Demo trading for 6 months

[Christina Ledger]

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.

yes i agree 100%. some people take longer than others and thats okay, its not a race in forex

 

[momo3HC]

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

Yeah but that`s part of the game.

 

[Chiyo]

yes i agree 100%. some people take longer than others and thats okay, its not a race in forex

Exactly. Forex is not a get rich quick scheme. It takes time so no need to rush.

 

[marco_mmbiz]

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.

I also started with a demo account and learned trading for half a year before I invested anything on a real account. And with real accounts you'll also learn a lot about brokers afterwards. It's just a part of the learning process. Don't invest too much money and/or too much time (6 months of learning the first steps is totally ok).

 

[Oswald Franklin]

I also started with a demo account and learned trading for half a year before I invested anything on a real account. And with real accounts you'll also learn a lot about brokers afterwards. It's just a part of the learning process. Don't invest too much money and/or too much time (6 months of learning the first steps is totally ok).

Agreed. Even I spend around 5-6 months demo trading before going live. And honestly both the experiences were different. When real money comes into action, there is a lot of difference. But the key is to practice and never stop learning.

 

[Rakieta]

Wow. 6 months... it is a long time as for me. I think one week is enough. Max 2. With real money you will study faster.

 

[Farm_Yard_Forex]

Depends on the individual. Of course trading with real funds opens up a whole number of other pressures and learning experiences but the bulk of lessons can be had without risking a penny.

 

[louise.kepinska]

Depends on the individual. Of course trading with real funds opens up a whole number of other pressures and learning experiences but the bulk of lessons can be had without risking a penny.

I agree completely, trading demo consistently for a number of months before going live was definitely the best decision I've made!

 

[scott11]

I also started with a demo account and learned trading for half a year before I invested anything on a real account. And with real accounts you'll also learn a lot about brokers afterwards. It's just a part of the learning process. Don't invest too much money and/or too much time (6 months of learning the first steps is totally ok).

Marco, you made a very good point. Choosing a right broker is sometimes difficult job for a newbie. My advice would be that good research would help a lot on a topic. And, of course, focus should be on legitimate brokers

 

[Tahntaman]

I think that six months for demo trading is a bit long. I think 3-4 months is enough for you to learn the basics of trading. But I advise you not to stop trading on a demo account anyway. You can test new trading strategies on a demo account without being afraid to spend real money. If you study very hard, you will quickly switch to a real account and get a little money.