how long to stay on demo

Demo account for 6 months is a must.
You can always open an account with 50USD and do some real trading if you feel confident with the Demo account after the first 2 months or so. If you loose the money don't fund your account again stick with the demo for the 6 month period.
 
Romeo, thank you for the advice, but I was only thinking of starting with a 500 account ;) lol, but I will continue doing my due diligence on brokers
there is definitely no problem if you start out with $500. You can even start out with even less, $100 or so.

the most important thing is you only risk a small amount at first. You can always up the amount as you gain experience.
 
The one thing I don't like about those demo contests is that they all seem to rank on profits only. This encourages people to try super-risky strategies.

I'd like to see a contest that ranks winners based more on profit vs. risks taken.
I agree, it promotes excessive risk taking with the aim of getting in the top 3 to 10 list.

In the real trading world, we are more concerned about reducing risk, which is the total opposite of what these demo contests promote.
 
Hi all, Iam new on forum but not new on FX

I played on demo account 2,5 years and later opened live account but someone can play 6 months and is ready for next step.
The main question is " Do you feel strong to play " ? but Yours ( wrong ) question is " how much time I have to spend on demo account "

Thanks

( Sorry about my english but is my second language )
 
Have to agree with mavforex: I don't think there is a fixed period of time a beginner should spend on demo trading. It all depends on a person's coping skills and emotional stability.

Sorry for being Captain Obvious :)
 
Hi all, Iam new on forum but not new on FX

I played on demo account 2,5 years and later opened live account but someone can play 6 months and is ready for next step.
The main question is " Do you feel strong to play " ? but Yours ( wrong ) question is " how much time I have to spend on demo account "

Thanks
your English is ok!

i think both questions are valid and can help the new trader gauge his readiness to jump into live trading.
 
Have to agree with mavforex: I don't think there is a fixed period of time a beginner should spend on demo trading. It all depends on a person's coping skills and emotional stability.

Valid point, but there's one other possible issue. If you are changing trading platforms, even the best trader will need some time to figure out which buttons to push.
 
Valid point, but there's one other possible issue. If you are changing trading platforms, even the best trader will need some time to figure out which buttons to push.
indeed they will need time, and they need to figure most or everything out soon!

I remember when I started trading years ago, I had a fat finger loss on Metatrader, pushing the wrong button. LOL
i hope new traders never let it happen to themselves.
 
One of my best early trades was accidentally opening a minilot when I mean to open a nanolot. Before I could finish closing the trade in panic, I'd made a few dollars. :)
 
hahahaha.... fantastic accident.
I am also guilty... I still commit the same thing every once in a while :D
 
Back
Top