andry777 Posted March 3, 2011 Share Posted March 3, 2011 I think almost all traders will agree with me if demo account is important in trading. So in your view, how long that is commonly enough time to use demo account? If my view, I think for newbie traders who wanted to learn about how to trade, it will need at least 1 month until 3 months but after that they still could use it if that is necessary. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted March 4, 2011 Share Posted March 4, 2011 I think there is no secified time to trade in demo as a newbie but must be trade in demo because of getting knowledge, and for this 15 days or 30 days is enough i think and i also do that before and when he will understand that is ready to trade in real then only should come in real. Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 4, 2011 Author Share Posted March 4, 2011 @Nikhil Yeah, 15-30 days is enough to know about trading platform and familiar with how to use it well but it's not good enough to make strategy which is suitable for us and also we must decide which pair that we will use to trade, we must know its characteristic and then we must make risk management and then we must train how to make profit in many conditions. I think for fresh newbie, it's more than a month mostly but for some people, it could be a month only. Quote Link to comment Share on other sites More sharing options...
silenteyes Posted March 4, 2011 Share Posted March 4, 2011 I think one month is not enough for every one because all have not same abilities to pick things. The users with active and sharp minds will get things going in their first month but for others it may take 3 months or even 6 months. Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 4, 2011 Author Share Posted March 4, 2011 @silenteyes Yeah, I think it will be better if we used more time to learn and we didn't too hurry to trade in real account but I am not too much agree with you. 3 months is long enough and 6 months for me that was too long and that was wasting too much time in demo account only. There are something which we could learn only in real account so we shouldn't waste our time in demo account only. We could move real account and demo account at once. Quote Link to comment Share on other sites More sharing options...
indieover Posted March 4, 2011 Share Posted March 4, 2011 a month is enough to get familiar with trading. but i think to develop our skills or perfect it we must spend more than a month on demo trading. 15 to 30 day in demo s is not enough to make you a good trader in forex. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted March 5, 2011 Share Posted March 5, 2011 @indieover probably its true 15 to 30 days is not good but i think demo is unable to give us full concentration for this i think its better to real with small amount which give us more concetration but after learning in demo. Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 5, 2011 Author Share Posted March 5, 2011 @Nikhil Yeah, I am agree with indieover. That will be better if we used demo account a little bit longer. In the first month, it could be used as training to know how to run the platform well and to decide pair which we used in trading, and second month, we could try to determine our trading plan and did that. Quote Link to comment Share on other sites More sharing options...
mownabratadey Posted March 6, 2011 Share Posted March 6, 2011 Since we all know Demo account practice is the first & key of success in Trading platform, although I have passed my practice experience some days ago &now trying to concentrate on real money trading... some times I feel unlucky whenever it does demo help me to get back to my past position... So demo practice is very important as trader.... Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 6, 2011 Author Share Posted March 6, 2011 @mowna Demo account is not important as our training about trading but also it's important for us who didn't have any strategies yet or we wanted to try our new strategy. We didn't need to try in real account directly because that was risky, demo account could be used as testing account. We could also determine the right trading plan which suitable with us with demo account first before we used in real account. It will be more profitable. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted March 6, 2011 Share Posted March 6, 2011 Since we all know Demo account practice is the first & key of success in Trading platform, although I have passed my practice experience some days ago &now trying to concentrate on real money trading... some times I feel unlucky whenever it does demo help me to get back to my past position... So demo practice is very important as trader.... I think you are moving correctly in forex trading . its good news that you getting success in demo and definitely will success in real also , i think just follow in real what you done in demo but keep in mind money management also. Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 7, 2011 Author Share Posted March 7, 2011 @Nikhil Not always like that because real account is really different with demo account. We didn't feel the psychology when we used demo account in our trading but we will feel that when we used our real money. It will be harder to follow trading plan, to open or close position, to do cut loss or not changin Stop Loss. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted March 10, 2011 Share Posted March 10, 2011 @andry777 I think it is emotion which is involed 100% in real and there is no % in demo . when trade demo we can open trade any condition without fear of lossing but its totally difference in real when we trading our real money . so you are fully correct surely. Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 10, 2011 Author Share Posted March 10, 2011 @Nikhil If you used demo account for trading in contest, there is few psychologies which you could learn although that was different with our trading in real account. If we wanted to win the prize, so we will calculate as good as we can and we will avoid to get some losses to win the prize which is given, especially if the prize is really high. Quote Link to comment Share on other sites More sharing options...
boniez Posted March 12, 2011 Share Posted March 12, 2011 I think the same, although we're doing the contest. I'm not too loong to work on the demo account, maybe just one day when first I knew forex, and then i go to the real ... Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 12, 2011 Author Share Posted March 12, 2011 @Boniez That was too risky, what could you learn from one day only in demo account. I don't think there are many things which we could learn instantly in a day, except you are genius person. I think 1-3 months is the most possible time to learn about forex from beginning. Less than a month, that is not effective. Quote Link to comment Share on other sites More sharing options...
boniez Posted March 12, 2011 Share Posted March 12, 2011 @Boniez That was too risky, what could you learn from one day only in demo account. I don't think there are many things which we could learn instantly in a day, except you are genius person. I think 1-3 months is the most possible time to learn about forex from beginning. Less than a month, that is not effective. indeed it is very risky, so I've spent my money in the forex market. but although however, I do not feel comfortable being used in the demo account. because I do not think our psychological challenge is train properly in the demo Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 13, 2011 Author Share Posted March 13, 2011 @Boniez Yeah, our psychology couldn't be improved if we used demo account. Demo account is used to improve our strategy and our planning in forex market. We could also learn about money managment with demo account but if you wanted to train your psychology, you must use real account. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted March 15, 2011 Share Posted March 15, 2011 @andry777 you are absolutely correct about this that our psychology couldn't be improved via demo trading but it may give us knowledge and strategy .but about money management i think its fully depend on us and there is no more need for demo for this i think. Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 15, 2011 Author Share Posted March 15, 2011 @Nikhil Yes, we could learn how to use good money management with demo account so although we didn't use real account, we still could learn something and if you wanted to learn psychology, it must be done slowly but sure. Low amount of capital is good to start it. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted March 17, 2011 Share Posted March 17, 2011 Low amount of amount is good i also think where less risk involve and i think from first to start with low amount but not after big amount because i seen if we start with big and than less amount than its hard to concentrate when with low amount low profit . Quote Link to comment Share on other sites More sharing options...
andry777 Posted March 20, 2011 Author Share Posted March 20, 2011 In the first time when we are trading, low amount of capital is good because we can learn about psychology in forex without risking too much amount of capital but it's risky if we used that too often. Using low capital is more risky than using higher amount. Quote Link to comment Share on other sites More sharing options...
chuna1985 Posted March 27, 2011 Share Posted March 27, 2011 I used the demo for one month or less, but now i know better, the demo is a place where all newbies must be till they are able to trade successfully and develop new strategies that they will use in their trading when they get to the live accounts. You are not supposed to leave the demo without learning all that is necessary. Quote Link to comment Share on other sites More sharing options...
pinoycity Posted April 8, 2011 Share Posted April 8, 2011 I used the demo for one month or less, but now i know better, the demo is a place where all newbies must be till they are able to trade successfully and develop new strategies that they will use in their trading when they get to the live accounts. You are not supposed to leave the demo without learning all that is necessary. Â This is a nice thread and one that newbies will have to read because of what they will learn from the thread And I agree with chuna when she said that "you are not supposed to leave demo". You can never stop learning and re-learning when it comes to forex, so a demo account must always be around. Quote Link to comment Share on other sites More sharing options...
Nikhil Posted April 9, 2011 Share Posted April 9, 2011 I used the demo for one month or less, but now i know better, the demo is a place where all newbies must be till they are able to trade successfully and develop new strategies that they will use in their trading when they get to the live accounts. You are not supposed to leave the demo without learning all that is necessary. yes its true and better and have to trade untill we will not understand we are ready for trade in real . and for this we must success in demo and it need continue few days not sudden profit . but the problem is that most of the newbie come in real after shorttime of demo trading and it make them trouble. Quote Link to comment Share on other sites More sharing options...
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