Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?
I am a crypto holder, I am loyal to DCA and hold crypto for 1-2 years, however I am still interested in regular trading, especially learning technical analysis methods to predict market fluctuations.. Normally, I code strategies on TradingView to backtest, but gradually I feel that backtesting is very boring and does not create much emotion in the market, so I look for Demo Accounts on TradingView. I tried Binance's Mock Trading but didn't really like it because it required me to use my phone regularly to buy/sell. I often use a computer to work with TradingView so Paper Trade feature is the most suitable choice for me.using a demo account is very good for us so that it increases our knowledge in analyzing trading in the market and also increases our insight into how to trade well, I also use a demo account to increase my insight in trading because I know that by learning to use this demo account, we can increase knowledge in trading... this is even more suitable for beginners in crypto trading so they know how to buy/sell at the right time and they also don't need to spend capital for it...
Demo Account has both advantages (No risk, Self-analysis, No stress, Practice, Confidence, Statistics) and disadvantages (Slippage, Commissions, Psychology, Adjustment)[1]. Experiences with Demo Account help me learn a lot of things such as managing trading time, choosing the right time frame, and most importantly, managing psychology. Demo Account also gives me more motivation to monitor market fluctuations every week, helping me understand the psychology of other investors in the market and communicate with them more effectively.
After all, Demo Account helps me to be better prepared in both knowledge and psychology in the process of holding crypto and waiting for the distribution zone in 2025. Many professional traders I know also maintain Demo Account to continuously practice with many markets. I think every trader should use a Demo Account to practice their skills and psychology before officially entering the market with real money.
Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?
[1] 6 advantages and 4 disadvantages of a demo account (https://atas.net/atas-possibilities/demo-account/)
Using demo account to practice trading is like believing of being a best businessmen and trader after playing monopoly against family members. I think users can use demo account only to get familiar with the platform and test what each button do and look for a result. It is enough to play with it for 10-15 minutes to test every feature trading platform offer to get familiar with everything. Demo account forgive trading fails. They make fails meaningless, while they suppose to be one of valuable experiences trader could get.Or in other words, get to know more about the features that are in it, how to use it and what are its uses.
Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?First and foremost, I opened a trial account in forex using MT4, and I had no idea what to do. Then I attended trading seminars to get basic information, which helped to reduce my trading ignorance. However, I discovered that most forex websites are prone to scams since you must put money onto their platform. I was hesitant to use the platform, but I did, and we found out a few days later that one of the members that attended seminars had been scammed. That's why I chose to leave. And this is why I joined crypto; here, I'm only doing paper trades on Tradingview. And it really improves my trade execution and confidence. I feel that having a demo account is essential for beginners.
[1] 6 advantages and 4 disadvantages of a demo account (https://atas.net/atas-possibilities/demo-account/)
I think every trader should use a Demo Account to practice their skills and psychology before officially entering the market with real money.Not sure about the psychology part, but I can see people use demo accounts to test their trading indicators, especially if you don't need money to create a new one. I think using it that way is fine, you need to backtest to ensure you get reliable indicators so that you can exit or enter a trade based on what you need, especially if there's a new tool you're not familiar with. I remember registering a demo account and using it to learn about the Bollinger band and other indicators that are simple enough for me to understand. But as always, real-life trading will be different since there's an emotional factor involved. You can't really practice that on demo trading. CMII
I agree with you, that when using a demo account, our emotions will not work, because there is nothing at stake when using a demo account, whether profit or loss it does not affect at all.I think every trader should use a Demo Account to practice their skills and psychology before officially entering the market with real money.Not sure about the psychology part, but I can see people use demo accounts to test their trading indicators, especially if you don't need money to create a new one. I think using it that way is fine, you need to backtest to ensure you get reliable indicators so that you can exit or enter a trade based on what you need, especially if there's a new tool you're not familiar with. I remember registering a demo account and using it to learn about the Bollinger band and other indicators that are simple enough for me to understand. But as always, real-life trading will be different since there's an emotional factor involved. You can't really practice that on demo trading. CMII
I agree with you, that when using a demo account, our emotions will not work, because there is nothing at stake when using a demo account, whether profit or loss it does not affect at all.Some traders that are newbies may get it wrong. Or let me say that some traders will not know that the sole purpose of using a demo account is to learn, to learn about how trading is. It is not about trying to use it to trade and see if you can take $100 demo money to $10000. Some traders use it this way and which is not good. Just use demo to learn. After you learn about trading, stop using it.
Unlike the case when we use a real account to trade, emotions will really work there. Fear, panic and hesitation will be things that we will feel when using a real account. Because we risk our money in it, when we predict wrong, our money will be lost.
Things like what I said above will not exist when using a demo account.
I used the Demo Account at the beginning of the learning journey, but over time the psychological factor becomes important in the market, and sometimes a small loss is much better than trying to avoid a loss, as it teaches you to think better, while in the Demo Account, the zero loss makes your application of the strategy give less good results compared to what You will get it when you trade.Just like you said, Demo account is a good environment to learn and practice technical analysis, it provides safety but if the Trader is not serious enough, he will not be emotionally trained and disciplined in trading. I think when using a Demo account, Traders should also have clear goals and rewards and punishments for themselves.
Demo Account is good for beginners and for those who trade from time to time, but for those who want to trade on a daily or weekly basis, it is better to try it directly in your account, even if you achieve losses.
I used the Demo Account at the beginning of the learning journey, but over time the psychological factor becomes important in the market, and sometimes a small loss is much better than trying to avoid a loss, as it teaches you to think better, while in the Demo Account, the zero loss makes your application of the strategy give less good results compared to what You will get it when you trade.Just like you said, Demo account is a good environment to learn and practice technical analysis, it provides safety but if the Trader is not serious enough, he will not be emotionally trained and disciplined in trading. I think when using a Demo account, Traders should also have clear goals and rewards and punishments for themselves.
Demo Account is good for beginners and for those who trade from time to time, but for those who want to trade on a daily or weekly basis, it is better to try it directly in your account, even if you achieve losses.
For example, the goal is to grow assets steadily over 3 months. The reward is a trip, the punishment is a 10km run ^^
I think the more thoroughly prepared traders are in terms of knowledge and emotions with a Demo account, the less losses they will have in real trading.
Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?When I was new to the crypto market, I also tried using a demo account to trade using learned methods such as RSI, MACD, Ichimoku. Thanks to the demo account, I realized that those methods are not really as effective as many people introduce on Youtube. A deep understanding is required to properly apply each indicator and combine multiple indicators together to achieve predictions with a high accuracy rate.
Yes, it is for learning purposes and nothing more, we can use a demo account to learn more. For beginners they can learn basic things like for example, how to start entry, stop loss, take profit and so on, it will be very useful when later they trade on a real account.I agree with you, that when using a demo account, our emotions will not work, because there is nothing at stake when using a demo account, whether profit or loss it does not affect at all.Some traders that are newbies may get it wrong. Or let me say that some traders will not know that the sole purpose of using a demo account is to learn, to learn about how trading is. It is not about trying to use it to trade and see if you can take $100 demo money to $10000. Some traders use it this way and which is not good. Just use demo to learn. After you learn about trading, stop using it.
Unlike the case when we use a real account to trade, emotions will really work there. Fear, panic and hesitation will be things that we will feel when using a real account. Because we risk our money in it, when we predict wrong, our money will be lost.
Things like what I said above will not exist when using a demo account.
Yes, it is for learning purposes and nothing more, we can use a demo account to learn more. For beginners they can learn basic things like for example, how to start entry, stop loss, take profit and so on, it will be very useful when later they trade on a real account.That is just it and I can not agree more. But do you also know that demo account is kind of unnecessary for traders that are newbies? If you have little amount of money, like $2.5, you can use it to study what you want to study instead of using demo for future trading. Most exchanges can let you open a trade of 10x with $0.25. But you may not want to use up to that leverage, $2.5 is enough for 1x on most derivative exchanges. For spot trading, $15 is enough. If coins like bitcoin is traded, the trader can not lose all the money at once, not possible. And the trading fee is very small for that kind of small amount of money.
There are also many indicators that can be used to make it easier for us to analyze, we can learn on a demo account. Do not let when we use the real account we do not know what we will do, it will feel very silly.
Many things can be learned on a demo account, at least to make us better understand how to trade.
~No.
Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?
Yes I understand that, maybe beginners won't need a demo account to start trading, they may have a mentor, or even they have enough money for them to learn, but it is indeed a bigger risk especially if they don't have a mentor.Yes, it is for learning purposes and nothing more, we can use a demo account to learn more. For beginners they can learn basic things like for example, how to start entry, stop loss, take profit and so on, it will be very useful when later they trade on a real account.That is just it and I can not agree more. But do you also know that demo account is kind of unnecessary for traders that are newbies? If you have little amount of money, like $2.5, you can use it to study what you want to study instead of using demo for future trading. Most exchanges can let you open a trade of 10x with $0.25. But you may not want to use up to that leverage, $2.5 is enough for 1x on most derivative exchanges. For spot trading, $15 is enough. If coins like bitcoin is traded, the trader can not lose all the money at once, not possible. And the trading fee is very small for that kind of small amount of money.
There are also many indicators that can be used to make it easier for us to analyze, we can learn on a demo account. Do not let when we use the real account we do not know what we will do, it will feel very silly.
Many things can be learned on a demo account, at least to make us better understand how to trade.
Well, yes, i have been even practicing on demo account lately on my favorite centralized exchange which happens to be Digifinex. Among the many exchange in existence, I prefer the above mentioned exchange for my features trading and also because it has a demo feature. Even while I was learning how to start forex trading, I start with the demo account which made me to learn how to assemble the indicator, how to read and understand charts and the indicators movements. Although I can not speak for everyone but I know that many newbies to trading actually learn from demo, else they will just end up to loses their capital.That's right, I also use a demo account to hone my skills in trading, not only that, I learned how to understand market charts... but I'm still not smart enough to develop a trading strategy and I know that in crypto trading we have to have a daily profit target and have to be smart. manage our assets so that we can profit many times over..
A demo account is not only for beginners. In the future, when you become an experienced trader, you can also use a demo account. Because this is a great opportunity to test your trading system and strategy on real data in real time before applying it with real money.Well, yes, i have been even practicing on demo account lately on my favorite centralized exchange which happens to be Digifinex. Among the many exchange in existence, I prefer the above mentioned exchange for my features trading and also because it has a demo feature. Even while I was learning how to start forex trading, I start with the demo account which made me to learn how to assemble the indicator, how to read and understand charts and the indicators movements. Although I can not speak for everyone but I know that many newbies to trading actually learn from demo, else they will just end up to loses their capital.That's right, I also use a demo account to hone my skills in trading, not only that, I learned how to understand market charts... but I'm still not smart enough to develop a trading strategy and I know that in crypto trading we have to have a daily profit target and have to be smart. manage our assets so that we can profit many times over..
From studying the demo account I gained a lot of knowledge and was able to trade better than before.
Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?To be honest, I don't do trading often as I am also more like consider myself a holder, but till now I did not give any importance to a demo account, I think what good it can bring to us because, in a demo account, we are not in the field instead we are in the emulator, the big factor that disrupts the trading is emotional sentiments, and we don't see these emotions in demo trading.
[1] 6 advantages and 4 disadvantages of a demo account (https://atas.net/atas-possibilities/demo-account/)
A demo account is not only for beginners. In the future, when you become an experienced trader, you can also use a demo account. Because this is a great opportunity to test your trading system and strategy on real data in real time before applying it with real money.Well, you are right, it's not always the case that professionals don't want to try it because I'm sure professional traders will still try something new and as you said to test the strategies used by professional traders whether they are still effective or not, but if you don't have much time to monitor exchange conditions then implementing long-term trading is a safe choice.
Have you been using Demo Account?I have been using the demo account, it is quite helpful to understand the basic things. I only used the demo account for few days, I stopped it because it was no longer to bring significant impacts. If we want to have real experiences, we must trade in the market. We won't have enough experience if we only use demo account. However, we are better to choose spot market because it is the safe market to use. Avoid using future market!
yes. And I think everyone should try a demo account first when considering trading cryptos. You could apply your strategies, test your theory, and most importantly, you won't lose your money in the first place. btw, any recommending platform for demo trading?
yes. And I think everyone should try a demo account first when considering trading cryptos. You could apply your strategies, test your theory, and most importantly, you won't lose your money in the first place. btw, any recommending platform for demo trading?
Demo trading is a baby step in crypto, it helps you and guide you in realizing what you have been reading and cramming and how to experiment with it in the real world of trading, this is how trading is master without losing your money, what you are going to lose is virtual money, they money are not real but even at that, it helps you understand trading better especially if you are the emotional type of trader.
You can use Binance platform, but the trqding pairs they have is limited and can only be access through the web. Okx is having a demo place but can be enjoyed through the app and lastly you can use tradingview, it's one of the best existing place for demo trading.
The use of demo account is just for a child's play, newbies and beginners are the ones expected to engage in the practice of this, they can as well make use of the faucets, testnets and others learning avenues that will help them know how to transact the real coins and make payments, spend and receive as well as other important procedures required of them to know prior to the time they will be into trading in full.
The use of demo account is just for a child's play, newbies and beginners are the ones expected to engage in the practice of this, they can as well make use of the faucets, testnets and others learning avenues that will help them know how to transact the real coins and make payments, spend and receive as well as other important procedures required of them to know prior to the time they will be into trading in full.Hmm, I'm using the Demo, it seems pretty good even though it doesn't make any real profit. Directly monitoring the market and then entering and exiting orders made me more stressed than I imagined, to the point that I had to increase the time frame to a daily frame so as not to be distracted by intraday price fluctuations.
What you are calling child's play is a very important thing for someone who is just getting into trading. A lot of people make the mistake of not gaining enough knowledge before getting into the market and they tend to waste a lot of money because they don't have much knowledge, and if the same people use demo accounts to practice their trading practices before getting into the market, they wouldn't need to face losses.I agree. CEXs creates the Demo account feature that proves the existence of real user needs, while also providing a training platform that makes traders more confident, entering the market with larger capital, buying and selling more... Finally, it creates profit in the form of transaction fees for CEXs. I think every feature is valuable for the crypto market, as long as it is used appropriately to improve people's capacity and capital.
Trading isn't as easy as some people might think it is, it requires a lot of knowledge from a person getting involved and if one neglects this thing, they need to suffer sooner or later. So it's important for every trader to go through the process of learning to become an efficient trader.
When I was new to trading I never used a demo account and now that I have a rough understanding of trading I still never use a demo account. With main account I get all kinds of benefits and with main account I try with main account I apply so why I feel the need for demo account. I also don't know how the demo account works because I'm used to using the main account. If I had problems using the main account, I might have used the demo account, but since I didn't have any problems, there was no need for me to use the demo account.A demo account is not only for beginners. In the future, when you become an experienced trader, you can also use a demo account. Because this is a great opportunity to test your trading system and strategy on real data in real time before applying it with real money.Well, yes, i have been even practicing on demo account lately on my favorite centralized exchange which happens to be Digifinex. Among the many exchange in existence, I prefer the above mentioned exchange for my features trading and also because it has a demo feature. Even while I was learning how to start forex trading, I start with the demo account which made me to learn how to assemble the indicator, how to read and understand charts and the indicators movements. Although I can not speak for everyone but I know that many newbies to trading actually learn from demo, else they will just end up to loses their capital.That's right, I also use a demo account to hone my skills in trading, not only that, I learned how to understand market charts... but I'm still not smart enough to develop a trading strategy and I know that in crypto trading we have to have a daily profit target and have to be smart. manage our assets so that we can profit many times over..
From studying the demo account I gained a lot of knowledge and was able to trade better than before.
At first, yes.I have been using a demo account because its benefits are not only for new traders. I DCA and hold BTC, the process is actually quite boring and I keep learning technical analysis methods. The Demo account can really help me verify what I have learned in a more visual and impressive way, which is impossible with back-testing.
Why not? It's one of the services offered by an exchange. So, this is much better for us to utilize the chance. But unfortunately, Not many people are interested, because the reasons are:
- Less challenging
- Not suitable for real-time trading
- Confused and others.
This is very useful for beginners who want to learn to use the exchange account. and useful for anyone who wants to learn about trading, but you have to be consistent in learning, and leave it immediately when we really understand how to enter real live trading.
I used the Demo Account at the beginning of the learning journey, but over time the psychological factor becomes important in the market, and sometimes a small loss is much better than trying to avoid a loss, as it teaches you to think better, while in the Demo Account, the zero loss makes your application of the strategy give less good results compared to what You will get it when you trade.
Demo Account is good for beginners and for those who trade from time to time, but for those who want to trade on a daily or weekly basis, it is better to try it directly in your account, even if you achieve losses.
Yes, that's true. The demo account is only good for those who don't know crypto trading yet, so at least they know what they're going to do when they start doing actual trades in the exchange they're going to enter.I also think that a little bit of loss is also necessary for traders to learn lessons about capital management and accepting market volatility. But I also do not think that Demo accounts limit traders from this ability, everything depends on the seriousness of the user. If used effectively, Demo accounts can limit the tuition we have to pay to gain knowledge and experience in the crypto market, thereby traders will have more capital to invest and create greater profits. Losses definitely exist in the trading journey, Demo accounts can help traders prepare better mentally for that.
But as much as possible, they should not rush themselves in the matter of actual trading; they should study and learn the basics of trading first. It is better to do it slowly but smoothly; at least if you experience a profit, at least someone gets new knowledge from the student. This is just my opinion and suggestion.
When I was new to trading I never used a demo account and now that I have a rough understanding of trading I still never use a demo account. With main account I get all kinds of benefits and with main account I try with main account I apply so why I feel the need for demo account. I also don't know how the demo account works because I'm used to using the main account. If I had problems using the main account, I might have used the demo account, but since I didn't have any problems, there was no need for me to use the demo account.Trading on Demon account is very useful for newbies to learn about trading and to understand how trading actually works. Trading on a real account as a new trader often leads to losses for many traders, because new traders do not know how emotions affect trading and how quickly market behavior can change. You are lucky enough to be using a real account for trading from the beginning, still trading means making profit, but not everyone has the same knowledge which makes demo account very useful for those who have no knowledge about trading.
The demo account is only good for those who don't know crypto trading yet, so at least they know what they're going to do when they start doing actual trades in the exchange they're going to enter.Of course, demo account is for the newbies or beginners who want to try trading with no risk. However, it can't describe 100% the real trading. When we do real trading, we got real losses or profits. But in demo trading, we don't get anything, it is just to explain us about how to trade in a general way.
But as much as possible, they should not rush themselves in the matter of actual trading; they should study and learn the basics of trading first.
Of course, demo account is for the newbies or beginners who want to try trading with no risk. However, it can't describe 100% the real trading. When we do real trading, we got real losses or profits. But in demo trading, we don't get anything, it is just to explain us about how to trade in a general way.
Yes, don't rush to trade. We must ensure that we have proper knowledge before we begin trading. If we don't have proper knowledge yet, we need to stay learning first.
Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?
Even on my very first time to trade, i never used any demo account or page for it, i'm talking about spot trading. If its a future trading i will be glad to if there is a demo account for it as i really want to try it even once.It's true, spot trading is better to practice directly so that you will know the correct way to enter and of course as long as you often do it by analyzing coin price movements on the exchange then you will have very valuable experience and can make you rich. Trading futures is very risky and I think it tends to be more like gambling.
Yes, when I first joined the world of cryptocurrency, I used a demo account at MIFX first. MIFX is not in the realm of cryptocurrency, but what I learned was the trading mechanism. This helped me a little to know some basic terms for buying and selling. For experience, profit and loss goes according to experience.Usually, a Demo account is used to guide users to experience the most basic features of the exchange to place orders, buy and sell assets. I think there is usually not much difference between the Demo accounts of CEXs: they are aimed at new users, new traders, and have a few integrated trading pairs.
My first trade was on Etherdelta, where I arbitraged on the DEX because I saw a good opportunity. However, DEX did not give me satisfaction, so I finally switched to CEX such as Bitrex and Binance for trading. Until now, I don't know for sure whether there is a demo account for trading on Binance and Bittrex.
Because I already have basic trading knowledge, I'm not too confused about the UI/UX of Binance and Bittrex.
Yes, and up till now I'm still practicing with a demo account because I haven't completed my trainings yet. I advice everyone that wants to become a good trader to practice with deno accounts first, because it helps alot to build your trading skills, both psychological and emotional trading skills.I don't believe that demo account is a best way to build your trading psychology because there is no emotion when you trade using demo account, you didn't lose any amount of money. But you're right, you can build your trading skills in demo account. You can back test your strategy no matter how many trades you want, as long as you can't prove to yourself that your strategy can't make you profitable then don't stop demo trades.
I think using a Demo Account is important for traders at all levels of experience and not only beginners. But then it will do more good for beginners. When I was learning trading I was given a Demo Account to use for a month before I was taught other basics to prepare me for real trading conditions. The Demo Account provided me with a risk-free environment to practice trading strategies, enhanced my market analysis skills, increased my confidence, and allowed for self-assessment without the fear of losing real money. Utilizing a Demo Account was an essential step in any trader’s investment journey.Clearly, good preparation in terms of knowledge and emotions is necessary for any journey, including trading in the crypto market. Many people have skipped the Demo account because they want to burn progress and quickly enter the market to make profits right away, perhaps that is FOMO. They will have to pay a lot of tuition to gain experience, while that experience can be gained from a Demo account and that tuition can be used to generate profits with better knowledge and capital management skills.
As for my personal experience with Demo Accounts, I have used them on various platforms to practice trading strategies and improve my skills. The platform I have found most useful for Demo Accounts is Binance`s Demo Account due to its comprehensive functionality that allows for realistic simulation of trading scenarios across different markets.
I don't believe that demo account is a best way to build your trading psychology because there is no emotion when you trade using demo account, you didn't lose any amount of money. But you're right, you can build your trading skills in demo account. You can back test your strategy no matter how many trades you want, as long as you can't prove to yourself that your strategy can't make you profitable then don't stop demo trades.Everything depends on the trader: if he is really serious, he can punish himself with an equivalent amount of money to experience the pain. That amount of money will be sent to another account, and the money in that account will only be used when he reaches the criteria of having stable profits with the demo account. I do not encourage using money to experience failure and buy experience in the market, that losing amount should be used as capital for a professional trader after using demo account ^^
I don't know how to use demo account for trading although some people make practice firstly with trading trough demo account, believe or not demo account is not the same with real account when practicing in trading. You will be easily take and earn much profit when using demo account believe you can't make the same achievement when using real account.If you want, you can still use a real money balance when trading with a Demo account: if you lose, you can give your money to a family member to hold and you can only get it back when you reach a certain goal in trading, such as having a stable profit of 30%/month for 3 months, or not blowing up your account, not letting your account drop by 30%...
Using real account will give us real pressure and more careful when trading, I think with demo account without pressure yet have loss or not because is not real capital and difference when practicing directly using real account.
Of course demo account is used by many people for trading but for those who are experts and have long trading experience there is no need to use demo account for trading. However, for those who are completely new to trading and have not gained any experience for the time being, if they use a demo account, the risk is less and they can make themselves an expert from the demo account and then discard the demo account now.To me, the Demo account has many values ​​for many subjects:
Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?I have not used any demo account for trading. I gained some experience in trading through a friend of mine and since then I have been trading on my own by acquiring some trading techniques. If a person can devote a few weeks to trading, I think demo trading will not matter much to him. However, if you understand the volatility of the market, you can succeed in trading. Besides, the most important thing in trading strategy is not to be too greedy. I don't think account is very important for investing and trading. But those who have no one to help them can gain some experience from demo trading account.
Yes, that's right, trading using a demo account will only be a waste of time. To practice, you have to practice directly so that it will be easy to determine the right position to enter and exit to withdraw the profits you have obtained. Trading with the system you mentioned means you choose long-term trading and that is good enough, you don't need to spend a lot of time always looking at the conditions of the exchange.Have you been using Demo Account? On which platform do you use Demo Account? Do you think Demo Account is important for your investment journey?I have not used any demo account for trading. I gained some experience in trading through a friend of mine and since then I have been trading on my own by acquiring some trading techniques. If a person can devote a few weeks to trading, I think demo trading will not matter much to him. However, if you understand the volatility of the market, you can succeed in trading. Besides, the most important thing in trading strategy is not to be too greedy. I don't think account is very important for investing and trading. But those who have no one to help them can gain some experience from demo trading account.
Yes, that's right, trading using a demo account will only be a waste of time. To practice, you have to practice directly so that it will be easy to determine the right position to enter and exit to withdraw the profits you have obtained. Trading with the system you mentioned means you choose long-term trading and that is good enough, you don't need to spend a lot of time always looking at the conditions of the exchange.I will agree with you on that point when a person knows how to do trading I mean technical analysis and as well as also fundamental analysis. But I will disagree with you directly if you say using the demo account for trading will be only waste of time. Because in the beginning every trader should start trading by demo. Otherwise those who jump directly into trading like me will lose. I was testing them after my start and learning on my binance original account and because of that I suffered a good amount of loss. So, basically for learning I think when you learn something you should do demo trading to apply it.
Of course demo account is used by many people for trading but for those who are experts and have long trading experience there is no need to use demo account for trading.I don't agree with you, a new user should never rely on demo account because on demo account he/she is not doing actual trading and that's why the user won't learn anything because he/she may not have any emotions during that trading session.
Trading still use demo account? when you get braveness when using real fund and get motivate for investing in real coins.Demo accounts are not bad and not useless, the results depend on the user. If a trader does not have a clear goal when using a demo account, he will not get any value from using it. Conversely, it is also a pity that a trader is willing to spend hundreds of thousands of dollars to learn from failures and understand that he must have technical analysis knowledge in order to trade successfully, he has paid too high tuition for market.
I know its not wrong when using demo account but the implementation is not the same when using real account and real fund, better learn basic about trading from deposit, withdraw and how to buy coin then try it with real account.
In demo account everything easily, trade some coins without analyze has chance to earn much profitable but when using real account you loss opportunity not the same with demo account.
It wasnt been created without having a purpose and this is something which is really just that depends on how someone would really be using it. When it comes to realization on things or learning up those terms and indicators then i would say that this one would really be that helpful but on the time that we do make use of it and believe that we are already professionals then its notTrading still use demo account? when you get braveness when using real fund and get motivate for investing in real coins.Demo accounts are not bad and not useless, the results depend on the user. If a trader does not have a clear goal when using a demo account, he will not get any value from using it. Conversely, it is also a pity that a trader is willing to spend hundreds of thousands of dollars to learn from failures and understand that he must have technical analysis knowledge in order to trade successfully, he has paid too high tuition for market.
I know its not wrong when using demo account but the implementation is not the same when using real account and real fund, better learn basic about trading from deposit, withdraw and how to buy coin then try it with real account.
In demo account everything easily, trade some coins without analyze has chance to earn much profitable but when using real account you loss opportunity not the same with demo account.
Demo accounts are created to guide users on how to use the features of CEX, and also allow them to practice using technical analysis for trading without having to pay too high tuition from failures. I think demo accounts will still be useful and will continue to be maintained by CEX and trading data providers.
Of course demo account is used by many people for trading but for those who are experts and have long trading experience there is no need to use demo account for trading. However, for those who are completely new to trading and have not gained any experience for the time being, if they use a demo account, the risk is less and they can make themselves an expert from the demo account and then discard the demo account now.Demo account is created for experts. It is only for newbies or beginners. Demo account is used to understand the basic thing of trading. When the beginners already understand all the basic things, they are no longer to use demo accounts. We must be aware that demo account is purposed to get experience. It is just for basic practical purpose, it shows how to practice trading basically. If you think you are experienced traders, you don't need to try it.
Demo account is created for experts. It is only for newbies or beginners. Demo account is used to understand the basic thing of trading. When the beginners already understand all the basic things, they are no longer to use demo accounts. We must be aware that demo account is purposed to get experience. It is just for basic practical purpose, it shows how to practice trading basically. If you think you are experienced traders, you don't need to try it.But I think some large exchanges do not highlight demo accounts at the start of registration, meaning there is something strange between the differences in the public's views compared to the views of exchange managers regarding the existence of cryptocurrencies. In fact, I see that demo accounts are more dominant on platforms that are used to make money for registrants, such as binary trading and gambling platforms. Maybe, I see people who buy cryptocurrency will only carry out cryptocurrency buying and selling transactions on the available platforms, without intending to look for short-term profits.
Demo account is created for experts. It is only for newbies or beginners. Demo account is used to understand the basic thing of trading. When the beginners already understand all the basic things, they are no longer to use demo accounts. We must be aware that demo account is purposed to get experience. It is just for basic practical purpose, it shows how to practice trading basically. If you think you are experienced traders, you don't need to try it.Demo account only for learning about basic trading from way to buy or sell coins until deposit and withdrawal fund, I think implement with trading way get difference between using real account and real fund in trading. I know some people can learn more with demo account trading but believe or not when using real account trading has difference than demo account. If you seems comfortable and easily how to understood when using demo account can't guarantee will get much profitable when using real account.
Of course demo account is used by many people for trading but for those who are experts and have long trading experience there is no need to use demo account for trading. However, for those who are completely new to trading and have not gained any experience for the time being, if they use a demo account, the risk is less and they can make themselves an expert from the demo account and then discard the demo account now.Sometimes an experienced trader will still make use of demo account. According to some traders that I know, they said they use demo account not quite often because they have experience about trading already, but that there are sometimes they may want to learn sometimes new like new indicators and something like that, or when they are studying about new trading strategy that they made up themselves, to know how something like that will be if used with certain amount of demo funds for practice.
If you think you are experienced traders, you don't need to try it.If you are an experienced rider already and then you go ahead to try out a new trading strategy on the live market, you may lose and end up making losses on your accounts because you fail to practice and try out your new strategy using demo accounts. if you are a newbie to trading any you decide to skip learning process and a time dedication to practicing in a demo account, you will experience looses that may discourage you from continuing with the decision to become a trader.
Of course demo account is used by many people for trading but for those who are experts and have long trading experience there is no need to use demo account for trading. However, for those who are completely new to trading and have not gained any experience for the time being, if they use a demo account, the risk is less and they can make themselves an expert from the demo account and then discard the demo account now.
It wasnt been created without having a purpose and this is something which is really just that depends on how someone would really be using it. When it comes to realization on things or learning up those terms and indicators then i would say that this one would really be that helpful but on the time that we do make use of it and believe that we are already professionals then its notI agree that a demo account cannot create strong emotions like a real account, and the demo account is not created to help traders experience those emotions. A demo account is encouraged to be used when users learn how to use CEX, approach technical analysis and capital management, and develop new approaches in the market. As for the issue of emotional management, the boredom of using demo account can be an advantage, it makes traders calmer, and when trading becomes boring, traders can work in the market with a cool head, not forgetting to place stop-loss orders and avoid many wrong decisions 8)
something that you would really be able to make yourself survive. The one thing that we cant be able to learn on demo trading is that we wont really be making ourselves that good when it comes to emotion and this is something that you wont really be able to handle it out.
Making strategical changes regarding this type of situation makes sense because you are training your mind. A lot of people try to train their ideas in bots or even AI needs to be trained and all, but they do not train their mind. When you come up with something new, if you could train your mind like that for a long time, you will be able to get better at it. If you do that in real trading, yo will lose a lot of money and you shouldn't do that at all, but if you do that within demo world then you will not have any problems at all, you will be able to make a lot more money without a doubt, because you will lose at demo and be good at real one.People who regularly follow youtube videos especially in trading are more prone to AI technology or bot trading. Bot trading or auto invest whatever we call this kind of feature usually the person doesn't have to do much work just follow certain rules and put his money there and the bot does automatic trading and automatic trading results in both profit and loss. I did bot trading once just to see how bot trading works but after four to five days of putting money there I didn't get any profit. And there I had a small amount of loss at which time I stopped all this and gave my full attention to my manual trading. All the videos that are uploaded on YouTube present trading in such a simple way that a trader can easily trade and make profit from trading.
I never try to trade using bot because in the first place the market will not always go with the same price action. Sometimes the price sweep a liquidity before going up and sometimes don't. I heard a lot of traders here who use bot have the same result, they lose. But we can't blame them because we didn't know if we don't try. Some people are just too busy or just don't know how to TA that's they let others to make it for them. If that's the case, how about using copy trade, there are traders who really made profit from it.Making strategical changes regarding this type of situation makes sense because you are training your mind. A lot of people try to train their ideas in bots or even AI needs to be trained and all, but they do not train their mind. When you come up with something new, if you could train your mind like that for a long time, you will be able to get better at it. If you do that in real trading, yo will lose a lot of money and you shouldn't do that at all, but if you do that within demo world then you will not have any problems at all, you will be able to make a lot more money without a doubt, because you will lose at demo and be good at real one.People who regularly follow youtube videos especially in trading are more prone to AI technology or bot trading. Bot trading or auto invest whatever we call this kind of feature usually the person doesn't have to do much work just follow certain rules and put his money there and the bot does automatic trading and automatic trading results in both profit and loss. I did bot trading once just to see how bot trading works but after four to five days of putting money there I didn't get any profit. And there I had a small amount of loss at which time I stopped all this and gave my full attention to my manual trading. All the videos that are uploaded on YouTube present trading in such a simple way that a trader can easily trade and make profit from trading.
I never try to trade using bot because in the first place the market will not always go with the same price action. Sometimes the price sweep a liquidity before going up and sometimes don't. I heard a lot of traders here who use bot have the same result, they lose. But we can't blame them because we didn't know if we don't try. Some people are just too busy or just don't know how to TA that's they let others to make it for them. If that's the case, how about using copy trade, there are traders who really made profit from it.Bot trading is not something we can completely trust. If a trader has an extremely effective trading method and he can digitize it into a Bot, then the Bot can trade for him with a higher frequency. However, the Bot also needs to be regularly adjusted to have the most suitable strategy for each stage and state of the market. Its effectiveness comes from the trader himself, not from a fixed algorithm.
-snip-Not in the long run, but AI Bot will help you to know what you can buy when BOT Ai gives info on what coins have the potential to rise.
AI is very effective, but it is not yet good enough to be applied to Bot trading in the long term. Many AI Bot trading services are advertised on the Internet but that is not the way we can make money: the opportunity is not for the crowd! Instead of trusting in Bots or AI, traders should learn and practice on their own with a Demo account to improve their ability to analyze the market, then they can create and maintain their own Bots if they want ^^
-snip-Not in the long run, but AI Bot will help you to know what you can buy when BOT Ai gives info on what coins have the potential to rise.
AI is very effective, but it is not yet good enough to be applied to Bot trading in the long term. Many AI Bot trading services are advertised on the Internet but that is not the way we can make money: the opportunity is not for the crowd! Instead of trusting in Bots or AI, traders should learn and practice on their own with a Demo account to improve their ability to analyze the market, then they can create and maintain their own Bots if they want ^^
Even so, basic knowledge or good enough in trading is needed.
Because a person's trading ability will also determine whether they can get profits or not.
I see several Bots that make it easier for someone to buy quickly and get calls to buy very potential Coins.
The demo is particularly helpful for novice traders entering the cryptocurrency field. But the demo is different when it comes to the actual real world of trading here in the crypto trading industry.Exactly, demo trading is not the same as real trading. The demo is surely used by novice or newbie traders to understand the basic thing of trading. But if we want to get the experience and further knowledge, we must do real trading with real account. But it is not a bad idea to use demo first, it will help us to understand more about the basic things in trading.
Exactly, demo trading is not the same as real trading. The demo is surely used by novice or newbie traders to understand the basic thing of trading. But if we want to get the experience and further knowledge, we must do real trading with real account. But it is not a bad idea to use demo first, it will help us to understand more about the basic things in trading.I'm not really sure about this. I'm not an intra-day trader, I'm a long-term investor, or a trader who holds positions for 1-2 years. I've been in the market since 2017 but I'm still using a demo account to increase my experience with market volatility and refine my new trading method based on LPPLS. Of course, I still use a real account to DCA BTC and a few ALTS, that doesn't stop me from using a demo account to practice in order to be best prepared for the upcoming distribution zone after the bullrun. For me, using a demo account is like a samurai who still practices with a wooden sword to test new techniques in battle ^^
I have never had the opportunity to use a bot for trading but one that is AI, the truth is that it scares me a lot, especially because they are things that can take money away, I have a brother-in-law who got into that and almost lost even house because he started looking for people so that they could be referred to something like that, and they put in a lot of money, and they started trading and that went very badly for them, then they looked for the brother-in-law and started saying that he had to answer for that money and that It was a very big problem, so things with AI for trading are something very delicate, I personally have not seen a bot that is something that guarantees a big profit or that with little money a lot can be done, that is something uqe I haven't been able to see yet.I never advise anyone else to use Bot Ai or anything like that, because it's quite risky.
You would directly be able to tell the difference once you do make use of a real or live account on which making use of that real money. The one thing that you cant really be able to learn in demo trading is on that emotion handling on which this is something that you wouldnt really be able to learn on the time that you would really be focusing on demo.The demo is particularly helpful for novice traders entering the cryptocurrency field. But the demo is different when it comes to the actual real world of trading here in the crypto trading industry.Exactly, demo trading is not the same as real trading. The demo is surely used by novice or newbie traders to understand the basic thing of trading. But if we want to get the experience and further knowledge, we must do real trading with real account. But it is not a bad idea to use demo first, it will help us to understand more about the basic things in trading.
I have never had the opportunity to use a bot for trading but one that is AI, the truth is that it scares me a lot, especially because they are things that can take money away, I have a brother-in-law who got into that and almost lost even house because he started looking for people so that they could be referred to something like that, and they put in a lot of money, and they started trading and that went very badly for them, then they looked for the brother-in-law and started saying that he had to answer for that money and that It was a very big problem, so things with AI for trading are something very delicate, I personally have not seen a bot that is something that guarantees a big profit or that with little money a lot can be done, that is something uqe I haven't been able to see yet.I never advise anyone else to use Bot Ai or anything like that, because it's quite risky.
From the beginning I disclaimer that following investment advice from others is a risk that must be borne alone, there is no necessity to follow it.
I didn't even use all my funds to go to the AI Bot, it was very minimal funds and the swallows used were also new swallows.
Don't occasionally put everything in one basket because it's risky.
Whether it's Bot Ai, or something else, swallow security, funds are important.
Your brother-in-law may not give the person a warning, because that would be very risky.
All risks have to be borne by yourself, there is no financial advice or anything like that, it is a personal choice.
When I was taught about crypto by the community, I was then directed to try trading with a Demo account on the exchange, the results were very satisfying, always profitable, I was surprised and confused because it was so easy to trade and take profits on the Demo account market. After I tried with a real account and the result was that my portfolio decreased because the coins I bought were dumped, this was very disappointing because the Demo account always made a profit but the real account once traded immediately at a loss.There are 2 possibilities: either the market has changed its regime so that the knowledge you have gained with the Demo account is no longer effective when applied in practice, or you have not managed your trading psychology effectively when faced with real profits and losses. Both of these cases can be improved by using a Demo account for a longer period of time with more rigor towards losses and profits. Give yourself small rewards or small punishments to experience the crypto market more cautiously.
When I was taught about crypto by the community, I was then directed to try trading with a Demo account on the exchange, the results were very satisfying, always profitable, I was surprised and confused because it was so easy to trade and take profits on the Demo account market. After I tried with a real account and the result was that my portfolio decreased because the coins I bought were dumped, this was very disappointing because the Demo account always made a profit but the real account once traded immediately at a loss.Using demo account is effective for practicing trading and traders use demo account to learn how trading works. Profitable in demo account does not guarantee that you will be able to profit in real account. Many things directly affect real account which are not in demo account, like emotions affect real account more because you are using real money to trade. And since no real money is involved in the demo account, it does not affect the trader emotionally, thereby allowing the trader to take trades without fear. So you need to develop trading skills to become a profitable trader, demo trading will never help you to become a profitable trader. Demo trading account can only be used for trading practice.
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.Exactly, before we understand the conditions of cryptocurrency price movements on exchanges, we should use a demo account to learn to understand cryptocurrency price movements that might occur next. 2017-2018, as I remember, was a year where lots of projects were created and cryptocurrency prices also increased very sharply.
I used the Demo Account at the beginning of the learning journey, but over time the psychological factor becomes important in the market, and sometimes a small loss is much better than trying to avoid a loss, as it teaches you to think better, while in the Demo Account, the zero loss makes your application of the strategy give less good results compared to what You will get it when you trade.You would be surprised what trading on a demo account can do to a newbie trader and I speak this out of my own personal experience. Before now trading has been one of the talks of area in my locality, I mean everyone was practically Bragging on how easy to trade on synthetic can really be but unknown to me that the profits and trade sessions in my demo can just be a lure in to the actual main thing when trading with main accounts. It was really scary for me because the huge profit I made with my demo account was all just a mirage because the money I later lost was fucking crazy when I decided to try out my real account.
Demo Account is good for beginners and for those who trade from time to time, but for those who want to trade on a daily or weekly basis, it is better to try it directly in your account, even if you achieve losses.
I'm not really sure about this. I'm not an intra-day trader, I'm a long-term investor, or a trader who holds positions for 1-2 years. I've been in the market since 2017 but I'm still using a demo account to increase my experience with market volatility and refine my new trading method based on LPPLS. Of course, I still use a real account to DCA BTC and a few ALTS, that doesn't stop me from using a demo account to practice in order to be best prepared for the upcoming distribution zone after the bullrun. For me, using a demo account is like a samurai who still practices with a wooden sword to test new techniques in battle ^^What experience can we improve from demo account? It won't increase experience if it has no risk at all. Even it won't learn us how to strengthen our mentality because we know it has zero risk in using demo account. The best way is to use real account and do real trading, it should improve the mentality and experience because we can't decide anything carelessly. We will learn how to decide anything with many considerations.
The usage of demo account in learning how to trade cryptocurrency is a very good development. It is also recommended to all the newcommers in cryptocurrency trading to use the demo account to build their confidence and learn the basics of trading before creating a real account. However, over dependent on the demo account can also affect the learner. There's a clear difference between the demonstration account and real account in terms of emotional and financial management. When there's something to lose, anxiety rises. So, while using the demo account, you can also spear some bucks to try the real version.Yes, it's sometimes needed, but for some reason lately I haven't seen a demo account feature for some of my favorite exchanges...in fact, I've found demo accounts more often for several platforms, such as gambling platforms or casinos.
The usage of demo account in learning how to trade cryptocurrency is a very good development. It is also recommended to all the newcommers in cryptocurrency trading to use the demo account to build their confidence and learn the basics of trading before creating a real account. However, over dependent on the demo account can also affect the learner. There's a clear difference between the demonstration account and real account in terms of emotional and financial management. When there's something to lose, anxiety rises. So, while using the demo account, you can also spear some bucks to try the real version.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.
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.Right, mentality trading couldn't be learn with demo account and controlling emotion difference when using real account between demo account.
We can learn mentality from other things, and what I feel is from our experience and readiness to face risks.
Demo trading is relevant when you are really that a complete newbie or even someone whose that been doing trading and tending to make out some backtesting. This is somethingOf 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.
that you would really be needing to look upon and its really that relevant. It would really be just that on the time that you are already have learned enough on demo
then you should be starting on doing some trades on live market with live account or balance. This is where real trading do begins on which on the time that you can potentially earn or lose money.
This is why you would really be serious on whatever decisions that you would really be making.
That is correct!The usage of demo account in learning how to trade cryptocurrency is a very good development. It is also recommended to all the newcommers in cryptocurrency trading to use the demo account to build their confidence and learn the basics of trading before creating a real account. However, over dependent on the demo account can also affect the learner. There's a clear difference between the demonstration account and real account in terms of emotional and financial management. When there's something to lose, anxiety rises. So, while using the demo account, you can also spear some bucks to try the real version.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.
That is correct!As you said, traders need to experience both technical analysis knowledge training and psychological control during trading, and a real account will provide valuable lessons for capital and psychological management. However, I look at the problem in a different way with less tuition: I don't see trading as a profession that creates excitement, I think it's really boring, and it's the boredom that creates a cool head when cutting losses or taking profits. A Demo account can create that intentional boredom.
It is always nice and highly connected when you contribute in a forum out of here real life experience. When you see someone making post from experience it differs from someone who generates random posts in other to increase their post count. I learnt trading with demo account and at a time I was able to grow my portfolio to an enviable height. But when I faced reality and lost a few times, I tend to abandon my nice strategy because of anxiety and it was when I lost the more. There's a very big line between demo and real account.
That is correct!Naturally from some post I have came across here that speaks about demo it shows that they aren't posing same fear with real account. Lemme say when you are trading with demo, you have that cool mindset that whatever it may be when the funds finishes you would load back but with real account if you tried raised 500$ and you sweep it of you could be looking for a way to raised back that same amount. This is what brings fear to traders, it called trading fever. Hence after much time with demo it's advisable to funding your account with the least you think can be able to risk.
It is always nice and highly connected when you contribute in a forum out of here real life experience. When you see someone making post from experience it differs from someone who generates random posts in other to increase their post count. I learnt trading with demo account and at a time I was able to grow my portfolio to an enviable height. But when I faced reality and lost a few times, I tend to abandon my nice strategy because of anxiety and it was when I lost the more. There's a very big line between demo and real account.
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.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.Right, mentality trading couldn't be learn with demo account and controlling emotion difference when using real account between demo account.
We can learn mentality from other things, and what I feel is from our experience and readiness to face risks.
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.
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.
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.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.
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.
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.
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.
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.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.
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.
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.
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 learningI 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.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.
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.
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.
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.
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.
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
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.
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.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.
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?
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.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.
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.
Demo trading is designed to demonstrate trading only to demonstrate trading. Like if we go to any mobile shop to buy mobile, they see demo mobile instead of original mobile just to convince customers. So demo trading platform is designed in such a way that you can enter and do everything you want but you will not get cost or profit but yes you will learn everything about trading. I did not use any demo trading first for trading I joined trading directly but I joined trading I earned from trading from the beginning. But now I've pretty much built myself up with the trading platform, even if I lose, it doesn't take long to recover. But for those who have no one to help them to teach trading I think it is very important for them to learn trading from demo trading because it is better not to trade without gaining 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.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.
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?
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.
If you're a newbie and interested in learning how to go about it, then you may choose to take some kind of tutorials in doing trade and know that such is only meant for the beginners, and you're yet to go into the real lifetime trading in proper, when we are determined to learn how to trade, we will be have to facer the required procedures needed for it, trading is not that difficult to quickly assimilate its learning.While Demo accounts can be very helpful, they cannot replace real accounts in the market. No matter how well prepared a trader is, they will encounter various problems when using a real account. I hope that Demo accounts can help traders avoid making silly mistakes when using CEX features or applying the wrong trading methods. The more traders prepare with a Demo account, the more risks they can avoid with a real account and real profits/losses.
You would really be able to tell up the difference in between demo trading and real account because using up real funds is something that would really be giving out that kind ofIf you're a newbie and interested in learning how to go about it, then you may choose to take some kind of tutorials in doing trade and know that such is only meant for the beginners, and you're yet to go into the real lifetime trading in proper, when we are determined to learn how to trade, we will be have to facer the required procedures needed for it, trading is not that difficult to quickly assimilate its learning.While Demo accounts can be very helpful, they cannot replace real accounts in the market. No matter how well prepared a trader is, they will encounter various problems when using a real account. I hope that Demo accounts can help traders avoid making silly mistakes when using CEX features or applying the wrong trading methods. The more traders prepare with a Demo account, the more risks they can avoid with a real account and real profits/losses.
If you're a newbie and interested in learning how to go about it, then you may choose to take some kind of tutorials in doing trade and know that such is only meant for the beginners, and you're yet to go into the real lifetime trading in proper, when we are determined to learn how to trade, we will be have to facer the required procedures needed for it, trading is not that difficult to quickly assimilate its learning.Even though it's only for beginners, at least we can understand the situation of those who don't understand cryptocurrency. Like when we didn't understand cryptocurrency, we studied it first before trading cryptocurrency. At least for now there are many different networks so you have to be careful when owning cryptocurrency assets.
You would really be able to tell up the difference in between demo trading and real account because using up real funds is something that would really be giving out that kind of emotion specially on using up a real balance on which this is something that would really be affecting up your emotion when real money in on the talks but in speaking about practice trading then this is something that you would really be needing to consider but nothing beats out the real learning on where live trading could really be able to give out.We all easily recognize this, but sometimes I think that the boredom in the Demo account also has its own benefits: it helps traders have fewer emotions in this market and see trading as just a data-driven job as if it is not related to personal interests. At that time, traders can keep a cool head to make wiser decisions, not be too greedy or afraid. He will trade based on what he sees, not what he want.
While Demo accounts can be very helpful, they cannot replace real accounts in the market. No matter how well prepared a trader is, they will encounter various problems when using a real account. I hope that Demo accounts can help traders avoid making silly mistakes when using CEX features or applying the wrong trading methods. The more traders prepare with a Demo account, the more risks they can avoid with a real account and real profits/losses.Of course. Demo account is never the same as real account. There is no risk when we use demo accounts. It is just for beginners to know the basic things of how we trade in the exchange. If we know the basic things, we can trade in the exchange in a proper way. However, when we want to have real experience and want to improve our trading skills, demo account can't help us. We must use the real account to know the reality in the exchanges.
Yes Demo account can be used to learn the basics of trading things like, how to buy & sell, how to set TP/SL etc.... Demo account contains fake money so there is no risk so don't mix real trading account with demo account. But I would not say that a demo account will not help a person in any way in learning trading. Demo account can help only those who are totally noob in tradingWhile Demo accounts can be very helpful, they cannot replace real accounts in the market. No matter how well prepared a trader is, they will encounter various problems when using a real account. I hope that Demo accounts can help traders avoid making silly mistakes when using CEX features or applying the wrong trading methods. The more traders prepare with a Demo account, the more risks they can avoid with a real account and real profits/losses.Of course. Demo account is never the same as real account. There is no risk when we use demo accounts. It is just for beginners to know the basic things of how we trade in the exchange. If we know the basic things, we can trade in the exchange in a proper way. However, when we want to have real experience and want to improve our trading skills, demo account can't help us. We must use the real account to know the reality in the exchanges.
Yes Demo account can be used to learn the basics of trading things like, how to buy & sell, how to set TP/SL etc.... Demo account contains fake money so there is no risk so don't mix real trading account with demo account. But I would not say that a demo account will not help a person in any way in learning trading. Demo account can help only those who are totally noob in tradingSimilar to technical indicators, the value of a Demo account depends on how users utilize it for their own purposes. Learning to use the features of CEXs, technical indicators, capital management, time management, psychological management, getting acquainted with market volatility... - each user will have their own purposes when approaching a Demo account, even professional traders can use Demo accounts as a form of entertainment because they do not have enough capital to invest in all markets, all assets, all tokens. I have been involved in crypto trading since 2017, but I still continue to use Demo account to test both classic and modern technical indicators.
Yes Demo account can be used to learn the basics of trading things like, how to buy & sell, how to set TP/SL etc.... Demo account contains fake money so there is no risk so don't mix real trading account with demo account. But I would not say that a demo account will not help a person in any way in learning trading. Demo account can help only those who are totally noob in tradingThat's right, a demo account will help beginners so they can learn how to start an entry, place a stop loss or place a take profit. Because it's impossible for us to immediately enter a real trade even though we don't know what we should do.
That's right, a demo account will help beginners so they can learn how to start an entry, place a stop loss or place a take profit. Because it's impossible for us to immediately enter a real trade even though we don't know what we should do.I believe that each tool has its own value, and each user can explore and use it in their own way to maximize that value. Demo accounts are also similar, they may be unnecessary for many traders, but they are still useful for me to track the market and test new trading methods that I have access to or that I have developed myself based on advances in data analysis. For me, a demo account is a great gift that CEX or TradingView platforms have created to promote the development of the market, even though they initially just wanted to have more users and trading volume to earn more profits ^^
It can be learned on a demo account. There may be more complicated levels such as indicators and such, but we can do that slowly. There are also many beginners who end up becoming good traders starting from learning on a demo account.
That's right, everything that exists must have a use, depending on how we look at it. Sometimes there are people who think something is a small thing, but if you dig deeper, you can feel the benefits.That's right, a demo account will help beginners so they can learn how to start an entry, place a stop loss or place a take profit. Because it's impossible for us to immediately enter a real trade even though we don't know what we should do.I believe that each tool has its own value, and each user can explore and use it in their own way to maximize that value. Demo accounts are also similar, they may be unnecessary for many traders, but they are still useful for me to track the market and test new trading methods that I have access to or that I have developed myself based on advances in data analysis. For me, a demo account is a great gift that CEX or TradingView platforms have created to promote the development of the market, even though they initially just wanted to have more users and trading volume to earn more profits ^^
It can be learned on a demo account. There may be more complicated levels such as indicators and such, but we can do that slowly. There are also many beginners who end up becoming good traders starting from learning on a demo account.
That's right, a demo account will help beginners so they can learn how to start an entry, place a stop loss or place a take profit. Because it's impossible for us to immediately enter a real trade even though we don't know what we should do.I believe that each tool has its own value, and each user can explore and use it in their own way to maximize that value. Demo accounts are also similar, they may be unnecessary for many traders, but they are still useful for me to track the market and test new trading methods that I have access to or that I have developed myself based on advances in data analysis. For me, a demo account is a great gift that CEX or TradingView platforms have created to promote the development of the market, even though they initially just wanted to have more users and trading volume to earn more profits ^^
It can be learned on a demo account. There may be more complicated levels such as indicators and such, but we can do that slowly. There are also many beginners who end up becoming good traders starting from learning on a demo account.
Demo trading wasnt that created for having no purpose on which its true that this is something that would be also a relevant thing specially into those peopl who had been starting on doing trading on which we know that there would really be those noobs who would really be making use of demo platform yet there would really be suggestions that would be made on which its not really that a bad option for you to start up on learning trading on using up demo. You could really be able to familiarize on things on what you should really be able to realize and this is something thatThat's right, everything that exists must have a use, depending on how we look at it. Sometimes there are people who think something is a small thing, but if you dig deeper, you can feel the benefits.That's right, a demo account will help beginners so they can learn how to start an entry, place a stop loss or place a take profit. Because it's impossible for us to immediately enter a real trade even though we don't know what we should do.I believe that each tool has its own value, and each user can explore and use it in their own way to maximize that value. Demo accounts are also similar, they may be unnecessary for many traders, but they are still useful for me to track the market and test new trading methods that I have access to or that I have developed myself based on advances in data analysis. For me, a demo account is a great gift that CEX or TradingView platforms have created to promote the development of the market, even though they initially just wanted to have more users and trading volume to earn more profits ^^
It can be learned on a demo account. There may be more complicated levels such as indicators and such, but we can do that slowly. There are also many beginners who end up becoming good traders starting from learning on a demo account.
Again, this depends on how we see things. Are we going to look at it broadly, or are we going to look at it from a narrow angle. Learning can be done from anywhere and from anything, as long as we are serious about doing it.
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.
- The use of demo trading is a good way to ensure that the funds that we enter into the trading exchange platform are not immediately wasted. Actually, just last week, because I wanted to learn futures trading, I first practiced demo trading to know where and how I could get a profit from it.It's good that you started with demo account first before using real money in trading.
Because I know it's not that easy to get earnings here. Although I already have some ideas and knowledge about trading, that's why I decided to try to enter the futures trading activity.