how long to stay on demo

good morning everyone, I am new here and browsing the forum.
I agree with the other posters there is not a fixed time to stay on demo platform, I was using demo for one year and still use it on occasion.

Muller
 
Hi all,
It is clear to all that no one should directly join in the real trading .At first he has to know the basic need and behavior of the forex business. It is easy but difficult for the newbie .There is a chance for them to get real experience by using a demo account .No need to invest there in real .for getting experience two month is better .But it can be better for using the demo account in three months.
 
I think it's a bit similar to asking how long is a piece of string (twice the distance from one end to the centre :p ) but yeah by that I mean it'll depend... it'll depend on experience, the strategy you're using, whether it works right from the off or if it needs tweaking... I'd suggest staying on a demo long enough that you can see yourself making nice consistent weekly gains in a variety of different market conditions.. then when you're seeing that you could switch to a live account, and then you'll have the emotions to deal with ;)
 
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 :)

Hi Carollynne, glad to know you, welcome to "THE WORLD OF TRADE"

There is no need for you to rush to a real account. I was a beginner for you and I took 1 year and a half until I use with the trading strategy. For me to stay in the demo account for long time is, to make sure that I am able to minimize the lost and maximize the profit. And I have to learn to control my emotion and greed over the profit.

Happy trading.
 
to make sure that I am able to minimize the lost and maximize the profit. And I have to learn to control my emotion and greed over the profit.

Did you notice a difference when you switched from Demo to Live trading in regards to the emotional side of greed and it being real gains? Or was the year enough to train your mind to just do it almost on autopilot?
 
I strongly recommend to at least trade for 3 full months in demo account, it will be a quarter and you will almost go through all the major events/news that happen during the course of a quarter. So 3 months is minimum but if you want to practice more, you can even for a year.
 
3 months is not enough. you won't "almost go through all major events" in that span of time, since there are quarters when the FX market is quiet and other times very volatile.
 
It's also a personal thing. If you've traded other markets with some success, you probably need less time on a demo in forex than someone who's never traded before.

What it comes down to is this. If you've got a workable trading system that makes profits in demo for at least a few months and the system would remain profitable if you added a couple pips of slippage to each entry and exit, then you can consider trying it out on a small live account. For some people, this could happen quickly. For others, it could take more than a year.
 
I even trade with demo account while trading live. I know there are some differences between demo and live accounts but we still need demo account for testing or to get information about one new broker.

IMO, 3 months sure are not enough with demo.
 
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