How long one should use demo?

[Louisfx]

Perfect answer. No one knows how long will they be trading, so keep trading until you feel like you are ready to go live.

Yes exactly!

 

[Chionao]

It's recommended by experienced traders not to use demo for so long. You can sometimes return to demo trading in case you understand that something goes wrong or maybe something is wrong with your strategy and you require to rebuild it.
I believe the optimal amount of time which you can devote to demo trading is about couple of weeks. In this case you will be able to train and practice a bit on demo and then relocate to real account. Nevertheless, if you will prohibit this rule and you will stay on demo for more than couple of months it may easily cause you the sens of fear of trading on a real account, becuase you will get used to trading on them oney which were given to you by the broker.

 

[jaspermillard]

There is no fixed time that is specified anywhere to determine ample amount of experience in trading forex. You can use a demo account until you start feeling confident to go live with your hard earned money and feel informed enough to understand the technical and fundamental analytics of the forex market.

 

[Underwit]

As long as you want! Trading on a demo account is always beneficial for traders to enhance their skills and backtest strategies. But the truth to be told, neither it makes you money nor makes you an experienced trader. Thus, you should begin live trading once you have acquired practical skills. That could happen at any time. 6 months or a year. That’s up to you to decide when to take the risk, depending on your skill-set. However, it is suggested to all traders to stick with demo trading for at least six months.

 

[FXOpen Trader]

As long as you want! Trading on a demo account is always beneficial for traders to enhance their skills and backtest strategies. But the truth to be told, neither it makes you money nor makes you an experienced trader. Thus, you should begin live trading once you have acquired practical skills. That could happen at any time. 6 months or a year. That’s up to you to decide when to take the risk, depending on your skill-set. However, it is suggested to all traders to stick with demo trading for at least six months.

When we are making use of the demo trading account we can make more profits easily.

 

[heispark]

@Underwit True! A demo is the basis of learning to trade, after which traders should trade with small deposit amounts rather than directly jumping into a standard account. This will allow the trader to develop a good trading psychology.

 

[Gito Dinev]

There is no time limit for a trader to stay in demo trading. Traders should keep trading in demo account as long as he cannot acquire good trading knowledge. But traders become insane to jump onto trading directly without learning about trading. This is the issue that leads a trader towards failure.

 

[Flabbergast]

There is no perfect answer to this. You can never be sure in how much time you will be ready to take risks in the live market. So, take as much time as you feel is necessary but don’t rush.

 

[Perforate]

As long as you think you need to practice and gain some more confidence. Keeping in mind that a demo account deals in virtual money and will not prepare you for the risk levels that appear during dealing with a live account. If you’re just starting out, six months seems ideal. Then you should switch to a live account to test your skills.

 

[zoe]

There is no such specific time. The purpose of demo is to be familiar with the trading mechanism. Another purpose of demo is to test your strategy. Stay on demo as long as you find a proven method. Define your entry, exit, risk, reward and risk management policy on demo. Once you are convinced you can go for live trading.

As long as necessary, till you feel ready at least for live trade.

 

[David Marco]

Traders should stick to demo account even after earning much knowledge on trading. It’s because if a trader doesn’t practice, he will forget all the techniques he innovated. So, sticking to demo account helps traders retain their trading experience for a longer time which is badly needed indeed.

 

[Bahiya Shinam]

In reality, Forex isn’t any simple way of money earning! In addition, there is no way to earn regular money in Forex by using any signal service! But, default trading tools are useful; although you can’t rely on only the trading tools! In my initial stage of trading I used the demo account for 12 months!

 

[traderface]

On a demo account, there is no time limit for trading. That is up to you. As long as you become familiar with the platform and the nature of the market, you should trade on demo. Do not jump directly to a live account. Ideally, you should practice a lot on a demo account before switching to a live account until you are confident in your trading ability.

 

[zoe]

Yes, a good trading system should be used. But a trader should also know how to use it and be profitable. So practising on a demo is a must and time which is needed to spend on a demo account depends on the learning capabilities of the trader.

This is where many have been missing the point, even as an experience trader you can always come back to test your strategies on demo account to master it before going live.

 

[Gito Dinev]

Traders should stick to demo trading at least one year because it takes time for a newbie trader to understand Forex very well and this knowledge doesn’t grow in a day. Ignoring demo account can never be a good option for traders because it lowers their skill level.

 

[Xylophone]

It depends on how fast you learn everything about the market. Once you’ve mastered all the skills in trading and you’re confident enough, you are ready to trade in your live account.

 

[Hughie Lane]

It depends on your trading style and risk appetite. But usually one can use about a couple of weeks to a month or two depending on how often you trade. Just get familiar with the system, the types of trades, the signal providers, everything. Then, when you have the confidence, begin with live risking.

 

[Nayek Pichai]

There is specific limit how long a trader should use demo account. They should use it more and more until they can develop a good trading knowledge. Even after being experienced, traders should continue trading in demo account.

 

[Nayek Pichai]

There is no specific time period to sticking to demo account. Traders should take demo trading as a life-long process because demo trading is needed as long as a trader stays in Forex trading career.

 

[Xenophilia]

Until one feels confident enough to quit it. Until you can see that your strategies are working, that what you’re doing won’t potentially backfire and cause losses. Once you’re sure of all these things, once you’re sure that nothing will go wrong, you can quit a demo.