Agreed, I approached my learning the same way, as the mindset and emotion of real money is not the same as demo.RplusT wrote: Thu Apr 29, 2021 11:33 pm In my early days I used a Micro account for one reason. Learning to trade, but using real money. It's a lot different to demo accounts as one needs to adhere to account management too. Thus it is not about profits. I advice everyone to do so.
Re: Is Micro account best way?
22This is my thinking. I have always personally approached demo as if real in order to build the good habits for when going live. Progressing to a micro account is a good idea no doubt but you must instill the good habits and discipline while on demo or else why bother. What can you learn otherwise?josi wrote: Tue Aug 24, 2021 10:00 pm 1. If you don't adhere to money management rules on a demo, don't even start, as it will be a waste of your time (or worse: gambling). As you say: it is preparation for live trading (for all aspects of trading). People who tell you something else either don't really trade or try to fool you.
2. It doesn't mean that it will make live trading psychologically any easier but at least you can fall back on routines (you have acquired).
3. It will help you to understand if you really have an edge (and where it is).
4. It will prepare you for your drawbacks (how big they are and how long they last, if you do it long enough).
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Re: Is Micro account best way?
23Yes, micro accounts are the logical next step after demo. It is different when the money is real
Re: Is Micro account best way?
24I practiced on a demo but went straight to a 0 commission account. The main thing I dislike about micro accounts is that spreads are higher and if you're trading with a broker that offers different account types, you aren't going to get any perks. For example, if there's a deposit bonus, micro account holders won't be eligible.
Re: Is Micro account best way?
25Nowadays, many beginners are learning trading on micro accounts instead of demo, I think this choice is as per the risk appetite of each one. If you have decent level of understanding on forex then I think only micro account can give you the real experience of how emotions play its part in trader's life and how you can manage it.
Re: Is Micro account best way?
26I think it is important to ease in for sure but the habits are built from day 1 on demo.
Re: Is Micro account best way?
27One thing you will notice when moving from demo to micro is how less bold you are 
Re: Is Micro account best way?
28It's a good second step after using a demo account.
I still would advise using demo first at least for 6 months before risking any capital no matter how small
I still would advise using demo first at least for 6 months before risking any capital no matter how small
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Re: Is Micro account best way?
29Yeah this should be the second step main step when you have understood the basics well.
Re: Is Micro account best way?
30For me it was where I did most of my learning, demo was a false sense of security when it came to the emotions, so having real money on the line, however small, really made me focus and apply the concepts of risk management and live markets.
