How long to demo and when to invest

Messages
239
Two months practice in the demo account is good rather than a week, but almost traders fail and cannot maintain account live trading more than six months, so I think better practice in demo account at least six months, although trading demo account has own drawbacks, like as not involved emotion or psychology, start with big capital, meanwhile in real trading use small capital, etc.

I like two months I think its enough time to the bones of a strategy to then add the emotions of live trading
 

fxoday

Recruit
Messages
540
I like two months I think its enough time to the bones of a strategy to then add the emotions of live trading
Eventually, traders will jump into real trading, usually, first-time work in real trading will face different minds and emotions, but not exactly like it, depending on each trader, because each human has own psychology.
 

bigdolly

2nd Lieutenant
Messages
1,155
I spent about 4 months training on Hotforex demo and never touched live account before I devised a strategy that yields good return which is high enough to tolerate transaction costs on live account.
 

RachelEB

Corporal
Messages
118
I’ve spent quite a lot of time practicing on a demo account about 6 months in total then moved to opening a small account to practice trading with actually money. When did you feel comfortable enough to invest a substantial amount into trading ?
After a month on demo, once I had learned how to use MT4 etc, I was heavily influenced at the time byt the trrading psychiology of how different demo and real cash were so I was ona micro account pretty much from the off.
 
Messages
133
Eventually, traders will jump into real trading, usually, first-time work in real trading will face different minds and emotions, but not exactly like it, depending on each trader, because each human has own psychology.
Psychology is somewhat different for everyone, but there are a lot of biases and inclinations that are mostly universal to all people, and it can actually be really useful to learn about them.
 

bigdolly

2nd Lieutenant
Messages
1,155
Demo until winning consistently, there is no time limit
Yeah but results often differ from live account this is the biggest problems that traders face during transition. Transaction costs heavily influence trading performance and this should not be underestimated
 

fxoday

Recruit
Messages
540
Psychology is somewhat different for everyone, but there are a lot of biases and inclinations that are mostly universal to all people, and it can actually be really useful to learn about them.
Psychology is always involved in every manual trading, if any trader having a good trading strategy they can create an automatic trading-based strategy to eliminate emotion, learn how to control emotion is included in the lessons. of trading psychology.
 
Messages
133
Psychology is always involved in every manual trading, if any trader having a good trading strategy they can create an automatic trading-based strategy to eliminate emotion, learn how to control emotion is included in the lessons. of trading psychology.
Yes, automatizing your trading can take a huge burden off your shoulders, it's a great way of taking emotions out of the equation. But it's also something that takes a lot of experience, at least I believe the best way to automatize is to develop a strategy yourself.
 

pezz55

Sergeant
Messages
140
I used a demo account for around 6 months before I went live with an account. I always have a demo account in the background though. I used it to rebuild confidence if trading isn't going so well or to test out new strategies. It's a very useful tool and shouldn't be underestimated.
 
Top