Demo trading for 6 months

[downtrend]

Some traders will understand quickly so less time for them in demo account is enough for them. Its like there are several students in one class but some are better in picking up lessons than others, same is the case in forex trading.

 

[Leeminho]

I think new trader should try 4 digit instead of 5 digit trading. The price could move slower and it's easier to catch the movement.

 

[EURUSD]

I think new trader should try 4 digit instead of 5 digit trading. The price could move slower and it's easier to catch the movement.

I don't think so. For me, it will be same to use 4 digit or 5 digit broker in trading and if you're confuse then you can use 5 digit account and always count the last point as zero, so it will be same to use both of them. The most important is how to analyze the market no matter you're using 4 digit or 5 digit account. Demo account could be starting point to do that because no risk at all so you can trade without any worry at all.

 

[Froso@FXNET]

Some traders will understand quickly so less time for them in demo account is enough for them. Its like there are several students in one class but some are better in picking up lessons than others, same is the case in forex trading.

yes , so i think with 6 month in demo account most of trader will know what must to do in next real account , but when take in real account still can not get optimum result then they can try again in demo account cause no one can be perfect just 6 months , so take improvement from time to time is needed for everyone

 

[Whitesnake]

yes , so i think with 6 month in demo account most of trader will know what must to do in next real account , but when take in real account still can not get optimum result then they can try again in demo account cause no one can be perfect just 6 months , so take improvement from time to time is needed for everyone

Certainly getting trained for the live account trading is most critical for all the traders. Hence, trading in demo account for 6 months can certainly serve as the best self training. Hence, trading in the demo account serves as the practice for the traders.

 

[Bordux]

I believe that the amount of time you should put in demo trading depends on each individual. Personally, I am able to put in plenty of overtime in my trading education and so far I was able to learn most important things I need to know and also discovered a trading method which suits my personality in under 4 months; all it takes now is to sharpen my skills and go live. I've read stories that some people wasted loads of money and like 6 years trying to learn and discover a suitable trading method (not sure how much truth there was in the story, but it's on the internet so it must be truth) and this only proves that different individuals need more time. As someone in this post said, learning Forex is like being in school; some people simply understand the lessons immediately and have no struggles.

 

[Pharaoh]

It's definitely an individual thing. Some people only have 20 minutes a day to learn trade. Others might spend 8 hours a day learning. Some people may have never traded anything. Others might have played the stockmarket or other instruments before coming to forex.

The most basic rule is - If you aren't profitable on demo, going live is a very bad idea.

 

[EURUSD]

It's definitely an individual thing. Some people only have 20 minutes a day to learn trade. Others might spend 8 hours a day learning. Some people may have never traded anything. Others might have played the stockmarket or other instruments before coming to forex.

The most basic rule is - If you aren't profitable on demo, going live is a very bad idea.

Yes, you're right. It's important for traders to spend time in demo account first before entering into real account because demo account will be preparation account before you're trading with real account. It is right that different person will need different time to learn how to trade well but I don't think if it is enough to spend only 20 minutes daily in forex market. For better result, I think you should spend at least 2 hours daily and it will be better if you could spend more time so you can learn not only theoritically but practically too.

 

[july]

me too highly interested in learning same..whether it will take 6 months or more...are there any good sources?

 

[Bordux]

me too highly interested in learning same..whether it will take 6 months or more...are there any good sources?

I believe first stop would be to go check out Forex military school here in FPA forums to learn basics. For advanced learning you should first find out which approach suits your personality and choose the training course then. There's plenty to learn and all you need is one approach. To continue the main topic, in my belief spending only a few hours (or minutes!) daily to learn trading is not very effective. In order to really know what is what and get some skills you need to put in definitely more than just a few hours per day in order to learn all you need to start trading live in under 6 months. On the other hand, if you can spend 8 or more hours per day to learn you might just make it before the "6 months deadline", but then again, you need to be efficient in your learning, especially if you are putting in 8+ hours per day. What's the point in learning irrelevant things or reading 100 articles per day if you forget most of what you've learned or won't be practically able to use the knowledge in the market the next day? The bottom line is, in my opinion, that you need to learn to learn efficiently.