Hi to everyone, I'm very new to the game,,, be gentle with me...
You people can tell me this answer I am sure. What is the diffrence if any, between a demo account and a real account?
For me demo and real are two different worlds. I suggest you never compare trading skills from demo to real trading. I remember my first demo, I think it was Oanda. I tripled my demo money in few days. After some time I went to real.. and it was very different :)
Demo - real differ because you act and think differently when you use real money - this is psychology.
From technical point it is also different, because trades execution in demo is virtual, so you can not experience many problems from real trading, like unstability and volatility of price, real trading errors, etc.
Also price can be different on demo and real.
And if you find the broker who offers exactly the same trading conditions on demo and real, find another one asap :)
Hope that helps. Good luck.
You eventually will come to realize that
the greatest difference between a DEMO and a REAL account is not the money, but YOU.
Hi Gemstar, its very true what has been posted, if you try spreadbetting you can open and account and trade from 50p PP.
At this level you can try your statergy with £100 giving you a 200 point stoploss, if you want to be aggresive (not the way to go) then try this and when you make anykind of profit you have to think of the % made and not the money as this will be small.
This low level will give you an insight to the psychology of trading real money and should you get wiped out its not such a great impact, hopefully not, Robbo
Not really just the psychology that differs between live and demo.
A totally hands-off EA will vary in its results between the two regimes:
- Different spreads
- Different prices
- Stoploss hunting
- Different server loads so differing propensities for events such as 'trade context busy' for example
etc.
CB
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Hi everyone, nice to be here.
I've been looking at the markets for only a few months and have I guess a little understanding of how things works and I guess just like everyone else has done in the past thinks that there way is the best way, however I'm not going to kid myself into that.
I started with a $5000 demo account a few weeks ago and now it's up to $11,000 just by taking trades a few dollars at a time and slowly going up and up using a huge margin for all my errors, trades that go wrong for me come back in my direction within a hour or two or sometimes a day or two. I have only closed two trades that were mistakes totalling $37.50, the rest have been trades wth profit.
Being that it is a demo account it all means nothing other than gaining experience.
You people can tell me this answer I am sure. What is the diffrence if any, between a demo account and a real account?
Thanks very much in advance to anyone who answers me.
Regards
Jeremy