I am now almost finished with the babypips school and have started my demo account on Metatrader. My main question is: when should I start live trading? The past week, I’ve traded a fair amount on the demo and my account balance now stands at $6,474.29 starting from $5,000. My trading strategy is a mix of mini-scalps and positions that are more ambitious. Also, it’s important to mention that I don’t set up stop-losses and only set take-profits. The most I’ve made on a trade is $245.40 and my lot size has consistently stayed at 350 units of currency.
Whenever you’re realistically confident, with evidence for it, that you can avoid the five mistakes that make aspiring traders fail.
… and when you’ve changed that, too: it takes only one badly timed power-cut or internet interruption to destroy your account, if you don’t. [I][U]It costs nothing to enter at least a “disaster stop” automatically with every trade you make[/U][/I]. 
As soon as you have the basics down.
Some folks will think that’s crazy, but let me explain.
There are things you cannot know about your trading until you actually do it with real money at risk. For that reason, you should dive into live trading as early as is practical. Just do it with a very small capital stake so you inevitable stupid mistakes don’t cost too much. Once you learn the necessary early lessons, you can go back to demo trading while you develop you trading strategy into something workable.
Trading without stop loss, I don’t like it in real account, usually emotion pressure in real account will different compared in demo, might in demo we can free without stop loss but also I think we need amount capital same with capital in demo account to running strategy
In my opinion one should trade on a demo account at least between three to six months. Yes, you’ll likely get used to the trading software much earlier than that, but until you’ve at least seen how the market reacts under different trading conditions, until one has worked up some trading routine and plan for themselves it’s not a good idea to move onto a live account.
I think first you need to practice Demo Trading for around 6 to 8 months in order to learn Forex Trading Properly and efficiently.
What I would suggest is spend roughly around 4-7 months on the demo account and during this time, study various types of material on forex. This will help you to speculate the market and make the right decisions.
Beginners should prefer to make a small start and a great learning. Small start means first we should trade with small amounts like 10 $ or 50 $. There is no restriction of amount to start forex trading. there is no restriction of amount to start forex trading.
Yes it is nice advice to start with small amount. After good learning and practice trader can start live trading win low investment he can choose micro accounts that involve less risk in trading . They are best account to have good live trading practice.
Stop loss is helpful tool if you had training to use it . I did much practice on demo with SL and TP , I think every trader should do demo trading for several months to make himself skilled in trading . After having risk management ability of trading they can start live trading.
It can be different for different people. Some understand quickly about forex trading and they can start real account trading rather quickly than others. Some need more time in learning proper forex and thus require more demo trading before starting live one.
I see you’ve earned much in demo account. I wonder how long have u been on trading demo?
almost newbies use that stratergy, but I think you should use stop loss along with take profit. it helps you when the market is fluctuate.
As you are a new Forex trader therefore, it’s very possible for you to break your trading rules. So I wanna suggest you please respect your own trading strategy and never open any trade if there is no good entry point. In addition, it would be handy for you, if you go with small trading lot size, listen you capital may help you to trade for the next time. By the way, best of luck!
Whenever we are doing our trades we usually have to follow many of the trading rules. How much we will be able to will only depend on our control in our trading and the amount of patience that we have with us 
It depends on your mind and financial position. Beginners should prefer to make a small start and a great learning.
Find suitable strategy => master it on demo (3 months profit minimum)=> start small real account => Exercise your mental stability. Market is there to crush you and it has 96% success rate. Good Luck!
I think you need to trade with demo account for around 4 to 5 months, then if you are confident enough to start live trading, then you could start live trading.
In this scenario, I would like to suggest you that you should start your real trading and you can earn the reasonable amount, you should perform the positive trading and should do careful trading for better results.
Yeah…! You should do demo trading for quite a while and then you could start earning through live trading.
Mind you - even if you do start live trading, it’s a good idea to open only a small account and trade with small lots to get used to trading with real money first before investing more.