i’m trading on a micro account, so that i’ll get the feel of going live in forex. but i’m so much dissapointed with my trade results because it seems as if it’s a total different ballgame altogether with a demo trade. Actually i analyze my trades using adx,cci,rsi,atr,5/10 ema and pivot points ploted on an hour chart of the major currency pairs. i build my trading rules on these indicators and it has been on a good move while on demo. but i used the same rules on live and found out that the market immediately reverses against me on my point of entrance and get me stopped out as if there’s someone behind the market that always controls the market against me. this issue have happened like up to five good times.
besides, i do think that may be, i’ve entered the trade when the trend is peaking. so how can i get to know when a trend is about to reverse? OR if that’s not the issue, let someone put me through.
simple more practise and experience and you will see there is no difference between live and demo - other than your own self as for trend - also trying to bottom pick or top pick is not an easy task - it is much more simpler and efficient to follow the trend…perhaps your stops are too tight - more practise
Ah, I know this one.
I do not know what your system is, but you are entering a trend or something, and you are entering it far too late.
As a result, thousands of other traders have also gone in your direction and the big boys have reversed the price action to take out all the stops!!
The solution is that you need to get in a lot earlier.
Revise and/or abandon your strategy.
Since you are new here, I would advise you not to invent your own strategy but rather pick one that is on this forum.
They are proven to work and help is close at hand if you have any problems.
Testing your own strategy requires a lot of work.
I had similar issues the first few days I was trading. I lost a bit then started following phil38’s strategy and I have increased my account almost 25% in four weeks. He has a thread in the “holy grail” section with a free ebook, check it out. Good luck!
Another thing which might be affecting your results, even if you’re unaware of it, is the psychological change that appears as soon as real money is involved.
Real money brings fear and greed and as a result ones decisions are worse than they were in demo.
After more than a year learning this business I’ve come to the conclusion that the state of mind/psychology is the difference between the successful trader and the constant loser.
Only when we develop faith in ourselves and the method/system we use can we make calm and correct decisions.
A demo is just a video game with endless “game over - would you like to play again - push A button”, real money is the real thing and game over stays game over. Scary huh
Master that, make sure you’re trading a sound strategy (was it a fluke it just happened to make money during your demo period? Did you manually back test it as far back as you could?) and I’m sure you’ll be fine.
How long did you trade this system on a demo account? It might be that you just didn’t give it enough time to really put it through it’s paces.
sometime ya can have too many indicators m8 ema macd and so on keep it simple i only use 2 stoch and bol at defaults thats it dead simple system on 4 hr seams ta work on most frames when candles hit top band and stoch in overbought hittin 80 then i sell or go short . then to buy or go long wait till candle hits the bottom band and stoch is in 20 then buy it that simple am not greedy 20 or 30 pips and im out or just keep moving ya stop it dont need ta be hard my motto kip it very simple thats the key and i only trade gbp/use thats it:D:D the system works very well…