Don't start with real money!

omg a vendor!!! oppress oppress!!!!!!!

I disagree

True, a demo account should be used to learn what buttons to push on the platform but any other trading practice should be done with real money.

The detachment you feel when you lose on a demo is really teaching you nothing.

I traded on a demo platform to learn to trade, you think you have the skills to identify patterns and discipline to keep your losses small but once real money is involved suddenly losing in a trade becomes a financial loss ... the proverbial fan is hit with the proverbial excrement
 
No it's not. Just trade smaller than you intend to, important thing is you should use real money ASAP.
 
Jason101 said:
What a cr@p post. The link is just an add. Move on, nothing to see here.

Ps. I take back my warm welcome on your other thread.
Click to expand...

:LOL:

You know, I didn't even notice the vendor badge on the other thread. Maybe I need my eyes checked :)

Peter
 
don't be afraid to try until, you succeed. experience is the best teacher so, if you failed on first. you can try again. :)
 
daroth said:
thats i bit rude!:whistling
Click to expand...

You are right, I have let myself down, I shall try again.

I think the vendor is right in that before trading live you can back test a strategy for free and forward test on a demo for free, which may help some people. Although there is no substitute to live trading, it does give you a feel for the market and your strategy for some people.

But I feel the vendors link was just a very cheap, transparent and poor Segway to his site he is promoting. With no real thought to the reader and only a thought for his own interests and what he has to sell. I am sorry if I was a bit blunt, but to spell out my feelings for such poor posts time and time again from vendors becomes a little tedious.

I firmly believe that lazy vendor posts degrade the value of this site.

Yours sincerely

Jason
 
Bint_Crusher said:
Start small then move on to bigger things. This is what most women learn at the beginning.
Click to expand...

I think there needs to be a sticky thread on the differences between demos and live trading (like getting fills) so that posts like this don't claim any victims.........
 
Demo accounts can be a very good "computer game" in their own right, don't forget the entertainment factor. And this is not a flippant post. Many people would find it an absorbing pastime for its own sake without the need to have real money being traded.

I'm suprised no games sellers have ever thought of "Wall St Trader" as a game but with live inputs in real time. They could have High School trading competitions for the business students, even a National competition.

The learning experience would be so broad based because the students would have to take in so many factors. For a lot of retired people it would be good too. They have the experience and time but not necessarily the money.
 
on-a-run said:
Demo accounts can be a very good "computer game" in their own right, don't forget the entertainment factor. And this is not a flippant post. Many people would find it an absorbing pastime for its own sake without the need to have real money being traded.

I'm suprised no games sellers have ever thought of "Wall St Trader" as a game but with live inputs in real time. They could have High School trading competitions for the business students, even a National competition.

The learning experience would be so broad based because the students would have to take in so many factors. For a lot of retired people it would be good too. They have the experience and time but not necessarily the money.
Click to expand...
This concept has been around for some time. I can remember doing a paper trade exercise for a few weeks during a college module in the 80s.
:smart::smart::smart::smart::smart::smart::smart:
 
Do research on your choice of Broker, then Demo THAT platform that you would use with real cash.

If you cant be CONSISTANT with fake money, you are no-where ready to put hard earned Funds on the line.

I trade Oanda, so I Demo'd Oanda. Oanda is a bit differant then other MT4, as in Action..

MT4 Platform is same thru all, but Numbers and movement isnt really, thats what I learned..

When I started, My mission was to be perfect. And practice makes perfect.

Demo is a great practice setting..

Start with a Real Life balance amount. If you only intend to deposit $500, start with $500 demo balance.

Once your CONSISTANT with your Strat, ( entry/Exits ) then move to Money management.

Concentrate on PIPS, NOT MONEY Amounts.

My goal is to clear 100 pips a day, and I didnt start real trading till I got 100 Demo Pips, CONSISTANTLY.

I even made a acubus for my Pips, with 100 beads. When I hit my goal and slide all of my beads, Im done for the day..

You can drive alllll you want in a parking lot, but when you hit the real street, its a differant game.

Get your strat down to perfection, then test it out once your CONSISTANT with it.

If your not hitting at least 80% of your trades, and not in Profit, then you must continue Demo.

Its common sense, Dont fall Victim to YOUR EGO, Get your Practice, and get as perfect as you can before going Real Money..

I finished Friday session on a 74 win streak,

74-0
162 pips

Weekly,

421- 8

Those 8 losses, 7 were PC Lag delays and 1 loss was just to end the day Tuesday, because I seen ruff waters, and just wanted to end the day, still finsihed the day with 107 pips.

Im hitting 98% CONSISTANTLY, and thats averageing about 60-70 trades a day.

I also expect 98% to think im full of **** too, but hey, Im just tellin you my Journey and experiance..

DEMO FIRST, TILL CONSISTANT, Dont be a fool and give the sharks the bait they are waiting for.
 
I think that until you trade real money you are not really trading because much (maybe 90%) of trading is about the psychological challenge and emotion that only comes to the surface when real money is at risk.
 
Play trading in a competitive scenario can still be challenging. That was the point of my previous post. The whole thing can fulfil many people's intellectual needs without actually putting real money into the equation.
Many people say things like "I only trade with small change" meaning to me there is more to be gained from the process than just attempting to make money.
 
Let me summarize:

You haven't traded until you feel that feeling of "OMFG" as you ponder with bated breath and perspiration dripping down your face, "Should I enter this one and risk losing my 5$?"

Demo accounts - great for familiarizing the system. Getting the hang of reading, looking, finding, perhaps a bit of analyzing, and the routine of trading, but it's a bit like playing Monopoly. You lost 1,000$, "Aw, shucks".

What's going to happen if you don't have the testicular formations to lose 1,000$ in real Benjamin Franklins?
 
on-a-run said:
Many people say things like "I only trade with small change" meaning to me there is more to be gained from the process than just attempting to make money.
Click to expand...

There isn't. The only reason to trade is to make money.
 
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