Resolved Question
How realistic is an Oanda dummy account???
over 3 years ago
Best Answer - Chosen by Asker
An Oanda dummy account (FX Game) allows you to practice trading using the actual rates in the market so I'd say its very realistic. You'd be trading under real market conditions, with real prices and spreads.
If you're new to forex trading and you want hands-on practice with little or no pressure, then you can first see how well you can fare through Oanda's FX Game platform.
over 3 years ago
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Answers (3)
The only difference I see with Oanda Game and real account is that the game lacks emotions. It is very easy to hold onto a trade longer when you have nothing to lose, as opposed to losing real bucks on every pip. If you can separate your emotions, fear & greed and treat the game as a real situation, much better.
over 3 years ago
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In my case I initially thought Oanda's game was very easy but come my real account --- i blew it up! Try to control your emotions, I suggest you open a very small account with like 50-100 dollars and trade that if you want to get some more realistic practice. This could help you prepare when you decide that you want to invest more money in trading.
over 3 years ago
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I really don't like that trading demo idea mainly because"You cannot make money in demo mode." Though of course it could help you as a solid form of preparation.Try to determine those microscopic risks which will do you more good than spending lots of time in demo mode. Because as soon as you put real money in the real world, all of a sudden your trading IQ will adapt as well as your commitment to what you are doing.
over 3 years ago
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