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Cryptocurrency Trading / Re: Are you using a Demo account to practice trading?
« on: May 08, 2024, 11:49:11 PM »So when was the last time you have practiced trading with demo account? When was the last time you have tested something? What was the result?I use the Demo account daily to experience and gain experience trading according to the LPPLS method that I am integrating into TradingView. The last trade was made on April 11 when the BTC mini-bubble burst, sending the entire market into a significant correction phase. I am waiting for the formation of a bullrun to have enough data to predict a larger bubble in this cycle. Ended the buy order for BTC at $20K and sold at $70K, for a profit of +250%.
I always see people saying that demo accounts are very useful, they allow to learn, but they never name anything particular. If we compare trading with driving, then before driving a car, we dont pass driving tests, nor do driving simulations, or run few miles on empty road to test how car goes forward, even though we have done it lots of times before.
In addition, I am also researching many other methods such as Bob Volman's method or Sonic-R. As I have presented, I do not like to use Strategy for backtesting because it does not create a decision-making experience in trading, the Demo account makes me more comfortable making decisions and making more mistakes to accumulate experience in the process. following the market.