Top Binary Options Brokers Reviews, Strategies & Trading Signals › Forums › Binary Options Trading Forum › Trading Platforms and Software › The Big Demo Trading Thread – Demo Your Way
This topic contains 1 reply, has 1 voice, and was last updated by PIPING 2 years, 7 months ago.
August 16, 2013 at 7:04 pm #1752
More time spend on demo account is worth a lot of saved money!
More time spend on demo trading save a lot of money for the newbie traders. It is difficult to keep enthusiasm and stay away from risks, but in my opinion it is worth trying. The other possibility is to start real trading but with very low amount of money and conservative money management, but you have to be prepared to lose them and continue learning after that.
I don't think we can just set a time on this matter! We all interpret things differently and at different rates. Besides some might spend 6 hours a day every day practicing and learning, while others only practice 2 hours a day 4 days a week. So 3 months demo trading would result in totally different success rates for each of them. Another thing that matters is the fact that we start learning from a good source. Wasting one month of demo-trading and testing gambling-style 30-60 seconds Martingale systems might only teach you how fast you can lose money. Then there is the issue of limits, for how long can you actually evolve by only demo-trading? Sooner or later you need to go over to a live account to learn how emotions play a big role, hesitation, stress, fear and pushy account managers. Okay, I hope I didn't scare anyone now Anyway, I spent almost 4 months demo-trading and actually I should have spent some more.
You simply wet your toes in the world of trading by trading a demo. You basically not learn anything. There is a lot about markets and you will probably spend a few years before you become profitable. Do not exaggerate the value of a demo. It helps you to familiarize yourself with platform, orders and a few other technical things, but won't prepare you as a trader and won't help you to become disciplined. You need real conditions for developing as a trader.
to me it was useful playing around with the demo for few months even though my account manager wasn't encourage me to do so. okay let me share something might be useful on demo for 3-6 months or over. just like i did before i start let me tell you something that i've been trading to dozen brokers and try to buy everything to make me success! here i go 1 month when i discover this binary option i just fund my money to trade(4 times at the same day) and pray to earn money without knowing what and where to to look at because i don't even know the mt4 does exist LOL. I was just simply buy and sell by looking at the movement and then i loss all my money and thought this is really scam so i stop from it and doing research about binary option. is binary option real or scam. 2month im looking for holy grail indicators,signals,knowledge and everything i need to know. then i found mt4 LOL! and playing around to setup. and i even do backtesting hahaha! SO i think i can trade and now ready to fund my money to trade with holy grail indicator,paid signals and vip broker signals(so many signals LOL). so yeah i start earn some money and i said to myself THIS IS IT! but it was just for few days(2-3days) and wipe out all of my money. why all this happening? what went wrong? 3month looking for demo account because i know funding money to trade i will lose money again and over again. i decided stop the signals and attend some webinars which is useful they teach you how to trade, when to enter when not to enter and so on. 4-5month still playing around with the demo with my strategies and decided to trade live and it goes the same, i earn easy money and again wipe out all my capital within just 1 day. hmm im thinking what do i need more to make myself profitable because i think i got all the strategies and know how to trade the news. then i start to realize that i lack of discipline and no money management at all. people can study strategy in a short time period. so i begin with risk management which is 1-2% per trade and 15% per day from my capital to avoid bad emotional while trading and start saving big money for my trading because i know i will make money if i strict to myself. 6-9month this is the most important part. i trade demo account like my own money and spending times the whole day. i need to know what time is the best time to trade for my strategy 5-15 mins expiry time(ONLY 1 asset eur/usd) and i found my best trade when the market is neutral(both market are closed) .since i've been trading live for months( wipe out all my fund within few days LOL) so i know how the pain feels like,how fast is my heart beating and how i react to my losing trades.i got no problem by acting this demo money is money. every each month(5 months) i record my trades to my journal trading(is a MUST).You can see how the money grow,so to me this trading stuff 1% strategy 99% pyschology and once you really know how to trade then you must fight against yourself SELF-DISCIPLINE. oh yaaa 1 more thing before i sleep, 90% this market will give you money but the other 10% it will take all your money
For me it is absolutely necessary to trade on demo and learn different strategies and techniques for their evaluation. This period is minimal and for many traders who don’t give the necessary attention they need much larger period of time. For me actually it was significantly longer period of time, but if you keep focused on your goals and learn from more experienced traders you can move the first steps very quickly.
totally agreed with buddy that's why i invest all my money to software,signals,webinar and brokers to teach me a lot of strategies & techniques but 1 thing trader(newbie) should know if the experience/pro trader put everything on his table sharing all the techniques and strategies that's not gonna help you believe me haha.