Are you using a Demo account to practice trading?

[Faisal2202]

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

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.

That's why I was not taking the demo account seriously, but after reading your post and a quote from the link that you gave, which is train hard, fight easy (Alexander Suvorov) I began to think, before getting into trading I should really learn some things (that's obvious) but also test them on Demo. By the way, did you not try the demo account of the link that you gave, I am talking about ATAS.

PS: From where are you learning trading, I also want to start, I asked this question from some members, but I am asking again in hope of getting some more good content, like is there any YT channel, or you have paid courses, what?

[pacar_tiri]

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.

[debra]

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!

[Captain Corporate]

Do not belittle people who try to learn this way, its not really all that crazy to do something like this, it should be as normal as it gets. We are talking about something that would not hurt anyone, so why worry about something like that at all? We should be considering that as normal as it gets. We are going to of course end up with realizing its not the same, but it will not be a terrible idea. Even if you do not like the idea, which is of course normal and you have the right to do so, doesn't mean that you should mock people who want to learn this way, its just not fair at all to them.

[LUCKMCFLY]

The demo account are not bad, they are quite the opposite, they are very good for us to be able to learn and apply all our strategies, we are people who are always going to generate a way of learning and it is better to do it in a demo cuetnaw where we learn better each thing from a exchange, everything we do, we can make mistakes, but as long as we do it in a demo mode, in fact, with my real account, first I make an operation in a demo mode or 2 and see if it is viable to edit it with the real account .

Of course that is a strategy that I do to avoid martingales in markets like forex, binary options, but in futures it also applies and you can do great things, this is only because it makes you grow as a trader, and at the same time get the most out of it. The demo accounts must always be used for our benefit; otherwise, if the true value is not given to the demo account, there is no point in having it.

[antonyyu3]

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?

[Gurujebs]

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.

[Aanuoluwatofunmi]

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.

[gunhell16]

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.

Sometimes I wonder if a demo account really helps in trading, because I actually learned to trade without using a demo account. Although I am not saying that it will not bring anything good to newbies who will have an interest in trading, my point is that we can learn even without a demo account.

Because my training ground was the actual trading platform on the exchange, I started with only small capital amounts, to be honest. And I learned a lot during my time here in the field of the crypto business industry.

[Gladitorcomeback]

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.

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.

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.

[Trongduy]

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.

I am also quite serious about the condition of my account, not just because of the demo account but allowing myself to suffer heavy losses. I think when my demo account has stable profits over time, then I will join the market as a trader. Otherwise, just hold crypto to make it more leisurely and less stressful.

[MrSpasybo]

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.

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.

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.

For newbies, I think using a Demo account is necessary to practice and understand the market and yourself before putting money in and experiencing losses due to lack of experience. For stubborn people who want to try thrills and are willing to lose money to gain experience, they forget that before they want to make money, they must know how to keep capital. There are a few impatient traders who have a little capital and have used it to buy painful experience. Then when they have the ability, they no longer have capital to invest to make a profit 

[I-Bit]

At first, yes.
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.

[Litzki1990]

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.

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.

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.

[MrSpasybo]

At first, yes.
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 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.

I even believe that the Demo account helps me to keep a better mentality when trading with a real account, so that I can avoid the stress and pressure from the market and not make unwise decisions that are harmful to the account