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- Автор : Gujin
- 08.08.2019
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Forex difference between demo and lived
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Forex difference between demo and lived delaware park casino sports betting hours to seconds
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As your money is not at a stake while using the demo accounts, you can think clearly and become unemotional and rational. But, as soon as you start using live accounts, everything changes. However, it is possible to get over these psychological roadblocks and train yourself to remain unemotional and rational.
To overcome the transition period, you need to give yourself some time. It is recommended to start trading on live accounts by investing in some accounts and similarly practice a while as you did with your virtual accounts. If a person fails while trading with demo accounts, there are no actual losses. However, the trader might develop certain discipline-related habits, which might cost a lot of money during live trading. Traders tend to increase risks or overtrade while trading in demo accounts as no stakes are involved.
However, it would help if you kept in mind that such behaviors can have serious negative consequences as they plan to use live trading. For example, a Forex broker generally does not requote a price while using a demo account. However, as they are using live accounts, they might requote the prices often.
The dealing spreads and price feed of demo forex trading are also different from live accounts. In a demo trading account, the broker might go for executing demo stop losses. However, there are increased risks of a considerable amount of slippage when it comes to real trading. However, traders do not experience any such phenomenon as they trade with the aid of demo accounts. At times, brokers do not provide a real trading platform for demonstration objectives.
It indicates that as traders use live accounts, they might require learning and acclimate to the specific live platform. The data feed contributes to being the primary reason why such a difference exists between live and demo trading environments. A broker requires paying a specific fee for getting access to the live market quotes. However, it is possible to open the demo accounts free of cost. Hence, the forex brokers do not provide similar trading conditions and live feed in the demo trading accounts.
Were your hands a bit shaky? If so, then you were either madly in love or feeling an extra kick of nervousness when you started trading live! There is no real monetary risk on demo. Even if you tried to treat your demo account as a real one, the truth is that there is no real monetary risk on demo.
You can suffer a few losses here and there but, at the back of your mind, you know that you can have your demo account refilled with fake cash any time. If you make a ton of mistakes on demo, you can be comforted by the fact that you can start over easily and this takes a lot of pressure off your shoulders. In contrast, finding yourself in a slump while trading real money can hurt your trading confidence and can cloud your trading decisions later on.
The temptation to commit trading sins is stronger in live trading. As a result, the temptation to go back to your bad trading habits will be a lot stronger. For some traders, their desire to prove that their live accounts can be as profitable as their demo accounts even lead to new problems like overtrading and ignoring their trading plans altogether.
So how can you deal with these differences? A good way of bridging the gap between demo and live trading is to copy the mental state of emotionless trading you practiced on demo. You can do this by focusing on the process and not the profits. Take one trade at a time and focus on sticking to your plan and implementing proper risk management. This will take some of the pressure off and help you concentrate on your trades better.