USD/CAD Demo account practice

Beginner Questions Candlesticks, Chart Patterns, and Price Action
1

Hi everyone,

My question is for experienced traders.

I demo traded USD/MXN from April 2019 for 14 months.
I started live trading in Dec last year.
With a 1k margin,I made a decent profit 20% in 2 months.
I made a mistake and started trading USD/CAD,after 2 days of demo trading it.I made a $500 profit in 9 days.
Because of poor risk management,I lost that profit in 2 days.So,all in all,break even on USD/CAD.
I freaked out and stopped live trading.
My winning trades are 90% for USD/CAD and sometimes higher for USD/MXN(I just wanna stick to USD/CAD for future live trading)
My question is how long on average,should I demo trade USD/CAD,to mainly practice risk management and be better disciplined?
I had 3-5 trades a day,and I prefer to trade up to 3 trades a day.
I like price action.I use 50 EMA,MACD,RSI and I check the ATR,day’s high and low, support&resistance and I check 1d,4hr,1 hr,15 min and enter the trade on a 1 min time frame.
I do believe that if I get the hang of risk management,I will see better days.
Thank you for your time.

2

I think you keep demo trading until you’re not making the “poor risk management” mistakes you made above. What exactly did you do wrong?

Everybody throws around anything from 1 month to several years of demo trading, but I think it depends on the individually. Obviously, if you’re trading more frequently during the day and week, you’ll generate a trading record with a larger sample size than say somebody trading weekly. But even that, the amount of trades you making, shouldn’t be the reason to go live. It’s about your sound risk management practices. And that goes back to identifying what you did wrong above. Was it psychological or more related to not setting a stop or take profit level, too much risk, too much leverage?