Newbie here! When to switch from demo to real accounts?

[NoShowBrooks]

I feel when you've tested out multiple strategies and you have understood how they would perform in real trading, you can switch to the live account. But don't close the demo account right away, keep it open to test out more strategies.

 

[David79]

Totally agree! Demo accounts are very important to test out the strategies without actually risking your own money. I got to learn a lot from the demo account I created.

So True! Which strategy worked best during your demo trading?

 

[ChelseaR]

So True! Which strategy worked best during your demo trading?

While demo trading, sticking to the supply and demand level worked best for me. I used to combine those with volume analysis and EMA 20/50 for confirmation. It wasn’t perfect but at the initial stages it used to help me understand the price movements without overcomplicating things.

 

[David79]

While demo trading, sticking to the supply and demand level worked best for me. I used to combine those with volume analysis and EMA 20/50 for confirmation. It wasn’t perfect but at the initial stages it used to help me understand the price movements without overcomplicating things.

Good approach- Are you still use the same strategy or you have tweaked it over time?

 

[NoShowBrooks]

Good approach- Are you still use the same strategy or you have tweaked it over time?

The base is the same but yes, I keep adjusting the strategy according to how the market is performing.

 

[David79]

The base is the same but yes, I keep adjusting the strategy according to how the market is performing.

Same! I What is your go to adjustment when market is unpredictable?

 

[NoShowBrooks]

Same! I What is your go to adjustment when market is unpredictable?

I just stick with the support and resistance levels at that time. Seems to work for me. How about you?

 

[David79]

I just stick with the support and resistance levels at that time. Seems to work for me. How about you?

I do the same, but I also keep my eye on patterns. Also, Do you combine them with indicators?

 

[NoShowBrooks]

I do the same, but I also keep my eye on patterns. Also, Do you combine them with indicators?

Yes I do. I often end up combining them with moving averages to confirm the movements.

 

[Kingclay]

The right time to switch from demo to real trading depends on your confidence and consistency. Start small with a real account, maybe 1-2% risk per trade, and scale up as you gain experience.

 

[rmufti68]

The new traders should at least trade a demo account for more than six months before going to trade on live account and while starting a live i guess always start with small amount.

 

[Ara]

The new traders should at least trade a demo account for more than six months before going to trade on live account and while starting a live i guess always start with small amount.

100% agree! Six months on a demo builds skills & confidence.