Demo Trading Journal $500 to $1000

I am going to be posting my demo trades until I open my live account. I am going to see how long it takes me to double my money.

Balance $520.85

Great idea and Good Luck. Maybe you can share your strategy, it not only helps people who are going to follow you but it helps you as well

Definitely give us a briefing on your trading plan and strategy. I doubled my demo in about a week with 1 very risky trade but that means nothing.

[B]Pips[/B]: 271
[B]Profit:[/B] 22.28
[B]Orders[/B]: 4 wins 0 losses

My main goal is to stay consistent with my wins build confidence when i switch over to live trading.

Nice. Looks like you’re up heh :smiley:

Wow, you’ve gained an average of 26% per trade for just 4 trades… What’s your risk profile like? What percentage of your account do you risk per trade?

Wow your trading 0.15 lots and your not even making $1 that is less then 1 pip .

You know if. You open 4 trade of 0.15 lots if the market move 100 pips ageist you … You have just blown out your whole account .


Your profit is $22 not $522


Your profit is $22 not $522[/QUOTE]

Which is 4.4%

Could be me Billy, as I’ve just rolled out of bed. But if he’s trading 0.01 lots (as indicated on the last two trades) then he’d not be making $1 on these trades (buy @ 97.069/ sell @ 97.117 and buy @ 97.135/ sell @ 97.219) but more than 1 pip wouldn’t you agree?

To the OP, I’d have to agree with Billy. On a $500 account, keep your lot sizing in Micro lots (0.01) as you have with your last two trades. Using Billy’s analysis, even with Micro lots… 0.01 x 4 x 100 pips would be 12% of your account. Too much risk on any single trade.

Pips: 396
Profit: 41.03
Orders: 9 wins 0 losses

Today was a good day trading demo account. I buy low & sell high.

0.15 lots? Oh well, we tried. :20: Think your still confusing pipettes with pips though! :smiley:

I don’t understand your statement. Can you please explain?

Lot size, post 7 & 10. Looking at your trades it would appear that its not 396 pips? I think your MT4 platform might well express it in terms of pips but (as your trading in ‘mini lots’) perhaps its pipettes i.e. 1/10th of a pip. :33: Very difficult to read your screenshot but I’m guessing 39.6 pips?

I am a beginner at trading the forex markets please excuse my ignorance. Correct me if i am wrong. This is how i came up with 396 pips. I added all the pips I made in all my orders/trades. So for my last order/trade I made a profit of $1.20 I Entered audusd @0.89437 and Exited @0.89429 so that’s 8 pips I made on that trade. 8X0.15=$1.20

No, eight tenths of a pip (your reading to five decimal places… 1/10th of a pip). 1 standard lot = $10 a pip (expressed as 1.0 lot). 1 Mini lot = $1 a pip (expressed as 0.1 lot). 1 micro lot = $0.10 a pip. (expressed as 0.01 lot) See What is a Forex Lot? You are trading 1.5 mini lot. So it looks like your trades are in very short duration (scalping)? If I’m wrong, apologies! :60: Can I suggest you might post a link to your next screenshot, so we can enlarge for better reading?

There’s no ignorance about it. This is why it’s such a great idea to do what you’re are doing. I hope you keep posting and listen to RCarter he’s right. I learned with pips when I went live I trade now in fractional pips (pipettes) takes a little bit to get use to but it’s a lot better.

Indeed he is confusing pips with pipettes. To the OP, I don’t want to tell you to change something that works for you, but in my opinion you would risk too much per single trade (as has been stated before me). Since this is a demo account and you are not trading you don’t risk anything at all, but if you ever decide to trade I would recommend reducing your risk per trade especially since you are a new trader.

mmmm only good thing , he is only trading 1 pair at a time , but that still too high

also , have a look at your Balance … profit… bottom left of mt4

the bottom of the trade
sell AUD/USD @ 0.89437 close @ 0.89429 is only different 0.00008 X 0.15 lot = $1.20

the red is pips ,

just a side note , if you held that trade for 2 hour , the trade was wrong and moved up to 29 pips or in your case 290 pipettes

you would of lost $47.85

can you see what we mean your risking too much

I understand Thank You. Can someone point me in the right direction on where i can download a indicator for MT4 where it color shades the forex sessions?