I completely agree with you. One can start demo trading whenever he feels like. Demo accounts are the best way to learn trading as they do not involve real money.
1 Like
i would also suggest moving to a real trading account when you feel confident. Having some form of money investment even small amount will teach you about proper money management and control your emotion during the trade (which is very important cause trading anxiety can lead to big losses).
1 Like
True, but the point I was making is this; lean first before you start or do it simultaneously. I mean what knowledge will you demo trade with?
Demo is a form of live trading, its cool to learn the mechanics of placing trades. Other than that its just a slow way to backtest. I would do 90 to 95% backtesting and 5 to 10% demo or live trading, just to spark more ideas and highlight system nuances. Backtesting is the skill you must master, its required to be able to trade live in the future. Just because its required doesnt mean people do it properly, if at all.
The moment you learn the basics you should start trading on demo and then practise as you trade. Theory alone is not enough to learn how to trade, nor is trading without knowing the theory.
No time frame really, so long you have been learning, it’s good you put that knowledge into practice. And demo trade is the best way to do that, I remember in my case I took full advantage of the unlimited demo account of forexchief from day one, that really proved helpful. And it is also very wise to occasionally go back to demo to test out your strategies before applying them to live trades.