How Long To Demo Trade Forex? (Podcast Episode 6)

How Long To Demo Trade Forex? (Podcast Episode 6)

this is the Forex Q&A podcast this is VP
professional Forex prop trader answering your user submitted questions every
Monday now if you want to ask a question you can do so just go to and you can ask me any Forex question that has ever been
on your mind as long as it’s forex trading related I will get back to you within 48
hours and your question might make an episode of the show so we are only on
Episode six I have shot seven episodes because I did an episode zero I just
want to say the response to this has really been tremendous it’s been way
above and beyond anything I would have expected at this point that I’m talking
about the sheer quality I’ve gotten and the excitement level that people have
shown me so far you guys are charged up and that’s awesome that gets me excited
too and it makes me want to keep doing this and building on to it more and more
may I think on YouTube for every like 9 or 10 views I’m getting I’m getting one
thumbs up that ratio is ridiculous you don’t see that anywhere and I think in a
lot of the videos I forget to ask for a thumbs up so really with all those
things considered I’m really really thrilled at the response I’m getting
from you guys so far turns out a lot of you are just really starting out I had
no idea was gonna be that way and that’s the reason why I’m kind of going slow on
the podcast to where on the YouTube channel we’re already starting to get
into actual technical analysis things that you can start to implement right
away and/or avoid because if you guys have watched the elimination video which
I will link below you already understand how important it is to know what to
avoid and what to get rid of before you even start and if you haven’t watched
that video go watch it like I said I will link it down below so it’ll be easy
for it to access but if you don’t know what to eliminate and you haven’t
eliminated it already it does not matter what I tell you from this point forward
you’re pretty much wasting your time now I have made this easy for you I have put
up the Dirty Dozen video on YouTube it is my favorite video that I have put up
so far maybe not even the most important I think the the elimination video
the big banks video don’t be a reversal trader video things like that are
probably more important but in terms of what to actually eliminate and what most
of you have probably already used in the past or are currently using that video
is super important I’ll link that one below too but I know and I know because
a lot of you have told me that you’re already wanting me to start to tell you
the indicators and the system that you should use to get into the best trade
entries and there’s a reason why I haven’t done that yet guys every single
one of you was set up to fail from the start and that totally sucks these
people should not have done that to you because you deserve so much better than
that you’re the one that actually took the time to learn something that most
people have no idea how to do that’s risky that involves losing your money
and you went for it people like you I will always support now you did do it
wrong you went to the wrong place you didn’t focus on the right things but
for one they didn’t tell you to focus on the right things but when you finished
learning how you were in absolutely no position to go out there and start
trading your actual money but you did it anyway and that it’s not your fault you
didn’t know any better you just knew what you knew and you fell flat on your
face but because you have found this podcast and because you have found the
No Nonsense Forex YouTube channel you get the chance to be set up the right
way the way you should have been set up before but weren’t and that is what I am
here to do however if for some reason you think I have already done that if
you think that I have already given you enough information here in late July
2018 to go out and start trading your hard-earned money you could not be more
wrong very soon I’ll be making a video that’s going to go in my forex trading
psychology series called the three qualities every Forex trader absolutely
must have and I’ll go ahead and foreshadow it for you right now one of
those is patience if you don’t have patience you’re done instant
gratification has no place in making money anywhere anytime
and I could really go off on a tangent about this but I’ll save it for the
video my point is I haven’t even come close to setting you up the way you need
to be set up to go out there into the real world and start trading but that’s
okay enjoy the ride just like most things the ride there’s
the fun part if you have taken in every podcast in every YouTube video or every
blog either way you like to do it that I have put out so far you are light years
ahead of any Forex trader that has ever walked this earth in terms of how well
you’re set up to succeed but we have a long way to go before you can ever
before I recommend you ever start putting your real money out there and
that leads in perfectly to this week’s question our question is from Callum
from Scunthorpe in the United Kingdom and Callum asks how long should I demo
trade before transitioning into real money I love this question now what I’ll
often do is when I get a question I will go research what other people have said
about it just to see how their answer is differ from mine and they always do and
it makes me sad when I see it’s like I was saying before that their answers are
really bad and they’re setting people up so horribly and not only that if you
were to come to me with a question like this would you want some kind of answer
that says you should well you know you should probably just demo trade till you
feel comfortable blah blah but no you want if you’re coming to me with a
question like this you probably want something direct and exact say hey just
give me a blueprint I can follow and I’ll do the rest don’t say just do it
until I feel comfortable I was gonna do that anyway I need some guidance here
give me something so that’s what I’m gonna do I’m gonna tell you exactly what
I think you should do and I hope you execute on it and if you really do have
patience this is the way you will approach it so for those of you who are
brand new on any brokerage platform out or at least they’d better do this or
else do not use them as a brokerage platform but you can demo trade which
means you get to trade fake money and the mechanics of the platform work
exactly the same as if you were doing it for real which is great so you can trade
in real and kind of see how everything moves and
reacts and you can do all of this as if you were trading real money which you
should do you shouldn’t take any liberties you wouldn’t take if it was
real or not but you can trade and actually see how you would do based on
the system and the style of trading you are currently using it’s fantastic but
so many people are in such a hurry to start trading real money that they don’t
trade it long enough now if you have done this in the past I guarantee you
one of two things happened either you started losing fake money and you said
well this sucks and you either stopped or you just hit the reset button and try
it again and if you chose the latter good on you because that’s what you
should do you keep trying until you find something that actually works or maybe
this happened to you you started making money right away in your little fake
money demo account and I can say this because this is what happened to me
you made start making money and you thought well okay what am I doing here
I’m just I’m leaving money on the table at this point I should go ahead and
start trading real money and start getting some of these returns and then
what ended up happening yep crash so here’s how you prevent that from
happening and here is what I want you to do the magic number is six months and
now I don’t mean demo trade for six months and then immediately go start
trading no I am going to ask and hopefully require that you go longer
than that you need to see a six-month sample in where you have made a six
percent return based on what you started with at the beginning of that six month
period so for example if you started out at fifty thousand dollars for example a
lot of demo counts will start out with an arbitrary number like that you need
to be at least at the fifty-three thousand dollar mark then and only then
can I recommend that you start trading real money and most people will not
achieve this right from the start so you just take whatever money you had started
and then six months later do the math and figure out if you’ve made a six
percent return or not and by doing this I don’t mean land one
gigantic over-leveraged trade in the first month
and then just stop you know that’s cheating and you know
it’s cheating that doesn’t count you have to be actively trading for six
months and get a six percent return before I will ever recommend that you go
out there and start trading real money and guys don’t despair this like I said
is the fun part this is where you put your system together this is where you
test your money management out this is partly how you test your trading
psychology out the trading psychology really won’t take complete effect until
you start trading real money but you can definitely get started here this is the
cool fun building part this is the part too when I do make those videos where I
give you a really cool indicator to use you can plug it in and see if it really
works for your trading when I give you a money management concept you can start
implementing that and see how it works for you it’s probably gonna work really
well and you would not have had that had you’d start trading real money now this
is the cool exciting part and the best part is unlike real money if things
don’t work you can hit the reset button there is no better option you can have
than to hit the reset button if things don’t go your way because in real life
things never work that way and for at least six months you get to have that
luxury now if this six month time frame or what’s gonna end up probably being a
little longer than that sounds too long for you just understand guys you’re
gonna feel like you’re leaving money on the table you are not you are leaving a
bunch of losses on the table you are leaving a bunch of heartache and despair
and self-doubt on the table spot forex trading is probably going to be around
the rest of your life which means you are going to be able to trade this
market the rest of your life if you cannot give 6 to 12 to even 18
months of your time to get it right before you get started
then you don’t deserve all the benefits that it has the potential to give you
you just don’t in this podcast and my youtube channel
and my blog are just not for you we go slow we’re patient we do things the
right way why because nobody else does and many of
you have been to those places and it didn’t help you one bit it only sets you
up to fail now how did I arrive at that 6 percent number well the American stock
market on average does just under 12 percent rate of return year after year
you need to be able to beat that because if you can’t your best move from an
investment strategy is just to put your money into the American stock market if
you can’t beat 12 percent a year just go do that I mean wait till the recession
happens first we’re very much overdue for one you know you I want you to get
in cheap as possible if you’re gonna go that route but in my opinion if you
can’t do that then it’s just not worth the time and effort until you actually
can I mean even if it takes you three four years to do it so what how much
longer do you plan on living you know 30 40 50 years it’s a very very small price
to pay and then once you do go real money start very small because I had
mentioned before psychologically it is a completely different game and you have
to get used to that first but hopefully for most of you we are a long time away
from that and you don’t even have to do what I say you can approach this channel
in the podcast in any way you choose but if you want a real blueprint for
absolute success this is what I recommend because let me tell you I
would have become a pro much sooner had I have done things this way all of those
blown accounts that I talked about probably would not have happened but
like a lot of you I got excited I got charged up I saw some success early and
I jumped into the pool way earlier than I supposed to now speaking of mistakes I
have been making mistake I think almost every podcast I have been asking you
guys to give the the podcast a like on iTunes and the reason why I did this is
because there is a one of my favorite podcasts from a while ago that isn’t
even on anymore at the very end would always say hey
give us a like on iTunes I don’t think they do that anymore and I’m not on
iTunes I’m on stitcher so I don’t really how that works but I don’t think likes
are a thing from what I’ve been gathering from people if you would if you’d be so
kind go and give me a review on iTunes those
things really go a long way and I’ve already had a few people ask me hey how
can I make sure this podcast keeps going do you have a patreon account is there
anything I can do and I’ve told them no just give me a like on iTunes which is
not even a thing apparently and by the way no I do not want your money I
believe Forex education should always be free I set this back in episode 2 and
the podcast and the YouTube channel and the blog are here to stay but a nice
quick review from you will go a long way into vaulting me ahead of some of the
Forex podcasts that aren’t even around anymore they are still ahead of me in
iTunes and probably will be until I get some reviews down so I will be more than
happy to keep these coming every single Monday if you just do that one thing for
me but regardless great new podcasts coming
in to you every single Monday so much cool stuff coming out on the youtube
channel and on the blog you can find it all at which is a
great place to go because everything’s right there in front of you and you can
just pick what you want to learn but whatever you do I wish you the best of
trading this week go out there and get it

79 thoughts on “How Long To Demo Trade Forex? (Podcast Episode 6)

  1. I've been on paper money for 6 months and tempted to go real in times but overall not profitable. I appreciate the information you are giving us, we need help. I thought of quitting many times, but i think is the passion for this that is not letting me quit. The frustration of not being good at something you love is just overwhelming. Don't let us down VP

  2. Hej VP. First of all i love your videos, i consider that they are really important for any (new) trader in his way of being a pro or just top loosing money, and P.s i started them from the top. I'm a newbie but i learn, watch at least 20-25 videos a day regarding the trading and get a lot of notes . I'm so happy that i've found this video with the best **** answer . Here is my question for you. I'm a paper trading for 3 months , and i start an account with 100.000 k .. but every time it seems too easy. I reset the account now the second time…because … well now my account is … 10 millions and 800 k ….I can make this amount really easy… maximum 2 months… Do you think i should start trading real money, or just follow the minimum 6 months ? My best regards.

  3. Prof. VP dropping major keys .. I’m new to forex I am 2 months in and only just started using my demo account last week. I’m glad I found this channel

  4. I know it is faith that I found your channel it is Wednesday and when the market opened on Sunday with crazy gaps i blew the hell out of my account I'm -375 on a live account. i was like its ok i'll make it back but for the last few days I've been in limbo looking for answers and the people I tried to reach out to before reply with one word answers or nothing i was just praying for a direction and i woke up to put on motivational speaker Eric Thomas and your video popped up next!!!! I've been binge watching your videos in order all day!!! Thank you so much even though i just started a few videos I already learned a lot and i am excited again to start this journey!!! Thank you you are appreciated

  5. Priceless information……why would anyone subscribe to anything else… would be noise and madness,like a virus in the system 🙂 who are the 2 idiots select thumbs down? Probably illiterate and impossible to learn

  6. So i have finally done something right , from last 6 months i have been doing demo trading and started with 5000 and now i have 300 of profit ….with max drawdown of 2.39% and max risk of 1.5% on each trade …and only 50 % win rate…but my RR ratio is usually greater than 1….
    But starting 2019…i will have my written trading plan having all my learnings and strategies that has worked for me and suited my style of trading and schedule…It is the only way to get consistent in this market.
    Thanx V.P.

  7. What do they say – takes 10,000 hours of focused practice done correctly to become an expert. Well I have a long way to go VP.

  8. Hello VP….great video with great information, I've been trading REAL money for nearly 2 years now, however I did trade a demo account for over a year. Glad I have found your channel I have looked at many of your videos and agree with you on all the crap others trainers put out there us to see. I'm a non nonsense trader (the less indicators the better) so your channel fixes right in with how I trade my Forex account. One thing that I have not been using is the ATR which I will be looking forward in using in the future. Currently up 51.74% started May 2017 with a small account. I'm at retirement age now and I'm ready to take my trading to the next level. Keep up the good work, looking forward to your next video.

  9. I am still trading with demo account, first account i started with 3000euro and i made 21K euro, i started other one 200 euro i mean i started with 3000 but i wanted to lose to set the account to 200 euro and start form that point and see until where i can go with 200 euro and i ended up to 2700 euro from 200 euro, all of them were scalping, but now as i learned to trade more currencies from you every combination i got my account up to 5030euro daily chart in one window and the other one scalpin in 1 min chart, and since i started with dialy trayding i am making alot of money, i am controlling my emotion i am stoping the losses as you said don't wait to come the price again up just close it and move to another trade and is working perfect, i am trading since 3 months now and your videos are making me so much better, i am working smart, having pattience but i know i have soooo soooo soo much more to learn, thank you and sorry for my horrible english.

  10. Hey man I have a question for you should you choose to accept it. When using colors on your platform what is the color that helps you the most?

  11. Hi, VP I started forex in October without knowing about your videos I only found you in January I think you know what happened with my message to you after doing all my mistakes I found and started listening to you I didn't do a demo account I did ask after your advice and was told they don't do demo accounts I am doing things very slowly I also was trading the 1 min,5 min and 15 min trades now I trade only daily I'm still not up on a lot of things but after listening to the videos and podcasts I feel not too bad when trading I only trade 0.05 and over the last 2 month my trades have been successfully 81% of the time but I'm still not ready and yet

  12. I guess companies like IML and such exist to put you on the wrong track. Is it possible that they're actually getting paid by the banks to do so? And sooner or later these guys all start out some signal service of some kind where you wonder why they don't just continue with their successful trading instead?

  13. it's great there's forextester that would have me teleported to the past and finish 12 month within a weekend 🙂

  14. I saw your videos yesterday. And i started from your "big banks" video up to this one. I will watch all your videos. Finally found you, finally a "Man" speaks truth. THANK U MR.VP 👍😉 I will be succesfull in forex with your methods not using bolinger bands, RSI or other stuff.

  15. If only I had found you before jumping in the deep end – your Podcasts and Videos hold great information which is so true, been burnt and totally see the sense in all of it – brilliant you spend time to educate others !

  16. Great Great Great all these podcasts and videos from the first one that I watched which was "BIG BANKS" LOL .. i am hooked and i believe learning from messiah of FX trading… keep them coming …… I need a demo account which will allow me to trade for more than a month without putting real money , any links please inbox thanks

  17. I know I should be focusing at work but I'm binge watching your podcasts 😂😂😂 finally someone who speaks the truth I was on a lil trading team and within a couple of videos I feel like ur my mentor now lol they couldn't even tell me how to make a great entry

  18. I have been trading for over 2 years, but in fact.. my numbers were not what i wanted it to be. So i started looking where i went wrong. Thx for sharing the value, even though you are American, it's not hyping. it's real and serious and that's how it should be when considering trading. Thx and i will share your content.

  19. Many brokers also offer cent accounts they allow the client to trade 1 cent per pip the min deposit is 5 or 10 usd. It's better than demo imo not all of them accept U.S. clients though.

  20. So – I am bancrupted 20 times in 11 years by every 6 months trading FX. 1 year I took a vacation 🙂 …. I feel it. but always something comes up to check and I am still in the game…

  21. I'm glad I watched this video, thanks mate. I have only just started on a demo account, i'm completely new; I am going through your videos, but I am also mixing it up and am currently doing an online course too – it's free also. It's so much to take in (Forex) and I had the assumption that If didn't understand certain indicators within 6 months, I might as-well quit. I don't know why I came to that assumption, but I did. But since I watched your videos, I am starting to understand that Forex is a marathon not a sprint; so I have loads of time to learn. I am taking notes etc aslo (I need too because I will forget otherwise lol). I respect and am great full for the amount of content you have and are still, currently uploading. Top man.

  22. I'm 23 years old and started trading 2 months ago. I'm glad I came across your youtube channel at the beginning of my journey.

  23. VP I am glad I found you… like I have been wasting my time and money before… thanks once again. please, I have a quick question which good broker can I use to here from Nigeria?

  24. is there a way to download all your podcast so i can watch them offline? i found a way but there was like over 40 videos..i like to go to the park and watch learning videos on my tablet but there is no wi fi there,,,

  25. Finally … a "No Nonsense" You Tube forum that doesn't use bullshit, doesn't tell you everything that you want to hear (that isn't actually ever gonna happen), and makes a whole lot of common sense.
    This VP guy's start to trading Forex virtually mirrors my own, so what he has to say has really grabbed my attention.

  26. Bud, You have no idea how thankful iam for making these videos, after months of bs videos, and months of unsuccessful trades you're like damn, JUST THANK YOU!! I EVEN TOOK NOTES! ON A JOURNAL something I woulnt do on my free time and I did it!! And worth it!!

  27. I will take my time, step by step. I Will be set up for success because of "you". Itune review……done! VP, you are my VIP. 👌🏽👌🏽👌🏽👌🏽

  28. I have learned a lot from you.
    I had a bunch of questions, you have been answering them in the podcasts.
    Thank you.

  29. You're cool, VP. I trade commodity futures, but I also think about switching to forex after your videos! Keep making this great content. PS Hello from Russia.

  30. Great teacher and the best I’ve seen the truth nothing but the truth, forex was created to take your money what like 3% of traders are true winners over years of trading. Listen up this guy is Awesome at Trading. I’ve studied it from every angle from first when computer trading came out, few very few will consistently win the system over time.

  31. The prop firm I want to join wants 9% target to trade a 10k live account.

    Couldn't I just trade a demo with a 9% target then repeat with live capital to confirm I can trade a live account before applying for the firm?

  32. Isn't there more "learning potential" in using real money earlier – but perhaps in smaller quantities? A burnt child learns not to touch the hot casserole real quick, after all.

  33. I don’t think you know how much you’ve already changed my life. Even if I’m never profitable (which I will be) I’m grateful for people like you. I’m doing everything just as you have lined it up, I will trust you 100% but also go further beyond what you produce and provide so I can develop my own strategies. When I reach a level of proficiency, I will do something for you. Idk what it is, but I will!!! Thank you VP. Thanks Patrick!!

  34. We don't all need trading psychology. I write programs to trade for me and luckily they have no emotions. I even have a decent strategy for trading Ethereum, and when I try to do it by hand it's difficult because I always get urges to improvise. It's also difficult because I would have to sit around 24/7 staring at charts, and when the movements happen which I need to get in on, it happens fast. So basically have to be 100% focused at all times. Screw that. I'm basically on this channel to find the best way to program a forex bot. Kind of like the EA's you guys talk about, which I played around with last year, but i'll probably just stick with my python trader.

  35. Imo it is better to forward test with a small live account and trade at minimal risk. – for newbies to get used to the psychological elements of trading.
    I think risking about 3 to 5 $ per trade should not be financially damaging.

  36. I have completed my very own No Nonsense Algo! I am now going back and re watching the older ones. I am actually more impressed now than I was when I first started. The planning you did and the way you rolled it out is amazing!

  37. I know I’m late but do you still want beginners to watch 3-13 of your podcasts first. Or do u want us to go further ?

  38. (sorry mis heard you sad 50k to 53k., I think this is quite low profit but probably you know better.)

    (Original message)
    Maybe I'm confused or don't understand it but how do you get from a 15k account to 50k with just 6% profit in six months?
    In an other episode you say 100k only will get 120k in one year best?

  39. I made my algo and started paper trading 2 weeks ago. I'm up $400 on a $10.000 account but I will admit I didn't have my money management in order. Most likely more luck than actual skills.

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