Demo account or Micro ?

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

  1. In a demo account, you not only learn to trade but also, you can test your strategies. Firstly, formulate a strategy, test it on a demo account, practice for some time and then you can switch to a micro account.
     
    #31     Feb 19, 2021
  2. I still think that the best option for starting practice is to use a demo account.
     
    #32     Feb 19, 2021
  3. I vote for micro. Having some real money on the line will "concentrate the mind wonderfully," but the amount risked with one micro lot will not ruin the new trader.
     
    #33     Feb 20, 2021
  4. With a micro lot, the new trader can risk the high leverage. Indeed, watching the wild swings in both directions that can come with high leverage will be a good education in managing risk. With a larger position, it could, of course, be disastrous, but a micro lot risks very little money per pip.
     
    #34     Feb 20, 2021
  5. I view this as a disadvantage. They need to learn to manage the fear. Put some skin on the line.
     
    #35     Feb 20, 2021
  6. both are important , its depends on you which one o you like , i mostly prefer micro for ensuring live knowledge and experience.
     
    #36     Feb 20, 2021
  7. Asher.Fr

    Asher.Fr

    Looking for broker recommendations with tight spreads, I'll mainly be doing Intraday (Scalp).

    Since I live in Australia, an ASIC regulation broker would be preferable and ideally an ECN/A-book broker.
     
    #37     Feb 20, 2021
  8. right now i am using micro account where i using my recent trading strategies, sometimes i do losses but this is not much, took so many live trading experiences.
     
    #38     Feb 21, 2021
  9. tedmos38

    tedmos38

    true that
     
    #39     Feb 22, 2021
  10. My personal view on demo accounts are, use it just to understand how to place orders, close, partials and all the basic task
    Once you understand how it works
    maybe move to an account with small capital, can be as small as 100$
    Demo accounts don't give you an understanding of emotions and losses as much as real money does and trading is made up of 80% emotions, which you don't catch up on a demo account.
     
    #40     Oct 12, 2021