Demo account is mostly used to practice, test your strategy, familiarize yourself with a new platform. However, with demo trading, the psychological aspects of trading don’t come into play, like fear and greed.
Completely agree with you buddy, demo account is usually used for practice and live account is used to do real trading.
As a begginer demo trading is unquestionably important aspect for learning and understanding the market. Once the beginner is able to get a hold on his trading strategy and has befriend the market he can trade on a live trading platform to make the real money.
Demo accounts must be the first step towards practically trading the market. Understanding ins and outs of the trading platform and the market is very important before trading on the live account.
Both demo and live account are important but with different purpose to serve. Demo account is solely for educational purposes whereas live account trading is for making the real money. Without trading demo it is very difficult to get the hold of live account and make profits.
I don’t think there is anything disputable about live and demo account. To understand and learn trading demo is mandatory and to earn real profits live trading is mandatory. None of them can be underestimated.
Totally Agreed! Traders should never trade on the live account untill he has started making consistent profits on the demo for atleast two months as without proper practise and knowledge traders won’t be able to survive the market.
to survive successfully in this area need a strong money management , otherwise any kind of approach can be useless.
money management is really important but honestly speaking this is really challenging to build a strong money management.
but the main problem is , most of the traders dont believe the importance of this trading place at all.