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How long should I paper trade before using real money?

This depends on how fast a trader can learn and implement the trading strategies. The correct answer to this question is, “When the trader feels comfortable.”

I have had students that have paper traded for many months before trading with real money. There have been others that have only paper traded a few short weeks. It all depends on the individual student. Paper trading is an essential step in a trader’s education and should not be skipped.

To learn how to trade correctly, the student needs to practice on a live, trading simulator that offers actual prices and mimics lifelike executions. Many forex firms now offer free demos of their platforms. This is a great learning tool for serious up-and-coming traders. If after paper trading you feel that trading is not for you, the robot service is something you may want to consider.

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