Quote from: jrrsparkles on Today at 06:59:05 AM

Quote from: Emmybit001 on May 16, 2024, 03:25:19 PM

There is something I understand about trading, that the beginners should not just ruch into trading because they see something on socials, the beginner's should understand how it works first before they start trading, that's why we have the demo account, try it with demo account first with that you will understand how it is, then you can stick any amount of money you want, thank you.

Demo account isn't for that purpose and can't serve that purpose either, it is there to get familiarize with the trading and most often its for the advanced user to try their strategies before going to the actual exchanges. If you don't want to lose your money then stop looking into the social media for becoming rich cause no one is there intend to make others rich other than themselves.

I think that's what the OP is saying; it's just that he didn't put nice words or a clear sentence, but you and the OP have the same statement. Anyway, demo accounts or demos are sometimes ignored by newbies in trading. They are thinking that it's a waste of time to do demos are sometimes ignored by newbies in trading. They are thinking that it's a waste of time to do demo accounts; instead, they will go straight to live trading, and that's when they will learn the lesson in a hard way. You see, demos exist so that a trader can do experiments and try the things that he has learned over time.

But of course, remember that you should not be too comfortable doing demo trades because you might adopt things that you are doing in demos that should not be done in live accounts. For example, being reckless in demos, as you know you are not going to lose money in demo accounts, you might develop the trait of being too reckless. It can't be done in live trading because one wrong trade might burn all your funds. Treat the demo account like you are trading live.