A newbie question

Now basically i just started to learn about forex about 4 months ago and am still learning cause you really can never have enough about it but what i came to ask today is if we just ignore the risk management and i know it’d be reckless but i’ve been trading 100$ demo accounts with 1:3000 leverage which is insane but i challenged myself to make 10 accounts not less than 2000$ each one in a day and what i came to was 1000$ on 5 and lost the 100$ in the other 5 so what am asking here is: Is it possible with the right training to make 500-1000$ from a 100$ in less than a day like i did but in real or is this just some demo hoax?

Thankyou.

Have you finished the preschool level as a best part of learning?

I guess yea :joy:

But seriously i just need some explanation about how i make 400-1000$ from a 100 deposit in hours like what is this cause from what i read off of people is that 10 bucks off of 1000$ is kinda hard

hi am samuel just wanted to confirm if the flat formation from elliott wave theory and the double bottom formations are the same

poopedchart,
It is possible with the right training to make $500 - $1000 from a $100 account but it will take rock solid discipline, laser like consistency, and patient like Spoke from Star Trek or Yoda from Star Wars. You would also be getting into a market that is basically “one” with your system. The reason that you most likely were able to do it in a demo account is the emotion that is felt with the actually loss of what you risked. Risking demo money is a lot different then risking regular money.

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Theoretically you can. But it’s absurdly unrealistic to think you can do it everyday. If you can multiply your capital by 10x per day, you’ll be the greatest trader in history.

To put it in perspective, making $1 from $100 per day is damn good, let alone $1000.

I don’t think 4 months learning can be sufficient. And in practice session I personally think working with such excessive leverage can make you more dreamy than realistic. Try to set realistic goals and go for it which you will actually implement in your real money trading.

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Well basically i use 100$ because i am gonna use 100$ when i deposit live but what am trying to state here is that the sum of talking people do where they say trading is hard and trading is not hard all i see there is if i keep reading posts on forums am eventually gonna quit trading because well for example making $1 from 100 a day isn’t damn good people believe that forex could be a stable no loss risk 1% of your capital kind of job but instead i don’t believe that’s it.

I made $500+ on 5 accounts of $100 trading 1 lot no more some times 2 lots but that is when am just really sure of the chart and having some fun using GBPJPY studying the chart loving it and i use the $100 as if they’re mine but the difference between me and people no offense is that if i lose the whole 100 in like a minute because something happened wrong i won’t be mad because that is the introduction when you come to learn forex stating that it’s that big of a risk

So what am just asking here for an answer to is this = is it the same what am doing in demo can be done in live or am i just living in some broker made hoax because i tested this in more than one broker risking 50 to 80% of my capital to make 300 500%+ and i did and i don’t mean to use that in my daily use but am just asking because i haven’t seen anyone doing this all i see is people using 1% and keep losing 1% till they quit after 3 years of forex because they didn’t make money and they lost maybe near all their capital.

Thankyou.

2 lots on a $100 account? I don’t see how you’ll be able to do that, probably get a margin call just from the spread, slippage and commission. What leverage have you got?

I wouldn’t say it’s not possible, it’s just not probable. A small move in the wrong direction and you get a margin call.

like i said 2 lots is just a crazy call i make for fun no more probably will not do it live.
am using a 1:3000 leverage which is insane as well and goes up to 1:1000 till $5000 then goes down to 1:500
and i use 1 to .50 lots making sure calls only = making 500$ in 4 to 8 hours of continuous trading
Spread on GBPJPY is like 21 and commission is 0$ that’s what they stated on their website

Even 0.5 lots on $100 is too much and just a gamble. 0.1 lots is a lot for an account that size.

I blew a £1000 account in 3 days with lot sizes of 1 and doing what you’re doing. I didn’t set out to do that, but I was bored and thought it would be fun. Turns out losing money quickly isn’t that much fun.

Like I said, it’s not impossible that you will make money, but very unlikely. You should probably consider this; if a broker gives you 1:3000 leverage, what is their incentive? Why give you the chance to make huge amounts of money from them with a tiny investment? Because almost everybody that uses that leverage gives all of their money to the broker quickly.

Anyways, keep us updated with how you get on. Always interesting to see an aggressive account (except my own haha)

Well as i said i made calls on GBPJPY as it has lots of trends going on the 1m chart and am really just planning on using 0.5+ lots when it comes to live and to be honest tho sometimes i really just ignore reading the charts and do a 2 lot and lose 500$ in like 5-10 minutes so as i chose to trade like this i know how risky and dangerous it can be so basically you lost 1000$ in 3 days as you thought it would be fun but it really isn’t i sometimes stare at the charts opening and closing deals for like 4-6 hours straight before i have any rest of any kind and when i joke off for 5 mins i start losing hard cause well the 1min charts are just well lets put it as playful they like to move alot and fast but well i do get rewarded with a 500$ for the hard work but i remember its just a demo lol.

They give you a 1:3000 leverage till $200 then 1:2000 and 1:1000 so on till $5000 then its 1:500 which is the normal.

Now if it’s really demo equal to the live and there is no difference then am gonna be posting my portofolio here and building a capital from 100$ which everyone states is impossible and freak out when they read this post but i will try my best and even if i lose them under any circumstance either a huge drop or top in the price i will keep on trading this way and will not give up but also having a good money management is required.

I just hope the broker doesn’t go flipping my trades because i scalp lol.

When it comes to trading for real, it’s not really a matter of the demo being a hoax, it’s just that the money has no value. Once it comes to real trading, suddenly that money has value, losses aren’t taken so easily all of a sudden. No matter how good your analysis is, you’ll find your performance decreasing slightly. It’s a matter of traders’ psychology! :slight_smile:

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Well I’ve been trading the money as if it was real and ofcourse it won’t measure up to the live even if i do that but lets say i feel 70 to 80% that the money is real plus I’ve been studying lets say myself so hard even before forex always been trying to improve in psychological state

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Just for my own knowledge, are you day-trading/scalping or do you hold over-night? Do you get in to follow the trend or take the opposite direction on a reversal?

I guess what am doing here is called scalping as i read the 1 min chart and not more than the 30 min chart.

I basically keep trading following the trend in the 1 min chart i sell high close low buy low close high lots of trades happen in a low amount of time and sometimes i know that the chart is going downwards or upwards and open a trade of 2 lots with a 200$ account ride the wave and close at +50 pips and tbh sometimes i get greedy or what you can call overconfident and keep holding until i lose all my balance which is what am training on right now.

i follow the trend and i need patience lots of it i mean ppl get in the scalping to avoid waiting days for profit but you need that 1 to 6 hour kind of patience

Thanks poopedchart.
Do you set a stop-loss or just watch for a manual exit if the trade goes against you?

Maybe other new traders trade similarly?

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Well my eyes typically burn from continuous watching because i tend to manually stop as the S/L in this situation just makes you lose from my experience of what am doing.

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listen to this bro… just one rule for you sir…
WHAT YOU WONT TRY DURING LIVE ACCOUNT DONT DO IT IN A DEMO…
the business controls the emotions… you are calm now bc its a demo… believe me on a live account, YOU WILL NOT BE CALM AND FOCUSED…
except maybe you have money to throw around and keep making brokers rich… you can continue what ever it is you are doing… BUT JUST NOT THIS… WHAT YOU ARE DOING IS POSSIBLE IN LIVE ACCOUNT BUT your trading can not be that right all the time hence, will come a time you will surely blow up your account eventually…
SO JUST TRADE MODERATELY AND EARN SENSIBLY LITTLE BY LITTLE…

Won’t hurt to try if it’s possible and I’ve completely detached my emotions from money because ive been doing that not in trading but in my daily life.

So i won’t keep making brokers rich i am just trying to think outside the closed traders box.

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