THIS ARTICLE WILL SHOW YOU THE IMPACT OF A BINARY OPTIONS DEMO ACCOUNT ON THE PSYCHOLOGY OF A TRADER. YOU WILL UNDERSTAND WHY, MANY PEOPLE, HAVING STAYED ON A DEMO ACCOUNT, WILL NEVER MAKE MONEY. LEARN HOW TO DEAL WITH DEMSCHIK SYNDROME AND HOW TO BECOME A TRADER
A demo account of binary options is given by some binary brokers immediately, some of them make it possible to trade on a demo only after a deposit, there are also those who do not “have” such types of accounts at all.
Recently I found an interesting article on one of the English-language resources on binary options trading and decided to share it with you. I hope this article will help you increase your earnings.
A trader with about 3 years of experience and trading experience ONLY on real accounts says that after a 2-month period of trading according to the strategy, he reached the effectiveness of 73% on rates. This led him to start earning constantly and withdrawing money from his broker. Starting to trade always with the initial amount, and increasing it by 3 times, he took part leaving 150% of the initial deposit.
DEMSCHIK SYNDROME – IN TRADING, USED TO IDENTIFY PEOPLE WHO HAVE NOT USED FREE BINARY OPTIONS ACCOUNTS CORRECTLY FOR A LONG TIME. DURING USE, FORMING A DIFFERENT AND DISTORTED REALITY OF FINANCIAL TRADING.
Everything would be fine, but one day the manager called him and said that they had made a new platform for demo accounts of binary options. On which he can test and improve his results.
Our trader, interested, free and risk-free trading, decided to improve his trading strategy and model.
Sharing his impressions of trading on a demo account with binary options, he said that the platform corresponded to all the best qualities, the quotes were the same as on the broker’s real account.
“I started testing my strategy on a binary demo account with my broker, and I did it for 4 months. My results on the demo account showed an increase in profits. I started getting 81% positive trades consistently. I thanked my manager for the binary demo account and for the opportunity to increase my “DEMO profit”.
After four months of trading on a demo account, I changed my binary strategy.
To my surprise, the results on the real account were negative, I began to lose my deposit. Doing a daily analysis of trades, I could not understand why I was losing money?
Read all about : Binary Options Demo Account
After a month of trading in the red, I decided to return to trading on my old and proven binary strategy. It seems that I did everything as before, but my minus continued to grow! I was losing money. My trades did not differ from the previous ones, but for some reason I no longer earned, but lost money every day!
My wife advised me to take a break for a month and then return to trading.
Not dealing with binary tors for a month, I did not watch the news, did not read the calendar – I rested.
Returning a month later, my deposit began to grow. I was shocked. I didn’t change the strategy , I traded as before. ”
Impact of Demo Binary Options Account Conclusion
We decided to collect the conclusions of this trader and this is what happened:
- Trading on a demo account, you lose the reality of trading
- The proportions of transactions to the deposit are changing
- Fear disappears and unfounded confidence appears
- Mistakes are not recognized
- The demo account did not correspond to the real amount, after a month of trading, the desire to earn 10,000 from one transaction grows.
- Disproportionate risk management
- When trading on a demo account, the discipline of trading and the attitude to trading completely change
Our conclusions:
Improper use of a demo account, or as beginners call it, a free binary option, leads a trader to a distorted vision and understanding of the financial market and trading in general. Traders lose proportionality, fears and risks. Therefore, in order to start earning, you need to clearly understand WHY YOU NEED A DEMO ACCOUNT.
A demo account exists to learn a new trading platform
You can’t train on the demo for a long time. It is better to trade and lose on the minimum real binary accounts. Pay for tuition!
If you have a working binary strategy that brings you results, do not change it. Treat the changes as a new strategy, it will be easier for you to return to the previous trades.
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