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Re: Is Micro account best way?

#21
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?

#22
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?
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