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Old 10-20-2021, 09:41 AM
seefxme seefxme is offline
Starting The Engine
 
Join Date: Jan 2021
Location: London
Posts: 3
Don't Become Too Dependent On Forex Demo Accounts

I've seen some demo accounts that look amazing when it comes to the profits they make. Then those traders go live and they crash their accounts (best forex accounts - https://www.independentinvestor.com/forex/brokers/). Why do you think that is? It's not because they are trading a different "system" than they did when they were trading on a demo. It's the same exact thought process. The only difference is that there are actual emotions behind the non-demo trades.

Let's be honest with ourselves. When you are trading on a demo - https://www.independentinvestor.com/...demo-accounts/, it doesn't really matter if you have losing trades. Sure, we would like lots of winning trades because it makes us think that we can do this for a living.

But in the grand scheme of things, it means nothing to the bottom line. You could have a 100 winning trades or a 100 losing trades in a row on a demo account, and it's not going to make a difference to your actual, real life bank account.

It's like going to Las Vegas with somebody else's money. Who cares if you lose it? It doesn't affect you personally. Who knows you might do really well in Las Vegas under that scenario. But I think we all know what the odds of success are when you play with your own money in Las Vegas. It's no different in the forex market.

If you are not investing with your real money, then you are not investing with your real emotions, and that's part of the equation of trading. You will never be able to simulate how you would truly react to a trade going 200 pips for or against you on a demo account, because quite frankly you don't care.

You don't get to cash in your profits and you don't have to take the losses in any real way. A demo account should only be used to learn the very basics of trading, so you feel comfortable with it. Once that happens, it's time to go live.

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