Clsed for 150 pips about 30 mins ago and my other trade i am just letting it run its now 110 pips up. Honestly AUD USD is so none challenging.
I like what I read of jezzcodes answerit is something I never thought of while trading and that is alongside your main live trading strategy you can also use your demo account to work on new ones without risk thanks jezz sometimes what seems simple and obvious needs to be read for the light to go on
for me u must know who u are…scalper daily swing…then practice everyday and sharpen ur self dont try to change ure ability,but u must apreciate your demo account,if u cant appreciate it,u cant real…note n record everyday your result and dont lie with your result everyday…if it - or +,juz write it in your daily target… till consistent every month ± is profit go with real,but for me atlis 1 year …not below than that
This is not working in this way. I would like to suggest you that you need to practice demo trading for at least three month consistently. Just invest $200 or $300 virtual money and trade with it.
It is obvious that you would make mistake but you would learn Forex trading through mistakes.
Right on… Its no so much experience as in time, but what you take from the experience itself.
You are ready when you’re consistently making profit on practice account.
I skipped demo accounts, chose my broker, opened a micro-account and made a $50 deposit, received my bonus and started to learn how to trade for real. All this demo trading for me is a waste of time and if you can’t afford to lose $50 then you should not trade at all. I only traded 0.01 lots and worked on my strategy.
i read if you double your demo account you can go on to real money account. i think it good advice because if i had start with real money… $50000 it would be worth about $8000… scary
Not true, you can double you demo account which is 100% worthless. You have not learned anything valuable. The two most important aspects of successful trading are not taught in demo accounts so you will get a false sense of accomplishment.
then how do i know to go to real money???
Demo accounts areonly good for you tolearn the mechanics of trading and tuneing your strats. Live trading is completly different then Demo. Market reacts to your postions on live trading andismore unforgiving. Also you may make money on a signel on Demo and on live that exact same signel may mess you up. Example on a demoyoujump on a rally and get filled at a nice price, in live that price you get filled is the highest price imaginable, you can be down massively. Only live will tell you where to enter and where not to. the amount of leverage impacts slippage massively to.
I respond even though I see you have been banned as others may benefit from the response. You learn what you think you can from theory and once you feel that you are ready to place a trade you will open a micro-account with the broker of your choice, fund your account with no more than $100 and only trade 0.01 lots. Make your mistakes, learn from them.
Sorry guys if you’ve already answered the question, just not inclined to pre-read 50 posts is all. Its not about how much you should make before going live but all about your [B]consistancy[/B]. Even the very best trader on the planet will loose trades from time to time. To the OP, are you in profit after lets say, the last 100 trades? Did you rigidly execute your trading plan/ system? Did you exercise prudent money management with all of the trades without exception? If yes to the above… your ready.
All those things RC mentioned are vital, but if you have achieved them in a demo account you may think you are ready, but you are not ready at all. They were accomplished in a demo account which means they are useless. Just my opinion.
i like your suggestion.
after one month of demo i start the live account.
in the demo i was a superstar but int the live account i really lost 50% of my money in the second trade!!
the demo and the live are two different worlds.
good luck my friend
You have faced the same predicament all your pears have who thought they would learn how to trade in a demo account.
I agree with that statement. I think most failed traders have poured a weak foundation in demo accounts and when they went live the house came tumbling down at the first tremble.
IMHO the OP is trying to compare Apples with Oranges. Trading live is a different ball game than demo trading.
Trading in the Demo accounts is not always the same as trading with the live accounts. In the Demo accounts the funds are virtual and hence the risks and the trading methods used are not in sync with the real money 