How long did it take you to go from demo to live?

[dianajs]

Yes, the fact that it has large movements is both good and bad. But I tend to avoid JPY pairs, or if I do trade I trade with lowest possible lot.

I agree, a large movement can be a very useful thing, especially if there was a good signal that it was about to begin and you saw it on time. However, if you've missed the signal and the movement has already begun it becomes quite difficult to find a good entry because you would always worry about retracing.

 

[mjones]

Hello all,

Just wanted to ask how long it took you to go live?

for me it was about 2 years.

It took me 6 months of demo trading

 

[EuroTrader]

It took me 6 months of demo trading

Doing Demo trading is always helpful for us as it allows us to know which type of trading will give us more income and which will not give us any income

 

[ForexVerified]

I agree, a large movement can be a very useful thing, especially if there was a good signal that it was about to begin and you saw it on time. However, if you've missed the signal and the movement has already begun it becomes quite difficult to find a good entry because you would always worry about retracing.

And also if you jump in late, your stop loss has to be higher than if you caught the signal earlier, thus making a questionable risk/reward ratio.

 

[EuroTrader]

And also if you jump in late, your stop loss has to be higher than if you caught the signal earlier, thus making a questionable risk/reward ratio.

Whenever we are doing our trades we have to know how we can earn a good income from our trading and this will become possible only after we are making the efforts in the right directions

 

[Wasi Kazmi]

I really respect your approach, but I believe 3 years is not enough for an uncommitted Forex trader. In other words, it’s very possible for novice trader to build up a professional trading skilled in a short time if they are enough dedicated in demo.

Whatever, if traders start their demo with a specific target then it would be valueless. Novice traders should practice in demo until they are consistent in their practice account. Personally, I used my practice account only for 11 months. That’s it.

 

[EuroTrader]

I really respect your approach, but I believe 3 years is not enough for an uncommitted Forex trader. In other words, it’s very possible for novice trader to build up a professional trading skilled in a short time if they are enough dedicated in demo.

Whatever, if traders start their demo with a specific target then it would be valueless. Novice traders should practice in demo until they are consistent in their practice account. Personally, I used my practice account only for 11 months. That’s it.

I would like to say that doing trades in the Demo accounts may not be the only thing we can depend upon and the real learning must come with the use of real trading accounts with low trading funds

 

[Marcelo Rosa]

I would like to say that doing trades in the Demo accounts may not be the only thing we can depend upon and the real learning must come with the use of real trading accounts with low trading funds

I agree 1000% with this, no matter how much you practice on a demo account, no matter how successful you think you are on a demo, when you switch to a real account, you'll add the most important aspect of trading that it's not attached to a demo trading: " Your emotions" and if you don't master this, your chances of losing control are increased and your chances of failure as well, but perhaps this is the last step a trader needs to go through before becoming successful.

Losing $1K won't make you go broke, but once you have a larger amount of capital, let's say $100K, would you trade the same as you're trading with a $1K account, trying to achieve 10% or more per month? Probably not, you'll reach a point that your risk will be greatly decreased and you'll be able to get the same returns when you had a small capital, Warren Buffet is up 5.7% this year, while I'm over 40% in one of my accounts, but he has enough capital in order to risk less capital, while I'm still growing my capital and therefore, I'm able to take more risks, but as time goes by and my capital increases in value, my risk will be reduced at a point that if I make 2-5% consistent every month, that will be an amazing return, remember the compound interest is a great tool to increase your profits.

 

[Wasi Kazmi]

I would like to say that doing trades in the Demo accounts may not be the only thing we can depend upon and the real learning must come with the use of real trading accounts with low trading funds

Yeah, it’s a very useful idea! Because in demo, novice traders may not face their emotions. That’s way, I know many traders who were successful in demo but unfortunately right now there are losing their real money. Whatever, traders need to use fixed small trading lot size because, if they try to recover their losses by using standard trading lot, that would be harmful for their real money. Naturally, new traders are unable define good entry point.

 

[EURUSD]

Doing Demo trading is always helpful for us as it allows us to know which type of trading will give us more income and which will not give us any income

Certain trader he practice in demo account more than two years, and they really understand in demo account, and before jump to real account spent time practice in demo for longer time will better than only a week