Demo vs Live Trading Account (Is Demo USELESS?)
Рет қаралды 12,937
5 жыл бұрынDemo account vs live account. Which one should you focus more on? Demo account trading is something that traders would skip only to learn it the hard way on how important it is to go into forex demo trading first before they trade with a forex live account.
Trading with a demo account is boring for a lot of traders because trading demo means that you won't earn any money. But trading demo is essential for you to potentially do well in forex live account trading.
I want to share with you the difference between a forex demo vs real account so that you know which one to focus more on throughout your forex trading career.
The truth is that you still need to be in forex demo trading even after you have started a forex live account. A demo trading account is needed for you to develop new forex trading strategies.
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MENTORSHIP PROGRAM ONLY FOR SERIOUS HUSTLERS :
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Singapore youtuber profile:
Karen is Singapore Forex trader, Singapore motivational speaker, Singapore youtuber, Singapore vlogger , author and was ranked #1 in a Singapore nationwide Forex trading contest.
This trader vlog showcases the trading lifestyle and entrepreneurship life, plus weekly motivation for those that are not traders.
It's also a Singapore vlog where most of the shots are done in Singapore. She will also be bringing you around the island to explore Singapore.
Karen is a motivational speaker based in Singapore and Malaysia and delivers talks that touches the heart of her audience members.
She is a motivational speaker that is well sought after by many schools and event planners as she is known for solving several teenage problems as she has experienced many setbacks as a teenager back then.
Email: karen@karen-foo.com
Website: www.karen-foo.com
Facebook: / karenfoospeaker
Instagram: / imkarenfoo
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Music Credit:
Road Trip by Joakim Karud / joakimkarud
Music promoted by Audio Library • Video
• Demo vs Live Trading A... Disclaimer:The content here is for informational purposes only and should NOT be taken as legal, business, tax, or investment advice. It does NOT constitute an offer or solicitation to purchase any investment or a recommendation to buy or sell a security. In fact, the content is not directed to any investor or potential investor and may not be used to evaluate or make any investment.Investing and trading is a high risk activity and should be approached with caution. I am not a certified financial advisor. Hence, it is important for you to seek a certified financial advisor to craft your portfolio.
@teriquedavis9233 5 жыл бұрын
I've been trading for a year now and my reason was to make money fast and become rich and when this did not happen I inevitably gave up on trading. There are many so-called "mentors" who pretend that they want to help you and tell you that you can make money after just a 3 day course but they just want your money. Because of your vlogs I've learnt how to look at the markets with a realistic expectation as to how long it will take me to become a profitable trader. You helped me look at trading like a business and like any business there will be ups and downs but discipline, patience, consistency and hard work is key, and these are all characteristics which come from having a passion for what you are doing. Without these traits you are almost guaranteed never to succeed in any business, let alone forex. I look forward to learning more from you. Thank you Karen Foo!
@KarenFoo 5 жыл бұрын
You're welcome! Im glad I was able to help 😊
@gladmangoddey2362 5 жыл бұрын
So happy to have a mentor like you. You doing great. Pls keep it up , hopefully I meet you one day
@KarenFoo 5 жыл бұрын
Thank you for your kind compliment
@jamesk.muchiri5700 2 жыл бұрын
I love your sarcasm Karen Foo! Love your content too. Very educative....!
@visnu2254 4 жыл бұрын
Thank you so much for this!
@sakibmustafa40 5 жыл бұрын
Hello karen... I don't comment on any vedio on youtube but i really like you. You tell every thing real, yes there are also many good traders who post tutorial vedio but the difference is that you always tell the real things. I have lost almost $600 dollar yet. But last 2 month i didn't loss any money. But your advice gives me GOLD. Thank you so much. And i will let you know, when i will be a consistently profitable trader. - Sakib mustafa from BANGLADESH
@KarenFoo 5 жыл бұрын
You're welcome Sakib. I'm glad that you enjoyed the videos and that it helped you in your trading. I wish you all the best !👍
@sakibmustafa40 5 жыл бұрын
@@KarenFoo Thank you 💖
@jiasenium 5 жыл бұрын
You put things to perspective! Hard truth, but humorous😂
@KarenFoo 5 жыл бұрын
Thank you for your compliment 😊
@quizzydab6338 5 жыл бұрын
You tell it like it is!!! The truth! Thank You!
@KarenFoo 5 жыл бұрын
You're welcome !
@cuttingedgecool7235 5 жыл бұрын
This beautiful lady Miss Foo, just gave the most solid trading advice on KZfaq!!!
@KarenFoo 5 жыл бұрын
So sweet of you 😊❤
@lavicheri 5 жыл бұрын
Hello, I really like your mindset, how you explain things. Thank you for taking your time and make videos to help people. It really helps! 🙂 Have a nice day and may 2019, be a good year for you (and for everybody in the comments!)
@KarenFoo 5 жыл бұрын
You're welcome. Thank you for your kind compliment. Happy 2019 to you too
@edinamdesolla5043 5 жыл бұрын
As a beginner I'm still grinding the demo account day in day out and it is helping me to finger out things everyday. Thank you so much general director, Karen Foo
@KarenFoo 5 жыл бұрын
Lol general director
@paulbraxton3736 3 жыл бұрын
Well explained video sir just exactly how I was put through when investing with @Carlos_1uptrades on Instagram.
@sololaescritura Жыл бұрын
Hi. Great video. I was told that you can do it great in demo but terrible in live becuase it is diferrent. Is it diferrent or it is just due to psicology?
@lindaarnold231 3 жыл бұрын
You are so funny 🤣 I'm going to do as you said train in a demo account. Thank you 😊
@jauxed 5 жыл бұрын
I focus on learning first. Reading books that Jay Tun suggested from your interview. Not planning on even demo anytime soon. I wanna enter the industry w/ knowledge and understanding first.
@KarenFoo 5 жыл бұрын
That's great. Markets will reward patience. All the best to you!
@jauxed 5 жыл бұрын
Thank you Karen, you inspired me really.
@jasonstazm 3 жыл бұрын
How does the broker drag the price to the stop loss???
@sololaescritura Жыл бұрын
I am taking competitions demo trading to work on it and test strategy
@Encik_Amai 5 жыл бұрын
Hello Karen.. When i feel that is not good on my trades.. I will hop on yours video collections. It will motivate me.
@KarenFoo 5 жыл бұрын
I'm glad that my videos help
@prabashdevinda5887 5 жыл бұрын
No pain , no gain , that quote has proven when i look at your every videos. Every singel video makes me put more effort to be a successful trader. I want to wake up early morning. I am trying that from last two weeks but i did it only three tines but everyday i try until wake up early part of my life and every day i go to bed around 2.15 am to 2.30 am try to wake up 7.15 am to 7.30. You feel like a good friend. Keep posting motivational videos for traders. Thank you karen
@KarenFoo 5 жыл бұрын
Youre welcome. One thing you need to know is not to sacrifice sleep for work. Because I'd rather be more productive and make the most of my time than sacrifice my health. All the best to you !
@CST_OG 2 жыл бұрын
this video is really helpful, i have been trading for 4 months and I have been learning and understand the markets on demo and developing my system too and I feel confident now to trade live, thank you
@CST_OG 2 жыл бұрын
when i trade demo, i focus on the percentage gain than how much I actually earned on the trades, as IMO ut gives a much more accurate representation of how good it really is and what is the expected returns
@0marfans 5 жыл бұрын
I love your sense of humor 🤣
@KarenFoo 5 жыл бұрын
Thank you 😊
@MohammadShahpoorPardis 4 жыл бұрын
Hello I made a forex account about year ago and i opened demo account for learning but it was at start due to side commitments i left it.. Now recently i opened demo account 200usd and i managed it and made 600usd... i want to open real account but everyone (familly friends ..) telling me i will fail or i will loss rather then making money .. they tell me demo is kinda scam (i will make profit rather then loss) bu in real account i will just loss it.. Please suggest me i should open or not.. I didnt attend any course of trading and learned alot from youtube.. will i be able to make profit?? Isnt it scam?? Thank u . Then
@alvin5816 5 жыл бұрын
Hi Karen, I trying to grow my account and I have a question, should my 1% risk always be with the current capital? Let say I am currently risking 1% of $10 and I won the trade, should the next trade be $10.10 since that is the new 1% of the current capital. As my account get bigger, $10 will no longer be 1% but will become smaller %. Should I risk $10 on every trade regardless of my current capital until the end of the month where I change my amount accordingly to the 1%. What is the best way of growing your account? Thank you.
@KarenFoo 5 жыл бұрын
Yes it should be current capital. You should watch my video on risk per trade
@geraldhabi7838 3 жыл бұрын
I thought forex is get rich way,bt uv made me know the truth of 3yrs.thnx this truth is very expensive to other metar s,they can't tell u this long time process.i appreciate en looking forward for mre learning from u
@stayinspiredandrevived6914 5 жыл бұрын
karen nice video thanks as always. Do you have tradingview account?
@KarenFoo 5 жыл бұрын
I created it a long time ago. I dont use it often
@hesamrahmati498 5 жыл бұрын
hi, Karen . Thanks for knonwlege and experience sharins. Could you please recommend some books for the beginner. Thanks
@KarenFoo 5 жыл бұрын
I've already done videos on that. Dont ask repeated questions please
@trollslayer6454 5 жыл бұрын
Hesam rahmati. Start with video one.
@geraldhabi7838 3 жыл бұрын
Am forcusing more on demo account
@kmold0033 5 жыл бұрын
I had no idea successful traders would still use a demo account, makes complete sense though. I also love that you brought up good investing is supposed to be boring.... very interesting concept I mean I wouldn’t want where I invest my money to be where I get an adrenaline rush from because I’d increase my chances of a risking lots and blowing my account... I’m still learning as much as I can before I go to a demo on TDameritrade with currencies (still new in the forex world), I’m just wondering where the fine line between liking the feeling of trading vs getting that thrill is... does that feeling of I like this a lot “calm down” eventually, and when do you know you need to take a step back ... that’s my big question lol
@KarenFoo 5 жыл бұрын
All good traders still need demo to practice
@XAUUSDGOLD404 5 жыл бұрын
Wowwwww! Awesome
@KarenFoo 5 жыл бұрын
👍👍👍👍
@rabiaafridi8146 5 жыл бұрын
Dear Karen, How to get your signals daily and what you say in last moments of your video? don't understand completely 25$ thing. Thank you for your wonderful videos and trading ideas. Love from U.A.E.
@KarenFoo 5 жыл бұрын
It's already written there so clearly that I don't provide signals.
@rabiaafridi8146 5 жыл бұрын
@@KarenFoo ok i understand but how can i join u? how can i follow your trades?
@KarenFoo 5 жыл бұрын
@@rabiaafridi8146 email my team (admin@karen-foo.com)
@darwinsarwono6772 5 жыл бұрын
can you do a video about backtesting? thanks
@KarenFoo 5 жыл бұрын
I'll take your feedback into account
@paradiseisland3352 3 жыл бұрын
I use both even though I use a 5k account live am always practicing
@ayupurnama7009 5 жыл бұрын
Thank you karen
@KarenFoo 5 жыл бұрын
You're welcome Ayu 😊
@christianpaolocastillon8790 5 жыл бұрын
Hello Karen.I have a question.Can we file.a case against our forex player who fails to give us our pay out ?
@KarenFoo 5 жыл бұрын
Hello Christian. Did your broker not refund your deposit?
@christianpaolocastillon8790 5 жыл бұрын
They promised to return our money back but until now they fail to do so.what shall i do now?
@KarenFoo 5 жыл бұрын
@@christianpaolocastillon8790 let me guess. Your broker isn't regulated by a trusted authority? Hmm there are actually companies out there that will help you deal with these scams
@blackpsalmmusic9180 4 жыл бұрын
This was not only super useful but funny af, thanks for the content, trying my best not to suck shit 😂
@XAUUSDGOLD404 5 жыл бұрын
So happy to have a mentor like Boss Lady Karen
@KarenFoo 5 жыл бұрын
Happy to have your support
@tawfiqabdulwahab4740 5 жыл бұрын
Video 📽 Wonderful thank you from all ♥ it .. I am currently started my demo account after 6 months I will try on live but in a small amount so as not to affect my soul in the case of lost. 🌹🌹
@KarenFoo 5 жыл бұрын
Take it slow and steady
@tawfiqabdulwahab4740 5 жыл бұрын
@@KarenFoo Your course has been purchased and I being start him. Happy new year 2019 🎉🎊🎉
@KarenFoo 5 жыл бұрын
@@tawfiqabdulwahab4740 all the best to you
@TheNesquik146 5 жыл бұрын
Im focusing on demo account, and that will continue till the end of 2019. 2020 let’s than make it real
@KarenFoo 5 жыл бұрын
Hustle is real 👍
@naturalmystique1237 5 жыл бұрын
such good points. Demo and reading massively. .. coz I know diddley-squat about forex😥
@jflebas1217 5 жыл бұрын
Dan Okero it's just up or down, nothing complicated 🤣🤣🤣
@naturalmystique1237 5 жыл бұрын
@@jflebas1217 o.i.c
@jflebas1217 5 жыл бұрын
Dan Okero I'm joking, forex is hard, but if you can learn programming is my best advice. You can BT strategies in your sleep
@jflebas1217 5 жыл бұрын
Then trade the strategies manually, because manually is always better if you have time
@naturalmystique1237 5 жыл бұрын
@@jflebas1217joking?! oh dammit jf le bas I was in the middle of burning my forex text books and looking high and low for your youtube videos to subscribe to stat.
@KarenFoo 5 жыл бұрын
Which one is your main focus now?
@saadchabaki26 5 жыл бұрын
Demo
@forexlifestyle2355 5 жыл бұрын
I'm focusing on demo account first
@deshawnmccl7852 5 жыл бұрын
Demo first but I’d say live because you’ll learn from your mistakes fast
@robertomontagner3058 5 жыл бұрын
Hello Karen , thank You ! Another great video for start my day . I am practicing with a demo account , I bought 2 books this month and ordered another 2 just yesterday ( recommended from your videos) . Not results for now , the way still long : )
@johnathangrey3463 5 жыл бұрын
Your big four job, health, side hassle and read more books.
@AhmedKhan-vs1qq 5 жыл бұрын
pls suggest best broker?
@KarenFoo 5 жыл бұрын
I've done a video on that already
@mahoya1232 5 жыл бұрын
Hahahahaa.... Great video
@KarenFoo 5 жыл бұрын
Thank you 😊
@Jeff_Thomas 2 жыл бұрын
#Damn this was funny
@forexlifestyle2355 5 жыл бұрын
I'm watching
@KarenFoo 5 жыл бұрын
👍👍
@muttaqinasanzida7822 4 жыл бұрын
The demo account I try first before start my real live trading in Forex. Since the demo account is the best and useful factor to learn Forex trading practically. Without any cost you can trade in Forex demo account. Forex4you broker I select to use the demo account because they give almost all the real trading tools in their demo trading platforms. I practiced there for six months continuously and learn properly about Forex trading.
@mrgenius166 5 жыл бұрын
Love from Pakistan ❤
@KarenFoo 5 жыл бұрын
Thank you 😄❤
@lindaarnold231 3 жыл бұрын
That's not too long 2 years.
@Drums4fun2011 5 жыл бұрын
No Karen, I will not stop watching your videos and I will never go back to work for any other boss besides myself! Lol
@KarenFoo 5 жыл бұрын
I appreciate your support
@saintman4468 4 жыл бұрын
The best way to learn trading is actually trading,demo is crucial for beginers as they can feel the environment and how easy is to lose money on a market,u can have 20positive trades and blow up everythin in one bad,however if u spend few months on a demo and become positive on a demo u should move to real market and feel it..use low risk,and build consistency once u do that scale the risk and profits..at the end of a day,trading is highly speculative but u can become amazing speculator,if u use proper risk managment and always plan a trade,in case somethin goes wrong ur bad trades wont affect u too much..its a process and skill that wll be developed throu a year or two if u r trading and learning consistently,majority of fails on a market comes from gamblers that dont have knowledge about trading at all..honestly im amazed by the oportunity that demo even exist it can save u thousands and thousand in that begining of ur learning...thank u Karen on great video
@KarenFoo 4 жыл бұрын
You're welcome. Thanks for sharing your thoughts
@johnathangrey3463 5 жыл бұрын
Mostly your videos. One at a time. Been trying to put every piece of information in my to go over it again and again.
@KarenFoo 5 жыл бұрын
Gotta keep taking good actions :)
@MrStrange1984 5 жыл бұрын
My main focus is practicing on demo account and i have been for more than 6 months now. Whenever i practice i use money that i could afford and try to use as small leverage as possile. The hard part for me is knowing what indicators/oscilators to use and on what timeframe and how to read them to get confirmations when to enter or exit a trade. But by looking back at my trading journal then i always see what i should have done but the hard part is knowing what i should do whenever it's time to place a trade again. It wil take time but hopefully i will get there someday.
@KarenFoo 5 жыл бұрын
You might wanna consider finding a mentor who can help you point out all that and shortcut your learning curve 😉
@trollslayer6454 5 жыл бұрын
How many haters can one take?
@KarenFoo 5 жыл бұрын
I just need to accept it
@trollslayer6454 5 жыл бұрын
@@KarenFoo Damage. I think its because you are the Holy Grail. 😎🇺🇸😉
@KarenFoo 5 жыл бұрын
@@trollslayer6454 and you're the holy grail bodyguard ☺
@trollslayer6454 5 жыл бұрын
@@KarenFoo ☺😏😁🇺🇸😎 wow. Please don't forget Ninja won. Back on the hunt.
@sulayman7w 3 жыл бұрын
U should get married
@KarenFoo 3 жыл бұрын
U should get some brain cells. And also get a life coz you probably dont and just live typing on your keyboard judging people who is 100x more successful than you you clown. What a pity that u live that way 🤣🤣
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