When Do I Leave Demo Trading For A Live account

[Sombole]

I would say the learning curve is different for everyone and the transition from demo account to live account should be done smoothly. You should be well-prepared with a proper plan for live trading. Risk management is crucial while trading with real money. It is better to continue demo practice until you feel confident about your skills as a trader.

 

[Jenet]

When you're confident in your trading strategy and are making consistent profits for over a month, then it's time to open a real account and start trading. A real account will allow you to trade with real money, and you can make real profit or loss. It's important to remember that you can lose money in the markets, so don't trade with money you can't afford to lose. Start small and trade with an amount of money you're comfortable with, then gradually increase your position size as you become more confident.

 

[Gastrolatry]

The moment you feel confident in your skills and expertise and start making consistent profits on the demo account. Then definitely you can move to a live account and make money.

 

[Snaffle]

Don’t wait for someone else to give you a green flag. Move to a live trading account when you are confident that you will be able to handle the risks. Judge your performance before you make a decision.

 

[mansuriabubakar7474]

When you are ready to risk your real money, you can leave the demo account and open a live account. Make sure you have a solid trading strategy in place, which should include risk management. Don't rush; instead, take your time learning about the ecosystem before moving on to live trading.

 

[Monadism]

Demo accounts don’t make profitable traders. A trader has to take a plunge in the live market to know the real thing and become a real trader. It might take some time to get accustomed to the market, but once you do, you will know how to get better.

 

[Titulus]

There is no set amount of time. Every forex trader learns at a different pace, and some techniques are harder to understand than others. Consider this: why play live with real money if you know you can't win and make money in demo mode? Trading in demo mode is advised until you are consistently profitable.

 

[Walkabout]

You will know that automatically when you become capable of live trading. While demo trading, don’t keep thinking about moving to your live account. This won’t let you get all the information you would need for trading.

 

[Spittle]

When you have mastered all of the trading skills and market behaviour, you can progress to a live account. You can also go for it once you start making consistent profits in demo trading and have the confidence to do so in a live account.

 

[Slumberous]

Though there is no fixed duration, as it depends on the trader to trade & their knowledge, it is recommended that trades spend at least 6 months over there. But imo, you should move to a live account once you get familiar with the trading system and have a profitable strategy that gives consistent returns.

 

[Chockcroal]

The purpose of a demo account is to get acquitted with the trading system and build trading strategies. So, when you are done doing that, move to a live account. Test a few strategies and test them out on a demo account. Select the one that gives you good results and implement that in your live account.

 

[Hylotomous]

You will find that out yourself when you are ready for the live market challenges. Since you are feeling the need to ask other traders, you better stick to demo trading for a while. Practice until you are sure.

 

[Polyglot]

Mostly, it is at least 3 to 4 months of practice that makes one learn about the market. But this figure varies for everyone as not everyone will learn in this time frame. So, consider learning for a sufficient amount of time on a demo account. The time you spend on a demo account to practice is proportional to the success you will achieve (it includes other factors too, but the demo account, like other factors, determines the success or failure of a trader).

 

[Kamala Hooper]

Demo trading, in my opinion, should only be used until you start gaining consistent profits without actually risking any money. Use it to learn how to manage open trades, size positions, execute conditionals, and place orders. Demo trading serves no meaningful use once you've mastered that. When money is involved, the mentality is quite different. When real money is at stake, I've witnessed wildly successful demo traders blow up their accounts.

 

[Sociable]

That depends on how quick of a learner you are, everyone has a unique pace. Are you confident enough that you’re ready to trade live? Did you find a strategy that works? Are you ready to face loss? If the answer is no to these questions, you need some more time. Spend at least three to four months on a demo account.

 

[Scrutinize]

It’s not a good decision to demo trade for a certain time as is suggested by some other traders. Instead, you must practice on a demo account for as long as you don’t get a hold of the market and can actually trade in the live market while trying to keep your money safe.

 

[Laminary]

Imo, it is important that traders practise as much as possible. Traders should not directly dive into the live forex market.

 

[Wavemeter]

When you feel ready! And how do I know that you are ready? To know that, check how you have been performing on a demo account. How good is your trading system? Maintain a trading journal to alter your strategy. It is believed that if you get consistent results for at least 4-6 months on a demo account, you are ready to trade live.

 

[uptrendfinancialsignal]

Demo account is created to prepare you mentally and physically for Live trade and it is obvious that you cannot trade the demo account forever. You will still need to go live trading after you must have developed a very good strategy in the demo account and you noticed that your strategy is winning above 50% . If you are able to score above 50%. It shows that you are mentally ready to go live trading but if your strategy isn't working properly, you cannot go live trading because it will make you lose all your fund into forex trading. This why it is very important to ensure that you have a good plan to trade with.

There are lot of lessons you can learn on YouTube. You can also combine the winning strategy of experts to fabricate your own forex strategy, so that you can trade in a proper way. It is very important that you should still stick to the demo account if you are not mentally ready to trade the live account because life account is real and it is unlike the demo account where the money that is in your account is not real and you need to trade with caution.

 

[Zygomatic]

Spend at least six-eight months on the demo account. This will enable you to understand the market and create your own trading approach. You can begin trading in a live account once you have a sound strategy in place.