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Re: Is Micro account best way?
Posted: Tue Oct 26, 2021 5:22 am
by REALEY
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.
Agreed, I approached my learning the same way, as the mindset and emotion of real money is not the same as demo.
Re: Is Micro account best way?
Posted: Thu Oct 28, 2021 10:43 pm
by sebking1986
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).
This 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?
Re: Is Micro account best way?
Posted: Sat Dec 11, 2021 6:44 am
by Trendy
Yes, micro accounts are the logical next step after demo. It is different when the money is real
Re: Is Micro account best way?
Posted: Tue Dec 14, 2021 1:37 am
by HeavLeighGill
I 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?
Posted: Tue Dec 14, 2021 6:26 pm
by no_frame
Nowadays, 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?
Posted: Wed Dec 15, 2021 12:57 am
by sebking1986
I 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?
Posted: Tue Feb 01, 2022 3:10 pm
by Swiss_cheese
One thing you will notice when moving from demo to micro is how less bold you are
Re: Is Micro account best way?
Posted: Wed Feb 02, 2022 12:26 am
by Jungletrader
It'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
Re: Is Micro account best way?
Posted: Wed Feb 09, 2022 9:28 pm
by SuperMove
Yeah this should be the second step main step when you have understood the basics well.
Re: Is Micro account best way?
Posted: Mon Feb 14, 2022 10:08 pm
by REALEY
For 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.