Are you using a Demo account to practice trading?

[MrSpasybo]

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.

I believe that you can save a lot of tuition and losses by taking advantage of all the benefits of a Demo account. Please do not rush to trade with real money when you are not really ready in terms of both knowledge and risk management ability in this market.

[milewilda]

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 something
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.

[ScamViruS]

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.

[Jating]

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.

[MRY]

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.
After that the price entered a bearish season so it is very suitable to try demo trading to improve our skills in determining the next coin price movement.

[DaNNy001]

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.

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.

[KingsDen]

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.

[debra]

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.

I also have spent few years in crypto. I sometimes also use DCA, it can be for BTC or altcoins. Well, the effectiveness of this strategy will depend on the current situation of crypto market. So, I think I am the same with others, I use varied ways.

[bayu7adi]

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.

In fact, if we can also learn to demo by reducing the amount of money we use for trading, it will actually feel more real but only involves a small amount of emotion. For example, with $5 or $10... from this trading activity we will be able to find out our potential on a small scale, whereas if we already have great confidence we can increase the amount of our trading money gradually.

So, technically and mechanically, a trader will certainly understand the risks gradually. That being said, this may be why demo accounts are not available for some exchanges.

[$crypto$]

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.

[armanda90]

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.

Right, mentality trading couldn't be learn with demo account and controlling emotion difference when using real account between demo account.
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.

[Sim_card]

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 something
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.

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.

[KingsDen]

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!
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.

[MrSpasybo]

That is correct!
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.

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.

Of course, the boredom with a Demo account will be different from the boredom of trading with a real account for many years, but investors need to be ready for that to deal with extreme emotions such as being too greedy or too afraid when working with the market.

[SmartGold01]

That is correct!
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.

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.