Should I go for a live account?

[vic84]

Only you can decide it that you can start a live account or not. If you have learned well with 4 months and have good experience then you can but start with small amount. Check your 4 months experience in small account first then decide what to do next.

 

Yeah it depends on the individual trader to decide whether he is able to open a real account or not, he should be confident enough to trade and should have spent a good amount of time in the market.

[Princess Fuzzie]

It is much more difficult to trade in the live account not because of the technical aspects but because we not only have to think twice, nor thrice, but many times because that will be real money on the line.

[Guest philippadedlund]

Make sure you learnt well.

1. Learn forex (How to trade)

2. You must have a solid strategy. (I trade Price Action in daily chart)

3. You must have well money management (90% reason traders lose account even if they win 70% of their trade!)

[SweetAnalyst]

It's very important to learn first the things that are important for trading. It is necessary because it will help you decide on what strategy you will use. It is quite hard and challenging, yet it is very good if you learn. You can also ask for help from professionals like JAFX of which they are very successful as ECN forex broker.

[venturefx]

I moved on live after 6 month experience with demo. Never try live account if you don't control losses, I mean don't set stop loss and take profits,because in the long run you are guaranteed to receive a trade that will against you till eat up all your deposit.

[hafidfx]

Demo is good for understanding how the trading platform work. Some traders recommend to use demo accounts during 2 weeks and then start to trade microlots. Using demo for a long time can make you reckless in money management.

[MrBlackT]

I would say two weeks is a little short. At least a month. I sometimes go back to demo now to test new strategies.

[tomlelab]

I would say, you need to keep practicing more than that. Two weeks is nothing. The money management is a technique that you can work on, as well as tehnical analysis. Once you feel more comfortable with that, and once you have obtained a satisfying ratio of win vs loss in demo mode or simulator, you will have to work on the emotional factor. But this will be easier if you have confidence in your technic. Just as if you were praticing a sport before an official competition: repeat your backhand drop at your squash training session, and once in an official match, you won't be afraid to make that winning drop ! :-)

I personnaly use this forex simulator website to keep learning about my skills

[Guest Mohamad Tammat]

I think, you should go live, when your demo trading is profitable. When you have a certain strategy, tested on demo. Then you should try cent account and trade on it for a while. It helps you to feel the trading with real money, when you risk, so emotions influence your actions. And the next step is live trading.

[Guest Irina]

If you have been able to manage capital on demo accounts developed into better, have a good trading performance, can be tried on a real account, because however will be less good if practiced continuously in a demo account

[Guest Siyan jheel]

Yes, if you doing well on the Demo account then you should definitely move to Live accounts. Four months of practice is quite good just be consistent on the Live account as well, be more focused because the situation and environment in the demo and Live account differ.