How long should I demo before going live?

[1nvest]

As a beginner, I suggest trading in a demo account for a minimum of four months to familiarize yourself with the brokers' platforms and understand the forex market currency pairs.

if it takes 4 months to understand a broker's platform, then you really should have no place in trading whatsoever

 

[sharabela]

hi guys,

Im a newbie to trading and was just wondering how long should I stay in demo before going live?

Just wanting to get ideas from more experienced traders thanks!

It depends on how long you take to develop a solid strategy that works for you. It may take 6 months to 2 years. Then, with live trading, you need to practice your strategy with tiny lot in a micro account. Find out whether you can absorb the heat of the live market. Once you are very confident with everything, you may start live trading with a proper account and standard trading lot. On an average, it usually takes 3 years at least as far as my trading experience is concerned.

 

[Calix_12]

There is no specific time so once you get the confidence to go live, you can proceed.

 

[Sunfire]

Yes, each beginner will have their own amount of time that needs to be spent on a demo account. After all, there you will need to not only study the functionality of the platform, but also create your own trading strategy, optimize it and bring it to a working form. For example, it took me more than six months to do this. For someone else, it may take more time. Only after that I opened an ECN account with my broker fxopen, which allows you to open it starting from $ 100. Such a real account was small because trading on a demo account and on a real account is very different due to the psychological component, because on a real account you are already risking real money, so trading here is more emotional and you need to learn to cope with this and only after that you can risk more money.