How long on a demo account
Mitglied seit Feb 22, 2011
4862 Posts
Jan 24, 2019 at 14:40
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.
Jan 25, 2019 at 05:34
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.
Mitglied seit Feb 22, 2011
4862 Posts
Jan 25, 2019 at 07:28
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.
Mitglied seit Jan 21, 2019
16 Posts
Jan 25, 2019 at 09:42
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............
Mitglied seit Feb 22, 2011
4862 Posts
Jan 25, 2019 at 12:01
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
Jan 27, 2019 at 08:03
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
Mitglied seit Jan 21, 2019
16 Posts
Jan 27, 2019 at 12:46
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)
Mitglied seit Jan 05, 2016
1189 Posts
Feb 04, 2019 at 22:52
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.
Mitglied seit Sep 06, 2018
1 Posts
Feb 05, 2019 at 06:58
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.
Mitglied seit Feb 07, 2019
34 Posts
Feb 07, 2019 at 13:48
Just joined. How long do people recommend I should stay on a demo account for?
Feb 10, 2019 at 07:55
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...
Mitglied seit Feb 07, 2019
34 Posts
Feb 10, 2019 at 09:43
Looks like I have some demo to do then...……...
Feb 11, 2019 at 06:48
I understand the argument for longer periods of demo, but personally a small live account was the best practice for me.
I used a demo for a very brief amount of time, but it was not until I started a small live account that I felt I made any real progress.
Not only in my trading strategy which comes with time and practice but the biggest benefits of trading real money is learning how to manage your emotions when trading and developing the correct mindset.
I used a demo for a very brief amount of time, but it was not until I started a small live account that I felt I made any real progress.
Not only in my trading strategy which comes with time and practice but the biggest benefits of trading real money is learning how to manage your emotions when trading and developing the correct mindset.
Mitglied seit Feb 07, 2019
34 Posts
Feb 11, 2019 at 12:44
expkhaled posted:
i m doing demo for 2 yrs...now i think achieve some PA
Have you been consistently profitable?
Mitglied seit Sep 12, 2015
1948 Posts
Feb 11, 2019 at 12:57
Get professional education ,3 months on demo ,micro account then add to it as you progress.
"They mistook leverage with genius".
Mitglied seit Feb 22, 2011
4862 Posts
Feb 11, 2019 at 12:57
snapdragon1970 posted:
Get professional education ,3 months on demo ,micro account then add to it as you progress.
That is about right
Feb 12, 2019 at 07:10
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
