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Demotrading

Demo Account Will Not Make You a PRO TRADER Hey traders, In this article, we will discuss demo account trading . We will discuss its importance for newbie traders and its flaws. ➕ Pros: Demo account is the best tool to get familiar with the financial markets . It gives you instant access to hundreds of different financial instruments. With a demo account, you can learn how the trading terminal works . You can execute the trading orders freely and get familiar with its types. You can get acquainted with leverage, spreads and volatility. Trading on paper money, you do not incur any risks , while you can see the real impact of your actions on your account balance. Demo account is the best instrument for developing and testing a trading strategy , not risking any penny. The absence of risk makes demo trading absolutely stress-free. ➖ Cons: The incurred losses have no real impact , not causing real emotions and pressure, which you always experience trading on a real account. Your performance (positive or negative) does not influence your future decisions. Real market conditions are tougher. Demo accounts execute the orders a bit differently than the real ones. That is clearly felt during the moments of high volatility, with the order slippage occurring less often and trade execution being longer. Trading with paper money allows you to trade with the sums being unaffordable in a real life, misrepresenting your real potential gains and providing a false confidence in success. Even though we spotted multiple negative elements of demo trading, I want you to realize that it still remains the essential part of your trading journey and one of the main training tools. You should spend as much time on demo trading as you need to build confidence in your actions, only then you can gradually switch to real account trading.
OANDA:XAUUSDEducation
by VasilyTrader
1
TradingView Masterclass: The power of Bar Replay🚀 Unlocking Your Trading Potential with Bar Replay on TradingView In the whirlwind of trading, having ace tools up your sleeve can dramatically shape your strategy and success. The spotlight shines bright on TradingView’s Bar Replay feature, a gem that offers a rewind on market movements, setting the stage for strategic mastery. Let's dive into what makes Bar Replay a must-use for traders eager to refine their game. 🕒 Understanding Bar Replay on TradingView Bar Replay is one of TradingView's standout features, allowing traders to select any point in history on their chart and watch the market's movements replay from that moment. It's a game-changer for visualizing price actions and volume changes without the stakes of live trading. Whether you're aiming for an in-depth analysis or a quick market recap, the adjustable speed of Bar Replay caters to all your needs with unmatched flexibility. 🤿 Why Dive into Bar Replay ? The magic of Bar Replay lies in its exceptional ability to simulate market scenarios, offering a practice ground for strategy testing and gaining insights from historical market behavior. Newcomers find a safe space to learn and experiment, while the pros get a robust tool for refining strategies. Our tutorial video steps it up by walking you through practical uses on a top company's chart—marking crucial levels, applying indicators, and making trade decisions, all within the Bar Replay environment. ✨ Conclusion: ReplayYour Path to Trading Excellence Bar Replay isn't just another tool; it's your companion in the quest for trading excellence, turning theory into actionable insight. Whether you're just starting or fine-tuning your strategy, it bridges the gap to more informed and decisive trading. Ready to explore Bar Replay 's power and make each session a step closer to your trading goals? Let's embark on this journey together. ❓ Ever tried Bar Replay in your trading adventures? We're all ears! 📢 Whether it's been a strategy game-changer or you're navigating its integration, drop your stories below. Let’s navigate the market's waves together. 💖 TradingView Team PS: Check out our other Masterclasses in the Related Ideas below 👇🏽👇🏽👇🏽 and give us a 🚀 and a follow if you don't want to miss any of our future releases!
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COINBASE:BTCUSDEducation
by TradingView
7
TradingView Masterclass: Paper TradingIn this Masterclass, you’ll learn how to use our official paper trading tool. Paper trading gives trades the capability to test their trading skills in a simulated environment without risking real money. For all the new traders out there, you’ll want to make paper trading your best friend. Why? Have all the fun you want, practice endlessly, and never lose a dime. Reminder: With Black Friday nearing (seriously… it’s coming soon), now is the time to master one of our most important tools. You’ll be ready to go the second you activate your upgraded account. To get started, follow the steps below: Step 1 - Click the ‘Trading Panel’ button located at the bottom of the chart. Step 2 - Once you click the ‘Trading Panel’ button, a list of brokers in your region will appear, but also, at the very top, a Paper Trading account powered by yours truly, TradingView. Step 3 - Click Paper Trading and you’ll now start the process of opening your free, simulated trading environment, entirely powered by us. You made it! Time to celebrate! 🕺💃 Alright, let’s go a little deeper and talk about the buttons you’ll want to understand now that you’ve got your Paper Trading account opened. While still having the Trading Panel open, click the button that says “Trade” and an order slip will appear. It’ll look like this: As you get started, here are some tips to keep in mind: Take Paper Trading seriously. Work Paper Trading as if it were a real account: Record your trades, the reasons, the results obtained and the lessons learned. Explore different approaches like intraday trading or swing trading. Maintain emotional discipline, your trading strategy and risk management. Practice, practice, practice - that’s what this is all about, getting better at trading through practice. It gets better, because there are multiple ways to trade and customize your paper trading experience. Open the chart settings menu or right click on the chart, and you can add specific trading features to the chart as needed. In-fact, we’ll explain all of the features available to you in the chart settings. 🟥🟦 Buy/Sell buttons : When these are turned on, you’ll see a Buy and Sell button at the top right of the chart. When it comes to buying and selling, there are three primary order types: Market (executed at the current market price), Limit (executed at a defined specific value), and Stop (executed when the price falls below a certain level). 👆 Instant Orders placement : This option allows you to open positions at the market price by simply clicking the buy and sell buttons. You can choose the quantity by clicking on the number below the spread. ⏰ Play Sound for executions : You can enable this option to receive an audible notification when a trade is executed, with eight different tones to choose from. 📲 Notifications : Receive notifications for All events or Rejection orders only. Tip : You can open the order panel by using the Shift + T shortcut or by right-clicking on a chart, then selectings Trade > Create a new order. 👁‍🗨 Positions : Uncheck this box if you don’t want to see your active trading positions. 🔺🔻 Profit & loss : This option allows you to view the profit and loss changes in your trades, which can displayed in both ticks and percentages. 🔃 Reverse button : When enabled, a button is added to your active trading positions that allows you to reverse your trade. 👁 Orders : See your current open unexecuted orders by checking this box. 🔺🔻👁 Brackets profit & loss : It functions similarly to the Profit & Loss option, but for pending orders. ⏪ Executions : It displays the past executed orders on the chart. Execution labels : Enable this option to view specific information about past execution orders, including trade direction, quantity, and executed price. Extended price line for positions & orders : It creates an extended horizontal line for your active trades. ⬅⬆➡ Orders & positions alignment : You can move the alignment of your orders to Left, Center and Right in your charts. 🖥 Orders, Executions and Positions on screenshots : Check this box if you want to download screenshots (shortcut: Ctrl + Alt + S) with active and pending orders. Thanks for reading and we hope this tutorial helps you get started! We look forward to reading your feedback. - TradingView Team
Editors' picks
TVC:SPXEducation
by TradingView
29
Demo vs Live TradingWhen most new traders finally switch over from demo to live trading, they usually believe that their demo trading results can easily be replicated on a live account. Because of this misconception, many are left frustrated and demoralised when they finally realise that this is far from the case. Here are a few reasons why: Real money and real emotions Demo is risk-free Chasing losses on a live account Cutting profits short We have discussed the main differences between demo and live trading, but will delve further into the psychological barriers when live trading and how to overcome them in a future post. Stay tuned! BluetonaFX
Education
by BluetonaFX
4
Demo Accounts are "Rigged" against us all!But not by any of the brokers..... They are rigged by OUR OWN MINDS Let me explain..... You start learning how to trade, all the lingo, and even some strategy. You start a demo account, doesn't matter where, and just start trading You do it just like you learned, from where ever you learned it. Indicators, check, do the analysis, check, major levels, check, and so on. You place the first trade, with stop and take profit. It wins. You do it again, and again. Maybe lose here or there, but for the most part you keep winning. You look at the balance finally, and wow, it's up an insane amount. Maybe it was luck, reset and do it again. You don't pay much attention to the profit or loss of each trade, and even further you may not even pay attention to floating profit and loss (unrealized gain or loss). Money is not important, it's just a demo and you are only trying to test and make sure you know what you're doing, and you won't be trading 100k, it's just practice. You just missed something that is critical..... "Money is not important" It's fake who cares, the strategy and just getting familiar with trading is all you are trying to do. All this fake money doesn't count, it doesn't matter, and you won't watch it at all, or maybe even check after every trade just to feel good about it going higher and higher, but not how much because of trade sizing. Now you have a lot of confidence, so hey, let's toss $1000 from savings in there and do it for real. You get a spread only account, because that's the starter account. Account is set up and you don't even bother to see what you can trade with, the margin, none of that. You just do what you did in demo. Everything is set, you apply indicators, what ever you want to do. "This is going to make me rich" you think, and you place your first trade for 1 lot, because you could place 100 of those in demo, and didn't lose much so it's fine. Order filled Immediately, -$23 is all you see. But the trade just opened.... It's now too late, your mind has officially rigged yourself. That instant red number will stick with you. The price nudges down, only about 4 pips, and you begin to only focus on the floating P&L, The real money you earned, and right now that's $60 in the red, Close it! Close it! Close it! Don't lose it! Whew, got out of that one. Try again Place another trade, another red $23, now it moves 3 pips against you, oh no, losing again! close it now! ok that's two, but I only have $900 left oh my god, that was fast! This one has to win, because hey, it worked in demo right? Place another trade. You know it's red as soon as it opens now, so you wait. Price moves up 4.5 pips, Green, Profit! close it! wow a win finally. Only $35, but a win, going up now. Place another trade, and because you figure this is when it works like demo, you you think the next one is big. It reverses and takes out the stop loss. You did better but stopped out, lost another big chunk of the account. What's this? price just shot back up and past my target! GGRRRRRRR! It's going to keep on heading up, buy! You don't do the stop loss because it's gone! it has to go, then boom liquidity sweep and it wipes out your account. But you won in demo, what's wrong!?!?!?! Let's try again. Repeat the process. You may do this several times with the same broker, or the different brokers, but you will do the same thing repeatedly. Human nature eventually leads us to believe demo accounts are rigged. You are 100% correct, but the brokers are not the ones doing it. When you trade a demo account YOU DON"T CARE about the money.... It's not real, so why bother, just make sure the strategy works. Check This is how your mind will "rig" the demo against you. In demo it's only strategy, testing, trying things out, not the money. Live account, it's all about the money, because that's what you want out of it of course. And you worked for it, the hard way. Then, after a few more trades, you see your demo account balance just keep rising again. Go back to live, Deposit more, and now look harder at the P&L constantly going down, not realizing you tossed the rules out the window again, and you are not trading real the same as when you traded for fake. The money is real and you don't want to lose..... This is how demo is rigged. In order to beat it You must trade your real account the same as you would a demo account. When you do this, you will notice it won't matter (near as much) which you trade after, you will get the same results. Demo money is not real, it's a made up unit in a game. If you can manually set the value of your demo, it is best to set it to the same account size as what you intend to trade for real with. This way, you can see the actual P&L, see the real results of backtesting/forward testing, and you can be familiar with the numbers you can expect to see when you use your real money. It is also much less "Traumatic" to our minds as we go to real money from a fake account of the same size, and makes the demo seem more realistic. If you step down from 100k to 1000 is about the same as going up from trading 1000 to 100k, that's a giant leap in sizing, results, in progress expectations of what it looks like for drawdown and P&L floating, and so on. Just a massive trauma to our mental system. Not having proper and matching expectations is another way our mind will rig the demo against us. If you find yourself constantly looking at P&L, instead of the trade, it would be good practice to just stay in the demo account until it's boring. The reason you do it to a point of boredom is so you will train yourself to trade by sticking to your strategy and rules as a habit, not just an emotion because the money is real this time. Once real money gets involved, all the rules "go out the window" even if you don't realize it. It becomes all about the money, and not about repeating the results. Things won't seem the same as they were before, you think. Things are in fact exactly the same as before, minus one key element: The real money. And that is how you rig the demo accounts against yourself. Forget about the money in the real account, and just focus on making the trade. Trust your risk management and your math to find the right risk size, set the order and target/stops, and let it rip just like you did in demo. If they don't feel the same, real or live, be careful you are not looking too hard at money, and not hard enough at the actual trade the market is presenting to you and your strategy. Been there and done that. I agreed with the crowd for a long time, until I did one day demo, one day live, one day demo, one day live, back and forth back and forth, and finally, it hit me, and I got mostly out of it. I still look at money sometimes, but because of journaling and tracking my trades with tradingview, I can see, most of the times I have the right Idea, I just didn't wait long enough. This makes me think back to my demo days, and how the argument around it today is. Yes brokers want your money, but they don't get the money you trade. They are not "hunting your specific stop just because they don't like you" no. They make money by fees on trades you place. That's it. If they make money on your trade by taking the other side of your trade, that is not a reputable broker, and I only advise reputable brokers to work with, not some new company in the Kaiman isles or something out of jurisdiction of any law, but that's a topic for another time..... *I've had this argument for the case against how demos are rigged for a long time, just never posted it. Thought here would be a great place to put it, and maybe help some others out of the trap I was in with so many other traders having the same attitude to demo account trading. Yeah it's definitely rigged. To what degree depends on the mind who is using it at the time.....
Education
by ForexStoryteller
Learn Pros & Cons of Trading on Demo Account Hey traders, In this article, we will discuss demo account trading. We will discuss its importance for newbie traders and its flaws. ➕Pros: Demo account is the best tool to get familiar with the financial markets. It gives you instant access to hundreds of different financial instruments. With a demo account, you can learn how the trading terminal works. You can execute the trading orders freely and get familiar with its types. You can get acquainted with leverage, spreads and volatility. Trading on paper money, you do not incur any risks, while you can see the real impact of your actions on your account balance. Demo account is the best instrument for developing and testing a trading strategy, not risking any penny. The absence of risk makes demo trading absolutely stress-free. ➖Cons: The incurred losses have no real impact, not causing real emotions and pressure, which you always experience trading on a real account. Your performance (positive or negative) does not influence your future decisions. Real market conditions are tougher. Demo accounts execute the orders a bit differently than the real ones. That is clearly felt during the moments of high volatility, with the order slippage occurring less often and trade execution being longer. Trading with paper money allows you to trade with the sums being unaffordable in a real life, misrepresenting your real potential gains and providing a false confidence in success. Even though we spotted multiple negative elements of demo trading, I want you to realize that it still remains the essential part of your trading journey and one of the main training tools. You should spend as much time on demo trading as you need to build confidence in your actions, only then you can gradually switch to real account trading. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
3
OTE entry on GBP/USD - NY Killzone ICT concepts, ICT tradersI have been studying forex on and off for about 7 years now, And nothing has created results like developing an understanding of TIME PRICE LIQUIDITY SENTIMENT ( AKA THE ICT OTE ) My learning and studies remind me of a statement made by a previous teacher in my martial arts training, "fighting, When it happens is going to come down to 1 or 2 moves that you know really well and can execute in the worst circumstances" The brain seeks to understand and simplify things so that we can save our cognitive load, This is essentially the function of the Reticular activation system. Many mentors from all walks of life will teach this concept, And ICT mentions this time and time again in his series on Youtube, Train the brain to see what it needs to see. I feel as humans, we overcomplicate processes, Turn them into rituals that are blown out of proportion and then worship them, This does not lend itself to success in my opinion. For me, Forex is simply - Time, price, Liquidity, Logical sentiment direction. This creates the bias that allows me to pull the trigger without emotion. Disclaimer: yes this is a demo trade, Yes this is a STUDY and share of knowledge for education and collaboration purposes, I have nothing to sell you. simple example of the ICT OTE working within, And just outside of the NY kill zone, I had already taken a position of the market as seen in the MT4 DEMO account. the "live trade" was a re entry at a new valid level after I had "made my money" with a smaller position. YouTube - ICT www.youtube.com
Short
by hunterprotocolFX
WHY YOU SHOULD PAPERTRADE FOREX DEMO ACCOUNT BEFORE REAL $$$$$Hey Traders so today I wanted to take a step back and show beginners how to papertrade the Forex Market. Although some believe papertrading is not the same as real trading. I believe if you take the papertrading account seriously you will gain many benefits. You will get experience, learn discipline, gain confidence, and test your results to see if you are truly ready to open real account. Enjoy! Happy Trades, Clifford
Education
by TradeTheIndex
3