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How long do I have to trade with demo account?

Discussion in 'Beginners Bootcamp' started by Azlan00IM, Jul 3, 2015.

  1. Azlan00IM

    Azlan00IM Private

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    I'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?
     
    #1 Azlan00IM, Jul 3, 2015
    Last edited: Jul 3, 2015
  2. Bordux

    Bordux Recruit

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    Sounds like we're in the same boat. Personaly, I have all the time I need to learn the essentials; I took 1 good month sitting behind the screen from 7am to 9pm reading and learning bits and pieces. At the end of 2nd month I already had my trading plan and some experience, so now what I'm doing is building up the confidence on demo account and saving up some money which I'll likely deposit at the end of the summer. Personally, I feel already confident about my trading after 2.5 months of demo trading. If you feel like you are not sure about yourself, then don't bother going live, that's my advice.
     
  3. RahmanSL

    RahmanSL Major

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    I was on Demo for around 3 months and was posting the account right here at the FPA for anybody to review and comment on my style of trading....and ask for brutal truths on what am doing right or wrong.
    In the end, and in my personal opinion, don't stay too long on Demo because you might pick up bad habits like over trading without fear of losing because you know you can always upload more money.
    When you have familiarize yourself with the broker's trading platform, start on a small LIVE trading account with money you can afford to loss. You will learn the real psychological feeling in trading with REAL money....also, it will give you the experience on how to conduct money transfer/deposit and withdrawal from your broker.
     
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  4. WatanFX-Rep

    WatanFX-Rep WantanFX Representative

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    I am not sure of your starting capital, but unless it is above $100k, and you are making 1% to 5% per month consistently from the markets, I am not sure that "supplementary income" can see the light of the day.

    Trading is an extremely difficult profession. The average learning time period is way above 4 years, before one gets the mechanics of the financial markets.

    Anyways good luck.
     
  5. Froso@FXNET

    Froso@FXNET FxNet.com Representative

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    You are right , all of trade will pass trial and errors , any trader will do demo trade in certain times , when have good confident then try to real , but when loss trade they will back again in demo version again . not sure do trade in demo trade till 3 month the trader directly to be profesional trader. Its need process even more than 4 years
     
  6. Pharaoh

    Pharaoh Colonel

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    There are 2 reasons to be on demo.

    1. Learning a trading platform. After all, why waste money pressing the wrong buttons?

    2. Testing, developing, and improving your trading system. Once you've got a system that would still be profitable with modest slippage and the occasional requote, the time has come to try it live. If you want to modify it in some way, test the modifications out on demo. If the changes don't help in demo, they are very unlikely to help in a live account.
     
  7. nahiyar

    nahiyar Private, 1st Class

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    Time period is different for every trader to understand trading platform and understand forex . Some are good in months others need years to become skilled in trading . At least 6 months demo practice should be done so that you can face live trading with confidence.
     
  8. Alonedevils

    Alonedevils Master Sergeant

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    No Benchmark For How Long Should be in a Demo Account, in my opinion, Learning By Doing Is The Best ..

    You Can Also Try Live Trading Using Small Capital, With Accounts Cent.
     
    Pharaoh likes this.
  9. Albert Dcosta

    Albert Dcosta Private, 1st Class

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    As a Forex trader it is the best thing to be done. I mean when we are looking for trading in the Live trading accounts we must have a good trading strategy that can be used :)
     
  10. david moore

    david moore Recruit

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    The duration pf demo trading varies form each trader . You need to make sure you have the needed knowledge that can sustain you while trading. And if you want to trade on live account there are micro account offer by different broker that you can open with very little capital that you can trade with to get experience.
     

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