500$account live as a Demo

Hi Carrnell good morning! Sorry late reply
I’m just using stop loss 1% of my account sometimes didn’t reach the support and resistance.Thanks for a good advice.

Hi laughingCharlie,
Sorry late reply! Good morning! Thats what I am planning to back to demo again cause seems like my knowledge and strategy is not good enough. I did loss and won on that demo before.

Well I’m not drinking so I can’t relate on that but I am really trying hard my best to be discipline just one time I did not discipline. I am using H1 TF too. Thank you for a nice words it helps my understanding well.

Yeah thats a nice adea. I will make a demo account again and learn more. Thanks for responding and giving some advices.

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Do you use fixed Stop Loss ? Using Fixed stop loss is a problem! You have to set your stop loss position according to the market context! You can use buffering system (few more pips in order to your analysis) on Stop Loss and Take Profit trading tool.

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Hi Peter_Slide
Yes I do then its a tight stop loss so when one or two candle stick against on me its going to hit my SL. Now I’m back to my demo account and test more and have a break for a little while in live.
What do you mean “buffering system” I never heard that before?

Hi Charlie, were you replying to me? I can’t see where I advised to risk more :confused:

I give you just one simple TIP…
Identify trend using moving averages in any TF.
Wait for 61.8 % counter trend move (retracement/pullback), then take your position along the trend with sl jist 10-15 pips above/below last swing high/low… use fibo extension 100% or 127.2 % or higher (or trailing sl), its up to you.
by using this method you will win min 70% of your trades…

I am new user I can’t load images. if you wish I can send you through your email…

Hi najibmalik! Thanks for the advice. I will try that in my demo if it works on me. I’m in the good track now I’m trying to be discipline and patient again. I know after a lot of straight losses I’m kinda lost inin the good way, Now I’m saying on my self that I can do it! :slight_smile:

Your stop is too close… The market has to breath and if you are too close to this natural rhythm of the market your stop is hit. Try having a stop of 2 times average true range
Barry

Hi bazzyboots! Yes you are right my stop loss is too tight, Im using 2% now

Guys thank you for all the advices, now I’m kinda slowly back my losses. I’m back in my live 3days ago seems like just need rest for a little while in my live after losses.

In this case, you can use buffer strategy; means use few pips more in your SL, like if your analysis says you 15 pips SL, than make it around 18 pips!

I sense a lot of FEAR in your writings. My advice is play around with 10%, 30% and 100% full margin of your account even.You need to let go of your fear. When you think you are right! Go All in!

You have to keep dying. Willed yourself back to life and keep trying. Otherwise, you will never learn anything. Within reasonable boundaries of course, I don’t want you to go live and bankrupt yourself.

Obviously something is wrong with your strategies if you keep getting stopped out more than 50% of the time. A coin flip have 50/50 odds. You are better off playing baccarat in a casino.

Go back to the drawing board and re-think your strategies.

Yes, it is. By and large newcomers are loser from here due to lacking accuracy of trading. but as a newcomer it is quite difficult to maintain real trading discipline, so it is more appropriate to keep learning with practicing trading.

I think this is already good idea, for me usually has tight stop loss but having target sometime larger than stop loss, with ratio at least 1:2 and sometime more, because like with trying use long term plan trading

Nice to see, you are on the right track! Always try to use higher profit ratio like 1:4, 1:5 and more! All the best!

I think are using tight stop loss and have not done your demo trading sincerely, dear you should work on demo account with applying all the strategies and then should restart the real trading for desirable results.

I will not support to invest $500 in live account to use just a practice account. You can do this work with cent accounts. You can do much practice on demo with maximum capital they offer. When you feel now you can treat live account go to real trading.

I agree. Start with a cent account. I don’t know what $500 means to you…probably it’s not a big deal but losing money simply because you can afford to lose it is not being wise.