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how long to stay on demo

Discussion in 'Beginners Bootcamp' started by Carollynne, Apr 18, 2012.

  1. nahiyar

    nahiyar Private, 1st Class

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    Having so much patience with demo you can do it for 1 year but it is almost impossible. As human nature is he wants results and results are not shown in hand on demo accounts. Traders hardly do demo practice for a couple of months then they want actual money, profit in hand. The main thing is yur learning when you learned enough in months and apply carefully on live trading you can do parallel demo trading for advanced skill and real trading to get real experience.
     
  2. bigdolly

    bigdolly Sergeant Major

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    Yes it can be changes in volatility or reversal of the trend (or emergence of a new one). We have to adjust our trading strategies to shifts in fundamentals before estimating their performance.
     
  3. RachelEB

    RachelEB Private, 1st Class

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    In essence trade demo as long as you need to.

    Personally if your brand new, demo is about learning how the software works and to use it initially. Then to practice as you learn the skills of trading and finally when you start developing your strategy, use it to test thoroughly that your trading edge is effective. How long that takes each person is an individual thing.

    Don't jump into a massive account either, as trading live with real money doesn't just switch over as the human brain is another hurdle to overcome. Take on a small account and compound it up so you learn to control your emotions as you go.
     
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  4. georgequayle

    georgequayle Private

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    until youre comfortably making profits
     
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  5. momo3HC

    momo3HC Corporal

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    Other way is to back test it but i`m not really sure how efficient it is.
     
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  6. bigdolly

    bigdolly Sergeant Major

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    I have been trading on Hotforex demo for 6 months before I went live. I think it is sufficient time to learn functionality and create your own basic trading strategy and money management rules.
     
  7. TJ Forex

    TJ Forex Private

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    As long as you need, and as long as it takes to become profitable.
     
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  8. walpants

    walpants Private, 1st Class

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    there just isnt a time limit you can put on it, everyone is different, i went live with a small account quite quickly but tbh im still not really profitable so maybe i made the wrong decision
     
  9. RachelEB

    RachelEB Private, 1st Class

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    Exactly that!
     
  10. bigdolly

    bigdolly Sergeant Major

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    I think 3 months is enough especially if you learn lessons from your mistakes. But still demo platform is useful to backtest trading strategies I should say it's a really powerful tool if you understand significance of statistics and probability in trading.
     

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