Forex How will trading be like without a demo account?

[Victorial]

Have you ever thought of that? How would it be like if there were no demo accounts for practicing? Would you still consider trading at all? As you read through, find answers to these questions.

Forex trading has become one of the best ways to financial freedom. Many are learning the art of trading while many have become a full time traders. I am still learning how to trade forex properly but I am not a novice either. It requires time and dedication to make it work. Some spend an entire day in front of charts while some like to enter and exit a profitable trade.

Still, all of this is made possible with a demo account. A Demo account is used to increase and test your skills. For example, you just learn about the use of an indicator or a candlestick pattern, going to a live account immediately will be a disaster. A demo account can be created for free with fake or real names and you get to choose the leverage of your choice.

Or you just got to hear about a good broker. The only way to test the broker is to open a demo account with the broker. Share your thoughts

 

[Jasz]

A Demo account is actually a good way to learn how to trade, but without a demo account, as disastrous as it may look, there can be positive returns. Trading is a big risk! and a big risk sometimes comes with great reward. When you trade on a demo account, you are willing to take the risk, you have a clear head, therefore make the right decision, but on a real account, you tend to hold back, you are not willing to take such big risk so you end up making little or no profit.

 

[Victorial]

A Demo account is actually a good way to learn how to trade, but without a demo account, as disastrous as it may look, there can be positive returns. Trading is a big risk! and a big risk sometimes comes with great reward. When you trade on a demo account, you are willing to take the risk, you have a clear head, therefore make the right decision, but on a real account, you tend to hold back, you are not willing to take such big risk so you end up making little or no profit.

I agree with you. There may be positive but it is not guaranteed. The number of people who are testing now will be fewer than those that will be trading without a demo account. I do not think I can even trade without a demo account or get as far as I am in trading. It is just too risky to venture into without the proper knowledge. It doesn't worth it like that.

 

[Jasz]

I agree with you. There may be positive but it is not guaranteed. The number of people who are testing now will be fewer than those that will be trading without a demo account. I do not think I can even trade without a demo account or get as far as I am in trading. It is just too risky to venture into without the proper knowledge. It doesn't worth it like that.

Let me ask you "what if there is no demo account?" Dear! You will still trade. After reading those PDFs , watching videos and what have you. We use demo acct because it was introduced alongside....

 

[JoeSeki]

Sometimes I do ponder over it. I don’t understand how these traders used to get the courage to invest their money in trading decades ago when there were no demo accounts or online platforms to practice. Demo accounts are a great tool to test your own knowledge and understand whether you can trade well or not. However, without practicing on demo accounts, you are setting yourself up for a bigger risk. I know that paper trading was there but I think it’s not as good as demo accounts.

 

[Zonked]

Trading without a demo account will be hard because with it, you can test strategies without risking any money. This is the most common reason why people want to open a demo account first so that they can try it before they buy.

 

[Critomancy]

The purpose of a demo account is to help you create strategies and develop trading skills. They are very helpful, but traders trade on demo accounts without taking care of the risk and money. Even there are no emotions involved in demo trading. As a result, traders rely on them because they are risk-free.

But in the live account you become conscious about all the factors. Demo accounts are a bonus feature today, but if they weren’t there, traders would still trade today. And they would trade with the right mindset from the very beginning.

 

[destinyrim]

How would swimming in a deep sea be without first learning to swim in a pool.
Demo accounts help us to understand the basics of trading without which we would only end up blowing our accounts.

 

[Setho]

I believe that there are so many things that you will have to learn first of all before exposing yourself to using your own normal funds or trying to plan out your own strategies that you have observed from the market without first experimenting with. Reading can still go on even without using a demo account but then you are going to be taking a lot of losses and in the case of experimentation you are going to be losing a lot of money first of all before you are going to get it right and to be honest that is not fair .

 

[Sotherefore]

A lot of people are even believing that a demo account was made to help an individual to understand how to trade , but this is not the reason why a demo account was created , trading a demo account only won't really give you a successful trade because you will still needs to learn and understand the required strategy to trade.

I know a lot of people who didn't have an understanding of how to trade cryptocurrency but because they are really serious to learn about cryptocurrency trading they have dedicating so much of their time to learn and understand everything, based on their understanding they are able to trade a live market profitably without even going through a demo trading

What I am trying to say is that a trader can still be able to succeed perfectly in trading of forex or cryptocurrency even without the use of demo accounts provided you understand how to predict the market on your own or you allowed an expert to do it for you.

Some people who are actually so sceptical about their acquired skill are those people that can test their skill with a demo account to really understand how to trade it

 

[eldavis]

I believe trade would still go on, though there are lots of persons making use of a demo account, but there are still people who do not use their demo account.there would be high increase of losses compared to now though, as there would be no place to try out new strategies before putting it to test in the forex love market.

 

[tetramorium]

Without a demo account, you will not be able to get an idea of how the markets work. A demo account is very beneficial in that you can learn without using actual money and putting stress on your bank account.

 

[Thanosis]

A lot of people won’t be able to enter because of the fear that they could lose money without trying forex on a demo account where they would know that the actual control of their money is in their hands.

 

[Chlamys]

Without a demo account, newbies would be losing their money in the market without even getting an idea of what is happening. By the time, they get to know what went wrong; they would have lost hundreds or thousands of dollars expecting their luck to work.

 

[Ponmo]

It’s hard to even think of that when we know that demo accounts are the first step towards real trading. They are a free tool that introduces you to the market and helps you practice strategies using virtual money. Overlooking them and jumping in the live market straightaway can prove costly to you financially.

 

[CrozeGrog]

A demo account is a perfect place for new traders to become familiarised with forex trading. They can find out how a trading platform looks and works. Using demo accounts, traders can develop trading strategies, which can then be implemented during live trading.