Myth # 4. Demo trading is useless
In this article we want to debunk the popular myth about demo trading. Pocket Option gives traders an excellent opportunity to trade using the balance of the demo account.
Each trader needs to devote some time to developing the trading skills, money management and psychology of trading in the real situation in the financial markets, but at the same time, the risk of investment loss does not allow to fully acquire and consolidate these skills in the timely manner.
Experienced traders understand that while working on a demo account they also trade in the real financial market “here and now”. Using the virtual balance, you can test trading strategies and, at the same time, not be afraid for actual investments. A demo account is not only a tool for honing skills, but also a great way of working on mistakes.
Trading on a demo account is available at any 24/7 with Pocket Option. Virtual balance can always be replenished in a few clicks.
By using demo accounts on Pocket Option you are able to
- Get acquainted in detail with the trading platform and available trading features;
- • Obtain basic knowledge and principles of asset pricing;
- • Test the trading strategy, signals and indicators;
- • Develop money management skills and psychology of trading;
- • Work out your errors.
It may seem strange, but the correct use of a demo account directly affects your actual income.
And some more settled myths about demo accounts
Myth 1. Quotes on live and demo accounts are different.
This is the most common myth that exists thanks to the people blackening brokerage houses. It is easy to verify its insolvency on your own by opening the same trading instrument both on live and demo accounts at the same time.
Myth 2. Demo accounts do not help to master the psychology of trading.
Of course, everything is individual, but with the proper approach and discipline, you will learn to treat the virtual balance as carefully as the real one, which will help you increase your further investments.
Myth 3. Orders on demo and live accounts are executed in different ways.
It is also easy to refute this error by placing identical trading orders both on a demo and on a live trading account.
Conclusion
We recommend not to forget about the benefits of demo trading and use this feature for both beginners and experienced traders to increase productivity and profit!
