How many test accounts did you need?

[Kennyrice]

I still learning. I have 3 demo accounts.

 

[Ary Barroso]

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

I guess, only one account would be enough if new trader can lead this account in the proper way! Having a long term plan is very much important.

 

[Onanak]

I think that whether you have one or three demo account is irrelevant. The most important thing is that you are using these accounts to increase your knowledge and test different strategies and indicators. You can use your different demo account to test different stuff on it, and it is perfectly ok

 

[Adam Jackson]

Every forex trader will require basic knowledge in sufficient amount. Otherwise no foreign currency exchange trader can plan the best for his future trading journey. As every trader can have unique needs and every trader has unique abilities to cope with the market, by this means how much time a trader will require will different from the other traders. Thereby each trader must employ time as per his abilities actually.

 

[37riched]

You mean here probably some demo accounts ? I think that something good will be come out anyway out of it, correct ? Otherwise I do not see anything which will come even close. Each broker have it's own limitations and new features, so as many as you like.

 

[Ary Barroso]

You mean here probably some demo accounts ? I think that something good will be come out anyway out of it, correct ? Otherwise I do not see anything which will come even close. Each broker have it's own limitations and new features, so as many as you like.

I think, new traders should focus on quality instead of quantity! Because, without spending quality time; the demo sessions will be meaningless!

 

[Zalea]

I use two demo account because one of the most important benefits is the fact that you can get some practice in without losing your hard-earned money. The demo account effectively trades but you don't make or lose money coz its fake money.

 

[ForexTus]

I just 'messed' up a test account on forex.com and, since I didn't have too much time to understand how this all goes, I'm sure I would need at least 1 more go for a test if not more.

Were you able to learn faster? How many test accounts did you need?

I went through 4/5

 

[vicjon1995]

There is no limit yet it is advised to keep 2 or 3 for better management.

 

[KISvalue]

That's gud idea. Planning everything in the beginning itself is a great start.

i have found it important to mess around and test every thing out on the first demo so you can under stand it all better, then set up a new demo and practice what you are learning good or bad, then i have a 3rd that i treat as a live account

 

[KISvalue]

In the early days, I've opened plenty , in one broker itself. Once, while trading , the trades were closed & the entire account got closed suddenly by the broker, I still remember that incident. Due to the continuous opening of demo accounts or they didn't like my phone I gave while registering, I still cudn't figure out why that happened.

 

[Dora_WalletInvestor]

In the early days, I've opened plenty , in one broker itself. Once, while trading , the trades were closed & the entire account got closed suddenly by the broker, I still remember that incident. Due to the continuous opening of demo accounts or they didn't like my phone I gave while registering, I still cudn't figure out why that happened.

Let's just hope that never happens with a real account 😀

 

[Uaredaty]

You can blow up demo account whenever and however you wish. Dont bother about it. I=They are meant to be accounts for testing. Just make sure not to do this with real account and everything will be fine

 

[yeneffer]

I have two account for backtesting to strategize and all.

 

[Akwin]

Hello, currently I'm still trading on a demo account, I feel like I still have a lot of things to learn about, can't stop learning, since always there are new ideas to test.

 

[danielbro]

Currently? I only have three, one for backtesting, one to try new instrument and one that is useful for my strategy in trading

 

[e_abrams]

Generally, a trader doesn't really need more than one test account at a time. If you blow one, make another.

 

[Resolve]

Generally, a trader doesn't really need more than one test account at a time. If you blow one, make another.

I am making use of the 2 Test accounts and the reason is to be able to test different Trading strategies in them at the same time.

 

[hk_09]

Generally, a trader doesn't really need more than one test account at a time. If you blow one, make another.

Agreed, I also think one is fine. But yes, again depends on personal preferences.

 

[e_abrams]

I mean, if you have wiped out one you are going to need another if you wish to continue trading?