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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. downtrend

    downtrend Sergeant

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    I agree that news are not a good time to trade for newbies but in a demo account he can practice about it. Its still a dangerous thing to put your real money on stake during a high impact news.
     
  2. Pharaoh

    Pharaoh Colonel

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    It can actually be dangerous for an experienced trader to trade high impact news. Sometimes even when everything seems straightforward, a whipsaw will wreck your trades. This is where risk management comes into play.
     
  3. dianajs

    dianajs Private, 1st Class

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    I agree. Regardless of how much one has practised, the results of high impact news events can be a surprise and one has to be prepared for that. I, personally, prefer to either not to trade them altogether or to wait out the initial intense volatility before I open a position. Sometimes that means I don't open a position at all, because the intense volatility is all there is and the instrument I intended to trade simply returns to its levels before the news.
     
  4. kingsman

    kingsman Corporal

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    I think one and half month is not enough, you should work at least 2-3 months on demo account then you should work on real account, it is also mentioned here that you should work sincerely on demo account in order to get the fruitful result from real trading.
     
  5. marx15

    marx15 Banned

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    its depend on your demo account. if it make profit consistently in 3 ,6 month then you run your live account.
     
  6. Ken Smith

    Ken Smith Private

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    It totally depends on you. There is no such specific time. The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.
     
  7. William Barnes

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    It is relative question to answer since how much time a trader will need to spend in demo trading accounts will depend on his ability to read the market by utilizing his knowledge and skills that are acquired in the demo trades. So if you competent enough to just learn the trading very swiftly; then you will have to spend lesser time. But we can't actually deny the fact that forex is a very dynamic and competitive market so average trader should spend time in demo trades until he gets the full confidence to work with live trading accounts.

    Again; it is not that once you leave demo trades; you won't repeat these demo trades again. Rather you can keep your practice on with demo trades always. Even after trading for almost 7 years; I randomly practice my strategies with my demo trading account to check reliability and effectiveness of my trading strategies.
     
  8. Enayess

    Enayess Private, 1st Class

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    Another of that questions like what was first chicken or egg and last spammer already replied ;))) Basically there is no set answer anyway for all your activities. It's only your and your experience and nobody else. So something like that really. But as for me I'll start with real from start;)
     
  9. ScottyCarsonMVP

    ScottyCarsonMVP Private, 1st Class

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    Until you feel comfortable
     
  10. carnelian

    carnelian Private

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    I have no doubt the frist step after basic knowledge should be just demo trading. You will learn a lot of things over here because you can do as much experiments with different angles to understan market . You ar not bound of feared about usage of capital . It is free and anyone can spend time until he thinks now he can face live market.
     

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