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Demo trading for 6 months

Discussion in 'General Forex Talk' started by jamesray, Jun 30, 2014.

  1. jamesray

    jamesray Recruit

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    I read in the School of Pipsology the suggestion to trade for six months on a demo account before trading on a live account. Six months seems like a long time.
     
  2. ilearn2t

    ilearn2t Sergeant Major

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    Hello jamesray

    It depends on how long it takes for the trader to fully understand this business, also what way the trader sees this business (pleasure or serious).

    Once I found, what I believed to be the right strategy from "Demo" trading, I started "Real" trading, this took well over 6 months and I only trade for fun.

    Others might find their ideal strategy in lesser time, while others might never find it.

    One good thing about this business, you'll never stop learning, and most likely always need to fall back to the "Demo" from time to time, even if its only to double check on your strategy.

    Good luck
    Liz
     
  3. FxMaster

    FxMaster Lt. Colonel

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    I do agree that six months seems long time but as Liz replied "you'll never stop learning" and practicing make traders perfect :)
     
  4. Pharaoh

    Pharaoh Colonel

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    It really depends on the individual.

    If you can come up with a trading system that is profitable on demo and remains profitable even if you calculate in 2 pips of slippage for each order, the time to try it on a very small live account has probably arrived.
     
  5. Christos Pittis

    Christos Pittis Banned spammer for GCI Financial

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    Basically demo trading is the best way to learn the Forex business. I personally use the demo account for 1 year. Then I open my real account. But 6 months it's enough time if the beginner take serious their demo trading.
     
  6. fxstrategist

    fxstrategist Corporal

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    I dont think it is a matter of 6 months or one year or whatever. What counts is that first you need to see consistency in your results in Demo, before you attempt live trading. If you dont, then you are just kidding yourself.
     
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  7. HotIce

    HotIce Private

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    6 months is a really long time, but even that may not be enough to play on a live account. IMO when you feel confident on demo, start trading on bonus without deposit or a very small deposit to feel the pressure and emotions. When you feel you can control emotions try real trading.
     
  8. workitout

    workitout Private, 1st Class

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    6 months are way too long before get in real market trade. it's always been good to start with demo account, but if you take it too long what comes is to worry with the real risk, getting used to much with no risk transaction. if you willing to keep with trade on demo account, level up your state of risk, for example attend some demo contest, compete with others, in every way of business a 'rival' is needed too, that way you'll enhance your strategy.
     
  9. robertrfx

    robertrfx Sergeant

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    You can't achieve instant results without practice. Demo trading is a must unless you are comfortable with trading. Demo trading term is totally depends on you.
     
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  10. iMusingKiMi

    iMusingKiMi Sergeant

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    6 months wasn't that long to me. I have seen someone given a proven strategy for years, but yet able to trade with the strategy and still staying in demo after 8 months. It is still depends on someone competence and capability.
     

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