There is at least one broker, which allows trading even with a smaller lot size than 0.01 lots (1 microlot). Maybe that could be a solution? If you can keep trade sizes very small you can regard it as a hobby until you become profitable. Be resilient and limit your losses. If you can't keep yourself in check probably then it is better to stay in demo. Or not trade at all.
niceGLer posted: There is at least one broker, which allows trading even with a smaller lot size than 0.01 lots (1 microlot). Maybe that could be a solution? If you can keep trade sizes very small you can regard it as a hobby until you become profitable. Be resilient and limit your losses. If you can't keep yourself in check probably then it is better to stay in demo. Or not trade at all.
Yes that should be step after demo Small account at oanda or some cent broker.
0.01Lot is small enough. If you go smaller than that then you might as just use a demo. The point of a micro account is to give you the feel of really having money at risk (even if it is small). If you has 0.001 Lot then that is so small that no one would care and it would be same as demo
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.
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.
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.
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