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Is demo trading enough before real account?

simon1825 (simon1825)
Oct 07 2016 at 07:51
24 messages
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.

togr (togr)
Oct 07 2016 at 08:24
4862 messages
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.

flipper58
Oct 07 2016 at 10:39
16 messages
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.

montreal
Oct 25 2016 at 13:52
12 messages
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.

RPatell (RPatell)
Oct 26 2016 at 07:19
64 messages
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.

RPatell (RPatell)
Oct 26 2016 at 07:19
64 messages
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 😄

lee42747 (lee42747)
Oct 26 2016 at 09:02
49 messages
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!

GFernandez78 (GFernandez78)
Oct 27 2016 at 06:19
35 messages
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!

Trading is like football - if you don't practice you can't win the game!
Bohdan73 (Bohdan73)
Oct 28 2016 at 13:16
51 messages
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

Trade with determination!
kricka
Oct 29 2016 at 15:01
92 messages
Testing a strategy, an EA or a cBot on a demo account first, is a must. The length of the test can vary but 2-4 weeks seems to be enough before going live. If the trader is new to the FX market an initial 2-3 month is needed to learn the trading platform before even thinking of using robots to execute trades.

" Lock in the profit and minimize the draw down "
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