Demo Account

[JasonC2]

Can i ask everybody, what level of performance on a demo account would you say is needed to establish a safe competance for spreadbetting, before a real account is used?

Thankyou
Jason

 

[millsy500]

Trading real money is a whole new ball game compared to demo. Are you trading a plan with set rules entry and exits set out in stone or are you trading descrectionary or whatever?
With real money real emotions kick in greed fear etc etc
Good luck btw

 

[counter_violent]

Competency, as in know the platform and it's functions inside out....try everything.....but as millsy500 says....real money ...real fear and greed....good luck

 

[JasonC2]

Trading real money is a whole new ball game compared to demo. Are you trading a plan with set rules entry and exits set out in stone or are you trading descrectionary or whatever?
With real money real emotions kick in greed fear etc etc
Good luck btw

I agree it's a whole new ball game with real money, i been using discretionary trading in demo, no plan or system but i've nearly quadrupled my starting balance in a week

 

[counter_violent]

i've nearly quadrupled my starting balance in a week

Not good , classic over use of leverage and over trading....result...blow up account for certain..

 

[peto]

If it is a 'proper' demo (real time fills, slippage etc.) then making any consistent profit will not be easy. And until you can make a profit here there is no point going on to 'real money' trading.

 

[pssonice]

Trading real money is the same ball game compared to demo

u ve to start with small lots

 

[Hoggums]

I agree it's a whole new ball game with real money, i been using discretionary trading in demo, no plan or system but i've nearly quadrupled my starting balance in a week

One week is nowhere near long enough to establish whether your system (or lack of it) works or not. If you are still in profit in 3 months (should give you enough time to experience many types of market conditions) then you are probably ready to start with real money. It's really important to test your period for a long time - look at the charts for the FTSE - the first 3 weeks in March were dominated with big movements up and down which were easy to hop on the back of - the last week and a half it's now ranging searching for the next move - requires a different strategy to make money on.

However I predict that if you are making 300% profit in a week then your risks must be very high and an unforeseen change in the market behaviour will wipe out all your profits within 2-3 days.