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Importance Of Demo Account

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Currently I'm testing straddle trading with two demo accounts at Hotforex, NFP has shown that with low slippage its possible to almost double one of the demo account wiping out second one. I wonder if I take Supercharged 100% bonus from HF on two real accounts will I be able to trade NFP with them successfully?

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I think importance of demo account will be known to one who is eager to learn, but if we are not learning or interested in that then we will never understand the value of demo account, so we definitely need to determined and passionate about learning, it is the only way we are going to find it possible. I don’t usually prefer demo account given I find it boring, but I do love to learn and that’s what I do with OctaFX broker’s support with their awesome Southampton Supreme demo contest, it is too good with just been 90 minutes while there are huge prizes up to 400 dollars plus additional 10 dollars each time we complete the goal which means doubling the equity.

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I think importance of demo account will be known to one who is eager to learn, but if we are not learning or interested in that then we will never understand the value of demo account, so we definitely need to determined and passionate about learning, it is the only way we are going to find it possible.

In demo account, we will see who are strong enough to stay learning in forex trading, their dedication is tested during their training session in demo account...

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  • 3 weeks later...

with use demo account trader can start to learn about forex trading, and i think its very important for any trader to do before do real forex trading. even they face with lose they will not feel the risk, because they trader with a virtual money.

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anything u need before do real forex trading is demo account, because with demo account u can get many experience by do it with no risk. just dont think about profit, because preparation is very important before u do real forex trading.

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  • 2 weeks later...

Demo is important for practice and creating methods that we can carry to real account, we got no other choice. We could be greedy with directly trying things in real, but then we have to be prepared for it if things go wrong. It is not something many can do due to money issues, so the best way is to be good at practicing. I can understand this been highly boring, but now days we don’t need to use simple demo, I don’t use it either, as I prefer working with OctaFX broker on their Southampton Supreme demo contest, it is latest with huge prize to be won, so that’s why I like it very much and saves me from getting bored.

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Demo accounts are very useful to train our trading skills, both good strategy and good money management without risking our money, while the real account in addition to train our trading skills both good strategy and good money management are also trained in psychology or emotions when trading, even if it means risking our own money but we get a psychological training that we need to be successful in trading.
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I think the demo account only suitable strategy to gain experience that will be applied in a real account. better rest directly on a real account to train mentally and emotionally. for beginners this is a mistake that often occurs when the demo account successfully but in a real account is different. once he fails it will tend to lose in the long term.
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I don’t want to be harsh, but the real value of demo account is understood only by serious traders, it won’t be possible for new comers to know the real value of demo account since they never take it seriously. I have always taken it seriously and that is what has helped me get success easily, but of course, it is not only my brilliance or something like that, it is also to do with my broker OctaFX, as they are the number one company in the world and carries sensational benefits especially demo contest, it takes away the boring part of demo account and that’s why, we are able to practice with high level of motivation to make everything work easily in terms of practicing.

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  • 8 months later...
  • 2 weeks later...

yes while you stay in Forex world you should stay in demo trading as well. Most of the successful experienced traders still practice demo to analyze their new strategies. So to trade with minimum risk of loss demo is must.

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