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  1. #1
    Senior Member raymond09's Avatar

    What is your perception to trade demo for gaining money !!!

    It will not be wise to go for trading blindfolded at first instance without learning how to trade. To make win situations at most of the time, it is advised to traders to create dummy account on trading platform to learn how market reacts and which strategy will be best in a what condition . After gaining experience in binary trading, a trader can directly enter a live financial market. What do you think about it?

  2. #2
    Junior Member
    Those I teach learn first to observe the market, detect resistance and support areas, find out what a three EMA system tells them. After that I teach them money management, and only when that is learned, I encourage them to find a demo account to test their skills. This way, they know what they do when they start a live account.

  3. #3
    Rookie Member
    Trading with demo account is beneficial to invest money without any risk.

  4. #4
    Legendry Member willyw's Avatar
    Quote Originally Posted by avamorcle View Post
    Trading with demo account is beneficial to invest money without any risk.
    Yes demo account is beneficial to newbies to enable them learn how to trade, how to place orders to the broker. Demo account also let the newbies test different different trading strategies. but demo account will not benefit them to invest without risk. Forex trading involves risk even after trying out demo accounts traders invest with risk and not without risk.

  5. #5
    Veteran Member's Avatar
    near me, demo trading is JUST to UNDERSTAND the platform, the trading, the entry exit of trades, and a few basic things... it NEVER EVER teaches you how to trade smart and profitably because ur EMOTIONS are not involved... fear and greed is not there.... flukes work in demo, hence they make u over confident....

  6. #6
    Solid Member
    As per my view demo is the best of the best tool for gaining money. On the other hand, demo trading is of great importance in the sense that it reduces your levels of risk. It opens up the opportunity for you to come up with a solid binary options trading system without pouring in substantial amounts of real money. People don’t want to risk their real money to learn the pitfalls of trading online. Practice money gives many people to best chance of surviving in this marketplace. If you can succeed on a demo account, you should be able to bring what you learned to the table when trading with real cash.

  7. #7
    Specialist Member runneroption's Avatar
    In general you are right crimson69, if you could trade consistently profitable on demo you could easily translate that in real account. The problem come with the greed you have and it will lead you to take bigger and bigger bets, until you were hurt by some big drawdown. That’s why it is not so easy to make real trading profitable. If you follow strictly your rules trading live you will have no problems to move from demo.

  8. #8
    Rookie Member
    We as a whole need to Perform hone on demo account before hopping on genuine and live trading where we have to deposit our own assets. Presently a days, practically every broker offers free demo Account for all. Nonetheless, my conviction is that the Demo trading condition must mirror the Live trading condition as nearly as could be allowed. that is the reason I trade with the JM Financial broker. I routinely make utilization of this demo to test my procedures previously applying that on live account.

  9. #9
    Legendry Member willyw's Avatar
    When you start live trading; you will be emotional. Dont let your emotions control you and follow strictly to your trading plan and setup
    Willy Twitter: Hidden Content

  10. #10
    Veteran Member Ingmar's Avatar
    It's all in the mind. When i started i traded demo first. because of the nature of the demo account i did trades i would never do on live account (i learned later). Then i went live pretty fast and all of a sudden the fear of losing money was present and the whole wide range of emotions attached to trading with real money.

    However... when i had lost quite some money and i went 'back to the drawing board' i set different goals for myself. I said i would only trade live again if i could produce certain results on the demo account. And i would only trade live if i reached a certain amount on the demo account.

    All of a sudden psychology was back. I didn't want to be wrong, even on demo, because i wanted to make money again on the live account rather sooner then later. Whenever i lost demo money i was further away from trading live again.

    At a certain moment a loss actually felt like a real loss on the demo account and a win felt like a real win. It's what the mind makes of it that determines your attachment to the outcome. So when done well, a demo can actually come pretty darn close to the real thing. If you allow it to be.
    “The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, or for the get-rich-quick adventurer. They will die poor.”

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