fxwinner22
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thought you were retiring Linda?
NEVER LOSE AGAIN!! TheRumpledOne
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Trader333
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Bunny,
You have me confused saying this ?
If you follow someone using demo then the trades are not real and therefore don't count in my view. Also one of the key issues with demo based results is that when a trade is entered it is usually at the last traded price and the same for exit. In reality this would not happen and it is more likely that for (say a Buy trade) entry price would be at the Ask and exit price would be at the Bid. When using direct access this would still reduce profits by at least 2 pips per trade and probably more. For anyone using spread betting the additional cost would be much higher.
In my view this is one of the main reasons why those who make profits on demo accounts lose when they trade for real. So why is it that you would prefer to follow someone using demo ?
Paul
You have me confused saying this ?
If you follow someone using demo then the trades are not real and therefore don't count in my view. Also one of the key issues with demo based results is that when a trade is entered it is usually at the last traded price and the same for exit. In reality this would not happen and it is more likely that for (say a Buy trade) entry price would be at the Ask and exit price would be at the Bid. When using direct access this would still reduce profits by at least 2 pips per trade and probably more. For anyone using spread betting the additional cost would be much higher.
In my view this is one of the main reasons why those who make profits on demo accounts lose when they trade for real. So why is it that you would prefer to follow someone using demo ?
Paul
fxwinner22
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hi zup, hows things in malta?
zupcon
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been staying mostly in the UK this year sorting out some stuff, but busy as usual, hows tricks with yer good self ?
JTrader
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Also, the novice trader is more likely to break/bend their own rules (and also cheat themselves in the process) when demo trading.
Demo trading is good, but at some point if you believe in what you are doing, & demo results are good, you need to start playing with real money.
As far as the horizontal lines go - I would be in no rush to make the transition from virtual to real trading, because i think you'll (not you T333
) struggle tremendously to achieve consistency. You will struggle to find consistency because the system is not based on logic, but on a random entry trigger. Price is driven by supply and demand. Supply and demand causes resistance and support. This is how markets work - PERIOD!
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The short at 1.2524 is still running...currently in profit at +10 pips
The new hour opened at 1.2512 no entry so far, so now I can move the stop down on the open trade to 1.2528 ( just above the buy line for this hour) for a max -4 loss if seen
Bunny
The new hour opened at 1.2512 no entry so far, so now I can move the stop down on the open trade to 1.2528 ( just above the buy line for this hour) for a max -4 loss if seen
Bunny
To be fair to TRO and his system the short at 1.2524 was in profit of 13 pips. It was my personal choice to hold for a bigger target. Maybe I should run both alongside each other to see which comes off best...i.e the scalping as TRO suggests or the attemp at target as I do.
Bunny
Bunny
A possible target to the upside could be the old hourly trendline at 1.2584
Time Will Tell
If I was a scalper I could have grabbed 7 pips here at 1.2535 (10 pips if you had got in at 1.2525 as TRO suggests, but I feel more comfortable getting in when the BID price crosses the line so that my chart shows the price crossing)
Bunny
Bunny
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fxwinner22
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excellent thanks, still trading but on longer horizons. Now full time in the radio business as sales director. I'm actually happier now rather than stuck in front of a screen all day - getting out, excercise, socialising etc. Real life rather than this artificial crap where bull**** is the common language. (mind you, so is sales often lol) strange thing is that by not watching trades i'm making more money - just letting them run and leaving em alone.
Nice to know you're still around.
