the moment you start trading with real money, your mind will change a lot as you are more hesitant to take bigger risks since you aren't trading with fake money anymore. There is also trading anxiety that can happen as well. Therefore, i do recommend for a micro/cent account with small amount of money like $100 is more useful for your learning once you already have the basics down.
Demo account is like a practice field for traders. Can you swing fours and sixes without stepping into a cricket field? No! It’s the same with trading. You have to acquire skills before moving to a live trading account, micro or not.
Beginners can start their trading journey using a demo account. Once they get to know how to trade and develop trading strategies. they can start with the micro account so even if even he suffers losses he would be able to bear it.
the demo account is the first account people should open because it let them practice risk-free. A new trader that doesn't know much about basics is bound to run into losses so trading with fake money means they don't have to stress too much about it.
I agree. Also i feel that you can first trade in demo account and once you get the confidence, you can open an account with a small amount to test the waters.
Such a cool idea, actually I think there nothing like alternative as like demo practice! Demo trading accounts are free, that’s why most of the new traders take this free opportunity as lightly! But, which traders use the demo so seriously in their initial stage of trading, they all are now enjoying their live trading!
right now i am trading in demo where using all my trading strategies to see the performance how it works.
New traders should start with demo trading because it is a safer and more convenient way to learn how to trade in the market.
Why to use a demo account? To create workable trading strategies To become familiar with the trading platform and trading conditions offered by the broker. Trading on demo accounts is fine as long as you want to practise and develop skills. But trading is all about risk and mindset. And demo accounts don’t help in any way to develop that. Stick with them to fulfil the above purpose. Once you spend plenty of time demo trading, at least 6 months, start trading with a micro account.