How long one should use demo?

[Prelect]

As soon as you learn how to execute trades without making clerical mistakes like inputting the wrong position size, the wrong stop, the wrong profit target, etc., you should open a live account. You need to feel the sting of losing real money as a deterrent in order to develop your trading mindset.

 

[Bumpkin]

Demo is a great tool for beginners to form and test their trading strategies or trading systems. You should trade in demo mode until you are consistently profitable. There is no exact time limit. Everyone learns at a different rate and certain strategies take longer to grasp than others. In my opinion, if you can execute your trading plans and trading strategies smoothly and flawlessly then you are ready to trade on a live account. But be aware of the risks involved in live trading activities.

 

[Paralipsis]

Demo is a great tool for beginners to form and test their trading strategies or trading systems. You should trade in demo mode until you are consistently profitable. There is no exact time limit. Everyone learns at a different rate and certain strategies take longer to grasp than others. In my opinion, if you can execute your trading plans and trading strategies smoothly and flawlessly then you are ready to trade on a live account. But be aware of the risks involved in live trading activities.

Right! Traders who are finding trading live hard can switch back to demo anytime they feel like there is a need. There is no harm is practising on demo at least one doesn’t lose anything unlike a live account.

 

[Polymania]

Every trader is a unique and different learner. I think a maximum of six to eight months of practice is enough to get an idea of how the market works. But, it depends on the trader, as long as the trader feels comfortable to live trade, they should practice.

 

[Isotaach]

Don’t follow the herd mentality if you want to become a successful forex trader. It doesn’t matter for how long your friends practised on a demo account. What should matter is for how long you want to sharpen your skills on a demo account.

 

[Nugacious]

Demo trading is a good practice of what may happen during live trading. It helps you understand and learn your skills by applying whatever knowledge you picked up. It also gives you a chance to backtest and find the strategy that works. You can practise as long as you wish until you’re confident enough to start live trading.

 

[Crescendo]

Demo accounts are meant to make you familiar with the live trading environment. Once you get an idea of how the market works and how different platforms function, you must leave demo trading and start practising with a small amount on a micro account.

 

[The trader]

Besides demo it is more appropriate to continue a micro account. It works really.

 

[FXOpen Trader]

Besides demo it is more appropriate to continue a micro account. It works really.

When we are making use of the Demo trading accounts the income we can get will also get increased.

 

[Stichomythia]

Many beginner traders are in such a hurry to begin live trading, that they do not give enough practice in the demo account.
Many old traders suggest using demo trading for atleast 6 months. There is no time limit as to how long you should keep paper trading. But I suggest newbies to continue doing so till the time they have formed and strengthened a strategy that they will be using in live trading.

 

[Triphibious]

When you’ve learned trading and understood the market behaviour deeply then you can start trading in a live account. Also, when you start making consistent profits in a demo account then you can easily move to trade in a live account.

 

[FXOpen Trader]

When you’ve learned trading and understood the market behaviour deeply then you can start trading in a live account. Also, when you start making consistent profits in a demo account then you can easily move to trade in a live account.

We have to make some Efforts in the correct directions.

 

[Distributive]

That really depends on your learning capacity. It doesn’t take too long to understand market sentiment. Try to practise for 4 months minimum. If you found your strategy and have a plan in mind, go ahead and start live trading.

 

[Swissing]

It is important to spend at least two months trading on a demo account. This will let you get a feel for the market and how it works. You will also be able to learn about the different types of orders and how to place them. After you have been trading on a demo account for a while, you will be able to start trading live.

 

[Adjudge]

Don’t depend on others for this. We have no idea about what skills you have learnt and how well you are performing on your demo account. Take the risk once you feel ready.

 

[Somerze]

One should use a demo account until one gets comfortable with trading and its related concepts. Those traders who leave their practice on a demo account and start trading on a live account lose in the forex market. A demo account will help a trader understand trading and how to trade in certain market situations. A trader should give at least 4 to 5 months of dedicated practice on a demo account. However, this is not fixed as some may require more than that, but 4 to 5 months is the minimum; you cannot rush and hurry.

 

[Interceptor]

Instead of being worried about the time you spend on demo trading, you must be worried about what you will do if you don’t learn a certain thing. Practice for a while on a demo account and when you feel confident about risking your money, take a step forward.

 

[Monsoon]

Demo trading is meant for one’s practice. It has nothing to do with how long others have been spending on their demo accounts. Aim at learning well and go live when you feel ready.

 

[EyeCandy]

There isn't the same timeline that applies to everyone. The amount of time it takes each trader to feel at ease with trading on a demo account will differ in each trader. It took me 8 months to become consistently profitable.

 

[Anie]

For how long a person should use a demo account ultimately varies from person to person. How much time traders are taking in understanding the platform is the major deciding factor in this case..