how long to trade in demo before going live?
- Thread starter beginnertrader2019
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There is no fixed period as such. I would say do not try live trading till the time you get a strategy in demo account, only then you will be confident enough to tackle the pressure of trading with real money. There is no point of shifting from demo to live trading with losses in your hand.
hi guys, Im a newbie to the world of trading
How long do you recommend I stay in demo before going live?
Would love to hear peoples thoughts on this thanks
As long as it takes.
If you have the ability to burn through multiple demo account - do it.
Work on finding a strategy that works for you while on a demo.
Work on controlling your emotions while on a demo.
Work on managing risk while on demo.
Study while on demo.
The more things you do while on a demo - the less risk to your actual money you take on when you decide to finally "go live".
I've been doing this for a couple of years now (granted, only part-time) and just about 6 months ago decided to go "live" with my own money, so over a year, nearly 18 months of demo accounts.
Agree with you to a certain extent. But emotions hardly play any role in demo. When you risk your real funds into trading, that is when emotions come into play.
Yes, but why start practicing on controlling your emotions only when you go "live" start doing that BEFORE things become real so that by the time you make the move to real money you already have a sense of how to react...
this is true, but demo is essential for learning the very basics of how to place trades and learning how to use mt4, also for testing out strategies but i get that the emotions are very different when its real money.
I never found the emotions to different as winning is winning and losing is losing. It was an easy transition for me and I didn’t care about the money I started with
this would be the ideal but sometimes can be easier said than done, i struggle a lot with the emotions side of tradingThen practice to equalize the emotions.
that is probably the best way, just completely detach yourself from the money you put in the account, but then at the same time would that not make you make careless decisions? i guess you've got to hold on to wanting to win trades but at the same time not care about money, wow you see emotions they are so hard!
Sometimes I think demo is a bit pointless to be honest. You've got 2 sides to trading, you've got learning to be a good trader & the physiology side/risk management. I always think you should start with a small account and stick to 0.01 lots, learning to stick to that will help you learn MM.
until you can make consistent profitshi guys, Im a newbie to the world of trading
How long do you recommend I stay in demo before going live?
Would love to hear peoples thoughts on this thanks
Actually, this is a matter of individual situation. It happens that a person has a great experience in trading in terms of time, but it turns out that he does not have basic knowledge. He just spends time. On the other hand, I have heard the stories of newbies, who immediately began to achieve small, but constant results. They earn well and feel confident. It seems to me that everyone has to listen to himself or herself in a way and understand how ready he or she is. You can combine trading with real money and demo, if you haven't figured out some issues yet, or you need to work out a new strategy or test a new indicator for you. From what I have heard from experienced traders, the demo should not become your main occupation. In order to really make money, it is worth starting with real money. You can try with small amounts and understand your potential. It would be useful to keep your statistics. After that, you should build a development plan for the future, at least for a couple of months. And then you will understand what to do next.
Damn right. Based on all your posts i`m really curious how long do you practicing trading.
