Are you using a Demo account to practice trading?

[$crypto$]

Using a demo account to learn is a good thing, but not everything can be learned on a demo account. For example, the mentality when trading. The mentality when we use a demo account and a real account will be very different, and as you said there is definitely anxiety when using a real account that we don't feel when using a demo account.

We can learn mentality from other things, and what I feel is from our experience and readiness to face risks.

Right, mentality trading couldn't be learn with demo account and controlling emotion difference when using real account between demo account.
I think easily control emotion and not greedy when trading with demo account but using real account how to control well emotion and take profit as soon possible without greedy. Use real fund and start deposit little fund firstly how to get mentality in trading, some trader can't control emotion although have practice it with demo account and I believe real fund will faster teach us to get more experience in trading.

Because the money we use is not real money, there is no burden for us when we experience losses, and also when we make a profit we cannot enjoy it. We don't have any pressure when using a demo account.

When using a real account, what we use is our money, so everything we do will determine whether we will lose or make a profit. And that's where the pressure will come to us, because there is a fear of losing money. Besides, who wants to lose money, right?

[Aanuoluwatofunmi]

I remember when i was a newbie to trading, i don't think i ever once used a demo account in making the practice on how to trade, what i could then remember was that it took me time to get to understand the whole process that involves on how to trade, not to talk of the hectic task as well in reading the chart and learning about those indicators from it, but the beauty there in is that once you know it, then you're free for live and can as well impact on others who are newbies.

[Fivestar4everMVP]

I completely agree with the op on all the importance of using a demo account as a trader, and it's also interesting to learn that even as a professional trader, it is still advisable to maintain a demo account through or where the trader can sometimes test new findings, new kind of analysis discovered new strategies and so on and on, personally, Ive never thought that a demo account can still be maintained and used for this purpose even after a trader has moved from the beginner level to an intermidiate to the professional level.

For me, I started trading forex before I discovered and came into crypto, I started trading forex by first practicing with the demo account for I think 6 months or there about, when I've built knowledge and became confident, I moved to live trading which involves trading with real money.
When I discovered crypto, I left forex and moved over to crypto, and with my knowledge of how to trade forex, learning how to trade crypto was a breeze, I had no need to practise with a demo account again, and never felt I needed it anymore, but with the idea op have shared here, I think I will open another demo account again.

[Gladitorcomeback]

Of course, someone that wants to learn trading should start with a demo account for practice so that he can have an idea of what trading is, instead of just jumping to using real account. However, when using a real account as someone new to trading, it is better to trade with a little amount to limit your loss.

Newbies who get into the industry need not start trading with real money immediately after joining, that's a wrong practice to follow. They need to gain knowledge first when they start or get some interest in trading because you can't do it efficiently without enough knowledge. Whether one uses a demo account or not, but they should at least gain enough knowledge before they start trading.

A person knows it when they are ready to do something, but still, it is better if they practice what they have learned just to confirm that they can do it effectively and also because practice makes a man perfect, so to make your skills better, you need to practice a lot.

[MrSpasybo]

I completely agree with the op on all the importance of using a demo account as a trader, and it's also interesting to learn that even as a professional trader, it is still advisable to maintain a demo account through or where the trader can sometimes test new findings, new kind of analysis discovered new strategies and so on and on, personally, Ive never thought that a demo account can still be maintained and used for this purpose even after a trader has moved from the beginner level to an intermidiate to the professional level.

For me, I started trading forex before I discovered and came into crypto, I started trading forex by first practicing with the demo account for I think 6 months or there about, when I've built knowledge and became confident, I moved to live trading which involves trading with real money.
When I discovered crypto, I left forex and moved over to crypto, and with my knowledge of how to trade forex, learning how to trade crypto was a breeze, I had no need to practise with a demo account again, and never felt I needed it anymore, but with the idea op have shared here, I think I will open another demo account again.

Many traders come to crypto from stocks/forex and have enough experience to start trading successfully. However, I myself find that crypto has many of its own characteristics that the classical technical methods or indicators that were once built for stocks and forex are not really effective, meaning that they need to be used in more appropriate ways: time frame, reliability, latency... I think Demo accounts are perfect for this purpose, and it is free. Many professional traders like to use PineScript's Strategy on TradingView to test new methods, but it does not help them train their psychology and focus in the market.

I myself am researching the application of new technical analysis methods based on machine learning, so I really need to use a Demo account to experience and complete it. At least, I also want to do something to improve my skills while DCA and hold crypto. If you also want to develop your own new method, try using a Demo account.

[Litzki1990]

Of course, some of us here have used some form of Demo account when we started our career in trading, at least for myself, way back around 2017-2018 I would say that this is the norm as there was a huge hype on trading that time. And there are a lot of advantage, like gaining confidence, and familiarize on how everything works and if you have a testing strategies then you can used it with the demo account and practice it. But the big difference is that there are no risk in demo and so when you get your hands dirty in real life trading, it will still be very different feeling with real money and results in that always on your favor.

Demo account can be used only for learning but if a trader starts trading using main account from the beginning he will develop enough risk appetite and learn about trading practically.  Trading in a demo account will not seem serious to us but whenever we trade with a real account it will be very serious to us and we will learn about it with interest when we take it seriously. Maybe there are many traders like me who are directly trading with main account. I have directly used the main account for trading that is why I find it more acceptable to trade and learn on the main account.

[IvugeoEvolutionCoin]

Demo account can be used only for learning but if a trader starts trading using main account from the beginning he will develop enough risk appetite and learn about trading practically.  Trading in a demo account will not seem serious to us but whenever we trade with a real account it will be very serious to us and we will learn about it with interest when we take it seriously. Maybe there are many traders like me who are directly trading with main account. I have directly used the main account for trading that is why I find it more acceptable to trade and learn on the main account.

With the demo accounts provided on several exchange platforms, this will provide quite good value for those who are beginner traders who don't know the right time to enter and buy coins and then sell them at a high price or use other trading methods. I really provide full support for those who want to learn to use a demo account so that when using personal capital, trading will be calmer because we have studied several methods that you can get from a demo account.

[Findingnemo]

I completely agree with the op on all the importance of using a demo account as a trader, and it's also interesting to learn that even as a professional trader, it is still advisable to maintain a demo account through or where the trader can sometimes test new findings, new kind of analysis discovered new strategies and so on and on, personally, Ive never thought that a demo account can still be maintained and used for this purpose even after a trader has moved from the beginner level to an intermidiate to the professional level.

For me, I started trading forex before I discovered and came into crypto, I started trading forex by first practicing with the demo account for I think 6 months or there about, when I've built knowledge and became confident, I moved to live trading which involves trading with real money.
When I discovered crypto, I left forex and moved over to crypto, and with my knowledge of how to trade forex, learning how to trade crypto was a breeze, I had no need to practise with a demo account again, and never felt I needed it anymore, but with the idea op have shared here, I think I will open another demo account again.

Many traders come to crypto from stocks/forex and have enough experience to start trading successfully. However, I myself find that crypto has many of its own characteristics that the classical technical methods or indicators that were once built for stocks and forex are not really effective, meaning that they need to be used in more appropriate ways: time frame, reliability, latency... I think Demo accounts are perfect for this purpose, and it is free. Many professional traders like to use PineScript's Strategy on TradingView to test new methods, but it does not help them train their psychology and focus in the market.

I myself am researching the application of new technical analysis methods based on machine learning, so I really need to use a Demo account to experience and complete it. At least, I also want to do something to improve my skills while DCA and hold crypto. If you also want to develop your own new method, try using a Demo account.

Demo account is quite useful to try and experience what we learned, try our trading plans and to find out whether we are actually making profits but it doesn't represent the complete actual trading.

Myself tried demo account, not sure on which platform and I just took wild shots mostly because no risk of losing money that makes big difference when we are trading with real money. So anyone who want to learn trading then demo account is not for you but to try what you know there's no better place.

[milewilda]

I completely agree with the op on all the importance of using a demo account as a trader, and it's also interesting to learn that even as a professional trader, it is still advisable to maintain a demo account through or where the trader can sometimes test new findings, new kind of analysis discovered new strategies and so on and on, personally, Ive never thought that a demo account can still be maintained and used for this purpose even after a trader has moved from the beginner level to an intermidiate to the professional level.

For me, I started trading forex before I discovered and came into crypto, I started trading forex by first practicing with the demo account for I think 6 months or there about, when I've built knowledge and became confident, I moved to live trading which involves trading with real money.
When I discovered crypto, I left forex and moved over to crypto, and with my knowledge of how to trade forex, learning how to trade crypto was a breeze, I had no need to practise with a demo account again, and never felt I needed it anymore, but with the idea op have shared here, I think I will open another demo account again.

Many traders come to crypto from stocks/forex and have enough experience to start trading successfully. However, I myself find that crypto has many of its own characteristics that the classical technical methods or indicators that were once built for stocks and forex are not really effective, meaning that they need to be used in more appropriate ways: time frame, reliability, latency... I think Demo accounts are perfect for this purpose, and it is free. Many professional traders like to use PineScript's Strategy on TradingView to test new methods, but it does not help them train their psychology and focus in the market.

I myself am researching the application of new technical analysis methods based on machine learning, so I really need to use a Demo account to experience and complete it. At least, I also want to do something to improve my skills while DCA and hold crypto. If you also want to develop your own new method, try using a Demo account.

Demo account is quite useful to try and experience what we learned, try our trading plans and to find out whether we are actually making profits but it doesn't represent the complete actual trading.

Myself tried demo account, not sure on which platform and I just took wild shots mostly because no risk of losing money that makes big difference when we are trading with real money. So anyone who want to learn trading then demo account is not for you but to try what you know there's no better place.

Totally useful specially when you are a complete newbie on which you could really be able to make yourself that to test up and familiarize everything but of course the rest of learning
could really be acquired through real trading experience. This is why when you do start up then it would be best that you should be starting up with demo but one thing that you should
bare up in mind that the only thing that you cant really be able to learn is with that emotion control on which this is something that you would really be needing up to consider on the time
that you would be making up some real time trades with using up with real funds.

[Findingnemo]

Totally useful specially when you are a complete newbie on which you could really be able to make yourself that to test up and familiarize everything but of course the rest of learning
could really be acquired through real trading experience. This is why when you do start up then it would be best that you should be starting up with demo but one thing that you should
bare up in mind that the only thing that you cant really be able to learn is with that emotion control on which this is something that you would really be needing up to consider on the time
that you would be making up some real time trades with using up with real funds.

I would recommend someone to start trading in real with the smallest amount possible to get the actual experience which will comes as whole package and can avoid differentiating the demo funds with the real money which will be more easier for a new trader to go through if they are completely new to the trading field but as said demo account can be more useful for advanced traders to try their strategies and to find is there any changes to be made in their plan, etc.

[MrSpasybo]

I would recommend someone to start trading in real with the smallest amount possible to get the actual experience which will comes as whole package and can avoid differentiating the demo funds with the real money which will be more easier for a new trader to go through if they are completely new to the trading field but as said demo account can be more useful for advanced traders to try their strategies and to find is there any changes to be made in their plan, etc.

We can all easily recognize this, but many traders want to experience the emotions of losing/profiting in the crypto market, expecting that the emotions from them will be stronger and have a greater impact on them in the market. I think it's also quite funny that they are willing to use their capital to buy experience while the Demo account provides it completely free of charge if they are really serious about each decision when using the Demo account.

[Gladitorcomeback]

We can all easily recognize this, but many traders want to experience the emotions of losing/profiting in the crypto market, expecting that the emotions from them will be stronger and have a greater impact on them in the market. I think it's also quite funny that they are willing to use their capital to buy experience while the Demo account provides it completely free of charge if they are really serious about each decision when using the Demo account.

I understand and agree that a demo account can be very useful in gaining experience and practicing the knowledge and strategies that you have prepared, but for some reason, I think it doesn't give the same feeling when you are trading with a demo account when you compare it with real trading, maybe it's because deep down we know that whether a trade we are making becomes successful or not, we have nothing to lose since it's free money.

Regardless, keeping the feel aside, one can obviously learn the ways using the demo account, they can learn how they can use indicators and other technical stuff when trading, and how they can read charts and base their trade accordingly.

[milewilda]

Totally useful specially when you are a complete newbie on which you could really be able to make yourself that to test up and familiarize everything but of course the rest of learning
could really be acquired through real trading experience. This is why when you do start up then it would be best that you should be starting up with demo but one thing that you should
bare up in mind that the only thing that you cant really be able to learn is with that emotion control on which this is something that you would really be needing up to consider on the time
that you would be making up some real time trades with using up with real funds.

I would recommend someone to start trading in real with the smallest amount possible to get the actual experience which will comes as whole package and can avoid differentiating the demo funds with the real money which will be more easier for a new trader to go through if they are completely new to the trading field but as said demo account can be more useful for advanced traders to try their strategies and to find is there any changes to be made in their plan, etc.

Well if  you do really ask me then i would really be tending to learn up trading on this method on which making use of small amount and would really be tending to learn up until you would be able to get it gradually on which it would really be the best approach i would say on where you could directly be able to learn up the things on which you wont really be able to learn up
when you do make out on demo trading specially on emotion on which we know that this is something that cant really be learnt up on this kind of trading.

[debra]

Because the money we use is not real money, there is no burden for us when we experience losses, and also when we make a profit we cannot enjoy it. We don't have any pressure when using a demo account.

When using a real account, what we use is our money, so everything we do will determine whether we will lose or make a profit. And that's where the pressure will come to us, because there is a fear of losing money. Besides, who wants to lose money, right?

It is true. When we use demo trading, we don't have any pressure because we just use fake money. If we fail, we don' lose anything. This won't force us to improve fast, it is just like a fun trading with no profit and no lose.

Indeed. When we use real account, it will have a risk of losing the money. So, we must trade very carefully and learn everything first before doing it. In this way, it forces us to increase our ability in trading because it is the only way to avoid losing and improve the chance of profits.

[MrSpasybo]

I understand and agree that a demo account can be very useful in gaining experience and practicing the knowledge and strategies that you have prepared, but for some reason, I think it doesn't give the same feeling when you are trading with a demo account when you compare it with real trading, maybe it's because deep down we know that whether a trade we are making becomes successful or not, we have nothing to lose since it's free money.

Regardless, keeping the feel aside, one can obviously learn the ways using the demo account, they can learn how they can use indicators and other technical stuff when trading, and how they can read charts and base their trade accordingly.

If they want to experience emotions, traders can allocate a real amount of capital and reward or punish themselves based on the trading results with a Demo account. I have also done this, and I understand that if it weren't for the Demo account, I would have lost a lot of money to learn how to use technical indicators wisely.

On the other hand, many traders want to consider trading as a boring job based on logic rather than emotions. Demo accounts are used so that they do not feel any pressure from the market, their decisions are based only on calculations and are not affected by profits or losses, they are often intra-day traders and have stable profits. I admire them very much and really want to learn to be less affected by market fluctuations.