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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.I have used my demo account for more than six months. I use it even now for back-testing my strategies.
Backtesting can give you an idea about the strategy. But before trying on a live account, it is good to try on a demo account. Every trader should do some backtesting before trying the strategy on a live account. There is no point to lose money by trying on a live account.The demo account is certainly useful, but it doesn’t evoke the same emotional response as a live account.
Yes you are right. Experienced and successful traders always do experiments on demo to keep up with the changing market, as market doesn't behave same all the time.A demo is the best option to practice and learn forex trading.
If our trading skills will get increased we can start making more profits also.Yes you are right. Experienced and successful traders always do experiments on demo to keep up with the changing market, as market doesn't behave same all the time.
Perfect; nice to see you have been using your demo so sincerely! Actually, most of the new traders try to make quick money here & they ignore the learning part initially! This is why, more than 95% traders are struggling here! By the way, I believe now you are enjoying your live trading experience!I have spent almost 1 year in demos. As I know that without sufficient trading expertise this trading journey can be difficult as a trader may not be able to carry out all of his trading activities systematically due to lack of education and expertise. And for this reason, a trader must spend sufficient time in the acquisition of trading knowledge with the help of demo trading accounts.
We will need to start doing a lot of practice in this business so that the results can be obtained by us.Well, initially my target was around 3-5 months but after that reason I understood, it’s not enough actually! Then restart my learning process in demo! In total I used my demo for 15 months; yeah it took such a long time to learn Forex!