how long to stay on demo

Ken Smith

Private
Messages
104
Hi there.

I'm still a newbie. I've been reading through a lot of posts and the consensus is to definitely demo trade before even thinking about using or losing my cash. For those avid traders, how long did you trade on a demo account before moving over to a live account. I know I can't base my timeline on any other individual's experience....but would just like to hear a few suggestions :)

It will depend on you. You have to understand this. You know your capabilities better than anyone else. Some people start live trading after a few days demo trading. Some people start trading with real money after 6 months of demo trading. Everyone's psychology is not the same. And the capabilities of taking risk is also not same. Ask yourself whether you are prepared or not for this
 

EURUSD

Sergeant Major
Messages
1,133
It will depend on you. You have to understand this. You know your capabilities better than anyone else. Some people start live trading after a few days demo trading. Some people start trading with real money after 6 months of demo trading. Everyone's psychology is not the same. And the capabilities of taking risk is also not same. Ask yourself whether you are prepared or not for this
Yes indeed eventually all decision will depending with us as trader, but usually if lack on experience let say only practice in demo around a week or lesser usually will quickly facing with failure, so we need to make sure with our capability along we trading on demo account, if often loss in trades its mean not yet ready start on real account
 

nahiyar

Private, 1st Class
Messages
765
Of course starting weeks are trials there will be certainly many failures in trading. In demo one can get better practice where his money not goes waste. when we are fully capable to understanding market , able to manage risk and think realistically to take risk reward then it is time to go to live trading for further improvement continue demo trading .
 

Anthony23

Recruit
Messages
86
Spend as much time with the demo account as you need before you are ready to work with the real one. It's actually even better to start with the cent account.
 

Vlad_Vahnovanu

Private, 1st Class
Messages
72
I'm always using demo account to test indicators or estimate markets condition. I guess demo is really necessary even for pro traders.
 

EURUSD

Sergeant Major
Messages
1,133
Spend as much time with the demo account as you need before you are ready to work with the real one. It's actually even better to start with the cent account.
After practice on demo account and felt confident, then we can trying trading on cent account, will good if on demo account at least six month, if during these period of time already finding suitable and profitable system, hence can trying to start on cent account to built up good psichology trading
 

nahiyar

Private, 1st Class
Messages
765
I am fan of cent accounts because they give you an experience that will not match to demo trading. Actually live trading and its psychology is change than of demo trading. Cent accounts give you chance to face live market with real trading decisions and its effects. Then trade management is will easy for a trader , he knows how much and how he can do trading with market.
 

Melvin Leon

Recruit
Messages
54
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.
 

EURUSD

Sergeant Major
Messages
1,133
Some trader they giving suggestion for newbie to practice on demo account at least six month, because so many trader fail and can`t maintain account more than six month, so if newbie practice on demo account at least six month, and they can look performance during these period of time, if they can really finding suitable and profitable strategy, hence will makin confidence and start on real account with cent account
 

Vlad_Vahnovanu

Private, 1st Class
Messages
72
Demo account is one of the best tools for traders, which allows you to check strategies and indicators, as well as just practice, if necessary. Before switching to a real account, it is recommended to use it for several months, and then regularly when applying strategies
 
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