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[semobo]

The name itself have the reason why it is here, demo account so its actually to know how things works like a tutorial guide we see on every electronic items we buy but its actually useless though because 99% of the people are not going to read them since they have basic knowledge about how that system works.

Trading on a demo account is waste of time, its better to try with very small money so that you can experience the actual pressure and emotional while involved in trading.

Trading on demo is not a waste of time for a newbie, this strategy can save them from losing even those small money.
I'd rather trade on Demo than to deposit my capital right away, that's too risky for a newbie. DEMO account are for those who are still not familiar with the platform and in trading but want to experience the market on real time, this is your choice anyway and no one forces you to use DEMO account.

But do you think a newbie is going to be very serious with his strategy while doing trading on a demo account?

Even if he do there is not going to be any rewards for them so they won't do it or they won't learn anything. The purpose of the demo trading is to get familiar with the trading platforms and its interface.

[Ararbermas]

Having a demo account when you dont have any experience in such thing is actually a good idea to practise your skills in trading. Wherein it can help you to obtain knowledge and strategy.. This is highly recommended to be honest and indeed we should very grateful to have this kind of thing which very useful for all who wants to learn in trading..

[xSkylarx]

Demo account doesn't teach you to become a good trader and most often this demo account make their customer good at it so they get too confident when doing it live. I've never tried a demo account before, I prefer doing it on a live platform because you will really know how much you can lose. You won't feel anything if you lose in a demo account because it is not your money. Plus it is not bad to experience failure when trading as long as we learned from it, of course we should just use a small amount of money when practicing to become a trader.

[andriarto]

Demo account doesn't teach you to become a good trader and most often this demo account make their customer good at it so they get too confident when doing it live. I've never tried a demo account before, I prefer doing it on a live platform because you will really know how much you can lose. You won't feel anything if you lose in a demo account because it is not your money. Plus it is not bad to experience failure when trading as long as we learned from it, of course we should just use a small amount of money when practicing to become a trader.

I agree. demo accounts do not educate us in terms of trading psychology. we will find it easy to analyze on a demo account, but it's different if we try on a real account, psychological pressure is certainly there. whereas psychologically, in my opinion, the most decisive thing in the success of a trading

[conected]

The name itself have the reason why it is here, demo account so its actually to know how things works like a tutorial guide we see on every electronic items we buy but its actually useless though because 99% of the people are not going to read them since they have basic knowledge about how that system works.

Trading on a demo account is waste of time, its better to try with very small money so that you can experience the actual pressure and emotional while involved in trading.

Trading on demo is not a waste of time for a newbie, this strategy can save them from losing even those small money.
I'd rather trade on Demo than to deposit my capital right away, that's too risky for a newbie. DEMO account are for those who are still not familiar with the platform and in trading but want to experience the market on real time, this is your choice anyway and no one forces you to use DEMO account.

- Losses are something newbies will soon need to face directly in the trading market, the use of demo account is not necessary for such escapes, you become a trader and you need to mature in the fastest way, living in a demo only makes it difficult for you to face reality and fail. Speaking of trying to get used to the platform, lots of tutorials are available on many online sites, youtube also has a lot of such videos, deposit some money in main account and start fighting is the way we should learn, demo is not so suitable in crypto

[el kaka22]

Losses are something newbies will soon need to face directly in the trading market, the use of demo account is not necessary for such escapes, you become a trader and you need to mature in the fastest way, living in a demo only makes it difficult for you to face reality and fail. Speaking of trying to get used to the platform, lots of tutorials are available on many online sites, youtube also has a lot of such videos, deposit some money in main account and start fighting is the way we should learn, demo is not so suitable in crypto

Without making losses you are not going to be a good trader, every single trader makes a loss and then make a profit that's the type of thing that makes you better in the end. I do not understand why this new generation is so caught up about making a loss, they cry about it and some of them panic sells and leaves the market completely and keeps whining about how bitcoin is a scam and so forth.

The real trader and the actual smart person would end up with rolling up themselves and keep working and work to make that money back, there is really nothing else you can do, everything else is just bs, you just go back out there and work day and night and make that money back. If you are not sure about your psychology and if you are not sure about your emotions, simply just do not trade? I mean I have most of my money in long term investment as well, go do that.

[gabbie2010]

The best approach for a noob in trading is to start with some small bucks, I quite agreed with the OP on that idea, there isn't any emotion in demo trading you just pull the trigger at will not mindful of the outcome of the trade.
Personally I started live trading in Binance with some bucks navigating from spot to cross margin trading just to get feel of live trading and to control my emotions of course I incurred some losses and made some profits as well and tried to correct my failed trades presently I don't entertain any fear in trading while following my strategy strictly with money management.

[Silberman]

- As a construction of your money management and risk management. I often read posts on this forum with the following content: .... on a demo account, you can trade without fear, you still won't lose anything, because you can start over and train every time. But what will you train there? The ability to start over? Undoubtedly, exchanges love such traders. But that won't work for you. It is precisely that on a demo account with a similar approach, you will not develop anything, nor any risk or money management you will master there.

As is often the case. A person makes deals on a demo account, loses, starts over, wins something, and then loses, then wins again, and so on. And such a thought is born in his head that well, this is not real money, so here you can try everything. But when I put real money on the exchange, everything will be different. I will be more attentive and conscious of my dealings, everything will be different. No matter how it is. This is nothing more than self-deception. In the real market, there will be exactly the same thoughtless entering and exiting trades. Nothing will change. Because you teach yourself this approach to trading. There are no risks, no money on the exchange, everything is conditional, so nothing stops you just clicking on the BUY\SELL buttons.

I have been against demo accounts precisely because of this reason, the most important skill as a trader or investor is not a great ability to predict the markets but money management skills, and this is something which cannot be learned by using a demo account, after all a paper loss of 10% is nothing, an actual loss of 10% will be incredibly painful for most newbie traders to the point they will make even more mistakes in order to get that money back, so it is imperative that those which really want to learn how to trade use real money in order to do so.

[nelson4lov]

The best approach for a noob in trading is to start with some small bucks, I quite agreed with the OP on that idea, there isn't any emotion in demo trading you just pull the trigger at will not mindful of the outcome of the trade.
Personally I started live trading in Binance with some bucks navigating from spot to cross margin trading just to get feel of live trading and to control my emotions of course I incurred some losses and made some profits as well and tried to correct my failed trades presently I don't entertain any fear in trading while following my strategy strictly with money management.

In my opinion, whether or not one should try out demo account trading for practicing trading ultimately depends on the trader. I know of traders that started their trading careers by learning about trading then leveled up by using a demo account for practicing everything they've learnt and they did well in the long run. I've also seen traders who after trying out demo trading ended up having a terrible trading career. Every single one of us is different so the fact that demo account don't work for one, doesn't mean it won't work for another. The points made by @Ratimov are all valid points. I'm not trying to dispute that.

[Mahanton]

The best approach for a noob in trading is to start with some small bucks, I quite agreed with the OP on that idea, there isn't any emotion in demo trading you just pull the trigger at will not mindful of the outcome of the trade.
Personally I started live trading in Binance with some bucks navigating from spot to cross margin trading just to get feel of live trading and to control my emotions of course I incurred some losses and made some profits as well and tried to correct my failed trades presently I don't entertain any fear in trading while following my strategy strictly with money management.

In my opinion, whether or not one should try out demo account trading for practicing trading ultimately depends on the trader. I know of traders that started their trading careers

You have nothing to lose if you try Demo account so I think this is way better than to start small already, you can do that later on if you already familiar with the platform. If you’re in a hurry then its your choice to take the risk right away, I personally started my trading career using Demo as well, its not necessary but its a precaution for me before taking huge risk in trading.

Familiarize while you still can because going directly on trading without even you knowing even with the basics will really be that hard even though the amount would be small but its still money.
I havent tried on demo trading because i do directly make out some small deposit and familiarize those terms in youtube and other write ups which you can found in the net which is really helpful.
This is why do your own research as things you do need to read up can really be found online.Its up to someone on putting up efforts on how to learn things.
Its not necessary but not really a bad start up for you to deal on first.

[jaberwock]

At the beginning of your trading career, you will always lose. This is the law. Whatever results you show in theory, but in practice you will lose money, learn, then lose money again, then learn from mistakes again, and after a certain period of time (this period is different for everyone), you may learn to make money.

Yeah, demo accounts trading are not going to make you become a professional and trade with steady profit. The way I understand demo accounts is that they are just there to help you know how trading works; helping you to understand the basic things. That's why you can be trading on demo and winning ,and when you finally start real trading you will start losing. That's to show the demo trading doesn't automatically make you a pro, you still need some serious lessons to be able to pass. So a demo is not enough , you still have to work hard and learn technical analysis to be able to trade well.

[iv4n]

...
And it is better to learn and lose $1-10 bucks in the real market than to learn to trade on a demo account, and then go to the real market and lose a much larger amount there. I would choose the first option.Learn to trade only on the real market, because a demo account teaches you false skills or does not instill them at all.
...

I guess demo versions can be good for complete newbies, who don't know anything about trading and wish to learn some basics, without risking any money! But without the real risk learning process is slower, you don't get hurt when you make a mistake, and you don't get a reward when you do something good! Both reward and punishment are making a learning process more effective.

I agree that a demo account can create some false feelings, and that can become a big problem once a person decides to invest money and try trading! It will be like they know everything, they make money in a demo and it will be easy to make money in real trading... false self-confidence is worse than ignorance, it can lead you to huge problems!

[feelideb]

I have used demo account in forex trading before but I am yet to come accross demo for bitcoin trading! It important to get familiarized with trading in general in an atmosphere of low to no pressure! Demo trading kost often time construe as a skill learning excercise of which I do jot agree with! The live trading however is totally different and come with risk that could be grave! The bottom line is to practice until you know what you are doing and then, you will becreaping the reward of your effort!

[wahyu wida]

I have used demo account in forex trading before but I am yet to come accross demo for bitcoin trading! It important to get familiarized with trading in general in an atmosphere of low to no pressure! Demo trading kost often time construe as a skill learning excercise of which I do jot agree with! The live trading however is totally different and come with risk that could be grave! The bottom line is to practice until you know what you are doing and then, you will becreaping the reward of your effort!

demo can only practice our trading techniques, but this is certainly different if we are trading real, there will be a lot of pressure in a complex way, of course psychology is the most pressing thing in this business. so don't be surprised if we already feel proficient in demo trading, but we have difficulties when trading real, because the two things are very different

[Untomabur]

of course very useful, demo accounts can be used to train new users, or amateur traders,
yes demo account are really very useful, but only some exchanges provide demo features in crypto trading,
Unfortunately Binance, Bitfinex and Huobi don't have this feature

[isaac_clarke22]

~

Now that TAs are mentioned, I recall back when I was day trading I only learned certain TA tools like Bollinger Band along with RSI.
I cannot quite pinpoint already how did I use it but it helped me as a beginner in my day trading back.
Too bad that I switched back into long-term already.

[Fatunad]

Too bad that I switched back into long-term already.

Why is too bad? You have absolutely rightly evolved from a day trader to a long-term trader/investor. And that's okay. Personally, I think this is how it should be.

Everyday trading is very exhausting, both physically and mentally. Constant trading is very rarely profitable in the long term. Therefore, it is normal for a trader to move away from such exhausting trading for something longer over time. Medium-term or long-term trade. Also, do not forget that it is on long-term trading that much more profit is obtained, and there are fewer risks, since you do not enter dozens and hundreds of trades all the time.

You are right and also we do have all the control on what are the things we've been dealing with.It doesn't really matter if we do switch up between position neither a short term or long term as long you do know on what you are doing then that's important. Active trading is really exhausting and I do able to experience it out
and decided to make some swing trades instead since I don't have that enough time to make out preparations or analysis on dealing with the market.
Asking out if demo trades are suggested or recommended then I can say yes and for the sake of familiarity of the platform since majority of them
would really be just the same.

[GreatArkansas]

Demo account for exchanges are extremely good, I don't find any bad sides of it or negative at all besides the trading volume compared to the real market (this is already given).

Additionally, what's on my thought is the emotion will become different if a trader knows that he/she is trading on the demo account for sure. This time, a trader on a demo account could be more greedy since that money is not real, so this could be also handled if you are using a demo account.
You should start practicing risk management at the demo account so if you are already in the real market, you are already prepared.

[Kong Hey Pakboy]

I think a demo account is actually good for a beginner trader because as you have said, there's no major obstacle which means that a beginner can purposely make big mistakes and learn from it without the worry of having to lose a lot of money.

[SquallLeonhart]

I would say it is necessary, it is not a must, it is not a forced thing, it is definitely not going to end up losing you money and you will become a good trader without it if you are sure what you are doing is the right way.

However if you do that, you are going to be better so why not do it? I mean if you can test yourself on a demo and then fail, you know that you need to study a lot harder, and that is going to be something very valuable. Why throw that away when you can just keep doing it? That is why I am not so sure about what to do, I want to say that demo is not a must and I said that but when something is so great to help you, I would say it is a "psychological" must? I have done it when I first started stock trading in 2010 and I am still using the same account and doing the same demo there, because why not? It is a fun game while being a good lesson.