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[SaveOurSea]

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.

beginner traders need a demo account, because there we can minimize losses from studying there,
yes many still don't have this feature, look at Coinbase, Binance and even Bitfinex also don't have a demo account feature,
I hope Binance opens this feature so that beginners can also learn without a risk

[abel1337]

Demo account is not a required thing to do but it is very advisable. I personally think that a demo account is not just to practice you how to trade but it also gauges you on how you will trade in the future. You can develop habits along the way on your demo account and it is bad to develop it using real money on trading. Beginners tend to experiment on trades, finding techniques to improve their trading skills but losses are expected on experimenting, It would be efficient if you experiment first on a demo account and if you find it useful you could apply it into real trading to avoid losses. Also, Controlling your emotion is the first thing to do in demo trading. Even if you have an unlimited amount of money on a demo trading account doesn't mean that you don't care about the results anymore, Remember that you are a beginner and you are there to practice gaining not losing. Putting a good mindset at the beginning will bring you good in the future

[milewilda]

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.

beginner traders need a demo account, because there we can minimize losses from studying there,
yes many still don't have this feature, look at Coinbase, Binance and even Bitfinex also don't have a demo account feature,
I hope Binance opens this feature so that beginners can also learn without a risk

Majority of then doesnt have this demo feature but it would be great if they would be adding one because just like youve said on where it would really
be helpful specially to those who are just starting up to trade on where familiarizing everything from platform use until to trading basics when you
are just starting up but you can eventually learn up things directly even with real trade or deal up with the platform with real money
involved.You would really be more serious since you do know you are risking something unlike on demo trades.

[mamahdedeh]

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.

beginner traders need a demo account, because there we can minimize losses from studying there,
yes many still don't have this feature, look at Coinbase, Binance and even Bitfinex also don't have a demo account feature,
I hope Binance opens this feature so that beginners can also learn without a risk

but keep in mind, demo trading with real trading is very different. Of course the psychological pressure. no matter how good the technique is, but weak in psychology, of course it will be destroyed in this business. therefore we must understand the benefits of demo trading

[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.

beginner traders need a demo account, because there we can minimize losses from studying there,
yes many still don't have this feature, look at Coinbase, Binance and even Bitfinex also don't have a demo account feature,
I hope Binance opens this feature so that beginners can also learn without a risk

That's what I said in my post, demo accounts help beginners. Demo account is basically a sandbox for beginners to make some experiments that will be pretty stupid in real trading to learn the mistakes. Also, it's not even minimized loss because there is no loss.

[tvplus006]

...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.

Long-term trading can be profitable only if you correctly determine the direction of the market movement. Otherwise, you can turn from a trader to a holder for a long time, which can be calculated in years. If you do not need to regularly withdraw funds from your crypto wallet to meet your needs, then long-term trading will be more attractive.

[goldade]

In my opinion, I believe it is very important and necessary to practice trading with a demo account as a new trader. You get to explore strategies without the risk of losing any money. You can test strategies and know which works best for you.
However, it would be unwise for a trader to believe demo trading is all there is to trading. I believe it's necessary to also practice trading with some amount of money one can afford to lose. That way, one would be under the pressure of losing money and that would prevent one from making unnecessary and irrational trading decisions.

[Silberman]

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.

But I think the question here is if those people that actually became successful did learn something from using a demo account that they would not have learned otherwise by using a real account with a very small amount of capital? And personally I have doubts this is the case as those people would have learned the same lesson with their small accounts while those that used demo accounts and failed would have learned more by using an account with a small amount of capital as they would have learned a lot sooner about money management skills, after all no one likes to lose money even if the amount is small, but instead they left the problem unattended because they did not care about their fake losses.

[jaberwock]

So a demo is not enough , you still have to work hard and learn technical analysis to be able to trade well.

Why did you even decide that for successful trading you need to study technical analysis? This is not the first time I have met such a statement on the forum. I get the feeling that people see in all these bars and indicators on the charts a common truth, without which success cannot be achieved.

No matter how it is. I know many people (I am also one of these people) who do not use technical analysis at all, but only use graphical analysis. For example, I only need to see levels on a 1D chart. And that's all. No moving averages and other nonsense, which, in my opinion, only clutters up the chart, I don't need it. I have been trading this way for the 4th year already.

Technical analysis is just one form of analysis, and no one needs to study it to be successful in trading.

You do not "have to" have it, you should have it, there is a big difference. Just because you do not know and still made profit doesn't mean that people who know it do not make a profit neither, there are tons of people who made a profit using TA, this doesn't mean it is the only way, it just means it is a good way to make a profit. I in no way mean that if you do not know TA there is no way to make a profit, luck is the biggest part of making profit, that has always been the truth and will always stay to be the truth, without luck you can't make any profit at all no matter if you use TA or do not use TA.

However knowing it and seeing what the market is doing is a great help, most people who profit without TA just guesses the same thing, whereas people who know TA sees it, that is a big power to have. However we all could be wrong with just one tweet from Elon so it doesn't really matter.

[Peanutswar]

I just give my thought too, in demo trading the newbies are just giving an insight into what is in the trading and what is the scenario how it comes just the basic of each component it's just all about that. The real trading will just happen once they made risk to this trade. In demo trading, they don't afraid of how much demo balance they deposit and if they lose it's ok it's just demoed money if they win thinks it's just they easy as that. If they make real trading each time and decision they made it's all about the risk to win or to lose.

That's why for me Demo trading just for an insight into the functions is a help. If a trader wants to experience a real deal make a risk of your money.

[citywise2]

.. 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.

While I share most of your point of view on learning to trade with demo account, however. they nonetheless remain kind of a laboratories both for newbies, as well as experienced traders. Point is. every business has its secret, in trading it's neither exclusive with learning with demo or live account. but the wealth of knowledge one ends up with. And interestingly. it's also a possibility to also demo trade a live account by paper trading it.

[Ryker1]

.. 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.

While I share most of your point of view on learning to trade with demo account, however. they nonetheless remain kind of a laboratories both for newbies, as well as experienced traders. Point is. every business has its secret, in trading it's neither exclusive with learning with demo or live account. but the wealth of knowledge one ends up with. And interestingly. it's also a possibility to also demo trade a live account by paper trading it.

Well at least, on the demo account you have been familiarized with the techniques and movement in trading and for me, demo trading still an important step for a newbie before you will be going to the actual market. After the demo, you can start with a small amount, but of course, it does not mean you will also copy the strategy on demo trading, it should be your experience in the market and the real experience is to try with a small amount. I believed in trading that practice is the best option to become successful but of course with knowledge though.

[sulendra12]

I do feel Demo account is fine if you want to know how trading works. How charts works, draw your prediction, testing out indicators, etc.

BUT
Like you said, it doesn't help you to learn when you do real trading. There is no such thing as managing your emotion, money management, fundamental analysis, liquidity etc.
It's true that if you want to learn, you can just spend small deposit into your account and work with it. It's much better than using demo account.

It works like internship, where you learn the way it works but it pays you nothing because you don't do it in real cases.

[Hypnosis00]

I do feel Demo account is fine if you want to know how trading works. How charts works, draw your prediction, testing out indicators, etc.

BUT
Like you said, it doesn't help you to learn when you do real trading. There is no such thing as managing your emotion, money management, fundamental analysis, liquidity etc.
It's true that if you want to learn, you can just spend small deposit into your account and work with it. It's much better than using demo account.

It works like internship, where you learn the way it works but it pays you nothing because you don't do it in real cases.

A demo account is very helpful when you are new to trading, I actually did this before but it has a huge difference when you are in real trading and when you are using real money. Because in this stage, there is something we created emotions and that most people got wrecked for they can't control it. But, you were able to survive this challenge, you'll be reaching your goal and succeed.

TA's and FA's can't learn instantly but as we continue trading, we are also enhancing our self to understand that market trend and able to reach the chart leading to create good analysis.

[Yatsan]

I think it will be beneficial if beginners will have demo account before doing actual trading to somehow assess himself on the knowledge and capacity he have if he will surpass and survive the volatile market and make profit from it. By this, they are somehow seeing a simulation of events on how does actual trading looks like to see by himself on what does he lack so he can make improvement from such weakness you currently have.

[tygeade]

I believe it is very important and necessary to practice trading with a demo account as a new trader. You get to explore strategies without the risk of losing any money. You can test strategies and know which works best for you.

Yes, one should acquire basic trading knowledge via demo trading accounts which helps in reading charts, how to implement indicators and you can also test various signal providers and make a list of good ones and later use them when you trade.

it would be unwise for a trader to believe demo trading is all there is to trading. I believe it's necessary to also practice trading with some amount of money one can afford to lose. That way, one would be under the pressure of losing money and that would prevent one from making unnecessary and irrational trading decisions.

Demo trading accounts are just meant to teach you various features like stop loss but you need to trade with money to acquire skills like how to avoid panicking. One should learn with demo trading accounts and once they feel they are ready for trading, start with 1% of your actual capital and see how it goes for a few weeks at least. Once you are regularly profiting and feel capital is lacking, it's time to GO!

[enawati]

Yes the psychological level when trading on a demo account and on a real account is very different, so if we want to learn margin trading, first it is better for just a few days do it on a demo account, then go straight to a real account with a small deposit on a micro account. And micro accounts available on several forex brokers, such as FX OPEN. The first important thing in trading, is to use the transaction lot according to the trading balance, like only using a stop loss of 1% of the total balance, so that if we lose consecutively in 5-7 trades, then we only lose 5%-7% of the balance, and this will not make affect for trading psychology and we can trade again without bad psychological conditions.

[cheezcarls]

In my own opinion, this is suitable for those who are still afraid in taking small risks even for just a few bucks. It’s kinda a training ground for them in getting familiar on how volatile the market is when they are going to use the demo funds in the trading simulator or so. It’s still helpful though for them though, but it’s way better to do actual trading with our real funds.

[blackened515]

Absolutely yes, it's very necessary and important for a beginner to practice demo before tackling real trades, the demo account builds so many things in the newbies, anxiety, fear, and many negative psychology are what demo account helps, most of the advance traders today started from using demo account and it helps a lot in building your mentally, trading is not things of the weak because it had led to so many suicidal occurrence.

[michellee]

A demo account will not be a problem for a beginner trader because that can help them know what trading is and learn about the command to trade. If they can learn more from many sources, they can learn directly from the demo account to know how to trade and when they use the real account in the exchange, they will have more chances to make a profit. It can help them to try many strategies to trade before they use their own money to trade. If they can improve their skills in the demo account, they can prevent the loss because they can improve their strategy with the current situations in the market.