How long on a demo account

You should use the demo account till you learn all the basics of forex perfectly. You have to be experienced enough to make profitable strategies and minimize your risks with your experiences. After having all these qualities you can quit demo account and move to the real account for earning money.

Even as a professional trader, I still use Demo till date, only the difference is that trades to my demo are now copied from Live accounts, I don't like displaying live accounts, I best trade it privately.

Demo trading is mandatory for new traders. Because if you want to make a profit, you have to do demo trading. If you don't do demo trading, you have to go through a lot of trouble to know about the basics. Demo trading should be done as long as you are not making a profit in demo trading. But I think you need to do 5-6 months of demo trading and between demo trading, you have to learn from different websites online.

I think demo account really gives a push to new traders. But how long that one should decide. It may be one month or 3 months etc.

I traded for several months on a demo account of the Amarkets broker in order to study the platform in more detail and test my skills.

The most important thing is not to switch to a demo account, because then it is psychologically difficult to switch to a real account.

It seems to me that you should continue to trade on a demo account and gain skills and experience. Three weeks is not a long period for a demo account. I recommend trading on a demo account for more than three months until you get rid of ridiculous mistakes and are more confident in your trading. Then you can open a small account and trade with small investments. By trading in a real micro account, you will learn to control your emotions and be calmer in trading.

3 months approx.

It seems to me that 3 months is an approximate period, and you will need to be guided by how you feel during trading and how ready you are for real

double demo account 5 times, with hand writen reasoning for each trade, outcome, daily journal

I have traded in a demo for about 2 months then moved to live account but whenever I want to test something new, I will test that in a demo account before trying that in a live account. My suggestion for any newbie is to trade in a demo account until you start to make a decent profit, then move to a smaller live account. Then you can gradually increase the lot size based on your level of success.

A demo account will build your decision making power once you master in it you can go with real money and that will teach you how to handle the risk and your emotions of fear.

Make sure to not spend way too much time on demo account, as it can lead to bad trading practices. Try not to exceed using a demo account for more than 5 months.

I think 2-3 months would do.

pegima posted:
I have traded in a demo for about 2 months then moved to live account but whenever I want to test something new, I will test that in a demo account before trying that in a live account. My suggestion for any newbie is to trade in a demo account until you start to make a decent profit, then move to a smaller live account. Then you can gradually increase the lot size based on your level of success.

Of all said this is the best way to go.... :D

Demo account helps you to learn more about trading and one can develop the strategy for live while working on demo and It's totally depends on you that how much time you're going to spend on demo account. you can trade on demo account unless you think you're confident enough to go live.

I think everything that has to be learned from a demo account can be done in max 3 months.

Well, in principle, this is a period that can bring certain results of knowledge, well, perhaps, for someone it will be less, for someone more, everything is already going on individually.

I practised on my demo account for around 5 good months till I got a hold of the strategies I wanted to use.