How long to demo trade - Page 4
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  1. #31
    Join Date
    Jul 2013
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    16
    You should trade on Demo as long as you have developed your winning strategy. What is the point of opening a real account if your Demo is losing?

    If you don't develop a winning strategy, then you can still open a real account, but just for hobby

  2. #32
    Join Date
    Apr 2013
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    204
    Quote Originally Posted by janks peter View Post
    Trade demo as long as it last, there should be no limit until you are fully satisfied and feel ready to trade with real account. Even if the time limit has elapsed, you can restart again.
    I demo trade for 6 weeks but that was after spending and losing quite a money on real account. It really helped me a lot in improving my trading.

  3. #33
    Join Date
    Jul 2013
    Posts
    15
    For me, I demo trade for several days only to get used to brokers platform or when I bust my account,
    In the end my demo is the real account where I can feel the market and all of emotion which is problematic to traders,
    what I found:
    1. Trading is about discipline
    2. Trading about mental control
    3. Its about defending ourselves from margin call

  4. #34
    Join Date
    Nov 2009
    Location
    Gozo
    Posts
    627
    I spent about 3 years on demo, which was what it took to get to the point where I was breaking even most weeks, in retrospect, I probably should have switched sooner.

  5. #35
    In my opinion, You Should demo trade only until you fully know your trading platform,
    And not a day more,

    And ofcourse, you must have a working method, after that you Should open a live micro acount with real money,
    The reason for that is because you Cannot go from demo to a winning trader even if you have a method that show Good profit in backtesting and even forward testning on demo acounts, Why is that you may ask? The reason is your ego and psychology,
    You do not yet master your self on a psychological level, you might think you do, but believe me, you do NOT,
    The only way to learn to master this is screen time on a live acount, a small micro acount is ideal because at the same time you feel the heat of battle, you dont risk much money, you Should be prepared to loose your first acount, the fear and greed Will make you do things that is not in your strategy, such as, exiting winning trades to soon, waiting to exiting loosing trades too long, make entrys too large to get even, and you name it, fear and greed is powerful emotions and it take a long time to conquer Them,
    This is something you Cannot experience on a demo acount, and you need to, so there is no reason to spend more time Than neccesary on a demo acount, it is just a waiste of time. There is no fear of loosing papper money, so that is worthless training, the psychology is the hardest part to master and probably Why there is so many loosers in this game, been there, done that, take it from a guy with 5 years of live trading experience, and im still not graduated.

  6. #36
    Join Date
    Apr 2013
    Posts
    204
    Quote Originally Posted by simbafx View Post
    I spent about 3 years on demo, which was what it took to get to the point where I was breaking even most weeks, in retrospect, I probably should have switched sooner.
    3 Years is a hell of a time, I only would say that 3 months are too much on demo trading. Then you must switch to micro or cent account and start trading live in practice format.

  7. #37
    Join Date
    Jun 2013
    Posts
    55
    Quote Originally Posted by PhilanthroPIP View Post
    Hi there. I'm a newbie. I've been reading through a lot of posts and the consensus is to definitely demo trade before even thinking about using(losing ) the cash. For those avid traders, how long did you trade on a demo account before moving over to a cash account. I know I can't base my timeline on any other individual's experience....

    thanks.
    These days, it is not proper for one to demo trade for more than one month. I think the demo platform is just to help you get familiar with the many options of trading such as "how to place a trade" How to set ST and TP, how to use the charts and how to open and close a trade. These things wont take you more than one month to learn. After learning these things, you need a micro account to learn how to trade properly.

  8. #38
    Join Date
    Jun 2011
    Location
    Santa Cruz - Bolivia
    Posts
    1,965
    Quote Originally Posted by Kellyrock View Post
    These days, it is not proper for one to demo trade for more than one month. I think the demo platform is just to help you get familiar with the many options of trading such as "how to place a trade" How to set ST and TP, how to use the charts and how to open and close a trade. These things wont take you more than one month to learn. After learning these things, you need a micro account to learn how to trade properly.
    yeah, the same thing

  9. #39
    Join Date
    Nov 2011
    Posts
    2,429
    To study trading 'on paper' is one thing, but to practice and become proficient in the art is quite another.

    Almost anyone can make money on imaginary trades, for these require no risk of any kind - the mind is free from the strain which accompanies an actual venture; fear does not enter into the situation; patience is unlimited.

    All this is changed when even a small commitment is made. The trader of slight experience suffers mental anguish if price does not go his way; he fears a loss, hence his judgement becomes warped, he closes the trade in order to secure mental relief.

    As these are symptoms of inexperience they cannot be overcome by avoiding the issue.
    The business-like thing to do is to wade right into the game and learn to play it under conditions which are to be met and conquered before success can be attained.

    After complete absorption of every available piece of educational material it is best to commence trading in small lots.
    This may not suit some people with a propensity for gambling.



    The above words of wisdom are not mine, they are the words of Richard Demille Wyckoff, perhaps one of the most forward looking traders of all time. He had a passion for educating ordinary people at no cost to them, he hated to see them lose their money.

  10. #40
    Join Date
    Apr 2013
    Posts
    204
    Quote Originally Posted by Kellyrock View Post
    These days, it is not proper for one to demo trade for more than one month. I think the demo platform is just to help you get familiar with the many options of trading such as "how to place a trade" How to set ST and TP, how to use the charts and how to open and close a trade. These things wont take you more than one month to learn. After learning these things, you need a micro account to learn how to trade properly.
    You are right, once you know all the necessary operations that are required to execute trades, then you can open a micro/cent account and can practice easily on it.

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