Yes exactly!Perfect answer. No one knows how long will they be trading, so keep trading until you feel like you are ready to go live.
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Yes exactly!Perfect answer. No one knows how long will they be trading, so keep trading until you feel like you are ready to go live.
When we are making use of the demo trading account we can make more profits easily.As long as you want! Trading on a demo account is always beneficial for traders to enhance their skills and backtest strategies. But the truth to be told, neither it makes you money nor makes you an experienced trader. Thus, you should begin live trading once you have acquired practical skills. That could happen at any time. 6 months or a year. That’s up to you to decide when to take the risk, depending on your skill-set. However, it is suggested to all traders to stick with demo trading for at least six months.
As long as necessary, till you feel ready at least for live trade.There is no such specific time. 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.
This is where many have been missing the point, even as an experience trader you can always come back to test your strategies on demo account to master it before going live.Yes, a good trading system should be used. But a trader should also know how to use it and be profitable. So practising on a demo is a must and time which is needed to spend on a demo account depends on the learning capabilities of the trader.