How long on a demo account

Farhan1 posted:
How does a retail trader get a professional education!!!

This is a commonly asked question, but the answer doesn't change.
How does a person learn to do anything at all?
By devoting time to learning the basic information first.

Farhan1 posted:
Only banks offer that kind of training and that is not available for the normal folks

Incorrect.

You don't need pay for any 'secret' bank trading techniques or some other absurdly expensive classes.

Just learn a solid foundation of the basics first and you can become a very good trader.

I have tried that for years (and so have many others) and I often feel like I am back to square one. I've tried S/R , scaling, momentum trading, pivot points etc etc. But none of it seems to work for me. There must be something else that works because some people are making money with this

I traded Stocks to begin with then I started to get interested in Forex, now I trade both ,did really well on Stocks that's why I still trade them ,did get a good education, Forex is much more difficult but it's not impossible once you understand it.

FuYating posted:
I have tried that for years (and so have many others) and I often feel like I am back to square one. I've tried S/R , scaling, momentum trading, pivot points etc etc. But none of it seems to work for me. There must be something else that works because some people are making money with this

All of those things you've mentioned S/R, Momentum, Pivots, and others..... Those are all technical indicators.

You've pointed out 'none of it seems to work for me'. it is important to be aware of this.

If relying on technical indicators alone could make people rich, then it would be reasonable to assume that there would be a lot more people making money with Forex.

If something isn't working for you, it's important to understand why it doesn't work.

 

If everyone is using the same indicators there is no edge , so you need to do something different to what 90% are doing , if you know most are using those indicators how can you use that to your advantage.

I've been studying Forex for years, but I'm reluctant to start without finding someone in my area who is an active trader that I can learn from. I live in Fairfax County in Northern Virginia outside of Washington D.C. If you are in my area please send me an email to [email protected]. Thanks.

3 months

Professional4X posted:

FuYating posted:
I have tried that for years (and so have many others) and I often feel like I am back to square one. I've tried S/R , scaling, momentum trading, pivot points etc etc. But none of it seems to work for me. There must be something else that works because some people are making money with this

All of those things you've mentioned S/R, Momentum, Pivots, and others..... Those are all technical indicators.

You've pointed out 'none of it seems to work for me'. it is important to be aware of this.

If relying on technical indicators alone could make people rich, then it would be reasonable to assume that there would be a lot more people making money with Forex.

If something isn't working for you, it's important to understand why it doesn't work.

 

I had similar problem, I use all those things and still couldn't get it FX to work for me. Do the pros use these things or something else? Forex seems to be a riddle to me

GangYanny posted:

Professional4X posted:

FuYating posted:
I have tried that for years (and so have many others) and I often feel like I am back to square one. I've tried S/R , scaling, momentum trading, pivot points etc etc. But none of it seems to work for me. There must be something else that works because some people are making money with this

All of those things you've mentioned S/R, Momentum, Pivots, and others..... Those are all technical indicators.

You've pointed out 'none of it seems to work for me'. it is important to be aware of this.

If relying on technical indicators alone could make people rich, then it would be reasonable to assume that there would be a lot more people making money with Forex.

If something isn't working for you, it's important to understand why it doesn't work.

 

I had similar problem, I use all those things and still couldn't get it FX to work for me. Do the pros use these things or something else? Forex seems to be a riddle to me

You have to do both to get some results.
Check my profile to see how technical indies could work with support of fundamental analysis.

TA is the last step in the process of Trading , the market doesn't move because of some fib level or what ever indicator ,deals are made at prices that the professional side want ,supply and demand or political change ,if you don't understand the market structure its going to make it really difficult on yourself.

snapdragon1970 posted:
TA is the last step in the process of Trading , the market doesn't move because of some fib level or what ever indicator ,deals are made at prices that the professional side want ,supply and demand or political change ,if you don't understand the market structure its going to make it really difficult on yourself.

probably one of the most important things I have every read in a forum. Real traders think about what is behind the curtain and don't expect price to reverse when moving averages cross over!!

Hi everybody!!1 I'm trading on demo account for a 5 months, but still not sure that I could start to trade with real money. What is the indicators of success exept money? What about dynamic of account?

Money is the main one. Everything else is just stats. Focus on $$$ and everything else should be fine

Gasley posted:
Money is the main one. Everything else is just stats. Focus on $$$ and everything else should be fine

That is completely wrong.
You have to have complex solution with risk management otherwise all your profit will turn in loss.
I know that very well :)

@anna1987 I would say it's far too long. Demo account should be only used to get to know the platform before you start doing any stupid mistakes. People think: 'I want to train in the pool before I get to swim in the ocean'; while what they end up doing is: 'I will play a video game before I go to war - I want to be prepared'. You cannot be a good mother before you give birth to a child, no matter how many books you read and tamagochis you raised.

Fund your account with some small amount that you CAN LOSE (after you secured about 1 year of earnings in the bank) and risk at most 1% at each and every trade. Decrease the percentage every several consecutive, failed trades, so you might end up risking only 0.6 or 0.2%. Then, follow a daily routine, so that trading is not some kind of an activity you do, because you are bored, but that because you truly want to.

There are many trading systems that lead you to success. Unfortunately it takes time to find the one that fits you. Swing trading, position trading, scalping, fundamental analysis, stocks, forex, commodities, futures, options, fibonacci, heiken ashi, stochastics, price action, algorithms, semi-automated trading, multiple time frames, volume, moving averages, partially closing, averaging, pyramiding, martingaling, R:R ratio, accuracy? There are some general guidelines (applicable to all) but as you will soon find out there are no 'one size fits all' clothes in trader's closet, so DON'T MAKE ASSUMPTIONS. Your biggest foe might become your biggest ally.

Remember: money ($$$) is the (side?) EFFECT of your GOAL to follow the plan and improve yourself. If you concentrate on your money you will most definitely fail, as it will create a glass ceiling of fear and greed that you will not be able to break.

demo account trading depends on the traders ability to grasp his own powers/skills. there are people blessed with quick learning and has the correct mindset of a trader, they may be profitable traders in a matter of 2-3 months. some are regular folks that need years of unlearning habits that make them fail in trading. if you have a good system and you have played your trading according to your plan, then you may jump in to live trading after 5-6 months. if your demo trading is inconsistent based on the strategy you are using, then rethink of a strategy or trading plan. the most important in live trading is consistency in your trade applications...… with no consistency, you will just lose money.

I use it to see how my strategy works, so I do have demo...forever))) hahah

Demo until you are consistently profitable over at least a 3 month period.

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.