sindarin]

Yes it does not guaranty that if a person have done a lot of practice with demo account then he is an expert in forex . a good decision making skills is very much required in forex and it come from our knowledge but i can surly say that demo account is very helpful to learn many things in trading .

demo account only give you limited skills, but if you choose real account then it will different, not meant to be bad but that demo account is good for a newbie(totally newbie), which don't know anything or the place for some expert to relax and make new strategy of their trading style. they can increase your skill but not that much.

 

[Tirus]

The demo account does have limited skills in the sense that you cannot really feel the psychological factors of emotions for example which is something that one will experience more in the real account. That doesnt make it useless though and once you have a good grasps on the demo account and have a strategy you can then make the transition to get further practice and start earning.

 

[sindarin]

yeah that is right as i said before that newbie is good with demo account but don't spend long time there like 6 months or even more, i think for newbie that truly want to earn from forex 1 or 2 months is fine, to make them familiar with the system, after that they need to move so they can earn and feel like what is the real trading which is different rather than demo trading

 

[budado]

No matter how long you practice in demo account its going to be useless if you can't apply it in real account. I see many newbies who also tried to practice in demo. But I guess they are not that serious mentally or they don't take demo account seriously as they feel they are not earning money at all. And by the time they decided to invest in real account they feel fear of losing their funds and their confidence is not their to help them out and end up getting MC.

 

[Alan Rich Online]

Yes, it doesnt mean that once you come out of the demo account you are automatically an expert who will make lots of profits in live mode too. You are still going to get some more practice in the live account but the only difference is that the experience you had in demo will come in handy now as opposed to leaving demo prematurely.

It can be very different once you are on the wrong side of a trade when it is real money, admitting your wrong early on will save you thousands.

 

[Taha Nizam]

the more we business the more encounters we get as well as information. Studying from our errors is always aspect of the procedure but we can always understand from the others error to cut down enough time but encounter is the best instructor so encounter it.

 

[chintu]

if you really want to practice with forex then try to create one of the demo account from one broker of your choice and make your self perfect with all the concepts of forex and that will really help you be in profits in trading . with out a good practice it is really very difficult to sustain with this business .

 

[Tirus]

It can be very different once you are on the wrong side of a trade when it is real money, admitting your wrong early on will save you thousands.

This is why practicing by trading in the demo account will help you to determine where you may going wrong and develop or even alter your trading strategy as necessary. This is what is going to help you to adjust when you are trading in the real account and make decisions resulting in profits.

 

[Cutiekc]

Practising with the demo account will only develop our strategy skills like wise increase our trading skills because the demo market acts the same way as that of the real account,coming to emotion discipline thw demo account has no power on that.

 

[PROPENSITY100]

Practice makes a man perfect and this hold good for Forex also. However it is better to trade with demo account while we are practicing because during this time chances of losing money are high. Fortunately all broker have demo accounts and many broker have demo contests also. We can take advantage of this demo contests to prove our efficacy in Forex.

We should never forget that demo trading is not similar to real money trading and though we can easily multiply the virtual funds in a day its not the same with real account.

 

[riddick09]

But practice makes perfect does not apply in Forex trading. You can perfect your trading as in you will always gain profits. However, practice will give us learning and how to trade correctly and properly in the market showing that we need our strategy to be confident and useful enough to gain some profits.

 

[Cutiekc]

But practice makes perfect does not apply in Forex trading. You can perfect your trading as in you will always gain profits. However, practice will give us learning and how to trade correctly and properly in the market showing that we need our strategy to be confident and useful enough to gain some profits.

I don't get when you say practice makes perfecxt does not apply in forex trading ,what and how can some one then become perfect,each trades we do daily is a practise be it the demo or the real account,we are learning as we do mistakes so practise makes a good trader.

 

[ryuken]

Most of the people who are into the forex trading doing the practice are also making some good decisions that leads to the profit but we have to also consider how that works for many of them. I mean sometimes people do waste money and time so using demo account is a good practice.

 

[Razor1911]

In my opinion, the practice is the most of important part that every trader should have incase they want to make improvements from the forex market in a faster way. The more a trader will practice the better will be the result from trading and thus the practice decides how much a trader will make from forex trading.