Demo account or Micro ?

Discussion in 'Forex' started by Ahmed Solaiman, Jan 7, 2021.

  1. Leob

    Leob

    Demo account until tie your shoes and trading
    are same for you regarding complexity.
    Demo account until you became moneky of your system.
    No system no live trading.
     
    #181     Apr 11, 2022
  2. I agree. When I started my way in crypto - all my courses were done at a demo account.
     
    #182     Apr 11, 2022
  3. Peace11

    Peace11

    Demo before micro, in fact after a while you can do both at same time.
     
    #183     Apr 11, 2022
  4. The demo account can be used by beginners or newbies that do not have any experience in forex trading, and the demo account can be a useful tool to learn forex..

    The micro account can be used for beginner traders looking for live trading experience because in the micro account the risk and value involved in it are lower.
     
    #184     Apr 12, 2022
  5. as a beginner i love doing demo and besides this i trade micro to make sure a live trading experience.
     
    #185     Apr 12, 2022
  6. pixel

    pixel

    When I started, I used demo first because I wasn't so sure of depositing some funds to start live trading, with in the fear of knowing that I might make the losses.
     
    #186     Apr 13, 2022
  7. Peace11

    Peace11

    There should be a process, you can't skip one step and expect to get same result as when you follow due process. Demo is vital and should be taken seriously, you can learn there for while, master a plan that can work for you and start with a micro account. Though it might not be totally the same, but you get that closure from it.
     
    #187     Apr 13, 2022
  8. kroxobor

    kroxobor

    The rule of thumb is to spend 1-2 weeks on demo to avoid dumb mistakes (related to correct platform usage) and then move to live account with small deposit. You have to gradually get accustomed to your emotional response to loss or gain because for an unexperienced person his reaction to loss or profit often becomes a trigger for mistakes in trading
     
    #188     Apr 14, 2022
  9. Demo is the basis of acquiring practical knowledge about forex. Just like how you test the water before diving in, you need to practise on a demo account to understand the mechanism of the trading platform and know the nature of the market.
     
    #189     Apr 14, 2022
  10. The trading psychology differs while trading on a demo account and a live account as the money used in a live account is real. One can prefer starting with a micro account after s/he is confident of trading live.
     
    #190     Apr 14, 2022