Post
Topic
Board Trading Discussion
Re: What is your honest review of the Demo account?
by
Dickiy
on 01/07/2023, 18:35:02 UTC
For a newbie who has complete zero knowledge about trading, I think it would be wise to start trading with a demo account to test the waters and to get some insights about trading before actually diving into it. Before doing a demo trading, it would be assumed that the newbie must have studied some materials or watched some professional trading videos. So the demo trading is like a practical experience to apply some of those things he has learned. This would help to build the newbie's confidence, broaden his knowledge, and save him from making unnecessary errors and lost of funds.

This is a great solution for a training period which will greatly benefit a newbie rather than having to jump right in with real money and the various high risks he will likely face and then incur a lot to lose. Join several educational groups or look for a mentor to at least get basic knowledge about what points they have to prepare before finally jumping into real trading. Honestly this is very useful for me personally and maybe for most people. Conversely, sometimes I often find statements from beginners that they always get profits when trading on a demo account, but when they try on a real account they are always dominated by losses. In my opinion there is nothing wrong with the things they have learned before, this is natural in my opinion because they don't have a strong mentality yet, and when they jump into a real account, they will automatically be a little disturbed from a psychological point of view because they are afraid to make a decision .