To use chat, please login.
Back to contacts

How long on a demo account

Apr 21, 2018 at 12:17
6,699 Views
213 Replies
RedKabin (redkabin)
Member Since May 16, 2020   5 posts
Jul 26, 2020 at 23:48
NULL; you should only use a demo account to understand how trades are placed, edited, stop losses and profit stops are placed and to get an overall understanding of how your broker works, margin, required margin, cut off margin, equity vs balance etc.

demo doesnt give experience it gives false hope.
once youre accustomed to how everything broker wise works, and youre up to date on chart patterns, news etc then go live.
Member Since Jul 27, 2020   102 posts
Jul 27, 2020 at 06:29
I remember taking almost 9 months trading in demo account because I want to make sure if I was able to make a consistency profit before taking on the live account. I will say that it would be good if are able to make the consistency in less than a year. It is not bad if it is over, but you should be making the consistency and able to strategize in risk management.
mrnewtrader (yasernabavi)
Member Since Apr 07, 2020   9 posts
Jul 27, 2020 at 07:17
cardigan posted:
I remember taking almost 9 months trading in demo account because I want to make sure if I was able to make a consistency profit before taking on the live account. I will say that it would be good if are able to make the consistency in less than a year. It is not bad if it is over, but you should be making the consistency and able to strategize in risk management.

It's ok, but my question is how I can test my strategy?
Is there any thing to do it?
Trading Is My Point Of view
Member Since Jul 27, 2020   81 posts
Jul 27, 2020 at 15:27
You must learn how to profit from the market, and do it consistently.
Member Since Apr 01, 2020   231 posts
Jul 28, 2020 at 00:28
You must trade on demo account for atleast 6 months and learn how to make from the market and how to make new sterategies and plans to move good in real account.
Member Since Feb 07, 2020   41 posts
Jul 29, 2020 at 10:00
There is no specific time frame for the usage of a demo account. It completely depends upon the trader how long he wants to stay on a demo. I think a trader must not leave a demo account until he gets fully assured about trading.
Member Since May 14, 2019   28 posts
Jul 29, 2020 at 16:51
It often takes about 3-4 months to trade on a demo account. This period is enough to allow you to adapt, learn the strategies and types of trading that are suitable for you. But I believe that this period should be regulated by each trader individually. The main thing is that you feel confident in your decisions and get the right amount of experience for real trading.
mrnewtrader (yasernabavi)
Member Since Apr 07, 2020   9 posts
Jul 29, 2020 at 16:57
Thank you all for your answers.
But you know I don't have a comprehensive trading system and it makes me nervous about future.
I like to do it simple as I can but this system that I have does not work after 5 months.
Trading Is My Point Of view
mrnewtrader (yasernabavi)
Member Since Apr 07, 2020   9 posts
Jul 30, 2020 at 08:16
Shelby10 posted:
You have to use the demo account till you make perfect for the live trading. When you realize that you can make money from this market, you can move to real account form demo account.

I know it by my problem is with my sysytem. I don't know how to choose a prfoitable Startegy.
Trading Is My Point Of view
Member Since Jul 19, 2020   34 posts
Aug 04, 2020 at 09:15
You should use the demo account till you learn all the basics of forex perfectly. You have to be experienced enough to make profitable strategies and minimize your risks with your experiences. After having all these qualities you can quit demo account and move to the real account for earning money.
WINNINGS (NzeCapitalTrades)
Member Since Jun 21, 2020   59 posts
Aug 04, 2020 at 09:53
Even as a professional trader, I still use Demo till date, only the difference is that trades to my demo are now copied from Live accounts, I don't like displaying live accounts, I best trade it privately.
NO EMOTION DURING TRADING.
Member Since Jul 20, 2020   298 posts
Aug 26, 2020 at 02:47
Demo trading is mandatory for new traders. Because if you want to make a profit, you have to do demo trading. If you don't do demo trading, you have to go through a lot of trouble to know about the basics. Demo trading should be done as long as you are not making a profit in demo trading. But I think you need to do 5-6 months of demo trading and between demo trading, you have to learn from different websites online.
Member Since Aug 14, 2020   40 posts
Aug 26, 2020 at 07:50
I think demo account really gives a push to new traders. But how long that one should decide. It may be one month or 3 months etc.
Member Since Aug 26, 2020   78 posts
Aug 26, 2020 at 10:02
I traded for several months on a demo account of the Amarkets broker in order to study the platform in more detail and test my skills.
Member Since May 13, 2020   128 posts
Aug 27, 2020 at 14:20
The most important thing is not to switch to a demo account, because then it is psychologically difficult to switch to a real account.
Malokelv (Malokelv)
Member Since Apr 27, 2019   22 posts
Aug 30, 2020 at 14:02
It seems to me that you should continue to trade on a demo account and gain skills and experience. Three weeks is not a long period for a demo account. I recommend trading on a demo account for more than three months until you get rid of ridiculous mistakes and are more confident in your trading. Then you can open a small account and trade with small investments. By trading in a real micro account, you will learn to control your emotions and be calmer in trading.
Member Since Sep 08, 2020   32 posts
Sep 11, 2020 at 11:11
3 months approx.
Member Since Aug 07, 2020   75 posts
Sep 12, 2020 at 05:30
It seems to me that 3 months is an approximate period, and you will need to be guided by how you feel during trading and how ready you are for real
Member Since Jun 19, 2011   5 posts
Sep 12, 2020 at 16:56
double demo account 5 times, with hand writen reasoning for each trade, outcome, daily journal
Pegima (pegima)
Member Since Sep 13, 2020   22 posts
Sep 13, 2020 at 08:49
I have traded in a demo for about 2 months then moved to live account but whenever I want to test something new, I will test that in a demo account before trying that in a live account. My suggestion for any newbie is to trade in a demo account until you start to make a decent profit, then move to a smaller live account. Then you can gradually increase the lot size based on your level of success.
Never Ever Give Up
Sign In / Sign Up to comment
You must be connected to Myfxbook in order to leave a comment
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.