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How long on a demo account

nick3232
Jan 27 2019 at 08:18
162 posts
if your're not willing to loose a big bunch of $$ (cause that's what it takes in order to have a chance to belong to the 5% successfull traders) stay on demo,one thing is sure you gonna loose big time

johngerwin
Jan 27 2019 at 12:46
16 posts
togr posted:
johngerwin posted:
togr posted:
johngerwin posted:
togr posted:
chesterjohn posted:
How long did you spend on a demo account before going into real trading?

I've been trading 3 weeks on demo accounts. It's 2 different accounts because I started a new one to replicate exactly what my real account will be, the other is now a mess about account to play with.

I've got 3 consecutive profitable weeks totalling about 16% with 6% dd. I'm keen to get started, but still making to odd silly mistake. How does my record sound to people who are experienced?


General advice is
average trader should stay on demo FOREVER in order not to lose real money.
As vast majority of traders are losers.


lol I haven't heard that do agree in that there is no point trading live until you are consistently profitable on demo


That is so true. Simple advice worth much more than $2,000 forex course.
Stay on demo until you are profitable and consistent for at least 3 months.


Don't even get me started on forex courses............


A lot of newbiews waste money with them


I am starting to read that(new to forums)

Molly141
Feb 01 2019 at 10:11
25 posts
I will stay on demo until I am profitable on demo. Going live atm scares me lol

johngerwin
Feb 01 2019 at 11:49
16 posts
Molly141 posted:
I will stay on demo until I am profitable on demo. Going live atm scares me lol


No need to rush Molly.

CheCheChe
Feb 04 2019 at 12:37
12 posts
Don't wait too long. It is good to have a long time on demo but if you are scared about live then you really need a micro account to get over the fear

Professional4X
Feb 04 2019 at 22:41
1189 posts
Molly141 posted:
I will stay on demo until I am profitable on demo. Going live atm scares me lol


If it were my account, I would stay on demo with an initial investment comparable to what will be invested in my real trading account.

If $1000.00 US is invested in a real account, then that is the same amount the demo account should have in it.

Also, the real account should be with the same broker that the demo account is with.

Both accounts (live and demo) should be identical in configuration.

Example:
Demo: Standard account with $1000.00 + 1:50 leverage through the Oanda US office
Live: Standard account $1000.00 + 1:50 leverage through the Oanda US office

By doing it this way, if a trade system is consistently profitable on demo, when the system is switched to the live account, the trading experience from the broker should be very similar providing of course the market conditions have remained the same.






If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X
Feb 04 2019 at 22:52
1189 posts
CheCheChe posted:
Don't wait too long. It is good to have a long time on demo but if you are scared about live then you really need a micro account to get over the fear



Pushing a new trader to trade a live account just to get over the fear of trading a live account, is honestly just horrible advice.

A new trader should stay on demo until they are comfortable with their trading skills.

There is no need to rush into a live account.


If it looks too good to be true, it's probably a scam! Let the buyer beware.
The Speculateur (TheSpeculateur)
Feb 05 2019 at 06:58
1 posts
Once you have a good feel on operating the platform and at least have a good system which you've verified yourself by demo, then you can start opening a small account. The fastest would be around 1 month.

Think Independently.
dylanjessop
Feb 07 2019 at 13:48
34 posts
Just joined. How long do people recommend I should stay on a demo account for?

Bongotrader (expkhaled)
Feb 10 2019 at 07:55
21 posts
BaldoN posted:
Till the time you find a really working strategy and stable profit, which could be continued on live :)


I think demo account for life long. Bcz sometime needed check your system n build a fine tune system etc. At first need at least 1-1.5 year need practice with all system and build a reliable strategy what you can understand easy way. Before trade Forex need some experience, By demo trade you can get it.

Day by day having better, better and better...
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