What Is The Difference Between Virtual Forex Trading And Real Forex Trading?
Other than the fees, taxes and real money is there anything else different between them? I’m using Meta trader 4 fake money.
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Most people do well in virtual trading. That’s why the brokers encourage you to use it.
The reasons most people get opposite results with real money are;
Timing.
Psychological & money management techniques (or the lack of them).
Terrible risk/reward ratios.
“stop hunting”.
Lack of fear.
You may or may not know this but…. money management (position sizing, risk reward optimization, placement of stops & psychology) are more important in trading than figuring out if the currency pair is a long or short.
Be very careful. Hopefully you’ve got a least a dozen books read before you start!
Millionaire Traders, Lien & Schlosberg is a good one to start, after you have some technical analisys behind you.
Demo trading is virtual and Live forex trading is Real forex trading.
Also the main difference is that: with demos you gain experience and knowledge
But with real you earn returns too…
there are some significant differences between demo and live accounts. if you trade live, you can get some error messages when you try to open a trade, like off quotes, invalid prices, etc… spread can get really wide during high volatility (news), execution time can be longer, you can get slipped, or some brokers can even take your profits for some reasons… it’s more difficult to trade live, but it’s still possible to be profitable if you know your broker and have a good trading strategy