Great advice, thank you!
Timmy, demo account is good for you to get familiarized with the mechanics of forex trading and the platform you are using. It’s not how much demo profit but the consistency of profits hence whether your trading plan is working or not. But I must warn you no matter how successful you are with demo account, the psychology will be very different with live account. If you are serious in forex trading I suggest you start with a small amount in micro live* account, explore & experiment with various trading plans/strategies until you find those that you’re comfortable with. Remember it’s consistency of profits then the how much will follow. Also remember to use money management to keep you staying longer in the game. Hope my two cents help.
Minority point of view or not, both options are valid - you can either opt to go live right away with a nano or do the demo…in which case, there’s no base line profit that you need to reach before going live. With a demo, just wait until you start netting pips consistently.
I keep telling new traders that if you want to succeed as a trader you need and want to belong to the stark minority and those who follow popular believe also head down the same destiny which is total failure as a trader. 98% will fail so it does not take a genius that you should not do what 98% of new traders do.
I think it should all depend on the way traded while using demo, how well we traded. There is really no fixed price on how much profit we should make in demo.
As a general rule we should consider one basic formula that when you start doubling or tripping your demo account using a certain strategy with good money management, then you can start live.
Talking about turning live from demo account, there is no fix standard rules to tell if one already set to go to live.
But you can follow this guidance:
- If you have already choose the trading system and trading style taught in the school section, then you might want to record, have you follow all the rules you setup? If you find yourselves not 100% follow what you already agree to do then you must evaluate it. In hospital slight error will cause huge problem, you don’t want to be discipline 99% only. If there are 100,000 patients 1% (1,000) will suffer from your indiscipline
- Evaluate what is the accuracy of your system, if it is above 50% then that is good
- Evaluate your risk Versus reward, have you trade with risk more risk than reward? you don’t want to trade 10 right and only with 1 lose all the profit gone.
- Get to know, were you emotional when placing trade?
After list of demo finish, now when going live:
- Make sure you deposit only 5% - 10% of your intended deposit, example you want to deposit $500 then deposit only $25 - $50 in micro or nano account. The purpose is to get used to trading live, believe me trading live will be lot different compared to demo
- If your live trading already profitable for 3 month and stable, you can proceed with more deposits
- Whenever lose more than 30% go back to demo and evaluate if that is because of system or human error
I hope this post can help for everyone
I think you should at least double your account before you decide to go real. And that too with proper trading plan.
I think that the amount of profit in demo account could not be used as the parameters to decide to turn in real or not.
Its false question and statement. I thnk that the best moment is while you are consistent to make profit in demo account.
just my two cents, neglect it if its already stated,
i just think its not the profit that counts on demo, it consistency, if you can be consistent in making a certain number of profit through out a long period of time then maybe its time to try out live 
How did you get on with your live account? i know this post is two yrs old you may not even use this site anymore. be interesting to know still.
i earned about 40-50% in demo account. after that i trade with small fund in lite accout of liteforex after that i got about 30-40% i transfered to Real account with balance 2000$. now i still earning 20-30%
I think you shall least double your account once before you go live. Obviously trading with a plan and risk manegement.
From reading around, people generally say demo is for getting used to/testing broker spreads and execution.
Apparently a 10% - 20% profit is decent…?
i think if you already doubled 3 of your demo account you should going live
i think it depends on the amount you are willing to invest when you will open a real account. Risk management is also very important, but once you triple a demo account balance, that means that obviously you are at the right path. Don’t forget though, that demo is a demo, and real is a real (that is actual $).
The amount of profit in a demo account has nothing to do that proves you are a good trader. Its only the consistency that matters which you are getting from your demo trading.
In my opinion it’s less about the amount of profit and more about how consistent you are with your profits. If you are a consistent with that over a period of time that satisfies you, then it’s probably a good idea to move onto a live account.
Yes will better aboiut making consistent profit than how much made from demo account because sometime trade in demo will free from emotion pressure and trader can trade with high risk taker and might they can making huge profit at short time but if eventually fail hence also will less useful
How much you are able to earn on a demo account has little reflection on what you will be able to earn on a live account, as the conditions you trade under are quite different, so I don’t think that should be the factor that decides when you should move onto a live account. I too would recommend to look for consistent profit, rather than a certain amount.