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Cryptocurrency Trading / Re: Are you using a Demo account to practice trading?
« on: May 10, 2024, 07:20:35 PM »Demo trading is for some sort of self learning and familiarization but the real learnings could really be acquired through real balance trading on which you are using up that real money on which it would really be just that normal that you would really be making out those serious approach when making use of the funds on which you do know that it is really that real. There are really things on which you cant really be able to learn when you do make use of demo trades but of course it does have that kind of purpose on which it isnt something that bad at all in the first place.Of course, demo account is used for learning the basic things about trading. It is very necessary for newbies or beginners, it will give the description about how people trade commonly. However, to get real experience, surely we need to deposit funds and begin to use real accounts. But make sure we already knows all the basic things firstly through the demo trading. Even I didn't use it but I know it is very needed once we are in the beginning phase of trading.
A new trader should never make the mistake of getting into real trading only to gain more exposure or experience because knowledge comes before experience, and one needs to gain knowledge first before one goes towards gaining experience. This is why every trader needs to learn everything first, do a lot of practice to see if they have understood whatever they have learned, and when they feel they are ready, that is when they should jump into the market.
Newbies often make the mistake of starting real trading with their money immediately after joining the market without any knowledge or anything and then when they lose money, they start blaming the market instead of taking the blame for not trying to learn something before getting into it.
Just like been said that there are things which you cant really be able to learn up on demo trading but rather it would be on live one.