How long to trade demo?

Beginner Questions
1

As a beginner, I am now trading on demo account and have a plan to start live trading with small account. Should I shift?

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2

If you have developed a profitable strategy and strict process, and a Zen mindset, and are confident and ready to trade live, blowing a small account will make you understand that that FX trading is simple but not easy.

Best of luck.

BTW here is a link. tradertom.com

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3

Are you now consistently profitable in demo trading?

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4

If your trading system is consistently making a profit on a demo account then there is no reason you shouldn’t move over to a live account. However, you will need a similar balance on your live account that what you had on you demo account.

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5

when your demo ac constantly profit ,you know its the time ,but normally you will switch back and forth for few time until you made it.

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6

Hellooo! :blush: Definitely agree with everyone here. :slight_smile: I hope you don’t give in to the pressure of opening a live account, before you find a strategy that works for you. :open_mouth: Hmmm. Would you say you’re happy with the performance of your demo account? :thinking:

7

You can start with a minimum account that won’t hurt you provided it gets crashed.

8

I would say just stick to demo trading as long as you stay with the market because demo trading is essential for many reasons.

9

Make sure you’re profitable on your demo account and prepared for the emotional side of live trading.

10

I think it’s different from person to person. But personally, for me, It takes around four-six months. I think it’s an ideal time to practice. Before making the switch, make sure to backtest and forward-test our trading strategy. Also, you can use a demo account to test your strategy.

11

I used to trade with demo account for 6 years before. I didn’t shift until I understand how the market works.

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12

Thanks for the advice because it raises my inspiration to get started!

13

It’s true but it is seen that the market situation isn’t same all the time. So, when I make profit, I start to think, I should shift but when the period of losses come, I lose that courage.

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14

Yes, I also want to shift to live because staying with demo for a long time makes it monotonous.

15

Sometimes profitable and sometimes not! That’s why I am confused.

16

by all means, shift to a small live account using funds you can afford to lose IF (and only if) -

  1. you have collated in writing the details of a minimum of 250 trades, over whatever period, on the same type of markets as the ones you’ll be trading live, without making a net loss, and nothing about them rings any alarm bells, AND …

  2. you have not, during that period, had a PTT drawdown as high as 5% …

but if you haven’t achieved those two things, or if you’re not really clear why those are the two probably outcome-determining things that actually matter, then no: you’re not quite ready to switch to live, yet

two things that DON’T matter, in this context, are -

  1. how much profit you made over the 250+ trades, and …

  2. “how long” you traded demo for …

… and again, if if you’re not really clear why these two things DON’T actually matter, then no: you’re probably not quite ready to switch to live, yet

good luck! :sunglasses:

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17

Well, of course. Because you’re looking for a pattern or a trading strategy in a rigid way, 1+2=3 kind of thing. In this case, then the market is random.

What you need to learn is if I buy or sell any currency, will I get the support from the larger player to propel this idea I have now?

18

Go for it! Just remember, the market doesn’t know you’re no longer playing with Monopoly money. :wink: Good luck!

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19

What was your age when you started trading on demo? Sorry for such a question because it’s somewhat irrelevant but I am asking it out of my curiosity.

20

Starting with a small live trading account after practicing on a demo account can be a reasonable approach for a beginner. It allows you to gain real trading experience while managing risk with a smaller capital. However, it’s important to ensure you have a solid trading strategy, risk management plan, and emotional readiness before transitioning to live trading. Take the time to analyze your demo trading results, assess your readiness, and make an informed decision based on your comfort level and confidence in your trading abilities.