How long did it take you to go from demo to live?

[EuroTrader]

But you can always use demo account to test out new strategies until you feel ready to use it on a real account.

With the help of the Demo trading accounts we will be able to use such trading strategies that are going to give us more profits and also are less risky to be implemented

 

[BaibarsB]

I am tempted to start a poll that asks the reverse:

How long did it take you to go from LIVE to DEMO?

I traded demo for 1-2 months, went live for about 3 months. Initially, I did OK, lost money, became profitable and then had a 15% draw-down in one night (poor knowledge, poor risk management, could not justify my trades). So I am back on demo for a month and am learning technical analysis through Forex Peace Army Military School and learning fundamental analysis and trade psychology from one of "FPA Shoulder's of Giant".

There is one phrase from Joe DiNapoli "Loss of opportunity is preferable to loss of capital". I won't go into live until I can demonstrate that I /am :
a) Consistently profitable (I will have losing trades, but overall profitable)
b) I have documentation (screen shots/short written SITREP) with defendable reasons for entering a trade (Fundamental, Technical, Emotional) and this goes for exiting a trade.
c) Have sufficiently deprogrammed myself from a purely scalping "get rich quick" mentality, but that I have the endurance to let some prolonged winning trades run and that I have defendable reasons for this. That is, trying to strike a balance.

But I agree, it is tempting, but patience will reap awards!

I agree with you and Joe DiNapoli but in any case only live trading will give you the deep understanding of trading, and learning on your own mistakes is rather effective) demo can be usefull to try new strategies

 

[EuroTrader]

I agree with you and Joe DiNapoli but in any case only live trading will give you the deep understanding of trading, and learning on your own mistakes is rather effective) demo can be usefull to try new strategies

I have done both the Demo trading as well as Live trading and all i can say is that we do see a lot of difference in between them. This is why we have to first of all decide which type of trading we are going to do for our learning

 

[kingsman]

Forex is lucrative and interesting business and its requirements is knowledge and experience, anyone can do real trading after spending 3-4 months on demo account after having proper knowledge, no need to start this business after 2 years.

 

[EURUSD]

Forex is lucrative and interesting business and its requirements is knowledge and experience, anyone can do real trading after spending 3-4 months on demo account after having proper knowledge, no need to start this business after 2 years.

2 Year maybe rarely any newbie they spent time till this period of time, many from newbie only practice in demo account on few week and then rush jump to real account because they want making quick money

 

[smithsixer]

6 month

 

[dianajs]

2 Year maybe rarely any newbie they spent time till this period of time, many from newbie only practice in demo account on few week and then rush jump to real account because they want making quick money

For me, the first few weeks were necessary to learn the software itself and then some of the basic concepts of Forex trading. The actual practice on the demo account and more indept studying came after that. Sometimes I still go back to the demo account to test new strategies and new ideas before implementing them on the live account.

 

[crazy.man]

1 year time you take to go from demo to live account.

 

[EURUSD]

1 year time you take to go from demo to live account.

Some newbie might they lazy to practice in demo more than a years, sometime only learn a week then jump to real account because they want to making real cash profit in real account, but almost them get fail in trading eventually

 

[clicker999]

i think one year demo is ideal.