How long on a demo account

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.

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.

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.

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............

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

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

if your're not willing to loose a big bunch of $$ (cause that's what it takes in order to have a chance to belong to the 5% successfull traders) stay on demo,one thing is sure you gonna loose big time

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)

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

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.

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.

Just joined. How long do people recommend I should stay on a demo account for?

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.

Looks like I have some demo to do then...……...

i m doing demo for 2 yrs...now i think achieve some PA

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.

expkhaled posted:
i m doing demo for 2 yrs...now i think achieve some PA

Have you been consistently profitable?

Get professional education ,3 months on demo ,micro account then add to it as you progress.

snapdragon1970 posted:
Get professional education ,3 months on demo ,micro account then add to it as you progress.

That is about right