how long to trade in demo before going live?

Discussion in 'Newbie Questions' started by beginnertrader2019, Mar 7, 2019.

  1. hi guys, Im a newbie to the world of trading

    How long do you recommend I stay in demo before going live?

    Would love to hear peoples thoughts on this thanks :)
     
  2. Enivid

    Enivid Administrator Staff Member

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    Until you feel confident enough in your strategy and in your skills. Even then, it is better to start with a smaller live account to test both your broker's live execution and your ability to handle the emotional side of trading real money.
     
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  3. Zack King

    Zack King Trader

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    I would recommend demo-ing until YOU feel confident to start live trading. Also maybe try different broker demos to get a feel of the difference in spreads etc.
     
  4. Marie J Thomson

    Marie J Thomson Trader

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    Until be confident in yourself. This is the most important part of trading if you feel confident then you can go live. And there is another technic available you may try first a smaller account to test your broker performance.
     
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  5. Fxortrader

    Fxortrader Trader

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    many facilities provided by brokers in testing their servers, by opening their demo account or demo contest.
     
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  6. Ervin Samue

    Ervin Samue Trader

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    At least - 6 Months and your confident while say "YOU CAN DO" then ..
     
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  7. Fxortrader

    Fxortrader Trader

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    Yes, totally correct ; Sure; is the key to learning in forex.
     
  8. Marie J Thomson

    Marie J Thomson Trader

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    Yes sure. But when we get confident we should check our broker performance on live trading. So we should check them with a small account.
     
  9. ScottCarsonMVP

    ScottCarsonMVP Newbie

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    Every trader is different, but you need to be confident in demo to profit
     
  10. ZEB4X

    ZEB4X Trader

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    Hi,

    I don't think time is the issue. What is important is that you have a strategy that you have committed to. If you are still jumping from one indicator to the next you are not ready to go live. And when you do believe in your strategy enough to go live, grow a small account. you'd be surprised how much real money changes thinking.

    Cheers :)
     
  11. thanks for all the answers so far guys! really appreciate it :)
     
  12. Helloyees

    Helloyees Trader

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    Start trading in your free time. That way doing that on evenings and close to night times after work you will see some steady results. Don't be so happy cause it's learning account and real life situation could be much worse than that. I would say like a year or so or even more.
     
    Zack King likes this.
  13. Zack King

    Zack King Trader

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    I agree with you here in the sense that every trader is different and take different amounts of time to learn. Just an example, some of the most experienced traders I know practices on demo for well over a year before thinking of choosing a live account. And I think the result of their success definitely stems from using various broker demos first to understand truly how different leverage and spreads really affect your trading style and trades.
     
  14. Properly

    Properly Master Trader

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    Hi,

    There is no time limit. First of all you should focus on HIGH QUALITY TRADING on your demo. What I mean by HQT is trading 100% with your strategy. On real account is no place for discretion, you have to 100% follow your trading plan. It is best to start your journal and writedown your mistakes in following the plan. If there is no more mistakes you should start to trade on small (big enough to fell any emotions during trading) real account to accustom your psyche with concept of trading using real money. When money from TP and SL become just numbers for your psychic you are ready to trade full size.

    This is my opinion :)
    Cheers
     
  15. Ann

    Ann Active Trader

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    I'll tell you something you probably won't like. The first 5 years every trader only lose money on Forex. I have not met successful traders with experience of less than 5 years. There are a lot of chatters, successful traders on the forums, but they are not in the public monitoring of trading accounts. Therefore, trade on the demo for at least 5 years.
     
  16. walpants

    walpants Newbie

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    Hi, I dont think you can put a time scale on it as its down to how you feel. I would advise staying on demo until you are consistently making a profit, once going live i would also suggest keeping a relatively small account until you get a good feel for it.
     
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  17. momo3HC

    momo3HC Trader

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    As long as you`re feeling needed. But remember that even experienced traders are using demo accounts for testing strategies, new knowledge and etc.
     
  18. new digital

    new digital Master Trader

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    until demo makes 2 % a week for 6 months

    6monthst.gif
     

    Attached Files:

  19. copper

    copper Newbie

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    demo should be continued as long as you trade in forex. demo is the best way to test your strategies, without risking your money.
    as for beginners, you should only try and go live, when you think you are ready to risk your hard earned money without any panic.
     
  20. new digital

    new digital Master Trader

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    They could be losing for 8 years or some could be loosing for 16 years.:)

    8 Years Later - Still Not Winning

    https://www.forexfactory.com/showthread.php?t=716482
     

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