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Demo Account Will Not Make You a PRO TRADER Hey traders, In this article, we will discuss demo account trading . We will discuss its importance for newbie traders and its flaws. ➕ Pros: Demo account is the best tool to get familiar with the financial markets . It gives you instant access to hundreds of different financial instruments. With a demo account, you can learn how the trading terminal works . You can execute the trading orders freely and get familiar with its types. You can get acquainted with leverage, spreads and volatility. Trading on paper money, you do not incur any risks , while you can see the real impact of your actions on your account balance. Demo account is the best instrument for developing and testing a trading strategy , not risking any penny. The absence of risk makes demo trading absolutely stress-free. ➖ Cons: The incurred losses have no real impact , not causing real emotions and pressure, which you always experience trading on a real account. Your performance (positive or negative) does not influence your future decisions. Real market conditions are tougher. Demo accounts execute the orders a bit differently than the real ones. That is clearly felt during the moments of high volatility, with the order slippage occurring less often and trade execution being longer. Trading with paper money allows you to trade with the sums being unaffordable in a real life, misrepresenting your real potential gains and providing a false confidence in success. Even though we spotted multiple negative elements of demo trading, I want you to realize that it still remains the essential part of your trading journey and one of the main training tools. You should spend as much time on demo trading as you need to build confidence in your actions, only then you can gradually switch to real account trading.
OANDA:XAUUSDEducation
by VasilyTrader
1
Learn Pros & Cons of Trading on Demo Account Hey traders, In this article, we will discuss demo account trading. We will discuss its importance for newbie traders and its flaws. ➕Pros: Demo account is the best tool to get familiar with the financial markets. It gives you instant access to hundreds of different financial instruments. With a demo account, you can learn how the trading terminal works. You can execute the trading orders freely and get familiar with its types. You can get acquainted with leverage, spreads and volatility. Trading on paper money, you do not incur any risks, while you can see the real impact of your actions on your account balance. Demo account is the best instrument for developing and testing a trading strategy, not risking any penny. The absence of risk makes demo trading absolutely stress-free. ➖Cons: The incurred losses have no real impact, not causing real emotions and pressure, which you always experience trading on a real account. Your performance (positive or negative) does not influence your future decisions. Real market conditions are tougher. Demo accounts execute the orders a bit differently than the real ones. That is clearly felt during the moments of high volatility, with the order slippage occurring less often and trade execution being longer. Trading with paper money allows you to trade with the sums being unaffordable in a real life, misrepresenting your real potential gains and providing a false confidence in success. Even though we spotted multiple negative elements of demo trading, I want you to realize that it still remains the essential part of your trading journey and one of the main training tools. You should spend as much time on demo trading as you need to build confidence in your actions, only then you can gradually switch to real account trading. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
3
Trading on a demo accountHello everyone! Today I want to discuss a topic that worries everyone: to trade or not to trade on a demo account. The demo account itself is a useful tool, but it also has a couple of disadvantages. Let's deal with everything in order. Advantages of a demo account Perhaps the most important plus is that you do not need to deposit your money into the account. The demo account is created for training, and you can use it for free! There are no risks and you will not lose your money. The ability to test your strategies. Thanks to a demo account, you can try to trade your strategy in real time on a real market and understand whether it works or not and whether you are able to follow the rules. The experience is priceless, and you can get it thanks to a demo account. You can open demo accounts as much as you want and trade all day long, filling your hand on the real market. Thanks to the demo account, you can try all the free indicators and understand which ones are suitable for you and which ones do not work at all. Disadvantages of a demo account Perhaps the most important disadvantage is that you will definitely behave differently than on a real account. Psychology is not to do anywhere and when trading for real money, you will immediately notice it. There is no tension on demo accounts, because you will not lose your money, but as soon as the question concerns your real money, you lose your head. In addition, transactions are executed instantly on a demo account, this is not always possible on a real account, because there is slippage. Because of this, strategies that were profitable on a demo account may be unprofitable on a real one. On demo accounts, traders choose the maximum deposit and trade the maximum lots . With an infinite deposit, it's hard to lose all the money. In real trading, the account is usually always smaller and therefore you need to trade a smaller lot, which is not so easy. Spread. A narrow spread on a demo account is a feature of brokers trying to attract as many clients as possible. In real trading, this parameter will be wider. The number of transactions. On demo accounts, traders tend to execute a much larger number of orders than they actually need. This habit is transferred to real money. But it is much more important to approach the evaluation of each transaction carefully and chase not the number of orders, but their quality. Conclusion A demo account is certainly a very useful tool for a trader. But you need to approach the matter wisely and understand the difference between a demo and a real account. Practice trading on a demo account the same way as if you were managing real money and then the benefits will be much greater. Good luck! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
10