Hello and question!

[Dallas]

I am interested in day trading and would like some advice on various free simulation/demo accounts that I could use to begin papertrading. Once I get comfortable in the demo account and I learn more about day trading, I would like to work with with a prop firm such as cy group and starting making real trades.

What I am looking for is an simulation/demo account that is going to be as close as it gets to real live trading and having a real account with prop firm/or general retail account. Meaning something that will give me access to stop/loss, p&l statements, etc.

I have seen a few places mentioned such as interactive brokers, infinity trading, ninja trader, etc. All I am looking for is something free that is very similar to the real thing. Thank you for the help.

[metalsguru]

for simulation/demo account, you may take a look to cmcmarkets, traderslog. it may help!

[Dallas]

Originally Posted by metalsguru

for simulation/demo account, you may take a look to cmcmarkets, traderslog. it may help!

Thank you!

More recommendations?

[brain22]

The purpose of demo accounts is to prepare you for this. Demo accounts are not only for traders to try out their forex trading strategies, but they are also dry-runs for the real trading execution. You should have gotten a feel of how the market moves and how it can affect your decision-making in your trading. Of course, a demo account does not involve real money. And sometimes, that may make all the difference in clouding your judgment. But you should trust your judgment and how you have developed and fine-tuned your trading strategy. Your trading system should be the solid foundation to back you up in every move. It would be better if you have it all written down so that you can easily go back to them whenever you feel having any doubts or confusion.

So, get online. Run your forex trading platform. Get yourself ready by reviewing your trading system and your trading strategy. Have your trading plan prepared for all the eventualities. And trust your system to work. You have tested that system over and over again. And you know that there is no perfect system that would never lose. So what if you lose in your first trade? The important thing is you trust your system enough that in the long-run, it would produce profitable results for you.

[OilFxPro]

Try Hotforex. What I like in this broker systems perform the same on demo and on live.

[Dallas]

So, get online. Run your forex trading platform. Get yourself ready by reviewing your trading system and your trading strategy. Have your trading plan prepared for all the eventualities. And trust your system to work. You have tested that system over and over again. And you know that there is no perfect system that would never lose. So what if you lose in your first trade? The important thing is you trust your system enough that in the long-run, it would produce profitable results for you.

Checked this out. What system should I start with. Manual or automated, any recommendations?

Thank for advices!

[OilFxPro]

Originally Posted by Dallas

Checked this out. What system should I start with. Manual or automated, any recommendations?

Thank for advices!

I prefer automated trading, less emotions and more fun. But to find good EA that fits you and your broker.

[salem]

you can open a demo account with any major broker you think that fits your needed features, if you dont have a clear Idea you can try 2 or 3 demo accounts and compare, I would recommend hotforex demo account its so close to the live one, just try it out.

[2012trader]

I am so glad able to join this forum.
many thread so useful.
I hope to meet some nice people and get involved in some interesting threads.

[Camilla]

real account is the same as demo account. The differenece is just wthether you trade with real or fake money.
Good luck with your trading!