How many trades should I make in a demo account before progressing onwards.

This is a discussion on How many trades should I make in a demo account before progressing onwards. within the First Steps forums, part of the Reception category; I like sizzler944's concise list although I'd prefer not having to wait 3-4 years until I'm profitable. Who knew there ...

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Old May 27, 2011, 5:06am   #17
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Re: How many trades should I make in a demo account before progressing onwards.

I like sizzler944's concise list although I'd prefer not having to wait 3-4 years until I'm profitable. Who knew there was so much debate over whether to trade demo or not!

I'd have to agree with TimYoung, if you trade on demo as you would with real money there's no way that it can't be considered a valuable testing bed and learning tool.
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Old May 27, 2011, 5:38am   #18
 
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Re: How many trades should I make in a demo account before progressing onwards.

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Originally Posted by forefit View Post
Thanks but doesn't answer my question tho, how many trades is needed before you can say a that a system works? or isn't there a number?

By the way I don't want some smart **** to tell me that I would only truly know if a system works after I have done infinite trades or a million trades. Lets be realistic people.
It depends what you mean by 'system'.

If you have a totally rules based system that uses no discretion but just a technical set of rules and it has been backtested on old data. It wont work anyway.

If you have a system that takes 100 x 1 tick trades a day, capitalizing on a tiny edge - you will need thousands of trades.

If you have a technique where you are making 2 or 3 trades a day, I'd say give it one month before going live.

When you go live - you have to start small. This would be an issue if you have a system that trades the ES and you have a $5k account.

There are so many variables here and the answers you want can only be given if you tell people what it is you are doing.
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Old May 27, 2011, 5:40am   #19
 
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Re: How many trades should I make in a demo account before progressing onwards.

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Originally Posted by sizzler944 View Post
3-4 years everyday.
Ignore all commentary.
Use simple charting, don't over elaborate.
Pay close attention to all central bank and govt actions and statements, to war and natural disasters.
Trade one item and don't budge however obvious it looks.
Learn to wait for "the moment of the sure thing", even if it takes months or years.
Move your stop to either protect profit or increase position.
Observe yourself constantly.
LOL @ 3-4 years, every day BEFORE making a live trade.

Yup - just take 3 or 4 years off work and you'll be fine. Then switch to live trading at the end of year 4 and you'll have no problems whatsoever. After all, live trading is just the same as SIM trading.
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Old May 27, 2011, 5:44am   #20
 
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Re: How many trades should I make in a demo account before progressing onwards.

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Originally Posted by Anita V View Post
I like sizzler944's concise list although I'd prefer not having to wait 3-4 years until I'm profitable. Who knew there was so much debate over whether to trade demo or not!

I'd have to agree with TimYoung, if you trade on demo as you would with real money there's no way that it can't be considered a valuable testing bed and learning tool.
Well, that's rather the point, isn't it.

You can't trade demo as you would with real money.

You can however play with small money. Hence we need a small money thread methinks....
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Old May 27, 2011, 7:03am   #21
 
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The only argument people appear to have is learning self control to keep emotions out the decision making process. To me this is like telling the person to go fly an F16 without knowing anything about the controls or terminology. People have to learn about the market first. People have to find their way to consistently being correct more than they are wrong. Some of you think if people cant afford a few hundred bucks then what's the point. Why would anyone want to spend even a cent if they don't need to in the learning process. They might as well take that money, wipe their @rses with it and flush it away because they will lose it all while learning guaranteed. The only difference between demo and real functionally is execution.
Why is it so important to have real execution if the person is still trying to figure out their @rse from their face in this business. There is absolutely no point in going live until these people learn how to trade first. You can't run before you crawl. Such advice can be detrimental to new traders because the pain of being wrong and physically losing money in the process can only do more harm than good. Why add additional pain to the process of learning when it isn't necessary. How can anyone master their self control if they can't trade in the fist place. Execution isn't important in the early stages of development.
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Old May 27, 2011, 7:07am   #22
 
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Re: How many trades should I make in a demo account before progressing onwards.

Forker - you can trade forex for pennies on Oanda.

Even this is MUCH better than SIM trading. You need skin in the game.

Are you saying that SIM trading is more valuable than, for example, using an Oanda account, trading live money yet only risking $20 per week?

It's just lack of knowledge that makes people think there's nothing between SIM & full size, when there is.

There is really no point in doing ANY trading SIM/small size/full size if you have no clue what you are doing.
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Old May 27, 2011, 7:13am   #23
 
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I know you can risk small amounts but what's the point of throwing money away for nothing. Skin hasn't got anything to do with learning the techniques, the market, the cycles, the language. Until new traders have a clue what's going on and how to make money I just can't see the point in throwing any money at it even If it's nothing more than the cost of lunch. When these guys have something that reflects a virtual account growth then they can make the next step and grow a skin as you call it with some real cash
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Old May 27, 2011, 8:59am   #24
 
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Re: How many trades should I make in a demo account before progressing onwards.

Trading is engaging the market, SIM trading is not.

I am not sure of your level of experience Forker or how many professional full-time traders you associate with. I personally have a small number of professional traders I keep in touch with. They are unanimous in the opinion that SIM trading is detrimental in the journey to becoming profitable.

In fact, it was a professional, full time trader that dragged me away from SIM trading despite my own protests.

You do not need to bet the farm but you DO need to engage.

SIM trading is to real trading what masturbation is to making love to a beautiful lady. Not even really relevant. It's a different game entirely. It just keeps your hands occupied.

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