how long to stay on demo

Triantus Shango

Sergeant Major
Messages
1,372
short answer is: no. you just end up losing money right away, as opposed to later. but sure, you'll learn a lesson or 2. but why lose money right away when you can learn so much from demo/paper trading? also, since trading is a mind game, you should observe you mind state when trading demo, the emotions you go through, if any. then later, when trading with real money, repeat the observation experiment. perhaps your mind states will be the same, perhaps completely different. again, you'll have learned something crucial.

eventually, when all is said and done, you have to learn how to handle the pain of losing, especially losing real money. and learn how to handle all the other emotions that usually arise when losing--anger, sadness, despair, rage, you name it. and eventually, you'll to learn to let go of these emotions so that you can trade like a machine and only focus on fine tuning your craft, finding your edge, and using it to make profits.

finally, do not be fooled should you one day be able to, for example, quadruple your real money account, and now feel on top of the world. immediately observe that feeling, do not trade while elated, and let it pass--do not trade when you fill like 'now, i got it. i'lll be rich.' take a break, re-assess. control your emotions. become like a machine again. then go back into the fray, and grab the profits knowing that whatever profits you make, you are just only as good as your last trade and every trade is a new one. basically cultivate the mind of a monk--a money monk, that is. ;)

What do happen if we don't start with demo, just go directly to live trading? Sure we get lost, but can we learn faster than use demo account?
 
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rohmatul

Banned spammer for LiteForex
Messages
4
I've remember when i've became new trader. i spend about 4hours each days until 2 month more...
The first broker i've join is lite broker, and now it's become more famous broker...
 

Pharaoh

Colonel
Messages
19,927
What do happen if we don't start with demo, just go directly to live trading? Sure we get lost, but can we learn faster than use demo account?

Police and military training could be faster if live ammo is issued on day one and we immediately deploy the recruits into the field. Of course, there will be some unfortunate casualties, but that's the price of accelerating the learning process.

Think about it. If you've never even used a trading platform before, do you want to make all your money disappear because you hit the wrong button?
 

navyseal

Private
Messages
291
So demo account can help us to get familiar with forex trading so we can't avoid some basic mistake that could spend all our money.
 

Red Herring

Corporal
Messages
388
What do happen if we don't start with demo, just go directly to live trading? Sure we get lost, but can we learn faster than use demo account?

My personal believe is Yes, we can learn first. But why not for a while? be familiar with platforms with demo, thats all!
 

Josh Martinez

Recruit
Messages
3
Hey Carollynne,

Great question! I remember asking this myself. I think the answer is different for everybody. I share WaveRider's mindset that hard numbers are not a good answer to this question. I know that that kind of stinks because it isn't a straight answer, but it is also cool because, like with everything in the Forex, you are your own boss, you move at your own pace, etc.

I think you should trade in a demo account until you reach consistency where you're winning more trades than you're losing on a regular basis. Like Pharoah said, it's about being comfortable with the returns. Not only does this give you confidence in your ability as a trade, it shows that you are using strategies that work, that you know how to use effectively, and that your equity management technique is going to keep you safe. Now, everyone judges consistency differently, but the point is that you want to make sure that you aren't just getting lucky with your trades then moving forward with stuff that might not really work. Each person is different in this aspect. I've seen some people jump from demo to live in two weeks, others take their time and move over after a few months. It personally took me two months to get the confidence to move to a live account. My main focus was being able to predict ROI on my investment and being comfortable with my ability to execute the strategies properly before I wanted to make the big move and I think that taking my time here made all of the difference.
 

Whitesnake

Corporal
Messages
428
Trade in the demo account until you are confident of handling the real money efficiently so that you are not losing your capital money which is the main asset.
 

itkraze

Private, 1st Class
Messages
200
My personal believe is Yes, we can learn first. But why not for a while? be familiar with platforms with demo, thats all!

It is necessary that learning should be the first priority by the trader so that trading in real account become easy for the trader and a good and consistent profit can be earned.
 

Siba85

Recruit
Messages
2
Hello, I want to share my opinion with you.

It is enough for me to learn on demo account for 3 months, to be more confident and a self trader.

It depends on your choice and your way of learning... Learning the trading not only by the technical analysis but also the fundamental one.
 
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