How long on a demo account

dylanjessop posted:
Looks like I have some demo to do then...……...

REB_FX posted:
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

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

mrbeedles posted:
I traded demo for 6 months when I first started. Went through a bunch of trading courses, gurus, potions and failures. A small account helped me to really find my style, risk tolerance and trader mindset. Trading is 90% mental. The button pushing part is pretty easy. Take your time and find a good teacher. M3RD.net

AlHashim posted:
6 months on demo - followed by 6 months on micro - followed by 12 months risk only 1% account. After that you should be pro and know what doing. If not then give up and try something else

Treeny posted:
Everyone's different. Stay on demo until you're profiting consistently

OnTheEdge posted:
Demo accounts are for learning the platform, testing/backtesting, looking at charts to come up with ideas, nothing more.

Setup, your live account after you finish this 4th or 5th week, Get Everything exactly how you want it on your platform utilizing a demo AND than sign into your live account.

Trade the smallest size depending on your system, example; if you use multiple parcel close levels you could trade at .03 lots and close accordingly.

Nobody can on the web can tell you when you should go live.

OnTheEdge posted:
What can be said is this;
You will never learn if you can trade on a demo account.

OnTheEdge posted:
You have to focus on your system rules not the win/loss or profit statement. ( Take screen shots of every trade, and notes of every trade.... search for 'TradeNote' or 'add complex notes to Metatrader 4' one of those is free the other a few bucks, best thing I ever added to MT4, if that's what you use.

Your Notes and screen shots should confirm you are taking trades PER YOUR PLAN!!!!!!

The Goal of your trading is to take All the trades All the time Per Your Plan, NOT TO MAKE MONEY!!!! The OUTCOME of following your Plan is Money.

OnTheEdge posted:
Do not chase system after system, or buy into all the snake oil salesman trying to sale you the next great thing or convince you your mentally imbalanced and need their 3000$ course to get your head straight, what BS.
[/quote

Hey! We agree on something! Hooray! Paying $3000 for a trading course is absolutely a waste of time.

OnTheEdge posted:
Your going to have Losers that's part of the game, trading small and building up your size is how you stay in the game for the long haul.
This is a marathon not a sprint!

Absolutely agree with you on this point.

rickyb posted:
never stop testing on demo;even when using real money..practice makes perfection.!!!!