Trading your strategy on DEMO is a waste of time

[santiPOGI]

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

I don't think Demo trading is a waste time dude, because through this We can practice how to earn in the actual trade.
I know what you feel and I understand that, but I think you are giving it a wrong interpretation, it is actually helpful to any newbies
who will enter into trading business.

[cabron]

Demo platforms in cryptocurrency trading didn't exist till later years. If it did I would have tried it as well. But yes if there isn't risk involved you will just not feel the loss in you. $10 however will be just too small to trade. Make it at least $50 that when BTC pump you could at least profit to a dollar or two less than spread. It was advised to me not to start with derivatives unless I learned the spot market well, there is just too much risk on futures market.

[CryptopreneurBrainboss]

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

Demo helps you take off the risk of losing as a beginner, it helps you perfect your trading strategy before you can move to a live account and start implementing all you have learnt then start profiting in no time. You can't take away the importance of demo which is something the cryptocurency industry are yet to understand. Most well reputed exchange don't have demo where noobs can practice but I'm not surprised, they're just interested in the profits they make instead of carrying the community along.

Demos aren't waste of time and most professional today will tell you the same (this doesn't mean I'm one of them though). Demo offers you a platform to test all the crazy ideas in your head without the risk of losing a cent, if you call that waste of time then you need to put your emotions in check because your taste for quick profits could cause you big time. You have to be patience with the process, first you learn then practice before you start live trading.

[Peanutswar]

I think demo trading is not a waste of time if you are absolutely a newbie and you don't have any idea how does trading runs it a big problem you don't know what is buy or sell how to deposit and withdraw, what is the right leverage to your trade. There are different people in terms of trading they learn base on their knowledge and there are people who learned base on their experience it depends on that where you are and benefits from all the information you gained and have. Base on my experience I learned trading because of my experience a big loss, weeks of losing streak well I'm not saying I'm already good in trading but I know how it runs.

[Shasha80]

In my opinion, demo trading is needed by all traders, especially for newbies who need a lot of practice. Demo trading can find out a person's trading
skills without any risk, therefore demo trading is also needed by professional traders to try out some new strategies. If the strategy goes well, it can
be used for real trading. So in conclusion demo trading is not a waste of time, but it is very useful for traders. Unfortunately very few exchanges have
a demo trading feature.

[traderethereum]

Using a demo account will help you understand how trading works while searching for more lessons to be applied to demo trading.
When you can understand the lesson and are confident with your skills, you can start trading in real exchange with real funds.
You can start to buy bitcoin and send it into your account to start trading.
If you still learning from the demo account, you will have a chance to control your emotion because losing your emotion will make you panic.

[tvplus006]

...No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

I did not use demo accounts at the very beginning of my acquaintance with trading, but I still think that it will be useful for a beginner to get acquainted with the work of the exchange using a demo account. It is better to lose money on a demo account than real money due to lack of knowledge. And with one dollar on such an exchange as Binance, it will be impossible to place an order, since the minimum order is 10 dollars.

[orions.belt19]

Yeah, its just not the same in demo trading. The gain or loss doesn't hit you as it does in a live trade. I tried this at first as well and the emotions in actual trading is a lot different. You think to yourself that you're ready and won't be affected but when you actually see all the red and negative on your portfolio you'll really feel yourself sweating. In trading, you just really have to hit the ground running. What's good with demo trading is that it allows you to practice your entries and exits, assess whether you can identify the patterns and eventually familiarize yourself.

[NeuroticFish]

What's good with demo trading is that it allows you to practice your entries and exits, assess whether you can identify the patterns and eventually familiarize yourself.

Demo trading is basically for learning the interface and its capabilities so you don't get surprised by it. That's indeed a rather limited use, still, I would not call it waste of time.
On the other hand, trading is for people who know what they are doing and some may need practicing. I see no harm in that.

even if it is 1$; feel the heat and develop instinctively.

This is imho a bad advice. This would make people believe that trading is some sort of gambling, and it's not.
Trading needs clear mind and good strategy, not instincts, no haste decisions made when one "feels the heat".
One need good thinking, fast hands (or trading bots), and patience.

[Ausgewielt]

Actually there are some people who very careful with their money, trading in DEMO help trader to know whether their strategy is right or false. As a trader we also need to know the difference about trading and gambling. For me trading means that we are trade using right strategy, usually we test it first before we do real trading, while gambling in trading means we trading using strategy that we pretend it as good strategy without analyze data and test.

[cheezcarls]

I respect your opinion, but I honestly think that demo trading is still very useful for those who wants to practice it even in a live market. Most probably newbies and beginners who want to practice first some techniques before swimming with the real sharks (buyers and sellers). Yes, live trading with the amount that you can afford to lose is still the best for you to learn it actually (especially about controlling your emotions if you have lost that kind of amount).

[milewilda]

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

Actually i do agree with this one this is why i never intent to make out some demo trades because it is actually different when you are on the actual trading.The emotion you do felt in demo is really
way too different when you are already on the actual trade where you do trade up your money and you would really be losing it once you do really make out bad trades.It is really giving out that
different feeling but it isnt really bad to make or try demo trades specially for some trial and error or making your analysis but its better to deal with the real one because you would
able to mold up anything comes through experience.

[Sterbens]

Yeah, its just not the same in demo trading. The gain or loss doesn't hit you as it does in a live trade. I tried this at first as well and the emotions in actual trading is a lot different. You think to yourself that you're ready and won't be affected but when you actually see all the red and negative on your portfolio you'll really feel yourself sweating. In trading, you just really have to hit the ground running. What's good with demo trading is that it allows you to practice your entries and exits, assess whether you can identify the patterns and eventually familiarize yourself.

That is one of the disadvantages of Demo trading, so we as traders only make Demo trading one of the introductory methods, and despite the fact it will be very far from real trading. that's not what we need to take from Demo trading, but what we need to take is the system how it works and how to manage buying and selling. that's all, the rest we will be exposed to real movement. regardless of sweat and not when trading. it depends on how strong you are mentally in trading. Because the world of commerce will always have its own way of testing a person's emotional level.

[livingfree]

You have a point with what you're telling.

But that's actually the point of doing demos. You can several strategies on it and whether it's a newbie or experienced one, it's okay to do demos for your strategy.

I get the point of what you say that you can really test yourself and a strategy through live and real money but demos are also a good place to start with.

[mrkfdr]

can you learn driving a car in a simulator ? get a driving license and hit the real world ?

simulator's made for dealing with scenarios,  and no simulator can give you the feeling of loosing or earning real money.

[isaac_clarke22]

I had read a thread that is quite similar to this.
The point was that if you indeed lose your money, you will feel the actual loss when it happens to you.
Unlike when it is only a virtual trade like demo, as you mentioned, you'll less likely to take seriously on what's going on regardless on what strategy you do in your trade.
I guess back then, I didn't made a mistake. I wasn't even aware that there is such thing as demo trade.

[DoublerHunter]

^ It is totally different from demo trading while you are in actual trading, but it does not mean demo trading is useless. In fact, this is very useful when you are new to trading, I mean those newcomers in trading don't understand yet but they want to explore trading. But I agree with the OP, as a trader, should always having their own research and not all the time there is demo trading. Because in trading, not all the time you can able to make money, sometimes you will lose too if you did not have proper research. In trading, there is predator and prey, avoid not become always the prey.

[Ziskinberg]

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

DEMO is made to be simple and easy to understand that attract traders to do trading. But if we are in an actual trading scenario, you will be sweating for sure.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

We need to work hard in order to succeed. And those people who are thinking trading is easy, they will find out when they are in the scene.
Finding the most effective strategy is a big influence that affects the results of our trading. To develop our own masterpiece as a great venture that others can do and that constant practice makes us successful.

[dimonstration]

You have a point with what you're telling.

But that's actually the point of doing demos. You can several strategies on it and whether it's a newbie or experienced one, it's okay to do demos for your strategy.

I get the point of what you say that you can really test yourself and a strategy through live and real money but demos are also a good place to start with.

But we need only to set some period of time to use demos and should have a courage to try it real since that's what the real trading is, that's the only time where we can earn and feel the pressure, when there is pressure, there is a chance that they will work harder to earn and to know how we can strive harder. The presuure will only be in real money and may not be in demos.

[isaac_clarke22]

^ It is totally different from demo trading while you are in actual trading, but it does not mean demo trading is useless. In fact, this is very useful when you are new to trading, I mean those newcomers in trading don't understand yet but they want to explore trading. But I agree with the OP, as a trader, should always having their own research and not all the time there is demo trading. Because in trading, not all the time you can able to make money, sometimes you will lose too if you did not have proper research. In trading, there is predator and prey, avoid not become always the prey.

Agree with your point though within my point.
In conclusion, doing demo trading are for those who aren't familiar yet with the UI.
I had the kind of barricade when I was day trading in Binance. There were a lot of trading tools I could use, and pressing the wrong button could lead to an actual loss for me cause the terminologies are too technical for a newbie to understand, like what is a candlestick and all that.