ayushsrk Posted February 4, 2012 Share Posted February 4, 2012 yes truly demo account is useful but I guess that it is useful to test new ideas rather than other types.But it is hard to manage many or multi accounts in the demo versions I think. Quote Link to comment Share on other sites More sharing options...
rexway Posted February 4, 2012 Share Posted February 4, 2012 managing multiple account is somehow difficult as a newbie,with demo you can increase your trading experience first then when involve in real trading things will not look new here for you,thank you Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 5, 2012 Share Posted February 5, 2012 I agree, it is not advisable for a newcomer trader to have multiple accounts. Better to stick to one account because, anyway, he/she is still a beginner trader who needs to learn a lot of things. Doing many things will not help him/her in this aspect. Quote Link to comment Share on other sites More sharing options...
rexway Posted February 5, 2012 Share Posted February 5, 2012 Demo account always act as my robot,because its what always give me signal abaut the market befor I make any decision of whetha to enter the market or not Quote Link to comment Share on other sites More sharing options...
pinoycity Posted February 9, 2012 Share Posted February 9, 2012 Demo account always act as my robot,because its what always give me signal abaut the market befor I make any decision of whetha to enter the market or not  Its the same with me too. I use my demo account to initially trade to get signals. Only when I see a signal do I enter a trade. But I will admit that every now and then, I will get impatient and neglect the demo account. Quote Link to comment Share on other sites More sharing options...
budado Posted February 11, 2012 Share Posted February 11, 2012 If you open multiple account just make sure you have a reason. For example I open multiple account for two reason. One is that I can put one strategy on each account and check what strategy is best to use. Second I use different brokers to check its features and so that I can use the best broker site that suits my liking. Quote Link to comment Share on other sites More sharing options...
luke1 Posted February 12, 2012 Share Posted February 12, 2012 I am not sure here if I can find the Forex Trader here, and success to make good profit here, without ever using the Demo Account before.. It seems impossible to know this Quote Link to comment Share on other sites More sharing options...
nullahfx Posted February 17, 2012 Share Posted February 17, 2012 I am not sure here if I can find the Forex Trader here, and success to make good profit here, without ever using the Demo Account before.. It seems impossible to know this    if just to make profit maybe it can be possible,, but be success I don't know it can be possible or not without using demo account before,, but nothing is possible in forex, that's what I have heard from all master traders.. Quote Link to comment Share on other sites More sharing options...
yenney611 Posted February 18, 2012 Share Posted February 18, 2012 demo account is usually what a new members in forex used. this is the way on how to learn trading without loosing anything and gaining anything. and so for the preparation for a live account. so before they might go for the live account, they should learn how to do it in demo account. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted March 1, 2012 Share Posted March 1, 2012 If you open multiple account just make sure you have a reason. For example I open multiple account for two reason. One is that I can put one strategy on each account and check what strategy is best to use. Second I use different brokers to check its features and so that I can use the best broker site that suits my liking. Â I agree. One should not limit him/herself with one broker. Other brokers should be tried and checked which has features which will, as you have mentioned, suit the taste of a particular trader. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted March 4, 2012 Share Posted March 4, 2012 Yup we need to also to check some forex brokers until we will able to find out which is one is the best. And also that we will know their difference even just using demo accounts. As for the difference in the spreads or different trading platform. Quote Link to comment Share on other sites More sharing options...
budado Posted March 6, 2012 Share Posted March 6, 2012 One thing I notice that even if they are using the same mt4 platform the result can't be the same. for example. In uwcfx when I sell a usd/cad pair I earn profit via swap interest and if I buy Ipay swap interest. but in liteforex when I sell usd/cad I pay interest and when I buy I also pay interest. In short I don't earn any swap intereste regardless if I do buy or sell in liteforex unlike in uwcfx. Quote Link to comment Share on other sites More sharing options...
adnan007 Posted March 21, 2012 Share Posted March 21, 2012 Trading through a demo account has its own benefits. Having a demo account to trade forex can help a newbie trader to get used to the trading platform as well as the trading environment. Professional traders also use demo account to test their new trading systems as well as indicators as testing them with real account has the greater probability of going in loss. Quote Link to comment Share on other sites More sharing options...
flybiz08 Posted March 28, 2012 Share Posted March 28, 2012 Demo accounts are good for both new traders and experienced or professional traders. The usefulness of the demo accounts to the demo account is to help the newbie develop a trading system without losing real money at the end of the day. New traders should endeavor to trade on the demo accounts for nothing less than 6 months. Quote Link to comment Share on other sites More sharing options...
budado Posted April 6, 2012 Share Posted April 6, 2012 Demo accounts are good for both new traders and experienced or professional traders. The usefulness of the demo accounts to the demo account is to help the newbie develop a trading system without losing real money at the end of the day. New traders should endeavor to trade on the demo accounts for nothing less than 6 months. Actually if you are a newbies you don't need to develop a trading system. You adopt it. try to trade and learn it. Practice will make you familiar with that particular trading system. Like for example me. I tried to learn scalping, hedging and naked trade. And the more I practice the more I appreciate them. About six months. In forex trading theirs no time limit. I been trading for six years now and I still do use demo account. Its not how long you trade its how fast you master one strategy. Quote Link to comment Share on other sites More sharing options...
rexway Posted April 6, 2012 Share Posted April 6, 2012 Yes I will say that there is no need to develop a new strategy its just to adopt the existing once and master them all befor going to trad with the real trading account,but if at all a trader want to develop a trading plan he can go ahead and do so but everything should be done on Demo account. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted April 7, 2012 Share Posted April 7, 2012 You've been trading for six years? Wow! Perhaps you can call yourself as an experienced trader. Indeed a Demo account still necessary for every trader, we are like entering a real trade but not trading a real money and will not earn anything. Quote Link to comment Share on other sites More sharing options...
pepy Posted April 8, 2012 Share Posted April 8, 2012 so i think this one is the best way for the beginner to learn more about the forex trading without loss the money in their own pocket, and there are many thing we can learn and also we have some chance to learn some trading tactics that applied by some veteran in their trading Quote Link to comment Share on other sites More sharing options...
monyitomon Posted April 8, 2012 Share Posted April 8, 2012 Yes, everyone knows that this is were all traders start because as we know in real trading it's never that easy especially trading a money so in demo account we will lose nothing but will gain something. Quote Link to comment Share on other sites More sharing options...
rexway Posted April 10, 2012 Share Posted April 10, 2012 but one thing here in Demo account is that most of the Newbie refuse to start with demo account even when they do they dont take the demo trading serious you will even see as a trader open an active trade an leave it open wwithout any attention I was an eye withness of this yesterday which was very bad and such trader can never achive anything positive to himself Quote Link to comment Share on other sites More sharing options...
pepy Posted April 20, 2012 Share Posted April 20, 2012 but one thing here in Demo account is that most of the Newbie refuse to start with demo account even when they do they dont take the demo trading serious you will even see as a trader open an active trade an leave it open wwithout any attention I was an eye withness of this yesterday which was very bad and such trader can never achive anything positive to himself  that is the fact we get here now, but i think for people who forget about demo account cannot maximize their earning in forex, i believe if we can use the demo account and real account well i am sure there are a lot of benefit and many good thing we can get such as more profit. Quote Link to comment Share on other sites More sharing options...
budado Posted April 24, 2012 Share Posted April 24, 2012 You've been trading for six years? Wow! Perhaps you can call yourself as an experienced trader. Indeed a Demo account still necessary for every trader, we are like entering a real trade but not trading a real money and will not earn anything. I been trading for six years and I can say I'm experienced trader. But I can't say that I'm successful trader. lols. In my first three months in forex trading I loss 1,000 dollars. Its a foolish mistake. I trade for two years in stocks before I joined forex so that I thought I don't need to study forex basic as I already know stocks basic trading strategy. But I was wrong. Right now my capital is just 100 dollars in forex and earn 5 to 10 dollars a month. Quote Link to comment Share on other sites More sharing options...
charlly007 Posted April 25, 2012 Share Posted April 25, 2012 Thank you very much for coming up with this post.I have gain another thing about forex trading.I am not gonna start trading forex right now,i think i am gonna depend on using this demo account for now and gain more knowledge first before trading with real money. Quote Link to comment Share on other sites More sharing options...
pepy Posted April 27, 2012 Share Posted April 27, 2012 not trading? lol, you if you used demo account you already trading, so what do you mean by that. but the difference like what we all already talk about above, no money you can gain but still you get some experience from trading and this kind of account suitable for newbie who cannot spend money. Quote Link to comment Share on other sites More sharing options...
Sixteen Posted May 3, 2012 Share Posted May 3, 2012 That means really have to be careful before jumping into real trading. The most part of it is that we need to give out time with our demo account for months inorder to be a good match while trading with real account but the problem is that most of us wants to start earning fast without giving time to develop our skills with a demo account. Quote Link to comment Share on other sites More sharing options...
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