Until you have the knowledge and you feel readyI've traded with demo account around 1 month and half now. I do my business full time, currently my income is from affiliate marketing, but I want additional income from forex as well. Since I do my business full time, I have lots of time staring at MT4 chart, opening trades and gain experience. I won some and lose some. I'm not sure whether I'm ready or not to trade with live account, especially with big capital. Can anyone give me the idea? How long do I have to trade with demo account? 4 months? 6 months? To those who's going to post in this thread, how long had you been trading with demo acc? Care to share your experience?
When you think you are ready for a live accountI've traded with demo account around 1 month and half now. I do my business full time, currently my income is from affiliate marketing, but I want additional income from forex as well. Since I do my business full time, I have lots of time staring at MT4 chart, opening trades and gain experience. I won some and lose some. I'm not sure whether I'm ready or not to trade with live account, especially with big capital. Can anyone give me the idea? How long do I have to trade with demo account? 4 months? 6 months? To those who's going to post in this thread, how long had you been trading with demo acc? Care to share your experience?
Yeah, for backtesting, the demo accounts are actually good.There is no exact answer to it. Some have even started live trading without any experience in demo trading, and some have taken six months to make a consistent profit using a demo account.
On the other hand, I mostly use it for testing strategies and working with EAs on demo accounts.