How long did you demo before going live?

[glyder]

I'd suggest once you have found your system/ method that gives you an edge, demoing for three months at the very least.
Find out all the mistakes you are likely to make and make them all for free at the same time as honing your technique. Whats a few months to learn a skill that can repay you for a lifetime.?

 

[JDTRADER]

Oanda FX Trading Platform
Practice Forex Trading with FXGame - OANDA FXTrade

This video is of the Game platform but the Trade platform is the same
YouTube - A look at the Oanda FXGame trading platform

Its a bit of a mission to get funds onto Oanda but you can trade with very small amounts trading from 1pence or 1 cent with a deposit of £50 or $50.

Use the game platform first run down the starting balance to a balance that you would fund in a real account and trade from there until you see a profit

 

[trader545]

It's really good to try different brokers with different platforms, because experience is the most important. But after trying, I think, it's better to find THE ONE, that suits you best - who has a reputation in the financial market, where the customer care support is very good and of course, it must be safe and reliable!

Definite demos help to grow yourself matured. The best investment is always the investment on your brain. Without a doubt, Forex trading needs much more than just a few guidelines or tips to be successful. Experience, knowledge, capital, fortitude, and even some help of luck are all crucial in one’s success in the FX market. if you lose in a trade, do not lose the experience in it. Learn from your mistakes and regain your position in the next trade

 

[oiltanker]

most soldiers get 6 months training. commandos get a year before they are sent anywhere near the real thing.

 

[dulcea]

most soldiers get 6 months training. commandos get a year before they are sent anywhere near the real thing.

I like this very much! I suppose people who have more money than patience and can afford it will go stright to live platform. I spent a while learning before I opne a real account, I have still a demo platform, it is lika security blenket for me, but usefull if I wanting to try something new and not sacrfice real money!a

 

[p-lab]

I like this very much! I suppose people who have more money than patience and can afford it will go stright to live platform. I spent a while learning before I opne a real account, I have still a demo platform, it is lika security blenket for me, but usefull if I wanting to try something new and not sacrfice real money!a

I disagree, I don't any issue with a £100/200 capital and trading small. Why blow out a big account to teach yourself. Of course for everyone its different

By own experience demo trading only gave me a false sense of confidence. Yes it was great for finding the right platform in this case IGindex and some basic idea of what trading was all about but that was it. For me losing money live was the best learning experience suffering a 60% draw down trading the cable out of hours. Averaging, moving stops, all sorts of nonsense demo habits I had picked up. This was the point when it felt real. Trading small. .5/pip and trying various strategies has got me to a point where I am happy with just a handful of major FX pairs a 60 sma and support and resistance. For me demo lets you commit all the bad habits you read about on this forum, Live teaches you discipline. To answer the question it was about 8 weeks but it would be fair to say it put me back 16 weeks

 

[Pippy5000]

I went 0 days before going live

Video game FX is useless. At least get a micro account to learn. If you don't have 10 cents per pip to burn then perhaps it's time to move on to online poker. Your chances are approximately 3X better at winning at casino games than FX.

For FX you should use an amount of money you "slightly" care about, but nothing which would cause economic harm, because you're going to lose it. Whether you be a MENSA member, rocket scientist or a garbage man, you'll lose it. Demo trading provides a largely irrelevant experience and false sense of security. Those who recommend years of demo trading generally don't have years of experience themselves.

 

[virtuos0]

I went 0 days before going live

Video game FX is useless. At least get a micro account to learn. If you don't have 10 cents per pip to burn then perhaps it's time to move on to online poker. Your chances are approximately 3X better at winning at casino games than FX.

For FX you should use an amount of money you "slightly" care about, but nothing which would cause economic harm, because you're going to lose it. Whether you be a MENSA member, rocket scientist or a garbage man, you'll lose it. Demo trading provides a largely irrelevant experience and false sense of security. Those who recommend years of demo trading generally don't have years of experience themselves.

I second that. I don't believe anyone trades like they do on demo when they go live. It's a different ball game.

 

[NetTecture]

I went 0 days before going live

Video game FX is useless. At least get a micro account to learn. If you don't have 10 cents per pip to burn then perhaps it's time to move on to online poker. Your chances are approximately 3X better at winning at casino games than FX.

For FX you should use an amount of money you "slightly" care about, but nothing which would cause economic harm, because you're going to lose it. Whether you be a MENSA member, rocket scientist or a garbage man, you'll lose it. Demo trading provides a largely irrelevant experience and false sense of security. Those who recommend years of demo trading generally don't have years of experience themselves.

Not sure I carry that. I am in the finishing line of implementing an algorithm. I will let it run 2-3 weeks TOTALLY on a simulator - looking for technical issues.

This is one thing forgotten - how does the CODE behave?

 

[virtuos0]

Not sure I carry that. I am in the finishing line of implementing an algorithm. I will let it run 2-3 weeks TOTALLY on a simulator - looking for technical issues.

This is one thing forgotten - how does the CODE behave?

Pointless. On demo you will get instant fills and no slippage. Transaction costs are a much underestimated issue in trading.

 

[NetTecture]

Pointless. On demo you will get instant fills and no slippage. Transaction costs are a much underestimated issue in trading.

Actually it does NOT Only a crappy demo gives instant fills.

This particular one I have:
* Delays order entry by 150ms before processing.
* Asses chances for limit orders based on trades AND order book.
* Handles fills for stop orders based on order velocit (5ms delay from trigger to execution) and order book.

See, not everyone has a crappy simulator.

That said, it will expose issues with the trading logic and other things that simply may not be in. Again, the deal is NOT to see "ok, do I make profit" but "hm, does the whole thing work logically without crashing, funny exceptions and / or forgetting about positions.

 

[virtuos0]

Actually it does NOT Only a crappy demo gives instant fills.

This particular one I have:
* Delays order entry by 150ms before processing.
* Asses chances for limit orders based on trades AND order book.
* Handles fills for stop orders based on order velocit (5ms delay from trigger to execution) and order book.

See, not everyone has a crappy simulator.

That said, it will expose issues with the trading logic and other things that simply may not be in. Again, the deal is NOT to see "ok, do I make profit" but "hm, does the whole thing work logically without crashing, funny exceptions and / or forgetting about positions.

Fair enough. I'm intrigued to know what company offers this 'real' demo?

 

[Daniel Webb]

Hi!

I Am quite new to this game and recently started my FX education.

How long would you recomend to trade demo acount before goning in with real money,

Or mabye I should rephrase the question; How long did it take for you guys before tradeing demo confidently and find strategies to aply on the FX market?



Cheers

I suggest you trade demo accounts for about 2-3 months. Consider this advice, do not trade live until and unless you have been able to double your demo account three times in a row. Fix a schedule as to when you should be able to double your account. Let's say, aim to double your account three times within 3 months. If you achieve that, then you can start thinking of trading live.