Demo account with real account experience

Discussion in 'Forex' started by Kagisopeter, Nov 11, 2020.

  1. It's so important to keep that in mind and not be under the false impression that demo profits are real. It's a fact that everyone knows but every new trader ignores and starts thinking of being an expert trader in no time with huge profits.
     
    #61     Dec 8, 2020
  2. rider20

    rider20

    I agree. No point skipping demo trading at all as per me.
     
    #62     Dec 8, 2020
  3. Thanag

    Thanag

    The right decision is to use a demo account, because it is a practice and an opportunity to learn how your strategy works.
     
    #63     Dec 8, 2020
    Nobert likes this.
  4. tedmos38

    tedmos38

    Well said, totally agreed with you.
     
    #64     Dec 8, 2020
  5. kroxobor

    kroxobor

    Right, for example I found an edge on Fixed spread account (from Hotforex) trading USDRUB. Due to specific transactions costs on exotic pairs, stable spreads reduce transaction costs in average helping too boost profits. Just an example.
     
    #65     Dec 10, 2020
  6. I suppose same rules can't apply across all securities, markets and pairs. A broker will always work as per trader's strategy.
     
    #66     Dec 11, 2020
  7. kroxobor

    kroxobor

    Yeah I meant it's all about finding your edge which is mostly a trials and errors process.
     
    #67     Dec 14, 2020
    Nobert likes this.
  8. Yes I think there's no better way to test a strategy.
     
    #68     Dec 17, 2020
  9. I think having a well defined trading plan is critical. Your entry and exit values, also your stop loss should all be predetermined. Even the indicators that you would use everytime should be a part of this plan. Rather than using too many, just master the use of 2 technical indicators and use them regularly.
     
    #69     Dec 18, 2020
  10. Oghmaron

    Oghmaron

    Learning balance is equally useful for both novice and experienced traders. Many successful traders use it to test different trading strategies or adapt when switching from one trading platform to another.
     
    #70     Jan 9, 2021