Is demo trading enough before real account?

I don't know why you want to stop demo account in the first place.
You should always try your new strategies there.

idimitrov posted:
I don't know why you want to stop demo account in the first place.
You should always try your new strategies there.

I think that should be all but mandatory in any serious trader's book. It's not a good idea to test a new strategy directly with real money, but I am also not sure that anyone who has a passing understanding of Forex does it. It's just not worth the risk. Test the new strategy on demo, if it's successful test it on a live account with a smaller lot if and when possible, then move onto your regular trading.

I tried demo first before i started trading. For about 6 to 7 month of demo and 3months of education. For me it really helped a lot with emotion because i treated it like a real account if i lost money i felt i am losing money realistically. When i felt profitable and comfortable enough to trade live i started one. Come check me out. Study Fib ratios, Elliot Wave principle minor in W.D Gann :) Along with some other indicators. Oh and I also still demo trade to win big with paper money. Give me motivation of whats to come in the near future :)

I don't think I could ever treat demo exactly the way I treat the live account. Subconsciously I'd always know that I am not risking any money, so even if I were the trade in the exact same way (which I do) that added stress just wouldn't be there.

Defining your strategy under 'ideal' conditions and then switch into usual conditions following with amandments to your strategy - that is what I believe to trade demo and then Real

Clert posted:
Defining your strategy under 'ideal' conditions and then switch into usual conditions following with amandments to your strategy - that is what I believe to trade demo and then Real

I don't know whether I'd call a demo acount 'ideal' conditions - the market is the same when you trade on a demo account.

mlawson71 posted:

Clert posted:
Defining your strategy under 'ideal' conditions and then switch into usual conditions following with amandments to your strategy - that is what I believe to trade demo and then Real

I don't know whether I'd call a demo acount 'ideal' conditions - the market is the same when you trade on a demo account.

Here in first of all I meant execution speed under 'ideal' conditions. Though quotes are the same, small delays in execution can show you tough times :D But it is just top of an iceberg. Real fun begins when you take psychology chalenges of live trading.

Clert posted:

mlawson71 posted:

Clert posted:
Defining your strategy under 'ideal' conditions and then switch into usual conditions following with amandments to your strategy - that is what I believe to trade demo and then Real

I don't know whether I'd call a demo acount 'ideal' conditions - the market is the same when you trade on a demo account.

Here in first of all I meant execution speed under 'ideal' conditions. Though quotes are the same, small delays in execution can show you tough times :D But it is just top of an iceberg. Real fun begins when you take psychology chalenges of live trading.

Ah, in that case I agree. And then there's the part with the requotes, which some brokers seem very fond of.

Demo trading is enough if you have learnt about the trading platforms, developed your trading skills, have knowledge of how to trade, how to use technical indicators, candle stick trading, fundamental analysis. Trading in real money is different from demo trading. Emotions are different and loss will be real. If you think you are confident, can control your emotions, and prepared for the loss also, then surely you can go for a live account. But start with a low amount so that once you develop your own trading strategy and getting returns then you can go for a higher amount.

lucie_fxtrader posted:
Hi all,

As a new trader I am trying to develop strategies in demo accounts before registering for real accounts. Is this enough though for me to be ready to enter the real markets?

Thank you!

Its easy, does your demo trading provide great results?

If you trust your strategy, always go live directly. If you do not trust your strategy do not trade it.

It is better to lose hundreds or thousands or millions in learning then losing time on demo. What works in theory will work in practice. That is for sure.

This is how successful traders are doing it. I have never traded one second on demo account and never would. This is like asking if you should learn how to have sex on a plastic woman or a real one?

Do not listen to 99% of people telling you to try anything on demo. They are not successful ones. Lose money or lose time. First one gives you experiences, second one gives you nothing at all. Winning and losing on demo is useless.

I have lost thousands of dollars (not much really) before I started profiting and I would lose 10 times more if I would. Nothing more important than that.

simon1825 posted:
If you trust your strategy, always go live directly. If you do not trust your strategy do not trade it.

It is better to lose hundreds or thousands or millions in learning then losing time on demo. What works in theory will work in practice. That is for sure.

This is how successful traders are doing it. I have never traded one second on demo account and never would. This is like asking if you should learn how to have sex on a plastic woman or a real one?

Do not listen to 99% of people telling you to try anything on demo. They are not successful ones. Lose money or lose time. First one gives you experiences, second one gives you nothing at all. Winning and losing on demo is useless.

I have lost thousands of dollars (not much really) before I started profiting and I would lose 10 times more if I would. Nothing more important than that.

Advice from a guy without single profitable account
Dont follow it
Use demos to test strategies for a while. If it works switch to real and keep trading it as before.

I've no idea why someone would say trading demo is a waste of time. It's great when you first start for learning your chosen trading platform or testing systems you've either created or picked up from somewhere. It's good practise without risking real money but it's not the same as trading with a real account, when your hard earned dollars are on the line you will find your decision making process can be very different to trading a demo account.

I found it very beneficial to trade with a very small live account trading micro lots to start with ie $200 or there abouts. I doubt it will change too many lifestyles if you lose it and believe me, in the first few years you are going to make a heap of mistakes regardless of how good you think you or your system is, it's just the nature of the beast. Don't become a Forex Factory story risking your life savings in the first few years.

After trading full time for the last 3.5 years I think the best advice I could offer is to find a system/method/time frame that you are happy with, suits your personality and then stick to it, don't do what many do and flip flop around from system to system, it's a recipe for disaster.

Just be aware that regardless of what forum people will tell you this endeavour takes a long time and a hell of a lot of work, if anyone tells you differently they're either short term gamblers or liars. Consistency in trading is a tough gig!

Am I making a fortune after 3.5 years full time, no. Am I consistent after 3.5 years full time, only in the last few months and it's it's been one hell of a battle to get there but you will find that success, more often than not, will come to people that refuse to give in.

Before going for real account you should assure that you have built the confidence necessary to do live trading because in real account actual money is at stake. You need to amass sufficient amount of market knowledge, how it works as well as testing trading strategies. Before going for live trading you can also try social trading, through which a person can copy the trades of experts onto their own account and can learn from their trades. Demo trading is essential as it helps to adapt to an ever-changing market but other factors like required trading skills, in-depth knowledge of market, reasons for price movement of instruments must also be considered before.

togr posted:

simon1825 posted:
If you trust your strategy, always go live directly. If you do not trust your strategy do not trade it.

It is better to lose hundreds or thousands or millions in learning then losing time on demo. What works in theory will work in practice. That is for sure.

This is how successful traders are doing it. I have never traded one second on demo account and never would. This is like asking if you should learn how to have sex on a plastic woman or a real one?

Do not listen to 99% of people telling you to try anything on demo. They are not successful ones. Lose money or lose time. First one gives you experiences, second one gives you nothing at all. Winning and losing on demo is useless.

I have lost thousands of dollars (not much really) before I started profiting and I would lose 10 times more if I would. Nothing more important than that.

Advice from a guy without single profitable account
Dont follow it
Use demos to test strategies for a while. If it works switch to real and keep trading it as before.

I would add that on demo there is no real execution, thus, no slippage, which if you trade during news can have a significant impact. Otherwise it is definitely the best option to always use demos first to test. Even if you have a real account with your broker.

If someone has really what it takes in terms of knowledge of the markets and the right attitude, I believe demo account is just enough before going live. Many already commented on the importance of learning the basics and getting the right psychology factor 😄

So far experience has shown me that if you manage to double 2 or 3 demo accounts, then it is most likely that you will manage to double 1 real account. However everything mainly depends on how close is the Demo account to the Real account environment. Some brokers are providing Demo accounts, however they are having complete different options than the real accounts, so be careful!

flipper58 posted:
I've no idea why someone would say trading demo is a waste of time. It's great when you first start for learning your chosen trading platform or testing systems you've either created or picked up from somewhere. It's good practise without risking real money but it's not the same as trading with a real account, when your hard earned dollars are on the line you will find your decision making process can be very different to trading a demo account.

absolutely true, no one can neglect the importance of demo practicing!

hi guys, maybe a bit stupid question, but how long approximately a trader should practice on demo before start a live account? I know it depends on many factors, but would like to know your experience. Thanks