How long to demo trade
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  1. #1
    Join Date
    Apr 2006
    Posts
    11

    Default How long to demo trade

    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.

  2. #2
    Join Date
    Apr 2006
    Posts
    20
    One of the sites I was at recommends you demo for 30 days. I would say that is probably a pretty good time frame. I wouldn't even demo, until you have filled yourself with trading info. Make sure you are extremely informed prior to demo trading, just so you don't get discouraged. If you demo trade prior to becoming informed you are just setting yourself of for failure.

  3. #3
    Join Date
    Apr 2006
    Posts
    23
    I plan to demo for a few months, I am not sure this is good or not. I think I will try out a few different trading strategies for a bit and see what works best for me. I would say demo until you are comfortable enough to do it.

  4. #4
    Join Date
    Apr 2006
    Posts
    21
    I agree with shiny, you should probably demo for as long as you need. Granted you are never going to be 100% confident when your money is on the line, but there is no hurry.

  5. #5
    Join Date
    Apr 2006
    Posts
    22
    There is no hurry, Demo until you are ready or as ready as you ever will be.

  6. #6
    Join Date
    Apr 2006
    Posts
    4
    I agree with trader and ibpippin. There's no rush. This is your money and you need to make sure you can make the right decisions a good percentage of the time.

  7. #7
    Join Date
    May 2006
    Posts
    126
    Some online trading companies allow you to practice for 30 days but then, you can always find many other companies who are more than willing to give you a chance to try theirs, too.
    My suggestion, practice as long as you want, take advantage of the available information that you can get, enjoy the practices and when you feel that you are capable, that is the only time you start.

    Goodluck!

  8. #8
    Join Date
    Sep 2008
    Posts
    7
    Im newbie here, Im going to try the MT4 for practice. I think for few months but, this time is the end of year...
    Do you think is a good time for start up?

  9. #9
    Join Date
    Mar 2006
    Location
    Babypips, USA
    Posts
    533
    demo trade for at least a year.

    This will give you time to learn, practice and improve your skills. You will also get a chance to see different market environments. Every day is different, and the wild volatility that we've seen the past few weeks probably won't last forever. There will be periods where the markets barely move at all. Would your system and strategy work then? Would you be able to recognize a shift in trading environments and make adjustments? That ability and experience probably won't develop in only 30 days of demoing. Actually, I'll guarantee that.

    There's a lot to learn, so don't be in a rush. Take the time to learn it right and make small improvements every day. Unless we go to a one world currency, there will always be opportunities to be there...k?

    Also, please read my post on expectations. This may help you get your mindset right at what you should expect in your Forex education journey:

    Why is it that you can only see things in hindsight??

    I hope this helps!

  10. #10
    Join Date
    May 2013
    Posts
    8
    Many demo's can last for 30 or so days, some more some less

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