Are you using a Demo account to practice trading?

[MUGNIA]

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

Yes, I used a demo account when I first learned to trade, and before I didn't know Binance and other exchanges, one of my friends asked me to trade on one of the platforms, but it was very difficult to trade on that platform, after I got to know crypto and the first market I knew. I know Indodax (local) for global Yobits if I'm not mistaken

[MrSpasybo]

Yes, I used a demo account when I first learned to trade, and before I didn't know Binance and other exchanges, one of my friends asked me to trade on one of the platforms, but it was very difficult to trade on that platform, after I got to know crypto and the first market I knew. I know Indodax (local) for global Yobits if I'm not mistaken

I think most traders have used a Demo account when they first enter the financial market because everything is quite complicated for newbies and they are all afraid that a mistake could make account/balance disappear, or they were in a hurry to understand more about technical analysis methods that they have just heard from KOLs ^^

Currently, all CEXs have Demo accounts, even projects/companies in the crypto market also provide this service to users. It is easy to create a simple portfolio to track the real portfolio or Demo portfolio on Tradingview, Coinmarketcap, Coingecko... Perhaps crypto traders no longer need to create manual trading journals on notebooks or Excel like many years ago!

[LUCKMCFLY]

Yes, I used a demo account when I first learned to trade, and before I didn't know Binance and other exchanges, one of my friends asked me to trade on one of the platforms, but it was very difficult to trade on that platform, after I got to know crypto and the first market I knew. I know Indodax (local) for global Yobits if I'm not mistaken

I think most traders have used a Demo account when they first enter the financial market because everything is quite complicated for newbies and they are all afraid that a mistake could make account/balance disappear, or they were in a hurry to understand more about technical analysis methods that they have just heard from KOLs ^^

Currently, all CEXs have Demo accounts, even projects/companies in the crypto market also provide this service to users. It is easy to create a simple portfolio to track the real portfolio or Demo portfolio on Tradingview, Coinmarketcap, Coingecko... Perhaps crypto traders no longer need to create manual trading journals on notebooks or Excel like many years ago!

I say that the most important thing about a certain demo is to avoid errors in an account with real money, my brother-in-law has $15k in an exchange that has made money but only in a certain demo, says the one who is already Prepared to have traded with a real Account and he bought a funding account, the truth is not how profitable it is , I have to ask him how it is, but According to him, who has had good returns, I don't know very well how the deal works when you buy that type of things , but I believe that when things are done well it can give results to push oneself to be a good trader , for me everything has to be little by little.

[milewilda]

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

Yes, I used a demo account when I first learned to trade, and before I didn't know Binance and other exchanges, one of my friends asked me to trade on one of the platforms, but it was very difficult to trade on that platform, after I got to know crypto and the first market I knew. I know Indodax (local) for global Yobits if I'm not mistaken

It is really just that right that you should really be going with the basics on which it would really be something that understandable that you would really be needing to start up if ever you do have that zero knowledge. Demo trading wasnt been put up on there without having no purpose on which this is something for realization and making yourself wary about on the basics on which
this is something that would really be relevant because we do know that there's no such thing about being that directly be able to know on different things. We do start on being a noob
so it would be just that right that you would be needing to start with the basics at least. If you do prefer on going live trading directly then it would really be your own choice.

[MrSpasybo]

I say that the most important thing about a certain demo is to avoid errors in an account with real money, my brother-in-law has $15k in an exchange that has made money but only in a certain demo, says the one who is already Prepared to have traded with a real Account and he bought a funding account, the truth is not how profitable it is , I have to ask him how it is, but According to him, who has had good returns, I don't know very well how the deal works when you buy that type of things , but I believe that when things are done well it can give results to push oneself to be a good trader , for me everything has to be little by little.

One of the most important things in trading is to avoid mistakes related to technique and capital management + emotions. It is clear that demo accounts can help investors prepare better for this, even though they cannot be as good as real money accounts with real losses + profits. I am quite curious about the trading method that your brother is using to generate such good profits, it would be more interesting to see the balance growth when he uses demo accounts and real accounts. The difference between them can help us understand the difference between using demo accounts and real accounts.

[ajiz138]

One of the most important things in trading is to avoid mistakes related to technique and capital management + emotions. It is clear that demo accounts can help investors prepare better for this, even though they cannot be as good as real money accounts with real losses + profits. I am quite curious about the trading method that your brother is using to generate such good profits, it would be more interesting to see the balance growth when he uses demo accounts and real accounts. The difference between them can help us understand the difference between using demo accounts and real accounts.

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.

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.

[LUCKMCFLY]

I say that the most important thing about a certain demo is to avoid errors in an account with real money, my brother-in-law has $15k in an exchange that has made money but only in a certain demo, says the one who is already Prepared to have traded with a real Account and he bought a funding account, the truth is not how profitable it is , I have to ask him how it is, but According to him, who has had good returns, I don't know very well how the deal works when you buy that type of things , but I believe that when things are done well it can give results to push oneself to be a good trader , for me everything has to be little by little.

One of the most important things in trading is to avoid mistakes related to technique and capital management + emotions. It is clear that demo accounts can help investors prepare better for this, even though they cannot be as good as real money accounts with real losses + profits. I am quite curious about the trading method that your brother is using to generate such good profits, it would be more interesting to see the balance growth when he uses demo accounts and real accounts. The difference between them can help us understand the difference between using demo accounts and real accounts.

Me too, except that he is in CHILE and I am in another country in the South that is a little far away, but he bought an anchorage, something like that, and he told me that if it was going well that he should buy me an account. And what was he going to tell me about his strategy, the truth is I don't know how he does it, because in CHILE he works cutting hair and from there he has always launched himself into the world of trading, I know that he follows multiple trading groups, signals, he is involved in All this, I don't know what he will do or how he will handle it, but if he does it with real money, the truth is if he tells me I will do it. Share it here for everyone with all the pleasure in the world.

[MrSpasybo]

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.

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.

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.

[milewilda]

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.

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.

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.

Emotional management is the main thing that you cant be able to learn up on doing demo trades.Whereas, you cant really be able to enhance your emotional aspect considering that you arent that risking real money on here and this is why you wont really be that serious that much on this one because you cant lose money.

This is why on the time that you are already familiarize with those basic principles then it would be better that you should be switching up into real live account.
The rest of the learning would really be learnt through this field because you would be really more serious specially on making use of real funds.

[UNIVERSE]

Yes, as you said, when people are new to cryptocurrencies, of course they don't understand what it is and how to trade cryptocurrencies correctly. A Demo account is needed for learning, after understanding then we can make a deposit and trade for real. 
By the way, I actually used to learn trading on YouTube and got directions from my friend who taught me Crypto, and didn't use a demo account to learn crypto trading.

Of course, it is normal when the newcomers don't know anything. That's why they need time to learn everything, it should take times. Demo account is one of the tools to make newcomers easier to understand trading. With demo account, it is expected the newbies/beginners will understand how real traders do trading in a proper way. However, besides the demo accounts, we also can learn from YT videos and articles from trusted sources. And we also can get the knowledge from experts, too. These are a part of lessons, all of them are good.

[bayu7adi]

By the way, I actually used to learn trading on YouTube and got directions from my friend who taught me Crypto, and didn't use a demo account to learn crypto trading.

Learning via YouTube can be quicker in understanding all the meanings of foreign terms when trading. Explanations and examples of use make us learn and digest basic knowledge in trading more quickly. This is clearly different from a demo account, where on a demo account we still have to try to try it ourselves according to the writing. Basically we have to trial error also with a demo account.

Meanwhile, if we look at mentors from YouTube, we can order the steps... starting from what we have to do first to the last. This structure is what makes the learning method more effective. Another idea that might be adopted is the use of a Demo account along with watching tutorials on YouTube.