Forex How long should demo trading last?

[Kingstone]

You have your strategy. You know the kind of lot size or leverage your want to use. But You do not have your funds ready for a real forex account. Then to practice what you had learned and not to forget the basis, you resort to demo trading.

How bad can demo trading be and how long should it last?

There is no minimum and maximum duration of how long you should practice on a demo account. A demo account gives you the freedom to execute different strategies without any fear. It also gives you the ability to use a high lot size to make yourself smile when your trades are reading high positives. You will begin to wonder if you have mastered your strategy and he is ready to take on a real account. But is that true?

A demo account is just different from a real account. If you have worked yourself up with a demo account, you need to teat the skills in a real account. This is where your emotions and strengths will be put to the test. You will not want to risk using a high lot size. This can get uglier, especially if you trade demo accounts for long.
You can lose that confidence in executing trades that are real as the emotions are new. Kill them off with a real account and see how your demo strategies will work out.

 

[Victorial]

I understand your angle. As they used to say, too much of everything is bad and it should work in demo trading also. Still, there is nothing you can do about that than to keep trying to get better with the demo trading if you do not want to lose your funds. Forex trading is just too risky as it does not give room for errors. Any serious or big mistake can get your account blown. I am currently trading a demo account until I get enough capital to trade. I hope my emotions will not hey the better of me when I have the funds

 

[Willans]

Yeah demo keep trying okay that will keep the demo to develop okay

 

[Setho]

I believe that you have the potential to learn a lot of things from demo trading and also practiced things that you have learnt which is the most important thing. I believe that somebody should be able to trade demo account solely for one to two months after they have practiced rigorously and intensively before trying to use their own personal money. Even after using demo account it is not advisable to jump into big funds but then try to deposit something small like $10 or $20 and then see if you can be able to flip it within a target time.

 

[Sotherefore]

Trading a demo account for the main purpose of learning to understand everything to me is not advisable, if you are trading demo account when you do not have an understanding of the needed skills that is required to trade a volatile market perfectly you will still not be able to understand everything .

Getting a training with a demo account does not give you a full assurance that you will succeed in live trading without the needed knowledge and understanding.

The reason why demo account was created was that a person have to learn and understand the needed skill which to me I believe is the technical and fundamental analysis first , from there if they have a good understanding of technical and fundamental analysis they can use the acquired skill to try it on demo account to check out the effectiveness of the skills they have learnt.

If you are able to succeed and make reasonable amount of profit during this period of testing then they can go ahead and apply the skill in life trading.

Trading demo account when you do not have a complete understanding of the needed skill to trade the market won't really give a desirable result even after spending a reasonable amount of time Time trying.

 

[eldavis]

Personally I feel there is no limit as to how long you make use of your demo account, when it comes to forex trading, the learning process never ends, you could be an expert and still loose a trade. A coach once said trade less and study more, which means there is always something to learn from the forex market. Even while trading a live account, it would be wise to still make use of your demo account once in awhile.

 

[Jasz]

I would say there is no right or wrong answer to the question of when you should leave demo trading for a live account.
However, there are some things you should take into consideration before taking the leap:

• How comfortable you feel with your trading strategy
• How confident you are in your skills as a trader
• Your risk tolerance level
• Your financial situation and goals

Finally, consider if you have completed your research on how to trade currencies successfully and whether you understand the risk involved and have developed a trading plan for yourself. All of these issues and more should be considered before you conclude it is really time to move from demo trading to live trading.

 

[Ithedicious]

A demo account was made be use to test your trading skill and most of those things will actually depend on each and every individual because not everyone that can really trade profitably even he or she have a better understanding of how to use a demo account , because both of them are different thing entirely, but normally people that are making profit with a demo account to be able to trade profitably with a live account.


If you do not have any understanding or professional understanding of trading , you will not likely be able to make anything from trading except you are learning to develop your own strategy that will generate you some profit but if you are just learning without really understanding what you are learning, to me I consider that to be a waste of time because you may not likely be able to get the desired result.


As I understand demo account , it was specially designed for all traders to be used to test their trading strategy after they have been exposed to technical and fundamental analysis and if your strategy is really good, you can then trade a live account and I believe that's what it should be used for.

 

[Rookery]

Why do we demo trade? The simple answer is to develop technical skills and build trading strategies. So as long as you feel the need for demo trading, utilise it to become a better trader.

 

[Suba]

I think the demo trading account is just a trading practice tool to apply the strategies and techniques we have learned. Even though many traders go directly to real accounts without trying a demo trading account first. The downside to the demo account is that it doesn't involve emotion and the available strategies are too easy, very different from the real account. In my opinion, if you have mastered strategies and analytical techniques, you may also have experience trading in stocks or crypto. At least 3 times you use a demo account is enough to try a real account. Using a demo account for too long to trade both forex and crypto is not good for our mentality, because we will feel that we have been successful and successful with a demo account, so when we enter a real account we will be surprised and quickly despair.

 

[Lens1000]

Forex is an investment that needs lots of knowledge to execute. It obviously one of those online investments the need lots of know- how to succeed. If you aren't ready to learn , then forex isn't the trade that you will want to try. This is because the willingness to learn is one of the onions of forex trading. So , the zeal to Learn isn't in you, don't do forex because it will be very detrimental if you put your money and you aren't ready to learn . Learning becomes very necessary because you will need to fabricate your one trading strategy. This type of strategy would suit your trading style and as a result, it will bring optimum performance. Forex actually comes with tools that will make you learn very fast and the tool is called the GAME or the DEMO trading. You will have access to the real life happenings around the forex and you will be able to make real decisions on the next market trend but you will be trading with the demo cash. You could continue to demo trade for long time until you are able to master the forex market very well .

 

[HeavLeighGill]

I agree that the amount of time one should spend on demo is subjective. Personally, I gave myself the requirements to bring in consistent profits over a period of time and to test any strategy I want to use in demo extensively before going live.

 

[Limivorous]

There is no limit to the amount of time you can spend practising on a demo account. Although, no matter how much time you spend on a demo account, once you start trading on a live account with real money, that is when you understand the risk factors that come into play.