Is Using the Demo Really Helpful?

Posted by Deb | Day Trading Journey | Thursday 19 August 2010 11:05 pm

Today I lost again on the demo, and I am starting to have doubts about how much helpful the demo is to me.

Prior to my first “going on live”, I took the demo much more seriously, though already then I would do things I would never had done on a live trading. When trading on a demo you know there isn’t any real money on stake. You can put a limit order and forget about it, or try things which you aren’t really supposed to.

Today I put a limit order, but then my daughter and her friend asked to eat something. I left the Transact running and went to prepare something, forgetting about my position. When I came back the position had been over, without me even seeing it entered. That is something I wouldn’t allow myself on live. I did 2 more positions, and without that losing position this would have been a successful day, so I really don’t know how I should be seeing this day of trade – as a success or a failure.

On the other hand, if I cannot force myself to trade seriously on the demo, how will I be cautious enough on live? And what other options do I have now? I don’t feel yet prepared to go back to live trading.

I suppose I will have to play it by ear. I’ll go on practicing on the demo for a while till I feel reassured enough to trade on the live trader, whether or not I had been successful enough on the demo.

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