whats your opinion?

[groovenator]

Just be careful trading a mechanical system, any good trader knows they need to know fundamentals, geopolitical news and they need to keep an eye on the stock market. I made 700 pips in 3 hours on one trade a few weeks ago because I was watching stock market prices.

[ironpips]

can you be my mentor? I was just reading some things right now. But I'm a complete newbee in this forex. I'm thinking mechanical system might and can pay off in the short run but in the long run I know I have to understand fundemental systems and everything you've just mentioned. What's your idea on the blogs, for pick of the day trades? To me they seem pretty accurate.

-IRONpips.

[genghisclown]

Originally Posted by groovenator

I think that all the people saying to trade a demo might be wrong. Chances are they are not real traders and they offer generic advice based on what they read on ebooks, blogs or other sites. I am just offering a different point of view.

I know for a fact most real traders will tell you that a DEMO gave them false confidence and in no way compares to real trading...

Uh... no. I think you're throwing the baby out with the bath water there, Hero.

A demo account is a tool. That's all it is. I've used one to learn my way around the interface I'll be using for live trading, and then I used it to test some generic ideas. I am harboring no illusions that things will be *exactly* the same when I go live. Let's get real. That would be stupid thinking anyway, since no two weeks' worth of trading is going to be exactly the same (demo or live).

I am now placing a small amount of real money into my live account. I'm going to use this amount to get a feel for the differences between the live action and what I learned trading the demo. I will use this period to test the system I am developing and make any necessary adjustments. When this second stage of testing is complete and I am comfortable trading with actual money, I will send the remainder of my investment capital and be on my merry way.

It is therefore my humble opinion that forgoing the demo trading entirely and/or urging someone to jump straight into the Forex with all of their capital is just as silly as assuming that demo trading will be *exactly* like the real McCoy. I learned a lot from demo trading. Not everything, but it is a great way to begin... as long as you realize it isn't the end of your Forex education.