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What is an advised timeframe to demo trade forex before beginning live trading?

Monday, 14th September 2009

Hi, I am new to Forex and have been getting advice from friends that I need to demo trade for at least a year before diving into live trading. What is a recommended timeframe to demo trade for?
 





Lea
Do you mean time frame to use for charting?

Do you mean time invested in demo trading before you start live?

Assuming you mean the time frame for beginning live trading, i would say no more than 6 months. Just as trading itself, with the level of leverage it presents great opportunities, but could be a "double edged sward" in itself, too long of " demo" trading will keep you too lax and will not create an "edge" needed for successful life trading.

I will attach the spreadsheet in excel to help you make a traders' " business plan".

See answer to one of your questions.
It will be attached.
Tuesday, 15th September 2009

Sources:
www.fxuniversity.org

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