How long on a demo account

demo account should be traded for 4-5 months only (according to me).

yellowman94 posted:
demo account should be traded for 4-5 months only (according to me).

Why do you think it should be that long?

dianajs posted:

yellowman94 posted:
demo account should be traded for 4-5 months only (according to me).

Why do you think it should be that long?

i am saying only for 4-5months. not more than that. if you are comfortable before that go for real account.

I agree. I also think that some people occasionally trade for longer than that. Different strokes for different people.

dianajs posted:
I agree. I also think that some people occasionally trade for longer than that. Different strokes for different people.

agreed.

Its different for the different types of trades. I believe there is no a unified period that should apply for all. To be honest I still keep my demo and test there my new EA on some new symbols that the broker is releasing – like the new cryptos ( I still can’t fully understand them ☹ )

yellowman94 posted:

dianajs posted:

yellowman94 posted:
demo account should be traded for 4-5 months only (according to me).

Why do you think it should be that long?

i am saying only for 4-5months. not more than that. if you are comfortable before that go for real account.

I think he means years!according to me

TiffanyK posted:
Its different for the different types of trades. I believe there is no a unified period that should apply for all. To be honest I still keep my demo and test there my new EA on some new symbols that the broker is releasing – like the new cryptos ( I still can’t fully understand them ☹ )

I have been trading for almost a decade and I still occasionally use my demo account too. Any time I want to test a strategy or examine a trading instrument I haven't used before, or just to train myself I turn to that account.

snapdragon1970 posted:

yellowman94 posted:

dianajs posted:

yellowman94 posted:
demo account should be traded for 4-5 months only (according to me).

Why do you think it should be that long?

i am saying only for 4-5months. not more than that. if you are comfortable before that go for real account.

I think he means years!according to me

i didn't get you. who means years?

You should continue to trade on a demo until you have 3 winning months in a row. Only then is it time to try a real account

I traded on a demo account even a little longer than that, but then again, every person is different.

I traded in demo for almost a year. Then I opened a live account with 50 dollars in it. I traded 0.01 lot size until i was comfortable enough to trade higher. I still use my demo account for practicing new strategies.
When I lose a trade I go back to demo and practice for at least a day before I open a new trade in my live account.

I give one tips to be a professional trader. Try to master and learn about Multi-timeframe... believe me, you will become profitable trader soon. Multi-timeframe is so mandatory and so Importat. Trader must know it. Learn candlestick behaviour and observed their reaction every timeframe and one more tips: Focus sell GJ until 140.3xx. Tq

What do you mean by multi-time frame? Is that when you get direction from daily but trade on 4 hourly etc?

I assume he means that a trader should know how to trade on different time frames, not just on one or two of them?

To analyze multi-time frame, you got to decide the order (buy/sell) after you analyse on not one time frame, but multi-time frames [15M, 1HR, 4HR, 1D etc]. doing this helps confirm the trend against the deceptive 5M timeframe.

Use longer one for general direction, use smaller one for entry point.

The demo account is the master place for a beginner to acquire all basic fundament information which is very supportive to continue a live account in a proper way. But practically most of the beginners don’t believe the importance of this trading place at all. In my trading career, I use all my trading strategies in demo trading to see the performance how it works.

Best to get a professional education before any live trading its well worth it.

How does a retail trader get a professional education!!! Only banks offer that kind of training and that is not available for the normal folks