What is your perception to trade demo for gaining money
It will not be wise to go for trading blindfolded at first instance without learning how to trade. To make win situations at most of the time, it is advised to traders to create dummy account on trading platform to learn how market reacts and which strategy will be best in a what condition . After gaining experience in binary trading, a trader can directly enter a live financial market. What do you think about it?
Those I teach learn first to observe the market, detect resistance and support areas, find out what a three EMA system tells them. After that I teach them money management, and only when that is learned, I encourage them to find a demo account to test their skills. This way, they know what they do when they start a live account.
Trading with demo account is beneficial to invest money without any risk.
Yes demo account is beneficial to newbies to enable them learn how to trade, how to place orders to the broker. Demo account also let the newbies test different different trading strategies. but demo account will not benefit them to invest without risk. Forex trading involves risk even after trying out demo accounts traders invest with risk and not without risk.
near me, demo trading is JUST to UNDERSTAND the platform, the trading, the entry exit of trades, and a few basic things... it NEVER EVER teaches you how to trade smart and profitably because ur EMOTIONS are not involved... fear and greed is not there.... flukes work in demo, hence they make u over confident....
As per my view demo is the best of the best tool for gaining money. On the other hand, demo trading is of great importance in the sense that it reduces your levels of risk. It opens up the opportunity for you to come up with a solid binary options trading system without pouring in substantial amounts of real money. People don’t want to risk their real money to learn the pitfalls of trading online. Practice money gives many people to best chance of surviving in this marketplace. If you can succeed on a demo account, you should be able to bring what you learned to the table when trading with real cash.
In general you are right crimson69, if you could trade consistently profitable on demo you could easily translate that in real account. The problem come with the greed you have and it will lead you to take bigger and bigger bets, until you were hurt by some big drawdown. That’s why it is not so easy to make real trading profitable. If you follow strictly your rules trading live you will have no problems to move from demo.