Demo accounts can offer some benefits to new traders as they allow traders to become familiar with trading software and understand how the market works. Therefore, traders must be aware that execution, funding and sentiment may vary when trading real money (vs. fake money).
right now i am trading with demo , using some trading strategies to see the performance how it works. this is really good approach
This is a good start. I’d also suggest not directly jumping onto a standard account, instead first trade using a small deposit account. This will also help you in regulating your emotions.
I currently trade with a demo account and wanted to know if the demo account is as similar as the real accounts?
but the main problem is when we try to act in a real account as like demo the situation never response as before. this is the main problem we have with trading in live and demo.
There is! With demo accounts, you trade with fake money, while you trade with your actual money in live accounts. Moreover, there is also a difference in trading experience. Demo accounts are more like a casual way of trading where risk management and trading psychology are ignored by trades. However, that is not true with live accounts where you need both to win trades successfully.
Exactly. But also, sometimes when the market is very volatile in nature, you can actually experience the sense of fear when placing an order in real account over demo.
To make the most out of your demo trading experience, traders should use demo accounts as real accounts. This can only be done when they follow a strict trading plan. It’s easy to ignore your losses on demo accounts but when you lose the same amount on live accounts, it can turn your world upside down. Therefore, it’s very important that you trade as if your real money is on stake.
demo is really good for all kinds of trader even for expert. but i have seen most of the traders dont believe the importance of this trading place at all.