Are you using a Demo account to practice trading?

[gunhell16]

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.

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.

[MrSpasybo]

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.

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.

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.

I still use a Demo account even though I am still trading, mainly DCA and holding BTC. Demo accounts still have their own values, and I believe that they are not only used for beginners, experienced traders can still experience and gain positive values from Demo accounts.

[ScamViruS]

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.

[Captain Corporate]

Having this type of discourse is of course normal and people could demo their methods as much as they want. Doesn't mean that they are going to profit from it but they could make it work one way or another. I feel like the best thing to do would be just focusing on what to do when you open a demo account because while some thing that they are going to be fine, some just go berserk. You can't just trade at a demo account and hope that you will do fine, sure you may end up getting some return, but the reality is that if you end up not trading like you normally do and just trade based on "fake money" logic, you will never get better.

[debra]

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.

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.

[BitMaxz]

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.

Do you recommend a few sites that have demo accounts for trading crypto or even just Bitcoin?
Recently practicing my trading skills even though I know crypto I still lost I still need more experience before I can make a good profit in trading. Tried futures recently but ended up losing 20% of my capital even though I applied all that I learned from the technical analysis it seems it doesn't work.

I have a few apps that also have demo accounts with free paper money but the problem is the chart is sometimes stuck.
I want to share the app name called "Stock market simulator game" it also has courses that help you understand everything about trading FA and TA.

[PX-Z]

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.

[bayu7adi]

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, 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.

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.

[EthereumDev_]

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.

[MrSpasybo]

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.

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.

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.

I have used Binance's Demo account before, and it is a Demo account for futures. I am not sure if Bittrex supports Demo accounts or not. I think CEXs should organize monthly awards to reward Demo accounts that generate the highest profits, which could encourage potential users to come to CEX.

[Mr. Allcrypto]

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.

[jeraldskie11]

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.

[DragonF]

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.

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.

[MrSpasybo]

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.

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.

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.

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 ^^

[bounceback]

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.
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.