snapdragon1970 posted: About a year ,then a small live account for further testing. My advice is close the mess about account, focus on the one that matters It's too soon to say how it will go ,need a longer time frame to evaluate
When I can recognize that I can enter real money and work with it? I have traded form september in demo account and not about loss. I am going to disappoint from trading but I love it really. If you help me I will be tahnks. I think the problem is with my system but i;m not sure
I'm trading with my 22 EAs on my demo and live simultaneously. Starting on live with microlot and compare the EAs orders demo to live. So you can see which one is really working as predicted or is not acceptable and must be deleted. 😄
NULL; you should only use a demo account to understand how trades are placed, edited, stop losses and profit stops are placed and to get an overall understanding of how your broker works, margin, required margin, cut off margin, equity vs balance etc.
demo doesnt give experience it gives false hope. once youre accustomed to how everything broker wise works, and youre up to date on chart patterns, news etc then go live.
I remember taking almost 9 months trading in demo account because I want to make sure if I was able to make a consistency profit before taking on the live account. I will say that it would be good if are able to make the consistency in less than a year. It is not bad if it is over, but you should be making the consistency and able to strategize in risk management.
cardigan posted: I remember taking almost 9 months trading in demo account because I want to make sure if I was able to make a consistency profit before taking on the live account. I will say that it would be good if are able to make the consistency in less than a year. It is not bad if it is over, but you should be making the consistency and able to strategize in risk management.
It's ok, but my question is how I can test my strategy? Is there any thing to do it?
There is no specific time frame for the usage of a demo account. It completely depends upon the trader how long he wants to stay on a demo. I think a trader must not leave a demo account until he gets fully assured about trading.
It often takes about 3-4 months to trade on a demo account. This period is enough to allow you to adapt, learn the strategies and types of trading that are suitable for you. But I believe that this period should be regulated by each trader individually. The main thing is that you feel confident in your decisions and get the right amount of experience for real trading.
Thank you all for your answers. But you know I don't have a comprehensive trading system and it makes me nervous about future. I like to do it simple as I can but this system that I have does not work after 5 months.
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.
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.
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