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Is demo trading enough before real account?

GFernandez78 (GFernandez78)
Nov 04 2016 at 09:04
35 postów
snapdragon1970 posted:
GFernandez78 posted:
snapdragon1970 posted:
leo23 posted:
CliveCampbell posted:
Bohdan73 posted:
hi guys, maybe a bit stupid question, but how long approximately a trader should practice on demo before start a live account? I know it depends on many factors, but would like to know your experience. Thanks


I've been trading different demos for almost an year till I decided to open a live account. I just wanted to know exactly what I do when it comes to real money

Ask yourself 3 questions:
1.Do you have a solid trading system which you have backtested with sufficient past data with positive results?....Yes
2.While trading in your demo account are you able to follow the rules of your same system exactly what you did in backtesting?....Yes
3. While trading in demo are you trading just by your emotions whenever you feel like without any solid proven system?...No

If your answers match with my answers, then keep trading on Demo until you produce consistent profitable results which you are happy with it before going to live.

If any of the answers don't match, then trading in demo even for 5 to 10 years may not help and chances of seriously failing in a live account are very much there once you switch from demo to live.

Finally, if you are in live account trading, then keep following your system exactly what you did in demo account and keep improving your system to adopt to changing market conditions.


Make sure your system allows for broker intervention in Live account eg:lost connections,spread widening ,re quotes.Trade with a small account on Live and build slowly,tilt the odds in your favour.


why it needs to allow broker intervention? you mean to be prepared for such thing?

Be prepared for such things and change brokers if your not happy with the service.


Got your point, yes, that's right - not to be caught by surprise. If I prove a broker intervention, will immediate change the broker as I don't accept this.

Trading is like football - if you don't practice you can't win the game!
Lesterkobi
Nov 09 2016 at 11:04
8 postów
I always thought that demo can never be enough before real, and mainly it is so due to trading psychology. Demo account is a good thing for complete newcomers only to get used to interface and know how to work with it

mlawson71
Nov 11 2016 at 10:38
1487 postów
Demo is certainly not enough to learn to make profits consistently, but it's the best start one can get.

CarlosMZ (CarlosMZ)
Nov 13 2016 at 08:00
55 postów
mlawson71 posted:
Demo is certainly not enough to learn to make profits consistently, but it's the best start one can get.


totally agree 😄

Madjarrah
Nov 15 2016 at 07:54
13 postów
I see that answer for primary question was provided many times, so I can only confirm it with my experience of trading too.

CliveCampbell (CliveCampbell)
Nov 15 2016 at 12:07
47 postów
This discussion turned out to be quite comprehensive which is great!

CliveCampbell (CliveCampbell)
Nov 15 2016 at 12:08
47 postów
leo23 posted:
CliveCampbell posted:
Bohdan73 posted:
hi guys, maybe a bit stupid question, but how long approximately a trader should practice on demo before start a live account? I know it depends on many factors, but would like to know your experience. Thanks


I've been trading different demos for almost an year till I decided to open a live account. I just wanted to know exactly what I do when it comes to real money

Ask yourself 3 questions:
1.Do you have a solid trading system which you have backtested with sufficient past data with positive results?....Yes
2.While trading in your demo account are you able to follow the rules of your same system exactly what you did in backtesting?....Yes
3. While trading in demo are you trading just by your emotions whenever you feel like without any solid proven system?...No

If your answers match with my answers, then keep trading on Demo until you produce consistent profitable results which you are happy with it before going to live.

If any of the answers don't match, then trading in demo even for 5 to 10 years may not help and chances of seriously failing in a live account are very much there once you switch from demo to live.

Finally, if you are in live account trading, then keep following your system exactly what you did in demo account and keep improving your system to adopt to changing market conditions.


Good points, thanks for sharing! 😄

VickyJones
Nov 15 2016 at 16:02
45 postów
To me demo is enough before starting with real money but only if a few books and a trading course is added to the list 😄

mlawson71
Nov 16 2016 at 10:09
1487 postów
There's generally no other way but to move to a live account sooner or later. And regardless of how hard people train on a demo usually the first few months on a live account are difficult and not exactly profitable. Still, demo account training is absolutely necessary, as without the first few months wouldn't be difficult, they'd be a disaster.

Madjarrah
Nov 18 2016 at 09:10
13 postów
mlawson71 posted:
There's generally no other way but to move to a live account sooner or later. And regardless of how hard people train on a demo usually the first few months on a live account are difficult and not exactly profitable. Still, demo account training is absolutely necessary, as without the first few months wouldn't be difficult, they'd be a disaster.


You are totally right. And I think new traders should also keep in mind strongly from the very beginning that their prime task in real FX activity is not to get quick gains and not even adjust well tried demo strategy onto live, but first of all it is not to wipe out their wish to be traders and thus not to get to those notorious 95% or something alike.

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