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Cryptocurrency Trading / Re: Are you using a Demo account to practice trading?
« Last post by MrSpasybo on May 15, 2024, 09:25:20 PM »We won't get risk and emotional management when using a demo account, because in a demo account we won't feel the fear of losing the money we have, so that makes us better when doing analysis.Yes, I don't think traders should use real money to buy lessons on loss and emotional management in this harsh market. A more effective and economical way is for investors to trade for months with stable profits on a demo account and focus only on analyzing the market as objectively as possible instead of being swayed by negative emotions. In my opinion, emotions are not really necessary in this market. A successful trader is one who views trading as a boring and technical task: he is willing to cut losses and miss out on opportunities, as long as there is a steady growth in balance.
On the other hand, in a real account we will feel fear and that is actually what makes us doubt the results of our own analysis. However, as time goes by, we will definitely be able to suppress that fear and become even better when trading.