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How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trading?

Discussion in 'Forex Beginner Q&A' started by FoReX^ExPeRt, Apr 25, 2010.

  1. FoReX^ExPeRt

    FoReX^ExPeRt New Member

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    Hey everyone!

    Quick question here, how long did you trade FX on a demo account before switching to real live trading??

    & for everyone currently trading on a demo account, how long do you plan to utilize one before switching to real live trading??

    Thanks in advance for all replies!

    Forex^Expert
     
  2. daniellefr

    daniellefr New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I was trading with demo accounts for almost 5 months. I didn't know much about trading when I started, so for a total beginner demo practicing is a must.
     
  3. irwin_drew

    irwin_drew New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    it depends on the level of your initial knowledge. if you are a complete novice, then it might take quite a time before you get used to the ways of trading. As soon as you feel more confident, you can start real trading using trading robots like Rita Lasker's robot or any you can find. Some people, however, prefer to trade by themselves.
     
  4. GoLearnForex

    GoLearnForex New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I think, it completely depends on the traders style and confidence. Some people practice just for a month and some take years to understand the market. I think, we cannot generalise it. The things traders should consider while ending the demo account is their confidence, returns and understanding of market
     
  5. KajolThappar

    KajolThappar New Member

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    Occupation:
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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    Yes, it's possible, but not with a couple of hundred dollars of starting capital. Think about it, for many professional traders, having a 50% profit on the year is considered a good year. If you start of with $200, and make 50% profit, you would have $100 profit. Is $100 enough for you to live off of? Not unless you live in a cave.

    However, if you start off with $100,000 capital, and make 50% profit for the year, then you would end up with $50,000. Is that enough to live off of? Probably yes.

    Yes, I know $100,000 is a lot of money. But you can start up with $5,000 and work your way up. You are still young. I would get a job and start saving, and on the side, continue to trade and research using a micro account. (Notice how I didn't say demo account because demo accounts success do not translate to real account success). Anyways, once you know you can be profitable with real money, then you wouldn't hesitate as much to put in $5000, or $10,000 or whatever you have saved up in your account.

    Lots of people make great living as day traders. But it takes time and patience to get there. Hope this helps.
     
  6. Jacq Stone

    Jacq Stone New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    It's not how long but it's how well you learned trading and how well you are prepared to enter the live account. If you are now well trained and practiced and you possess the knowledge, experience, discipline, strategies and confident that you can do it in the real market, then it's time for you to trade in the the real account.


    Please feel free to come and visit our FB page for more latest news and updates that will help you guys to improve your decision making.

    http. www. facebook. com/pages/Ikofx/213186568697555



    Currency Trading
     
  7. learn2share

    learn2share New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    For 3-4 months, Demo account is very useful for any trader would like to get started with Forex Trading. It's like first step of a long way.
     
  8. lobax

    lobax New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    A year and a half. Perhaps more than that. Coz I want to make sure that I can minimize the lost before entering into a real trading.
     
  9. avamorcle

    avamorcle New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    Beginners should do trading with demo account for at least 6 months.
     
  10. UMOFX IB

    UMOFX IB New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I did only 2 months demo practice and started real trading . It was my mistake to do real trading at early stage of learning. I know my fault when I loose in market. I heard that 6 months or more demo trading is necessary to know forex trading properly. we have to do practice until we are not experienced and skilled to go towards real trading
     
  11. lobax

    lobax New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    The more you practice, the more skills you'll get. The more money you are able to earn. Try to practice more by applying the demo as a real account. Then you will be ready to face the real trading soon.
     
  12. learn2share

    learn2share New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I was in demo account for 3-4 months before making a micro-account in Hotforex. I still losed and burned that account, after that I gaining some experience and I could minimum my lost.
     
  13. jologs

    jologs New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    there is no avoiding loses, some say a good trader always blows an account at first LOL but who knows, the important thing is to take it slow and never give up :)
     
  14. learn2share

    learn2share New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    There are some trader say they would never lose in demo account, but actually there are no trader dare to say they have never burned any accounts in live trading. :big: And me too, I have burned 2 micro-account in Hotforex.
     
  15. mak123

    mak123 New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    Demo account trading is depend on your knowledge experience, if you feel that now you are done withh all learning in forex then stop demo account trading and start with real account. Demo account may be 3 or 4 month some some trader may take more long time to understand forex trading.
    Forex Trading
     
  16. Nickey_M

    Nickey_M New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I traded near 1 year on demo account. And it was enough for me to understand the forex market. Sure somebody can think that it's so long, but I think that in such business as forex you shouldn't hurry up.
     
  17. rrayne20009

    rrayne20009 New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I am newbie and for 7 months now,I still use a demo account to try different trading ideas.This serves as my practice account.
     
  18. lee.belisar

    lee.belisar New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I've been doing a demo account with gdmfx for more than two weeks now. So far, I like it. It give me more idea about the Forex trading process. I do not know when to begin trading live. But definitely it would be very soon.
     
  19. orni308

    orni308 New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    i traded for around three months, but you should keep on trading in demo accounts till you feel like you are ready to enter market..........
     
  20. vic84

    vic84 New Member

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    Re: How Long Did You Trade Forex On A Demo Account Before Switching To Real Live Trad

    I traded for couple of months Before entering the market, it depends on the individual trade confidence.
     
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