I need advice.

fayalac

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I have almost two years trading forex.
At the beggining i was using demo accounts, at some time i felt confident and started with a real account. When i did i taugth i was the owner of the forex holy grial and i could make millions in short time, but real life showed me i was not prepared and i accumulated some losses during three months. I stopped using real money and went back to demo accounts.
When i went back to demo accounts i saw many mistakes i was making, of most of them i was warned by many members of these site, so with time and patience i have managed to turn my losses into profit, i insist into demo accounts. These has taken me about a year.
Actually i can account for six consecutive months making consistent profits ranking from 16.5% to 210% into a month, it depends on the markets behavior not to my risk exposure, i do not invest far than 1-2% of my availabilities at any time, well except when i find a good and sustained trend on which i can make some more profit.
My question is, in your experience, does these make me be ready to use real money again?, if you ask i feel confident, i have learned to manage my risks, i have found tools that fit good with me, i use intraday and i also have learned to accept when a bad entry was made.
Please be nice.
 
If you think that it wasn't luck, you have consistancy, money management and the ability to follow your strategy when real money is on the table - Then go live.

Are you trading a system or dicretionary?
 
Thanks.
I am trading discretionary, but supported on several trend indicators.
I can tell you it was not luck, since some months ago i have been supporting my desitions on those indicators with time frames 1 min., 15 min., 60 min., and daily, i just follow the trend according to those indicators.
I understand short time frames can led me to bad entrances, when i realize it was i simply assume the loss and go on.
At some moments i have followed a huntch ( luck ) and most of the times it ends bad for me, so i can say it is not luck and i am aware of the consequences of trading out of my strategy.
Thanks for your advice.
 
Wow there's a surprise, you were talking ******** on the other thread here.

Don't hold onto losses, you have to realise that losses are part of trading. If you wait months for your profit to come back you won't have the same amount of margin you would have if you were to take the loss.

Go small, risk less, practice on your entry so you don't have to hold onto losses.
 
I have almost two years trading forex.
At the beggining i was using demo accounts, at some time i felt confident and started with a real account. When i did i taugth i was the owner of the forex holy grial and i could make millions in short time, but real life showed me i was not prepared and i accumulated some losses during three months. I stopped using real money and went back to demo accounts.
When i went back to demo accounts i saw many mistakes i was making, of most of them i was warned by many members of these site, so with time and patience i have managed to turn my losses into profit, i insist into demo accounts. These has taken me about a year.
Actually i can account for six consecutive months making consistent profits ranking from 16.5% to 210% into a month, it depends on the markets behavior not to my risk exposure, i do not invest far than 1-2% of my availabilities at any time, well except when i find a good and sustained trend on which i can make some more profit.
My question is, in your experience, does these make me be ready to use real money again?, if you ask i feel confident, i have learned to manage my risks, i have found tools that fit good with me, i use intraday and i also have learned to accept when a bad entry was made.
Please be nice.


I converted a 100K account into 67 Million! - well it was a demo account
in demo i followed the rules, ie i did not snatch the profits
i had trades with 700+ pips profit

Real account - i rarely had 200 pips let alone 700 pips

so trading is about mental fitness
 
Thanks Phil.
I remember what i said yesterday. You are rigth to hold onto losses will make me have a lower margin i understand the concept, yesterday i keept thinking and despite the fact i "could" be rigth you are simply rigth, these last month i started sacrificing bad entries and i doubled the account.
Its not a race and that is why i differ from some members who say that you should target a profit, i cant do that!, i will simply take what the market has to offer, i guess that is what you mean.
Thanks for the advice.
 
Yes, it is mental. Any trading method should fit your attitude.
Thanks for the advice.
 
Thanks, That Is What I Am Doing. As You Said It Is Easier To Risk With A Demo Account Than A Real One, But After All It Can Be Profitable
 
fayalac, do you have a trading journal of your demo account? can you analyze each trade you made and have a clear understanding on why you took it, how you behaved (patient or impatient) as the trade evolved, did you stick to your rules? was your dragdown acceptable if you were trading real money?
If you feel relly understand each trade you made, use this understanding to feed confidence to your brain and go live! As you do it live the present do not think about the past or worry about the future, what happened cannot be changed and what has not happended may not happen.. when you trade with a PRESENT state of mind you feel the trade and your build up confidence keeps you on target .. wish you success because luck is for those who make it happen...
 
Hi sayaquira.
The answer to all your questions is yes, and the only one i can have for you is Thanks!, you are a wise man.
 
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