how long to stay on demo

[Shaun89]

Test out your strategies, find one that works for you and your style and test it over 3-6 months for sure. When you do go live, don't go mad with a big bank and I would argue use a demo amount that is realistic to what you might use live. No point in testing a 100k account when you can only use 500 in real life to start.

 

[Forex bison]

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’s nice to be consistently making money for atleast 6 months I think

 

[Grace1995]

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

I think six to eight months is considered a good time frame for practising before going live.

 

[Balladotus]

Opinions of traders are dispersed on this issue. Some believe that three months are enough to master trading and move to a real account. Others believe that it takes about six months to gain enough experience. I think that only you should understand when to open a real account. You should see that you don't have any problems with your demo account, and you are making a profit, and then you switch to a real account. But I do not advise you to give up the demo account completely because you can use it to test new trading strategies.

 

[Malsa]

I recommend trading on a demo account for about 3-5 months. This time should be enough for learning the basics of trading and testing various trading strategies. You should also learn how to manage your money. Then you can open an account with a small deposit and learn how to manage your emotions.

 

[bigdolly]

I think staying 3 months is enough because demo is good only to learn functionality of trading platform and market mechanics. The rest is experience you get from trading itself - opening and closing orders, analysis and forecasting, developing and testing trading systems.

 

[LeonRocky]

Very simple until you are ready to go live and when you know your strategy works

 

[Akimuro]

It's very good that you understand the need for a demo account. I think that with active training and development, you will have about four months on your demo account. Then I advise you to open a small account and trade with small investments. But even after opening a real account, I suggest you not to stop trading on a demo account. You can practice your trading strategies and learn how to properly manage your capital without being afraid to lose your finances.

 

[Donovan.CC]

I would suggest not to rush thing in forex. Trade in the demo account as long as possible till you are confident enough to trade live and are ready to accept losses because there is no exact duration on how long a person should spend trading in a demo account.

 

[Charlieboy885]

I worked on a demo account for around 6 months before moving onto a live account. I still keep my demo account open to test strategies from time to time. I think it's a handy tool which isn't always utilised properly.