How long on a demo account
Feb 12, 2019 at 11:14
mrbeedles posted:
I traded demo for 6 months when I first started. Went through a bunch of trading courses, gurus, potions and failures. A small account helped me to really find my style, risk tolerance and trader mindset. Trading is 90% mental. The button pushing part is pretty easy. Take your time and find a good teacher. M3RD.net
I relate to this, great advice too about having a good teacher, was a key step forward ion my trading as well.
Member Since Feb 10, 2019
54 posts
Feb 13, 2019 at 07:30
Keep the demo account for practice
Member Since Jul 12, 2018
24 posts
Apr 01, 2019 at 08:05
AlHashim posted:
6 months on demo - followed by 6 months on micro - followed by 12 months risk only 1% account. After that you should be pro and know what doing. If not then give up and try something else
If you have that kind of a mindset you will never be successful in trading :) It's a lifelong learning pretty much, even the most experienced traders might face setbacks and therefore need to change their strategies etc.
Member Since Jan 05, 2016
1189 posts
Nov 11, 2019 at 00:55
OnTheEdge posted:
Demo accounts are for learning the platform, testing/backtesting, looking at charts to come up with ideas, nothing more.
Setup, your live account after you finish this 4th or 5th week, Get Everything exactly how you want it on your platform utilizing a demo AND than sign into your live account.
Trade the smallest size depending on your system, example; if you use multiple parcel close levels you could trade at .03 lots and close accordingly.
Nobody can on the web can tell you when you should go live.
LOL! You just told them to go live in 4th or 5th week. And then you said no one can tell someone to go live.
Sending some mixed information there.....
OnTheEdge posted:
What can be said is this;
You will never learn if you can trade on a demo account.
NONSENSE. ALL new traders should ALWAYS start on demo to learn to trade.
OnTheEdge posted:
You have to focus on your system rules not the win/loss or profit statement. ( Take screen shots of every trade, and notes of every trade.... search for 'TradeNote' or 'add complex notes to Metatrader 4' one of those is free the other a few bucks, best thing I ever added to MT4, if that's what you use.
Your Notes and screen shots should confirm you are taking trades PER YOUR PLAN!!!!!!
The Goal of your trading is to take All the trades All the time Per Your Plan, NOT TO MAKE MONEY!!!! The OUTCOME of following your Plan is Money.
Taking ALL the trades all the time? That's horrible advice.
ONLY trade to be profitable and adhere to STRICT risk management rules.
OnTheEdge posted:
Do not chase system after system, or buy into all the snake oil salesman trying to sale you the next great thing or convince you your mentally imbalanced and need their 3000$ course to get your head straight, what BS.
[/quote
Hey! We agree on something! Hooray! Paying $3000 for a trading course is absolutely a waste of time.OnTheEdge posted:
Your going to have Losers that's part of the game, trading small and building up your size is how you stay in the game for the long haul.
This is a marathon not a sprint!
Absolutely agree with you on this point.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Nov 11, 2019 at 11:18
As long as one can. It is a demo account and the main purpose is to demonstrate on how the real account would work. The period of practice depends on the various factors. If you are confident enough to trade well in real account and is able to make the profit, that is when you can stop using the demo account. Well, at least to me.
Member Since Sep 11, 2019
10 posts
Nov 11, 2019 at 13:25
rickyb posted:
never stop testing on demo;even when using real money..practice makes perfection.!!!!
Even the pros test new strategies and techniques on a demo. A demo is for life , not just for beginner
Member Since Nov 06, 2019
48 posts
Nov 11, 2019 at 22:41
It’s already been said but I used a demo account until I was 6 months profitable. You will get better experience once you’re risking real money due to the emotions behind it but demo accounts are great for testing new strategies.
Winning...
Member Since Sep 16, 2019
11 posts
Nov 18, 2019 at 12:07
Trade for as long as you think on a demo and then add 2 more months!
Nov 19, 2019 at 12:10
i personally think you should use demo for not more than 6 months. Demo can be used for evaluating how you trade your strategy before jumping into a real trading account but with small lots till you feel confident enough to increase tha account and lot size. Demo will not make you a good trader because emotions are not involved since real money is not used.
Never Stop learning. Ego is for losers.
Nov 20, 2019 at 07:01
Basically demo account trading is not realistic enough as you are not using real money and you don't have any emotional connection with the money because its dummy and it dosent matter either you loose the amount but if you have some money in the liv account you have actual emotional connection you have a feel how market goes but still I would suggest to start with demo account because it will build your decision making power once you master in it you can go with real money and that will actually teach you how to handle the risk and your emotions of fear.
Revenue is vanity, profit is sanity, but cash is king
Nov 30, 2019 at 13:50
Demo is a tricjy thing. I think you should stay demo no more than 2 weeks. It's enough to learn trading and go to cent fx acc. If someone stays more, he risks to miss learning how to control emotions, as demo doesn't involve moral trial...
Member Since May 06, 2020
6 posts
Jul 09, 2020 at 06:13
chesterjohn posted:Everyone has a different speed of learning. I took 3 months to practice on demo account and starting trading with my own funds after that.
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?
Jul 09, 2020 at 06:17
Draggyr posted:I agree that emotions cannot be tested while on a demo, but as far as my perspective is concerned, I think 2 weeks of demo trading might not be enough for most of the traders.
Demo is a tricjy thing. I think you should stay demo no more than 2 weeks. It's enough to learn trading and go to cent fx acc. If someone stays more, he risks to miss learning how to control emotions, as demo doesn't involve moral trial...
