I think that is too long. I trade demo for 12 months and had big problem when I went live. I wish I had gone live sooner but onto a micro account with low leverage. That is a much better way to understand how the markets really work
I also think 3-6 months is enough. Then move on to micro account for at least 12 months. That is a better way to learn. It is easy to forget the lessons from losing 200 demo pips but when there is real money at stake (even a small amount) the losses will be remembered and solutions found
For me, the demo is supposed to be for those who are really really a beginner trader whereby you need to familiarise with the mt4 platform itself like eg; how to buy or sell. how to sell limit or buy limit etc. And also to test out the strategies that you like. Ones you are comfortable with the MT4 platform and your strategy is working then you can start trading live account. Ones you enter live account than another problem coming in, emotion. Yes, your emotion is the killer. be disciplined and manage your risk/money. Most of all, be patient.
Totally, demo is just to get familiar with platform not to learn trading for real. That can only be done with a real account. I think demo is waste of time if you are serious about trading. Get a real account and get the feeling of having real money on the line
MontaBill posted: Totally, demo is just to get familiar with platform not to learn trading for real. That can only be done with a real account. I think demo is waste of time if you are serious about trading. Get a real account and get the feeling of having real money on the line
I agree that you need to trade real money for real practice, especially with emotions but demo trading is vital to develop winning strategies.
Demo helps beginners navigate the mt4 system including utilizing trading technical s and strategies. But more importantly you want to trade with the smart money so learn to read COT reports to add to your trading strategy. YouTube how to evaluate the report.
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