First day trading a demo forex account

[bcc9274]

I tried trading demo accounts a couple of times. But it got boring after a few hours so I always stopped.

Today, I decided to try it as if I used real money. (I know about demo being different than real accounts. I mean it as in the time and effort I'm willing to put in.)

So far, I can say it's the most boring job in the world.

But my question is, how much do the results vary?

I'm posting my trades for today. Can you tell me if it's typical? Too bad? Too good? Lucky? Unlucky? Or normal/average?

Any advice?

Symbol	Amt	S/B	Open	Close	P/L	Gross P/L	Roll	Open Time	Close Time
EUR/JPY	10	S	117.695	117.637	5.8	6.52	0.00	1/26/2009 17:45	1/26/2009 18:01	
GBP/USD	10	S	1.40410	1.40020	39	39.00	0.00	1/26/2009 17:27	1/26/2009 18:01	
GBP/USD	10	S	1.39808	1.40020	-21.2	-21.20	-1.00	1/26/2009 16:40	1/26/2009 18:01	
EUR/USD	10	S	1.32194	1.32084	11	11.00	0.00	1/26/2009 17:19	1/26/2009 17:59	
USD/CHF	10	B	1.13637	1.13780	14.3	12.57	0.00	1/26/2009 15:42	1/26/2009 16:04	
EUR/CHF	10	B	1.49640	1.49858	21.8	19.10	0.00	1/26/2009 14:24	1/26/2009 15:03	
EUR/CHF	10	B	1.49966	1.49858	-10.8	-9.46	0.00	1/26/2009 13:48	1/26/2009 15:03	
GBP/CHF	10	B	1.58435	1.58945	51	44.69	0.00	1/26/2009 14:25	1/26/2009 14:50	
GBP/CHF	10	B	1.58872	1.58940	6.8	5.96	0.00	1/26/2009 13:54	1/26/2009 14:50	
EUR/JPY	10	B	116.689	116.916	22.7	25.47	0.00	1/26/2009 14:22	1/26/2009 14:49	
EUR/USD	10	S	1.31615	1.31579	3.6	3.60	0.00	1/26/2009 11:50	1/26/2009 11:59	
EUR/USD	10	S	1.31419	1.31231	18.8	18.80	0.00	1/26/2009 10:53	1/26/2009 11:13	
USD/CHF	10	B	1.14588	1.14667	7.9	6.89	0.00	1/26/2009 10:25	1/26/2009 10:45	
EUR/USD	10	S	1.31483	1.31296	18.7	18.70	0.00	1/26/2009 10:19	1/26/2009 10:45	
EUR/JPY	10	S	117.406	117.351	5.5	6.13	0.00	1/26/2009 10:18	1/26/2009 10:45	
EUR/JPY	10	B	114.299	114.515	21.6	24.33	0.00	1/26/2009 02:35	1/26/2009 02:43	
EUR/GBP	10	S	0.94853	0.94839	1.4	1.91	0.00	1/26/2009 02:14	1/26/2009 02:32	
USD/JPY	10	B	88.976	88.647	-32.9	-37.11	0.00	1/26/2009 01:31	1/26/2009 02:17	
USD/JPY	10	S	88.702	88.814	-11.2	-12.61	0.00	1/26/2009 01:57	1/26/2009 02:01	
USD/CHF	10	B	1.16063	1.16133	7	6.03	0.00	1/26/2009 01:43	1/26/2009 01:53	
GBP/JPY	10	B	120.855	120.925	7	7.87	0.00	1/26/2009 01:35	1/26/2009 01:48	
USD/CHF	10	B	1.16218	1.16006	-21.2	-18.27	0.00	1/26/2009 01:12	1/26/2009 01:43	
EUR/JPY	10	B	114.782	114.826	4.4	4.95	0.00	1/26/2009 01:18	1/26/2009 01:42	
EUR/GBP	10	S	0.95030	0.95012	1.8	2.46	0.00	1/26/2009 00:43	1/26/2009 00:57	
EUR/USD	10	S	1.29316	1.29234	8.2	8.20	0.00	1/26/2009 00:36	1/26/2009 00:40	
EUR/JPY	10	S	115.234	115.151	8.3	9.31	0.00	1/26/2009 00:35	1/26/2009 00:40	
Total	260		189.3	184.84	-1.00

 

[bansir]

I tried trading demo accounts a couple of times. But it got boring after a few hours so I always stopped.

Today, I decided to try it as if I used real money. (I know about demo being different than real accounts. I mean it as in the time and effort I'm willing to put in.)

So far, I can say it's the most boring job in the world.

But my question is, how much do the results vary?

I'm posting my trades for today. Can you tell me if it's typical? Too bad? Too good? Lucky? Unlucky? Or normal/average?

Any advice?

Hi bcc,
You came out with a nice profit so well done.
Also a good ratio of winning trades to losing trades.

I think your only real yard stick in this game is your own performance.

If I may be so bold, maybe you have one problem area ...

Looking at the numbers in the gross profit col.

your average win is 13.5 (283.49/21)
your average loss is -19.73 (-98.65/5)

Personally, I would be a bit happier with these the other way round ie. 19.73 av. win and -13.5 av. loss.
This may be the something to work on.

Maybe try and let your winners run a bit further?

On the other hand, if your strategy consistently throws up
4 winning trades for every losing trade you will be more than okay.


Anyway, best of luck.

Very Best Regards,
Neil

 

[bcc9274]

Maybe try and let your winners run a bit further?

I would love to. But who knows when is the best time to close
One one hand, you can keep a trade open and get more profit. On the other hard, it might reverse and you would end up losing.