After a few months of demo trading you can open a real account with small amount of money and start trading on it to get used to the psychology of trading and loosing real money. You can continue trading on both demo and real accounts. Only deposit more money on the real account if you have a working strategy, can stay in the game with small account and are able to stick to your money management rules.
how long to stay on demo
- Thread starter Carollynne
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downtrend
Master Sergeant
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It is your learning speed that determines when to go to live trading. Demo is a way to get training for trading. When you are enough practiced with risk management on demo accounts you will feel now trading is easy to understand and handle for you . Then start live trading with small investment .
Forex Gump
Recruit
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Hi Downtrend,
Pharaoh messaged me and told me to try and catch you this way.
Just checking to see if you got the conversation messages I have sent you?
Hope to hear from you soon.
Hope you have a happy day.
Cheers mate.
Pharaoh messaged me and told me to try and catch you this way.
Just checking to see if you got the conversation messages I have sent you?
Hope to hear from you soon.
Hope you have a happy day.
Cheers mate.
William Barnes
Banned
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Welcome to the forex market. I must say what you have seen about demo trading accounts is true. Many brokers are offering demo trading accounts so that beginners and immature traders can gain at least the basic ideas about forex market and forex trading. So it is imperative that you should practice your trading with demo accounts as you won’t lose any money. The answer to your question is relative.
Different traders have different perspectives, so their analytical abilities also differ. So what a smart trader can learn in 6 months, a immature trader may not be able to learn in that time. So when you will become confident that you can successfully trade with live accounts, you can start trading.
Different traders have different perspectives, so their analytical abilities also differ. So what a smart trader can learn in 6 months, a immature trader may not be able to learn in that time. So when you will become confident that you can successfully trade with live accounts, you can start trading.
EURUSD
Sergeant Major
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Maybe we often hear if many trader fail, around 90% trader fail in forex market less than six month, so I think will included good preparation if newbie they trading on demo account for learning trading at least six month, during learning they must learn how to discipline with risk management plan and also discipline to implemented system trading according rules, its important to measure how good one system trading for several month
It is real high % of traders fail in trading because they had not enough practice on demo account .They invest a little time as 1 or 2 months , are anxious to do live trading. Live trading appears hard to them and loss in their hand. If they spend some more time to understand forex they can do good with trading As they had more experience they feel now they are better than last months they did .
D.Fernand
Recruit
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Trading on demo is a very useful practice, I agree. But I think that it is more useful, try demo and after the first progressive trades try live and again demo , then live. This way will help to keep in mind a pressure of the real market and also training on the demo.
downtrend
Master Sergeant
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Few months are not enough to do good trading as most of traders think they can handle trading well in 1 or 2 months . Actually forex need years to know the real nature tips and trade management . Risk management is also important skill that need a rich time to know its details. Less than 6 months is a short time period it should be more practice on demo .
EURUSD
Sergeant Major
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There are certain trader that he willing to spent time pratice in demo account until few years, he not yet confident to start on real account because still not sure with own capability, but if in demo account can seriously to learn and practice, it will help much to start trading on real account, as early step using real account as trader can use cent account, some broker offer cent account that suitable for beginner because will lower risk
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