Practice on Demo accounts & then go for REAL MONEY

MoneyTec Forums Beginners Forum Practice on Demo accounts & then go for REAL MONEY

This topic contains 22 replies, has 6 voices, and was last updated by  profitmaniak 12 months ago.

Viewing 15 posts - 1 through 15 (of 23 total)
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  • #523

    fire
    • 0

    hello friends !!

    if you are new to investing in stocks, new to trading then …what I would like to suggest is…

    do not fund your accounts with real money…..try trading those platforms where there is virtual money accounts,.i.e., paper money…or play money

    Trade the markets with paper money and then we will understand the way to trade. For sure we will loose…then we will be able to understand as to why we lost so and so trade, what are its causes and will be more careful for next trade.

    so thats how we have to learn practically. Books, no doubt, will help….but practical knowledge is more important than anything else…

    good luck traders

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    #524

    Nik
    Keymaster
    • 14

    Yes fire, I am completely agree with you. To be a good trader, we must have a practical knowledge on how market works. Demo account is the best option to learn the trading by applying different systems and strategies without being worried about the loss of real money.

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    #525

    Oneworldbroker
    • 0

    Demo and Real

    I think that demo is good only to get to know the platform, and a little bit get to know the market. Becaouse it is completly two diffrent things trading on demo and on real. On real start to be emotions – and this is hole new thing. The best option is first demo, after learn and practice with real but with very, very small money, like mini, micro lots. You dont loose to much during your learning, but it is money involve already, so you would have a diffrent approach than in demo – and this is very good.

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    #526

    Rich14304
    • 0

    OWB and Readers,

    The DEMO should be regarded as MORE than just something to get familiar with the platform as DEMO is more than just a Platform; it is a CONCEPT.

    DEMO is of course a platform but the principles are to place OBSERVATION and ANALYSIS into the methodology of approach. Not unlike a baseball player in a batting cage or a golfer at a driving range, it is the attempt to master the muscles (the body) to react consistently. In this case, the muscle is the MIND.

    Granted, LIVE is not the same for a variety of reasons, but the intent is to note if one keeps their MIND STRONG and reacts within the boundaries set and practiced on through DEMO, the probabilities of remaining in the market will increase.

    Rich

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    #527

    norhisham
    • 0

    There is a need to remain the same perspective while trading by demo and live account. Sometime fear and greed factors is amplified when you are using live account.

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    #528

    Nik
    Keymaster
    • 14

    Yes you are right. When people trade demo, they feel secure and get good results. But when they start to trade in live account, they become fearful and their strategy doesn’t work like it used to be in the demo account.
    Discipline is the thing that could help traders to overcome from this situation. First of all They must have confidence in their strategies or systems. Confidence can be build up by practicing strategies/systems in demo account for at least six months. Once they start trading in the live accounts, they must follow their strategies with discipline.

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    #529

    fire
    • 0

    yes when we start with real…we are biased to the fear factor and our thinking level goes down…
    this shouldnt happen when we are trading real. I was facing the same when I started trading real….and my co-traders at my platform where I trade have guided me very well ….Im thankful for their support…

    thanks for the fellows at gnutrade who helped me out..

    just dont fear when u are going real…

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    #530

    Rich14304
    • 0

    Readers,

    Unless one was hit in the head with a brick between the time of DEMO and LIVE, it should be understood PRIOR to LIVE, in order to gain the appreciation and the RESPECT due to the ACT, the function does not reside with FRIENDS as trading institutions or advicements from marketers that have SALES agenda, it is the knowledge GAINED based on DEMO in order to TEST a LIVE-MARKET.

    One would proceed with caution and a SMALL, even a VERY-SMALL position, possibly 1/10th of a considered (practiced) size and EASE into a a full position as acquired knowledge as gained of the attributes of LIVE-MARKET presents.

    The KEY, if there is such a thing, is noting conditions of DEMO and LIVE are NOT the same and while DEMO promotes development of MIND it is TESTED in LIVE.

    DO NOT FALL VICTIM TO THE UNFOUNDED BELIEF THE DEMO IS THE SAME AS LIVE AND DO NOT BELIEVE ANYTHING ANYBODY TELLS YOU UNLESS YOU CAN PROVE IT ON A DEMO FIRST, INCLUDING MINE.

    Rich

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    #531

    John Trader
    • 0

    Demo doesn’t work at all. Just take a look at the many robot demo testing sites on the net and the Real Money Accounts Test at Forex Robots – The Best Forex Robots in Live Trading Competition, you can easily see that almost all the robots that are winning a lot in demo, are losing all the account on Real Money.

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    #532

    Forexikon
    • 0

    Practice makes perfect ! Good luck. It’s a good way to take a part in demo contest to learn trading. for example: *******which is about forex trading.

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    #533

    Rich14304
    • 0

    Posters; please take under consideration the BEGINNERS FORUM is OFF-LIMITS to any FORM of commercial marketing; you have been granted some liberties; but the ACT; the posting of hyper-links in the body of posts is a direct violation of this site policy which normally come with administrative infraction or BAN;

    Let us keep the topic ABOVE board; assist the readers for the comparative and leave the marketing OUT of the topic, and if one feels the NEED to post marketing; it would be most wise to place consideration to the ACT and post in the appropriate forum OUTSIDE of the BEGINNERS FORUM

    Thank you for the consideration
    ~Rich

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    #534

    peteralicia
    • 0

    I am new to the forex trading. I am eager to practice the demos. Is moneytec is having demo software?

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    #535

    Nik
    Keymaster
    • 14

    Hello peteralicia,

    No, we don’t provide demo software. Almost every broker provides demo account. So google it and you will find one for yourself.

    Thanks,
    Nick

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    #536

    Rich14304
    • 0

    Members/Readers;

    If I may make a suggestion; supporting moderator Nick statement: if one would use, AS EXAMPLE: GOOGLE SEARCH ENGINE; and use keywords such as; FREE PRACTICE FOREX DEMO

    One will get a listing of many Brokers that OFFER the FREE DEMO;

    Now, one may also place consideration to INVESTIGATING the BROKER PRIOR to opening a LIVE-ACCOUNT

    Thank you for your attention

    ~Rich

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    #537

    peteralicia
    • 0

    Thanks guys. I will do research (google It).

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