Demo trading for 6 months

[Christina Ledger]

demo trading is one of the biggest parts of learning to trade I think; it's putting what you learn into practice but use a realistic account size (deposit) So you can be closer to the reality of trading emotions.

Also, bear in mind that demo accounts to not consider SLIPPAGE which you WILL see on a live account so be careful. good luck

 

[sebking1986]

I think it depends on how long it takes you to get it and then how long to nail down a strategy that works for you. That might take a few months or six. The one thing demo trading doesn't prepare you for is the psychological aspect of trading with real money though. That is arguably the longest lesson in forex

 

[LuckoftheFX]

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.

Everyone is different, no right or wrong.

I personally did not take 6 months on demo, and moved on to a small live account quite soon. Any real money though should be money you can afford to lose!

 

[RachelEB]

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.

Good point about slippage to factor when going live

 

[RachelEB]

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.

Jus goes to show every trader is individual and no one size fits all to Forex

 

[fxoday]

Everyone is different, no right or wrong.

I personally did not take 6 months on demo, and moved on to a small live account quite soon. Any real money though should be money you can afford to lose!

Yes, I think so, it's advisable to learn demo at least for six months because so many traders fails in real trading account less than six months, but if in hurry start in real account, the micro account is an option for start with small money.

 

[bigbax699]

if you cant be consistent in demo account then you cant be consistent in a live account. Its vital

 

[momo3HC]

if you cant be consistent in demo account then you cant be consistent in a live account. Its vital

Exactly. And even if you`re be consistent in demo account it`s not 100% sure you`ll be consistent in a live account cuz of the different emotions.

 

[JohnnyJoe]

It's a huge help but your 1st loss with real money has different impacts on your mindset

 

[Kiara]

According to me, it's the best idea to put trades on a demo account in the beginning as it gives you a lot of knowledge and experience to further make trades on your live account. It's so amazing that demo account is the exact mirror image of a live account. It's an advantage for traders to practice on it whereas it totally depends on person to person for how long they want to practice on demo account.