How long on a demo account

hollyholly141 posted:
I've just started on my demo account will let you know how it goes

Good luck :)

Thankyou:) Goodluck to you too :)

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.

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

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)

I will stay on demo until I am profitable on demo. Going live atm scares me lol

Molly141 posted:
I will stay on demo until I am profitable on demo. Going live atm scares me lol

No need to rush Molly.

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

Molly141 posted:
I will stay on demo until I am profitable on demo. Going live atm scares me lol

If it were my account, I would stay on demo with an initial investment comparable to what will be invested in my real trading account.

If $1000.00 US is invested in a real account, then that is the same amount the demo account should have in it.

Also, the real account should be with the same broker that the demo account is with.

Both accounts (live and demo) should be identical in configuration.

Example:
Demo: Standard account with $1000.00 + 1:50 leverage through the Oanda US office
Live: Standard account $1000.00 + 1:50 leverage through the Oanda US office

By doing it this way, if a trade system is consistently profitable on demo, when the system is switched to the live account, the trading experience from the broker should be very similar providing of course the market conditions have remained the same.

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?