Demo Account V/S Demo contest.

[kaji]

I think the demo contest is a great place to find out how much our ability to trade as compared with other traders. and in situ as well as learning about the psychology of trading because we have hope to win and get a prize ....

[dmambi]

I feel for the people who are serious to make the Forex trading career should not participate in Demo contest as these contests make us aggressive traders, and if similar practice is done in real account then we will be doomed. So it is always better to use Demo trading to practice the trading and test some indicators and strategies.

[sumonmia0526]

This 2 account have big difference that people should understand.

In demo account, we try to do trade with small lot size and try to learn from that so we can do same in real account.

But in demo context, we always open big lot size to double money in some hours and to come in top 5 or 10. So i think we should not learn anything from demo context except doing gambling.

What do you think about this?

i been participating in demo several times in isntaforex but i never reach the closest from winner but i m shocking every time when i saw the winners are making big profits with demo contest .yes @anytime u said well that there is nothing to learn from demo contest ...that is a contest actually where everyone trying to do whatever they want but this is not possible when we are working in real account

[sunil]

I am little agreed with you that instead of demo trader should strat from cent account and because demo did not offer to learn emotion trading and greed control because these teo matter when trader invest from his pocket. So instead of demo go for cent account.

[dineshji]

in my view we must trade in both.
if we are just learning stage than we trade in demo account and made some trading strategy.
we can test our trading strategy in demo contest account. there is no loss but if we win we got prize.

[sidhu]

yes when it contest most of the traders will just gamble with it .but if a trader has a good system he can also earn big price from there.maybe the broker must not give the price only based on the profit but also other factors like draw-down and looses and wins in total.so that the contests can focus on better trading rather than just gambling.

[ishvara]

Their greed compell them to do this. If theyt did not do so than contest are the best thing for new trader because in this trader can get success and start his trading careed without investment.

Lack of fear is the main thing that makes a forex trader never to trade with the rules, there are many traders that just take high risks in contests just because they know that they have nothing to lose.

[avi]

In another account they will conduct some contests for people thats also demo account thats why most of good traders will try these demo contest account to check their ability.

[avi]

Few says back i participated in one demo contests where i lost half of money and the person who is in first made 10k into some 300000 dollar in 2-3 days, i think he will reach 1 crore at the ending day of contests.

[avi]

I saw some experienced traders are working hard on demo contests to make some huge money by winning the contests. For normal trader its time waste if he try for demo contest.