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Thread: Demo Accounts

  1. #1
    Rookie Member Mozart's Avatar

    Demo Accounts !!!

    Hi, my name is Michael and I am new to this forum. Also to Binary Options. I am curious about demo accounts. I started an account with Binary Options Demo. My question is do these sites let you play with a demo site and then let you win more times than not so you are jacked and think this is so easy to get you to start trading on their site?

  2. #2
    Rookie Member abby's Avatar
    Hi Michael,

    I also have an account with Binary Options Demo. I don't believe that they let you win more times than not. If you think you have a good strategy then you can test it here on the CommuniTraders Social Trading Platform.

  3. #3
    Administrator Martin Kay's Avatar
    on the contrary.. most brokers don't want you to use a demo because they're afraid you lose.. I also feel like winning on demo is easier. Nevertheless, you can always go ahead and check the asset's price history (you can find it on your broker's website) and when do you so, you'll find it that that's just the price, and you just won, and you should've traded live(: On the emotional side of trading, trading for dummies is always easier than trading for real money. I think brokers have much better methods for getting you deposit lol
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. Thanks Newlifer thanked this post
  5. #4
    Rookie Member Newlifer's Avatar
    I've been using a demo account since January. I think it a lot of it depends on how long you have the demo,your experience and amount. I was able to use all the different aspects of the Communitrader School. In order to be able to do that and test yourself a demo is the way to go. It depends alot on how deep you want to get into it though. I'm here for the duration if I can maintain the downs and control the highs.
    Last edited by Newlifer; 06-17-2015 at 05:27 PM.

  6. #5
    Veteran Member Dan21's Avatar
    Demo trading is important part of education. It is something necessary for every beginner trader to develop as a skill before jumping into real trading. It is a little bit easier because there are no such emotions like in real trading but it is helpful to gain experience and confidence. You need real confidence in your system to move to real one, but don't stay too much on demo because it gives you bad habits. I moved to real trading few months after testing my strategy on demo.

  7. #6
    Rookie Member Newlifer's Avatar
    The demo has given me a chance to learn risk management, a vital part to survive in binaries. Your right those good and bad habits do form, but you have the chance to break and tweak them. I tried different strategies and ended incorporating parts of several to one. The sweaty palms, cold feet, hair trigger mouse, I felt were as close to real trading when I tested everything together and found my weaknesses. Knowing that if I blew my account I'd be done. I opened my trades up to the max. I paid attention in class knowing when to stop!

  8. #7
    Legendry Member willyw's Avatar
    Demo account is for you to train your confidence and to try out different strategies and to correct your mistakes

  9. Thanks Ronnel thanked this post

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