When Do I Leave Demo Trading For A Live account

[Fardage]

Trade only when you are comfortable. Otherwise, it will not be helpful to trade on a live account without preparation.

 

[Liquescent]

I think this is a very important question to ask because not many traders are able to determine for how long they must demo trade. Some spend too much time on demo trading while some are too eager to start trading in the live market. In both the cases, traders may not take full advantage of what demo trading is for. They must demo trade only for a while until they get an idea of what they will probably see in the forex market.

 

[Lickspittle]

You’re the one who could answer this. Do you feel ready to move live? How are you doing in a demo account? Answer these questions. Demo accounts are for practice. Ensure that you have built a profitable trading system and are acquainted with the trading environment before making a call to move to a live account.

 

[Satanology]

Don't leave demo trading until you are confident. There's no need to be pressured into making a decision if you're not sure what you're doing. Demo trading is a great way to learn more about the Forex market, so make sure you are comfortable with it before you go!

 

[eldavis]

For me, i dont think there is actually a specific time needed for a trader to trade with a demo account, it mostly depends on the performance of the trader. I have seen cases where some persons send a month with a demo account, while there are cases some use up to two or three months self. It all depends on your understanding of the concept forex trading. I would advice even after getting enough knowledge of the forex market, still make use of your demo account. Demo accounts for trading are not used for learning alone, they are also used by traders to create their personal trading strategies as well, before giving it a try at their live accounts.

 

[Ludicrism]

Here I tell you when you should leave your demo ; Here are some factors that help you decide when is the right time:

1) You Have A Better Understanding Of The Markets: When you trade on a live account, your actions are actually being executed by real traders in the market. This gives you an unparalleled understanding of how things work and allows you to make better decisions faster than if you were only using data from your demo account.

2) You Are Ready To Take On Risk: Before you make the decision to move onto a live account, it is important to be comfortable with the risk involved. Trading on a live account involves taking on more risk than using a demo account, so it is important to be sure you are ready for this.
When you are a completely skilled, confident and have started making consistent profits over a month then it is the right time to leave your demo.

 

[BinarySumo]

When you think you are now ready to take a risk! Demo trading can be boring at one point. But there is also no point in trading if you have polished trading skills and a workable trading system. Do live trading only when you have a tested trading system in your hands.

 

[Finger Geek]

It has been rightly said by the starter of this thread that we need to be mentally ready before we can start trading with live account, so that is why we need to start with a demo account. Yes I agree with the option of using a demo account to learn all we have learnt on forex trading, this will help us to know if we are truly ready or not. And also we might think we are ready because we are making some profits with the demo account but I can tell you that you might not be read.

That is why I do say to people that after they have tried the demo for some time and have mastered how to trade, the next thing they will need to do is to move to a real account and deposit small amount of money like $10. This is to practice on your emotion because using demo account, it can not be done.

 

[YellowWitty]

I traded on a demo account for 4 months before trading live. You could take more or less time. It depends on the learning graph of the trader. But don’t rush with this process. Take this time to build skills.

 

[Serment]

If you feel that you are quite ready to trade on a live account and can afford to take risks, you can trade on a live account with a tiny capital, provided that you have practised enough on a demo account.
If you feel that there is something more to do, do not consider trading on a live account until you feel confident.

 

[FXOchartist]

All brokers usually provided demo account for their clients, FXOpen broker itself also provided ECN demo account and we can possible to using demo account to backtest trading robot or trading strategy without any risk.

In addition using demo account to learn how to use trading platform, we also can trying to explore trading instrument that available on the platform and looking the best instrument to traded. Usually traders like scalping as short term trading plan, here choosing low spread trading pair is matter because traders open and lose multiple orders daily basis. Luckily FXOpen provides low spread even could be zero spread in many instrument trading pairs like EURUSD, USDJPY, AUDUSD, USDCHF and more.

 

[GorillaOcean]

Actually, demo trading is only used to hone a trader's knowledge and expertise. So, once you feel like an expert trader and are confident in your knowledge and abilities, you can progress to live trading.

 

[AtomicDating]

The best practice period is thought to be close to six months of demo trading. Whether it is sufficient or not depends on the trader; if the trader was serious throughout these six months and gave it his all to thoroughly understand each topic, then it is unquestionably sufficient. But no matter how long someone spends on a demo account, if they don't take it seriously and treat it like a real account, they won't be able to learn anything.

 

[Gastrology]

This is a question which comes to every trader’s mind.
Some say when you are profitable for 3 consecutive months, others say 6. For me, I would recommend moving to a live account when you have a clear and concise trading plan that you follow religiously.
A trading plan should include your entry and exit criteria, as well as your risk management rules. Once you have these set in stone and are profitable in your demo account, it's time to take the leap!