How many test accounts did you need?

radex78

Banned
Nov 15, 2015
676
17
54
45
Yes un demo account actually will very useful if we want to use account to learn seriously, but might in demo only for fun and ever get learinng from practicing hence demo account might only waste of time
 

inggo

Banned
Jan 13, 2012
498
12
59
Philippinese
just use as many demo accounts as u want till u think u are ready, i lost track of how many demos i had, but before going live at hotforex i think i did 3-4 demos in a span of 6 months, and i do still keep a demo accounts.
 

Twin butterfly

Active Trader
Apr 11, 2016
366
7
29
35
Trade on a demo for as long as it takes for you to become comfortable and decently consistent, as well as finding your own strategy. Try to treat it as if it's real money as best as you can. That way you can learn best.
 

radex78

Banned
Nov 15, 2015
676
17
54
45
Trade on a demo for as long as it takes for you to become comfortable and decently consistent, as well as finding your own strategy. Try to treat it as if it's real money as best as you can. That way you can learn best.
It will good if trader they can learn seriously in demo account with treat demo like as on real account, learn manage money with risk management and learn plan trading that havig good result with making trial and error etc
 

aqibFXmart

Trader
Jul 5, 2016
28
2
9
34
if I was a reckless trader. so, I've never made a test strategy on a demo account. I only use demo account when I first get to know the forex business. and I still have a lot to learn tools for trading.
 

Andrew101

Active Trader
Oct 3, 2016
199
9
34
44
Manchester
I have two Demo and one Live Account. You'll definitely do better on a demo than live account. Why? The simple reason is because, on a demo account, you are emotionless. There is no attachment to the money in your demo account. So nothing, simply nothing would cloud your judgment or influence your trading decisions. But that isn't the real world of Forex. You'll never get the real experience if you focus more on Demo Account. So The sooner you move to a live account the better it is for you. My Advice? Start small and build up, then you will gain an understanding of what the real world trading is all about.
 

nikita sharma

Trader
Oct 27, 2016
46
0
7
30
more demo accounts help you to learn more and a trader is always a learner.... so make th demo accounts and keep learning.however it is necessary to be selective while making an account. i m using signaltimes and its worth using.
 

wisetrada

Active Trader
Mar 4, 2014
53
5
39
One demo account is enough to learn. All you need is patience and focus to take your mind off all the hurry to move to a live account and start making real money. Just take your time on your demo and master your trading system.
 

Winjak

Active Trader
Sep 22, 2016
57
9
29
48
Jakarta
I agree that one is enough if you trade live on one type of account. I had (and still have them) 2 demos, one for Classic, one for ECN. I started with them more than three years ago. It was the other broker , I switched to another one later, but types and margin/leverage/etc remained the same
 

Martin Gaptil

Trader
Mar 5, 2017
58
10
9
47
Well, I used only one demo trading account in my practice session, even my demo trading capital was only 300$, since I wanted to use my practice account as like my live trading account! And yes, I also started my live trading account with the same amount of money! But it’s true, I used my demo for a long time, I worked with multiple trading strategies in there!
 
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renez

Trader
Apr 8, 2017
52
1
22
34
Yes, a demo is a very useful thing, at one time that's exactly how I began trading, getting used to forex. Of course I got the hang of the whole thing on a cent, but a demo is a necessary step in the development of any trader.
 

jameswilliam

Trader
Jan 31, 2017
32
1
7
37
Well, I used only one demo trading account in my practice session, even my demo trading capital was only 300$, since I wanted to use my practice account as like my live trading account! And yes, I also started my live trading account with the same amount of money! But it’s true, I used my demo for a long time, I worked with multiple trading strategies in there!

Agreed, demo accounts should be treated as like the live trading accounts. Although, there cannot be any defined number of demo accounts to be used before live trading. Having one demo account is also sufficient if you trade efficiently with proper learning & strategies. However, if one wants he can also opt for 2-3 demo accounts with different brokers to test the trading conditions.
 

Winjak

Active Trader
Sep 22, 2016
57
9
29
48
Jakarta
Agreed, demo accounts should be treated as like the live trading accounts. Although, there cannot be any defined number of demo accounts to be used before live trading. Having one demo account is also sufficient if you trade efficiently with proper learning & strategies. However, if one wants he can also opt for 2-3 demo accounts with different brokers to test the trading conditions.
Anyway, not all the conditions will be clear. Moreover, you can never test your psychology on demo :)
They say, many brokers have slightly different charts for demo and live, probable people who say this, used to work with market makers. Though , I've never noticed great difference between my demo and my live acc (opened with one broker)
 

jameswilliam

Trader
Jan 31, 2017
32
1
7
37
Anyway, not all the conditions will be clear. Moreover, you can never test your psychology on demo :)
They say, many brokers have slightly different charts for demo and live, probable people who say this, used to work with market makers. Though , I've never noticed great difference between my demo and my live acc (opened with one broker)

I absolutely agree with you, psychology is the one factor which makes huge difference between demo & live trading. But if one keep control over emotions and treat demo to be the same as real; to some extent we can avoid psychological barriers.
 

Michelle Yeoh

Trader
Jul 9, 2017
83
10
9
45
I used only one demo account, but the thing is I used my demo for a long time! On the other hand, I used micro account before starting my professional live trading.
 

Banni

Trader
Apr 20, 2017
49
2
14
40
I have one demo account as a rule, but I've had different trading accounts at different times, sometimes one, and other times three ones with three different brokers.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
71
39
35
Well, I used only one demo account but the duration was too long! Basically, I used that practice account fully one year! Before opening this demo, I learned basic things like how to use demo! So, I wasn’t so quick, as a result now I am enjoying my live trading account!
 

ashouq

Active Trader
Feb 21, 2017
167
14
34
34
I used only one demo account, but the thing is I used my demo for a long time! On the other hand, I used micro account before starting my professional live trading.

Demo account is a good thing to learn and almost every new trader should trade it for a minimum of six months before going to trade live.
 

Ary Barroso

Active Trader
Jul 9, 2017
908
71
39
35
Demo account is a good thing to learn and almost every new trader should trade it for a minimum of six months before going to trade live.

I respect your opinion; but I think traders shouldn’t have any particular target on demo like; 6 months-8moths! Because, new traders need to use the demo until they get a consistent result.
 

Uaredaty

Active Trader
Jan 19, 2019
68
3
44
31
Certainly you should not put limitations to use of demo account. You should use it until you get confident that you can trade on live account with profits. When you are sure, then switch to live environment but with minimum initial investment