Demo trading

6-12 months in demo and later open real

I think that is too long. I trade demo for 12 months and had big problem when I went live. I wish I had gone live sooner but onto a micro account with low leverage. That is a much better way to understand how the markets really work

3-6 months in dome, i agree. and when i do not have a large acount, dome is a good choice for me to test my strategy.

I also think 3-6 months is enough. Then move on to micro account for at least 12 months. That is a better way to learn. It is easy to forget the lessons from losing 200 demo pips but when there is real money at stake (even a small amount) the losses will be remembered and solutions found

For me, the demo is supposed to be for those who are really really a beginner trader whereby you need to familiarise with the mt4 platform itself like eg; how to buy or sell. how to sell limit or buy limit etc. And also to test out the strategies that you like. Ones you are comfortable with the MT4 platform and your strategy is working then you can start trading live account. Ones you enter live account than another problem coming in, emotion. Yes, your emotion is the killer. be disciplined and manage your risk/money. Most of all, be patient.

Totally, demo is just to get familiar with platform not to learn trading for real. That can only be done with a real account. I think demo is waste of time if you are serious about trading. Get a real account and get the feeling of having real money on the line

first better loss money in demo and later if you have experience you can start with real account

MontaBill posted:
Totally, demo is just to get familiar with platform not to learn trading for real. That can only be done with a real account. I think demo is waste of time if you are serious about trading. Get a real account and get the feeling of having real money on the line

I agree that you need to trade real money for real practice, especially with emotions but demo trading is vital to develop winning strategies.

Demo helps beginners navigate the mt4 system including utilizing trading technical s and strategies. But more importantly you want to trade with the smart money so learn to read COT reports to add to your trading strategy. YouTube how to evaluate the report.

I find problem that most broker only have demo for 14-30 days. Do you know which brokers have demo active for unlimited time??

Yes, I agree with your approach. A trader must trade in demo account because though it is a virtual thing, it prepares for the real forex market. The demo account is very helpful if you trade thinking the money you have in this account is real. In order to avoid loss, we must trade in a demo account to learn about the trading styles and strategies. With the demo account, we can learn about making profit and losses by setting different leverage, SL/TP, margins. You get to know about spreads, broker’s commission, swap charges on different instruments. You are able to get the scenario of a market in a better way that too without losing a penny. Once you get comfortable with market conditions and volatility, you become confident about your own trading styles and strategies you can continue to trade on the live account. However, a demo account is not only for newcomers, but you can also always make trades on the demo account before executing them on the live environment to get the clear version.

Do you think that a demo account is needed if you are using a Forex robot? I assume that if I buy a good Forex robot then it will be good to go straight on a live account?

I think it is. So many robots are junk. You need to try it on demo first to make sure it will not wipe out your account. Use demo for 1 or 2 months and then try a real account on a small Lot size. Play it safe is the best way

Pacifico posted:
Do you think that a demo account is needed if you are using a Forex robot? I assume that if I buy a good Forex robot then it will be good to go straight on a live account?

A demo account is equally important for testing a robot. The trick is knowing a good robot vs. a bad. If it's a commercial robot you can't go by their web page. ALL robots claim they will make MILLIONS with ZERO risk!! Even if you get one with good reviews on 3rd party sites, like MyFXBook, you'll still want to test for several months minimum. I know of no robots that don't have a weakness. The difference between a good robot and a bad is how easily that weakness is manifested.

ForexScreamer posted:

Pacifico posted:
Do you think that a demo account is needed if you are using a Forex robot? I assume that if I buy a good Forex robot then it will be good to go straight on a live account?

A demo account is equally important for testing a robot. The trick is knowing a good robot vs. a bad. If it's a commercial robot you can't go by their web page. ALL robots claim they will make MILLIONS with ZERO risk!! Even if you get one with good reviews on 3rd party sites, like MyFXBook, you'll still want to test for several months minimum. I know of no robots that don't have a weakness. The difference between a good robot and a bad is how easily that weakness is manifested.

I never believe all that marketing BS...if your robot makes millions why are you sharing it for £199 LOL

There are some robots that work but they are the ones advertising good but not ridiculous results. It is usually easy to identify the scam websites because they claim they will make you a millionaire and have a 100% win rate. I would much rather use an EA that claims a 60% win rate and a few hundred pips a month. That is more likely to be the real deal

3 months on demo is fine
as long as you have consistent results

Demo account generally is more appropriate to ensure the basic fundamental market experience which is very supportive to continue a live account in a proper way , but not appropriate to make sure brokers performance but shortly you can understand how the broker works.

Mohammadi posted:
The demo account is really important for all kinds of traders in particularly the newcomers. in my trading career, after passing a long time I still depend on demo account for some inevitable reason, I use all my trading strategies first of all in demo account to see the performance how it works. this approach always helps me for avoid risk in live account when trading practically. What is your experience in demo ?

yes, great...i think like this and i m doing demo for 2 yrs for buildup n correction my strategies n now i ready for real. Bcz i finalize my strategies. Every One must need to practice for long time for understand forex market...