How long should I trade with a demo account as a beginner

[selebobo]

Hello

I am new in Forex and i am still practicing different strategy on my demo account,i just want to know for minimum how long should i take to trade with demo account then to start using live account.

 

[Fin_Trader]

Hello

I am new in Forex and i am still practicing different strategy on my demo account,i just want to know for minimum how long should i take to trade with demo account then to start using live account.

I think that you should trade on your demo account until you are positive about your trading skills and the strategy you have chosen

 

[Sherverty]

As a beginner, the duration of trading with a demo account varies for each individual, but it's generally recommended to use it until you feel consistently comfortable and profitable. A common guideline suggests spending at least a few months, allowing time to understand market dynamics, test strategies, and hone risk management skills. However, it's crucial to transition to live trading once a basic understanding is achieved, as real market conditions can present unique challenges. Balancing the use of a demo account with live trading experience helps bridge the gap between theory and practical application, fostering a well-rounded skill set for sustainable success in the financial markets.

 

[Ismailbasha]

There's no defined timeframe. Although I would recommend you to spend atleast 5 months in the demo account. This will give you enough time to play around with various strategies and see what works best for you. Also, it will help you have a good understanding of how the market works. Once you're confident and once you start seeing consistent profits, you can switch over to live.

 

[Fin_Trader]

I think that if your trading strategy produces profit on a demo account for 6 months, then you can open a real account. But it is better to first open a small real account, since a real account will also have a psychological component, which is not present when trading on a demo account. And this can make trading worse when emotions arise that you need to learn to control.