try to test your strategy first

[Alicia Lynch]

Every knowledge needs to be practice. Otherwise, it is a waste of time to spending learning.

Yes, you are right. There must be practice. Besides, you have to develop knowledge by acquiring education.

 

[Kazumu Fukunaga]

Yes it is important to test trading strategy on demo before trying it on live account. Without knowing the pros and cons of a strategy, it is not good to try on live.

 

[Eduardo Lucchese]

Every trader should test their strategies on a demo account first. Otherwise, they may face a huge loss.

 

[The trader]

We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.

 

[Andrew McCalam]

success always complicated issue at any sector even Forex trading but it can be achievable of course by means of real patience, otherwise there is no real chance.

 

[Faal]

you can start with baby pips school , its more informative and knowledgeable than others.

 

[Cooper Truebridge]

Yes, it is very important to use a demo platform to create any strategy. I take the help of demo trading whenever I want to add any analysis to the trading.

 

[Yves]

I fully agree with you. A demo account is good for practicing strategies

 

[Kazumu Fukunaga]

Unfortunately most people use demo without any plan and strategy. Out of merely assumption they open trade. They do not have any clue why they are opening a trade.

 

[Aaron_0]

Yes, I use the demo account as my practice ground and here I test my strategy.

 

[SaadBinToha]

EA trading carries large amount of risk for traders. Try such a broker for EA trading that uses smart bridge technology to ensure smooth trading performance for traders.

 

[Ethan]

Some regulated trading brokers allow traders with good amount of welcome bonus which is a great opportunity for those who don’t have sufficient trading capital.

 

[Aaron_0]

We fail in forex with our strategy just because we don’t test our strategies begore applying it. Testing a strategy helps us identify whether it produces better result or not.

 

[Bahiya Shinam]

my advice here for the newbies is try to test any strategy which you will trade with it in real account for example if you will trade with broken trend strategy in your real account try first to test it at least for 3 months in the demo account this thing allow you to trade with tested and trusted strategy in your real account

For beginners, it’s crucial to test any strategy on a demo account for at least three months before using it in a live account. This practice helps ensure the strategy is effective and builds confidence, allowing you to trade with a proven, trusted approach.

 

[SaadBinToha]

Frankly, only 3 months is not enough here! You may know, there have only 10% even less successful Forex traders, that’s the reflection of the value of profitable trading strategies! In order to me, after getting good result traders may practice minimum 6-8 months! Don’t open your live trading account emotionally based on 3-4 TP result!

You’re right—three months is often too short to gauge trading success. Many traders need 6-8 months to develop and test profitable strategies. It's crucial to avoid emotional decisions and to thoroughly evaluate your results before opening a live trading account. Patience and practice are key.

 

[Aaron_0]

It is good for any trader to first of all try to test their trading strategy in the demo account first of all before they will trade with the strategy in the real account. If you test it in the demo account, you will be able to see if the strategy is bad and you can be able to correct it.

Testing a trading strategy on a demo account is essential for any trader. It allows you to evaluate the effectiveness of the strategy without risking real money. By identifying weaknesses and making necessary adjustments in a risk-free environment, you can enhance your approach before transitioning to a live trading account.

 

[Ethan]

Thank you very much for your guideline! That’s really true, novice traders need to practice their trading strategies in demo for a long time! I used my indicator based trading strategy for 8 months, when I got consistent result there, then I have started my live trading journey, and now I am using all of parameters in my live account as like my demo, so same trading result here!

Achieving consistency there before transitioning to live trading is essential. Using the same parameters in your live account enhances confidence and increases the likelihood of replicating your successful demo results.

 

[Aaron_0]

Actually according to our trading experience we the traders select our trading style in Fx trading. Basically, Long term trading I think always safe and comfortable but we have to make sure first of all sufficient trading balance for that. My trading career I always like to trade with long term trading, but sometimes I use scalping approach due to getting profit very rapidly.

It's true that traders develop their style based on experience. Long-term trading can be safer and more comfortable with sufficient capital, as it allows for more flexibility. However, scalping can offer quick profits, though it requires intense focus and precision. Both styles have their advantages, so it's important to balance them based on your risk tolerance and market conditions.

 

[Harvey]

My advice for newbies: always test any strategy in a demo account first. For example, if you plan to trade a broken trend strategy, practice it for at least three months to ensure it’s reliable before using a real account.