The answer to this question
is itself a question:
The amount of profit has nothing to do when your skills in trading, trading in a demo account. What really counts is that do you have good grip on your trading skills. You can even make millions of dollar profit in a demo account, that have no value if you don’t have good skills.
you should take demo account as a practice tool and not for profit making. doesn’t matter if you made profit with demo account or not, you must good in techniques of profit making…
I for me, it doesn’t really matter how much profit we made demo trading. But what we should be looking for is consistency in our trades. Do we sense any progress, have we developed any successful plan, I think these are incentive to go real.
yup its all about consistancy and how consistent one can be with demo, if you can maintain a decent consitency in a span of lets say 6 months then you are ready for live.
I think how much profits you make in demo before you go live depends on you.
For me, I must make at least a 100% return before I go live.
As of now, that is not happening.
What do you guys think? 9 screenshots in total but I am only allowed only 5 attachments per post. So, I will post twice.
Main thing is that forex trader should learn successfully how to manage risk and account. If he is able to take proper risk make good amount of profit out of it in demo account he can go for live trading . He should manage less amount as much he will invest in real account.
OMG! I don’t know if it is just me or you agree with this: I tend to find demo accounts are so easy to use in parallel to live accounts. I am still using demo and I have made a profit of 2.5K in less than a month starting with 5K, too good to be true
It is probably the most relevant post for these who are beginners. Would be looking for consistency in some pairs before deciding on moving to live. There are brokers down there that have much lower increments than micro lots. That is good for traders to try in demo or live. Some correlations between metals and exotic pairs with large currencies and pairs will help out beginners to spread the risk. Great to have less than $50 for beginners and be in many positions and levels. That is what helped me to determine best strategy.
Also, good luck.
In demo trading we should focus on quality trading then we can make our fake profit double and I think we should start the real trading until we get the 200% profit in demo trading and also achieve the proper practical learning in order to get the success in the real trading.
In addition, to the profits needed before trading in a live account, a trader must also be fully ready before jumping into a live account. It would be unwise and risky to trade with your hard earned money just because your emotions tells you to go live.
Lots of opinions on process which is great. Problem is you’ll learn 10,000 times more if you go live and trade micro lots so you understand all your processes go out the window when live money hits. If you cant risk a micro account… then why are you trading? This entertainment then?.. then it doesnt matter. If you want to actually learn faster… go live. Many will disagree and I’m ok with that.
Yes, it’s all down to personal preference.
For one I’m an advocate of demo trading until profitable. If done properly you will see no difference from the performance of a live account which exceeds a standard margin of error (you can work this into your results as a ‘risk plug’)
At the end of the day though, the difference between a micro or nano account and that of a demo account would have little to no mentality differences in my own person opinion, but then again that’s down to ones risk appetite. I guess if you’re going to learn with real money you really need an account size that’s just enough to scare you into taking it seriously, but not so large that you cant afford to eat when you go bust!
In my opinion, jumping on a live from does not have anything to do with profitability but consistency of the trades and self-control. You can never have the emotions of trading real money while you are on a demo and, at least in my case, this makes a big difference. Once you are able to control your emotions you can trade on a live account.
I am in agreement with this. Newbies wrongly think their successes in their demo trades determines how successful they would be also in a live account.
And then big losses come and they start thinking that the market is guilty for it…
Dear profit does not matter, your confidence, way of working and consistency matter, therefore it is suggested that we should perform demo trading sincerely and should apply all the strategies in demo account in order to get the success in real trading.