How long do I have to trade with demo account?

mlawson71

Corporal
Messages
188
There is no specific limit as to how many months you have to practice in a demo account but you can realize it for yourself when you become a good trader. Only then you should shift yourself to a real account.
I am aware of that. Frankly, sometimes I still shift to a demo account when I feel uncertain about my trading skills.
 

EuroTrader

Sergeant Major
Messages
1,039
I am aware of that. Frankly, sometimes I still shift to a demo account when I feel uncertain about my trading skills.
With the use of the Demo accounts we can learn doing our trading easily and that will also allow us to take full control over our trading :)
 

carnelian

Private
Messages
196
You need to trade in a demo account until you become an absolute master of your strategy. You start trading without any second though once you see a setup in line with your edge, only then you are ready for real account trading.
 

downtrend

Sergeant
Messages
868
I still trade in demo, although I'm 3+ years in my real account trading. For most of the traders it is a personal chose to carry on with demo or to start trading in real account.
 

dianajs

Private, 1st Class
Messages
778
I still trade in demo, although I'm 3+ years in my real account trading. For most of the traders it is a personal chose to carry on with demo or to start trading in real account.
I think it's best to continue with both. Test new ideas and strategies on the demo account and then profit from on the live one.
 
Messages
13
Hey Azlan,

Firstly I'd have to say I agree with Rahman and Pharaoh. Spending too long on demo might lead to development of bad trading habits while too soon might only have you be prematurely accustomed to the system.

In addition since no one has yet to mention this, I want you to point you and anyone else who's new to this video linked down below and pay close attention to the phrase "90% of retail clients wipe out their account in about 6 months" (repeat listening to it if you must, it IS meant to scare you, lol).

Now ask yourself, are there only 10% of good traders out there in the market? Of course this seems like an impossible figure given the amount of knowledgeable traders around giving advice; I'd personally agree that this is not true. Google "world's one time largest hedge fund bankrupt" and you'll be surprised how even pro's can go bust.

So the end result is not totally about being labelled as a 'good' trader who makes several good trades; it's about being a 'profitable' trader. So, what's the secret?

I think it's important for fresh traders to have a system whereby:
1) The 'take profit' TP order IS ALWAYS BIGGER than the 'stop loss' (SL) order.
2) ALWAYS be able to control your emotions in regards to rule number 1.
3) Be disciplined (Do not keep changing your method and rules - Find yourself!).


I reckon with this in mind and adhering to it, you're already better than 90% out there who do not practice as such.

For starters it's easier said than done but in time, you'll get the hang of it :)

Cheers buddy, happy trading! :)


 

ForexVerified

Private, 1st Class
Messages
582
Hey Azlan,

Firstly I'd have to say I agree with Rahman and Pharaoh. Spending too long on demo might lead to development of bad trading habits while too soon might only have you be prematurely accustomed to the system.

In addition since no one has yet to mention this, I want you to point you and anyone else who's new to this video linked down below and pay close attention to the phrase "90% of retail clients wipe out their account in about 6 months" (repeat listening to it if you must, it IS meant to scare you, lol).

Now ask yourself, are there only 10% of good traders out there in the market? Of course this seems like an impossible figure given the amount of knowledgeable traders around giving advice; I'd personally agree that this is not true. Google "world's one time largest hedge fund bankrupt" and you'll be surprised how even pro's can go bust.

So the end result is not totally about being labelled as a 'good' trader who makes several good trades; it's about being a 'profitable' trader. So, what's the secret?

I think it's important for fresh traders to have a system whereby:
1) The 'take profit' TP order IS ALWAYS BIGGER than the 'stop loss' (SL) order.
2) ALWAYS be able to control your emotions in regards to rule number 1.
3) Be disciplined (Do not keep changing your method and rules - Find yourself!).


I reckon with this in mind and adhering to it, you're already better than 90% out there who do not practice as such.

For starters it's easier said than done but in time, you'll get the hang of it :)

Cheers buddy, happy trading! :)


Well said. But many new traders think they can just fund an account and start making money. That is why the percentage of losing traders is so high.
 

Froso@FXNET

FxNet.com Representative
Messages
395
Demo account we use only for practice, I think we should get the maximum practice for strategy, planning, using different softwares or indicator then we should start the real trading, so I think minimum we should work one month on demo account.
 

hitfx

Corporal
Messages
164
There is no fix time frame of working in demo account and it is necessary that we should learn from demo account that will improve our trading knowledge and techniques so that trading can be done properly.
 
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