is Demo account truly a test tool for live account?

[BitMaxz]

That's a part of the process when learning; the demo account won't have much effect on you when you lose live trading with real money. That is the start of how you can handle your emotions. There's one thing that you think you can win a trade once you've made a good multiple winning trade on demo. When you are in live trading, once you experience some losses, there are times that you want revenge and think your next trade will recover your losses, but in my experience, once you do that, you will lose your mind, and you will end up overtrading, which will cost more losses.
I honestly suggest live trading because there's an impact emotionally when trading, but keep it low risk; don't risk too much if you don't want to crash your mindset because if it happens, you might end up the same as when I was before, where I leave my account with open trades that I think will reverse, but the result is all my capital is liquidated. That's my mistake because I was frustrated about not making winning trades before. I learned from that mistake, and now I always keep my trades isolated and take advantage of using SL.

[masulum]

Demo account just a place for you to learn how to use the feature, how to buy, and how to sell. If you are make profit in Demo account, it's can be it programmable to get 80% profit, except the feature using real live prices, it will show you equal with the real accounts. the different between demo account and real account is about emotion and control, using demo account will not making you cry because of lose $1000, but with real account not just waiting for $1000 losing $100 it's mean something big for tou, because it's your money, your saving. that why no need to see losing all of money, seeing our asset drop 10% will trigger panic and cut loss without seeing data and analysis that maybe that coins can reversal.

[bhadz]

Demos are good when you want to avoid the real market. It's also a way to test how your trades will be if you're trying to do some back testing. But hear me out, even if you've done so many demo trades, that doesn't guarantee you to win your next trades. Because of how unpredictable the market is, you'll have hard time in winning it when the current situation is highly volatile. So, if that's probably making others think that they have to do a lot of demos for them to win, it's all about reading the market and analyzing charts for you to get familiarized with it.

[bettercrypto]

the major purpose of these thread is to have a peaceful discussion on peoples experience with jumping into live account after several successful trades on demo and suddenly start making losses after funding and trading with real money, because i have heard people make such complains which also shows that i was not alone in all of that dramas and did anyone experience similar cases and how did you get to manage it ?

Honest experiences will really be appreciated for others to learn from it

I’ve been in the crypto industry for years, but I have never once used a demo account on any exchange. Although I’ve watched tutorials on YouTube showing newbies how to navigate an exchange using them, I've stayed away.

I’ve read and watched others say that there is a huge gap between demo trading and reality. They say a demo account makes you feel like you’ve mastered trading instantly and that profiting is easy. But the moment you deposit actual funds into the exchange, you realize it’s the exact opposite. It’s as if these demo accounts brainwash users into thinking trading is easy even without sufficient knowledge, which is completely wrong.

[Alphakilo]

the major purpose of these thread is to have a peaceful discussion on peoples experience with jumping into live account after several successful trades on demo and suddenly start making losses after funding and trading with real money, because i have heard people make such complains which also shows that i was not alone in all of that dramas and did anyone experience similar cases and how did you get to manage it ?

Honest experiences will really be appreciated for others to learn from it

I’ve been in the crypto industry for years, but I have never once used a demo account on any exchange. Although I’ve watched tutorials on YouTube showing newbies how to navigate an exchange using them, I've stayed away.

I’ve read and watched others say that there is a huge gap between demo trading and reality. They say a demo account makes you feel like you’ve mastered trading instantly and that profiting is easy. But the moment you deposit actual funds into the exchange, you realize it’s the exact opposite. It’s as if these demo accounts brainwash users into thinking trading is easy even without sufficient knowledge, which is completely wrong.

A newbie trader willing to learn the theatrics and intricacies of trading with a starting point of using a demo account does so to know and understand how trading actually works, without losing real money and that's the essence of a demo account as a test tool.
Trading with demo is quite different from trading live I must concur, because my first experience back then using pocket option demo account for testing and trying out the live trading version, didn't go as successful as when I used a demo account to understand how it works.

Some lessons I learned however while doing further research and that I hold dear when I try out any new trading platform is to always use same amount of funds I intend to use on a demo account, also on a live account.
To also use other cent or micro account where you can trade real pennies first, before jumping into a standard account.

The thing with trading is more psychological than logical and that's the essence of a demo account for a great start

[rachael9385]

Running a demo account is indeed a test tool for live account but a lot of people are starting to have ideas about using this tool to automatically make consistent profits from the market. Just because you used a certain strategy that worked when you made use of a demo account it doesn't mean it's going to be the same outcome for a live account, always be careful about this.

[8rch7]

In my opinion, demo account s test tool for the beginner to know more about guide how to learn more step by step trading in cryptocurrency learning more about how to set up buy and sell order until how to use stop loss order. For trading coins is drastically difference exactly about mentality because demo account you don' get any pressure yet although your position loss much but difference when using real account.
Before entering to buy any coins trough real account I believe difference with demo account and most important about the mentality when the market get drop drastically. As the beginner most recommended to use demo account firstly how to know all step when trading in cryptocurrency but you can't get pressure yet trough demo account and difference way when using real account and real fund.

[LogitechMouse]

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Demo account for me is a good way to find the right strategy that works for you because you will not lose any real money from it, but it can help you look for a strategy that could work for you.

However, it will not teach you psychology. What you feel when you're doing demo trading is very different when you do it using real money. The emotions are different, the feelings are different, and that might affect you and your decision making. In demo-trading, you can just be complacent enough to put positions because you will not lose real money. In trading using real money, you can't be complacent because you might get liquidated.

For me, demo account might be useful for somebody, but I didn't use them as well because I don't see any reason why I need to use it. I can just learn by using real money because from there, I might lose some money during the process, but I also learn how to control myself, be discipline enough, be patient enough to wait, and to be better in trading. Something that I don't see in demo trading can give to a trader.

[Yaunfitda]

the major purpose of these thread is to have a peaceful discussion on peoples experience with jumping into live account after several successful trades on demo and suddenly start making losses after funding and trading with real money, because i have heard people make such complains which also shows that i was not alone in all of that dramas and did anyone experience similar cases and how did you get to manage it ?

Honest experiences will really be appreciated for others to learn from it

Still very different when you play with real money, sure there is demo account that you can learn. But in any case real education comes from trading with real money and see how it goes for you. Maybe in the demo account you are full of confident and winning in your trade. However, when you go real live trading, you feel that it's very much different and when you thought that you are going to successful, comes the difficult task of money money and so there could be traders who quit early. As for managing it, it's more on mental game. Just think of it as just a test and see how far you can go. Again, there could be others that will quick the moment they see that it's not easy. But for those who wants to go out of their comfort zone and test it, who knows, maybe trading will be your best for you.

[X-ray]

Certainly putting your money in risk and not is different, but demo account allow you to be familiar with the environment such as simulating real trade, creating buy orders and sell orders.

More than that it's not really authentic feeling. Try to get started with some money, just buy spot and get the hang of it.

Even DCA is vastly different with demo account and real account. You just never get the weight of seeing your money plummeting at dump and see it rise at pump. It's entirely different world of feeling.

[Danica22]

A demo account can help you in principle, just like when new traders start trading, there are many terms that they don't understand. A demo account can be helpful, but it won't improve your trading skills, because there is no pressure, so caution is not a priority. In my opinion, it is better to trade with small amounts of money than a demo account, because with real money it will make traders more serious about improving their skills.

Demo trading does more harm than good. In particular, prolonged misuse of it can create bad habits for trader.

When trading with a demo account, we do not have to deal with the psychological pressure of losing real money. From there, we will develop a careless mindset, poor risk management and it may even create an illusion of our own abilities. That is why most traders experience losses when they switch to using a real account, and they are often shocked.

I also support the idea of ​​using a real account with a small amount of money instead of a demo account to start trading.

[maydna]

Demo trading is for learning before you trade for real. You should know how to get the entry and exit place so you will not lose. But many people underestimate this and directly jump into the real trade. That is not be a big deal actually but they must know how to trade properly so they can avoid to entry in the wrong time. While you are using demo trading, you learn how to analyze and find the pattern so you can enter to the market according your analysis. But it is not easy as it's imagine because you may makes many mistakes following your learning. But that is worth to do and if you feels that you can do real trading, you are ready to enter and feels the real trading.

[Peanutswar]

There is nothing wrong with the use of the demo trading account personally i still using a demo trading when I wanted to try some to try some of the strategy in trading i just recently discovered and if this applicable to my current trading techniques by this yes it consumes time well its part of learning, without demo trading and make an immediate execution in the markt possible you will just burn your money for nothing.

Now if you are confident with your strategy thats the time i tried to the live trading account.

[joniboini]

If someone suspects that their demo account is somehow luckier or whatever, they can also opt to use open-source apps or tools to backtest their strategy. I'm pretty sure we have that stuff for free, assuming you're fine with setting up everything on your own.

Personally, though, setting up a demo platform where users are luckier doesn't make any sense to me since it's very easy to see whether the charts behave like the live environment or not. Might as well offer a promo or discount if getting more traffic is their goal. CMIIW.

[SOKO-DEKE]

the major purpose of these thread is to have a peaceful discussion on peoples experience with jumping into live account after several successful trades on demo and suddenly start making losses after funding and trading with real money, because i have heard people make such complains which also shows that i was not alone in all of that dramas and did anyone experience similar cases and how did you get to manage it ?

Honest experiences will really be appreciated for others to learn from it

Honest, I don’t have any experience about it but I had a friend who first started his trading journey from a demo account and used it to practice for a while before switching to a normal account, where he used real money. When he started trading with real money, the result he got from the demo account was not the same result he was getting from the normal account he used to trade with his real money.

He started complaining that a demo account is simpler than trading with real money but I just concluded that when he was trading with a demo account, he was not always emotional. When he used real money, he started trading with emotion.When someone is trading with a demo account, there is nothing like fear when someone will lose or not. Someone will just take decisions based on analysis, without trying to put fear in it, which can lead them to wrong decision making.

[Jegileman]

the major purpose of these thread is to have a peaceful discussion on peoples experience with jumping into live account after several successful trades on demo and suddenly start making losses after funding and trading with real money, because i have heard people make such complains which also shows that i was not alone in all of that dramas and did anyone experience similar cases and how did you get to manage it ?

Honest experiences will really be appreciated for others to learn from it

Demo is a means of learning before eventually going into live accounts. What you should know about demo account trading is that it shouldn’t be held on too for so long, because when you get too comfortable with it to learn from, moving into live accounts will be very difficult for you. Emotions thrives in live accounts and not in demo accounts. Don’t forget that emotion is a very vital part of the market that needs to be studied and controlled well before you’ll even reach that stage of profitability, so staying in demo mode for too long will affect you moving into live account as your emotions will make you feel like you’re yet to learn anything from the demo account and just starting up all over from live account as the losses will pile up like you can never imagine.

[Mpamaegbu]

Demo account is like driving in a video game. You never get to lose anything. All you do is start afresh once there's a crash. That's why I don't encourage anyone trying their hands on trading to demo trade for more than three months, backtesting whatever strategies they've. Three months consistent testing will achieve that. Whatever strategy that worked for one in demo trading will also work in live trading if only one can kill that trading demon called – Emotion.

Why a lot of people think demo is simulation of the real game is because on demo there's no emotion attached. Real cash isn't involved and for that no emotion is attached. Doesn't that tell us that the major problem traders have isn't even lack of strategy but indiscipline and inability to control their emotions as regards Money Management and lotsizing?

[tygeade]

Sort of? I mean it is not going to be guaranteed, and depends on how you use it. First of all, you need to learn trading and that is not done with live or demo account, that is done with you working towards learning and studying what charts are, and what indicators are, and basically learning about technical analysis in general. Then, you go into demo account and test what you learned, and if you do it that way, then yeah you are using it right away, if you are testing just YOLO style then it's wrong.

Secondly, the moment you start trading live account, market may collapse, like a bear market starts, then even if you were in demo, you would have lost, but since you moved from demo to live at wrong time, you may lose. So all in all, it depends on a few things, but it's definitely better to do it than not do it.

[Pandu Geddon]

because i have heard people make such complains which also shows that i was not alone in all of that dramas and did anyone experience similar cases and how did you get to manage it ?

It is completely normal for traders to incur losses at the beginning of trading. Even when using a demo account, I used to experience losses when trying out several trading strategies that I started to apply. I don't consider demo and real accounts to be different. It's just that sometimes when we trade with real money, we try to be more careful, but end up missing something important, like the use of stop-loss orders, which is often overlooked by beginner traders.

[Rengga Jati]

There are two sides to this, at least for me:
#Positive side:
- Teach me how to trade from the beginning so I can try it multiple times, until I truly understand trading. This prevents us from being too new or completely clueless about crypto trading.
- Much better than being without any insight or experience, just a beginner, and jumping straight into live trading without understanding, which is so risky.

#Contrary side:
- Mental shock
Yes, I'm sure everyone experiences this. Even if we've tried it many times on demo trading, when we switch to live trading with our own money, we will feel more mentally stressed, and this will impact our analysis and decision-making.

#How?
With this condition, it is indeed necessary to do it gradually, the more experience you have, the better it is for you to get used to the trading conditions which are indeed stressful and complex, but you still have to be calculating, by not trading all-in and with high leverage, NO.