Is conditional updated in realtime?

I wan’t to hide the submit button until I enter a “1” in the password field ( REQ_FIELD{4}).

I have created a custom field, with id 4. The field type is text and it is required.

In the form I have:
<tr><th scope=’row’>Password*:</th><td>#REQ_FIELD{4}</td></tr>

Further down I have a [eme_if] clause.

[eme_if tag=’#ESC_FIELD{4}’ contains=’1′]
<p>Show this text if FIELD{4} contains a “1”</p>
[/eme_if]

I can’t get the “Show this text …” to show if I add a 1 to the field with id 4.
Am I using the conditional the right way?

In the Event page there is a section: “Dynamically show fields based on a number of conditions”. Could this the way to go? I can’t find anything about ‘Dynamically show fields’ in the documentation.