That's another wise opinion, i guess demo accounts should be traded for at least more than six months before going to live trading. Moreover demo accounts can be helpful in backtesting the strategies or EAs before we put them to live accounts.
I traded demo for 4 month and still use it sometimes. It's not obligatory to set up some certain periods. Especially if you feel that you are ready to go live
Trading demo is not prohibited at all but it is really a good thing to practice and learn through practicing strategies that can help in earning money through forex trading.
I do not know if you have started trading with a Live account; but I'd like to know, Did you ever practice with a Demo account? If you haven't, you'll find it very hard to understand what's going on. To be successful, you'll need to be properly educated in Forex. Just like others have recommended, please visit babypips to learn more.
And did you start with demo? The person who asked those question did it in 2015 year. But we will be glad to read your story!
Thank you for making me laugh "controls the situation", LOL. Just wait when your Trading Plan fails you when something unexpected happens and you become deer in headlights. Do you have a written Trading Plan with charts? Yep, I will chuckle most of the day. Best you can do is trade like a robot following your rules, but markets don't stand still and if you don't have a stop AND have ability to take a loss, many have to keep refunding their accounts. It is like poker, play aggressive conservative, get in and get out or lock in one pip/tick and manage trade. I believe if you triple a demo account three separate times in forex, only then one is ready for try at real time, otherwise you betting on the red or black. Trading is not about finding signals to get in, it is about knowing first when to not take trades. Good luck.
I see what you are talking about. I meant not the full situation control, but understanding whether the trade can be profitable or not, getting onto the market and seeing the price movement, controlling not the price itself, but opened orders. I know that overtrading and putting orders every minute is not a good way on Forex, but I thought it's an essential thing
I started reading about Forex online and then got two books from my friend, Market Wizards and Mastering the Trade. I read these books thoroughly before practicing with a Demo account.
That is really great! you can also search for the webinars offered by many brokers which are also good for enhancing knowledge required to be successful trader.
Oh, I'd rather say that not all webinars are the same good Look at the quality first. I met some webinars that were just an advertisement and I didn't learn anything new from them... However, they can show us how the broker treats traders