Day Trading & Forex Forum

Beria

Hi

Have just started trading on the metatrader demo the last few days on a £5000 capital base. My first day proft was £801.23. My second day profit was £472.87 and today i made a whopping £2012.03 profit.

These are great numbers but i am suspicious. If it is so easy, why do so many people lose money? How realistic is the demo account? What have other newbie traders experience been regarding early trades?

alan5616

The differences between trading a demo account and a live account are huge. One of the essential ingredients of trading a live account is money management and controlling risk. Something which is not a consideration when trading in demo mode.

One of the hardest things to do, when trading live, is to leave your emotions away from your trading environment. In the early stages of trading live, many people (including myself) have found this one of the most difficult challenges.

My advice would be to start with a small size live account and sample the experience of doing it for real.

Yoshie

I tripled my account in 3 days on the demo using 1:50; when it I went live i sure im not trippling my account that quick

on demon there is no fear of losing money but on live its a whole different story seeing your trade going negative even if its tempory can be nerve wrecking unlike demo

yuapanda

As stated, the biggest danger in the real world is yourself.

But also keep in mind things like execution times. Demo accounts will usually execute trades immediatly, whereas in the real world there may be seconds of delay with leading slippage.

new_trader

How many losing trades did you have on those days? It is easy to keep entering and entering until you fluke a profit when the money is not real.

Is this the top? I will try a short...nope...that wasn't the top...I'll try again....and again...and again...ahh...this is the top...now just hold until it hits bottom....look I made £801.23 profit...simples

__________________
"It always pays a man to be right at the right time."
-Jesse Livermore

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N.B: Most of my views, advice and opinions are based on short-term trading.
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GCC

We can't make any comment because it doesn't matter how much you make but HOW you make it. How many trades? How large was the leverage? Which market(s)? Entry strategy? Tell us more and we will tell whether we've found a trading genius

__________________
Google for "Ganglion's Trading Blog" and you will find my blog!

shadowninja

What they all said!

I take it you're with Alpari? Deposit £100 and use 0.01 lots. Learn about money management and risk management.

__________________


The markets can stay solvent longer than you can stay irrational.


Check out my blog if you're new to trading or skip the advice and obtain fame and riches beyond your wildest dreams the easy way but you might end up a bit like this.

Beria

Hi

Thanks for the responces. Here is a details breakdown of my results so far:

2009.06.24 18:23 /buy /4.00 /price /934.15/ 2009.06.24/ 18:25/ close prce 934.60 /profit 109.44

2009.06.24 19:30 /sell /4.00 /933.70 / 2009.06.24 /20:56 /930.85/profit 694.45

2009.06.26 11:06/ buy /4.00 944.85 /2009.06.26 /11:44 /945.10/profit 60.62

2009.06.26 11:47 sell 4.00 xauusd 945.10 2009.06.26 13:24 945.05 profit 12.14

2009.06.26 13:25 buy 4.00 xauusd 944.95 2009.06.26 13:32 946.60 profit 400.65

2009.06.29 12:17 sell 4.00 gbpusd 1.65380 2009.06.29 12:40 1.65290 profit 217.80

2009.06.29 12:16 sell 4.00 gbpusd 1.65428 2009.06.29 15:38 1.65307 profit 292.79

2009.06.29 12:41 sell 4.00 gbpusd 1.65201 2009.06.29 15:52 1.65149 profit 125.95

2009.06.29 12:51 buy 4.00 gbpusd 1.65303 2009.06.29 12:58 1.65421 profit 285.33

2009.06.29 12:59 sell 4.00 gbpusd 1.65431 2009.06.29 15:39 1.65308/ profit 297.63

2009.06.29 13:26 buy 4.00 gbpusd 1.65498 2009.06.29 13:27 1.65527 profit 70.08

2009.06.29 13:31 sell 4.00 gbpusd 1.65638 2009.06.29 15:03 1.65363 /profit 665.20

Total profits so far: £3 233.83

Have made no losses on my trades the far, have omited the first two as i was only playing profits on these were 88 and 87 pense respectively.

My system has been short-term and highly risky - i do not do stop loss. Have put considerable margin - 4 for most of my trades.

Have analyised the charts, attempting to buy if i think its going up and shorting if i think its going down. Some have been more successful than others, but generally i have been proven right so far. Prepared to wait for my system to pay off, which means i can look at major losses for a while.

I think that i could pursue on the real version a risky strategy but i need to start thinking of risk management first. Any tips?

regards

Beria