This was meant to be a ‘joke’ account to play with as I worked through the BabyPips school - but it’s like I just kept making money no matter what I did!
That was very impressive !!!
How long have you been trading ?
I guess it doesn’t really matter how much experience you have for certain people. As I see trading especially reading charts an art. It may sound pathetic for some but thats what I think. So for people who’s got the thing for trading it comes very naturally I guess. Though of course there’s a lot to learn besides just having that ability. And I’m not discounting the fact that there’re alot of technical aspects to trading as well.
Keep going! I’m going live next month. Hopefully I’ll do well :57:
Congrats on your results. However, as you are scalping (barely 100pips in 48 trades, avg 2pips per trade), are your stats talking into account effectively the commissions derived from the spreads?
There are many ways to trade the markets. If scalping works for you then go for it. I’m more about trading with the trend in long term moves, I mean swing trading.
Are you using an EA?
Edit: I just edit to add that even when scalping is not form me (manually) I´m thinking of some ideas to implement in a EA while I trade manually the trends.
I’ve been busy with work and school - missed out on some opportunities. Only had time for one trade yesterday but made a nice profit.
Weekly return: 16.2%
Monthly return: 87.9%
No trading tonight as I’m going out to play video games at my friend’s house. My Dad says I should go watch ‘The Wolf Of Wallstreet’ but I don’t know if it would really have much usable advice in the Forex world. Sometimes I feel like the best way to learn something is to just do it, and think about it as you do it. When you read a book, that knowledge can be good, but it can also limit you from your true potential. Instead of finding your way, you’ll follow someone else’s. Sometimes it’s better to find your own solution…then go back and see what other people are doing.
Just my thoughts…
If you want to hear more, just sign up for my new course! Only $350 - you can’t afford not to!
(Okay - just kidding)
[QUOTE=“RobDude;596363”]I’ve been busy with work and school - missed out on some opportunities. Only had time for one trade yesterday but made a nice profit. Weekly return: 16.2% Monthly return: 87.9% No trading tonight as I’m going out to play video games at my friend’s house. My Dad says I should go watch ‘The Wolf Of Wallstreet’ but I don’t know if it would really have much usable advice in the Forex world. Sometimes I feel like the best way to learn something is to just do it, and think about it as you do it. When you read a book, that knowledge can be good, but it can also limit you from your true potential. Instead of finding your way, you’ll follow someone else’s. Sometimes it’s better to find your own solution…then go back and see what other people are doing. Just my thoughts… If you want to hear more, just sign up for my new course! Only $350 - you can’t afford not to! (Okay - just kidding)[/QUOTE]
Haha, thought you were selling a course ! Almost bought that!
I absolutely agree with the fact that sometimes you just need to go out there and do it and you learn so much more than you’ve ever anticipated and while along that just do it curve you somehow develop your own thing instead of following after someone else’s strategy that you don’t fully understand or doesn’t fully make sense to you. That’s exactly what I thought when I was demo trading for about 2 months. There were overwhelming amount of information and I felt like I need to know it all. But after a while I’ve realized that I’d rather just do my own way whether be if pure PA or indicators and develop my own set of strategies along the way that actually made sense to me. So here I am I’ll be moving onto live account very soon ! Let’s see how it goes.
I traded 12 months with fake accounts, very successful… Similar trading style to yourself, quick small trades, well over investing, not using Stop Loss.
I went live, emotional trading got the best of me… When its real money, you take before you should have and you stop loss way to late.
Demo and live are worlds apart, as someone else said, go live, even just with $20.
Trust us !
If you go live and still pull these same results, $350 for your course, sign me up lol
I just started the metatrader 4 a week ago, never have done fx before… I’ve used stop loss ( hard to put that in knowing that you could be completely out by a 20 pip stop) and it could rise 100 in a split second after . I’m trying to stay with in margin as if it were a real account, buying .5 ,.10 small earnings add up I see, profit of $800 on top pd the demo amnt they provide, loss $57 because I got tired of them sitting there and it was looking good I came in on the high. Didn’t pay attention. After 2 days of it I realized to open have one going at one time, esp if I am going to open up a micro acnt. I set a goal for the amnt I want to make daily , a reasonable $50-$60 and I’m out. If its a $5 take on one and a $10 take on another then I’m happy, the reason is I see is to make money and go. Is rather make a quick few bucks in 10 mm then wait hrs or day for fluctuation to maybe get more or a lot less. I’m taking the course on here. This past week closer to the end it was pretty rough tho, does that normally occur towards end of month ? I read also to at least have a demo accnt for 6 months ? I need any and all suggestions and guidance where to go what to read how to create a strategy , demo vs real how different is it ? How much on average has someone whose done trading daily for a few yrs take ? I know most important I read over and over , emotions must be kept in check!
6 months demo account is great, but seriously if we dont have $20 to lose for the sake of learning then we probably shouldn’t be in forex.
The worst thing you can do is go really well on a demo, put a lot into a live account and then learn the harsh lessons of forex. Learn the harsh lessons, lose $20 - big deal.
Way to many hero demo traders out there.
go live
concentrate on pips profit and loss (not $) - keeps emotions in check
go with your gut, train your gut,
listen to people that ARE ACTUALLY MAKING MONEY ON LIVE ACCOUNTS - not hero demo traders.
There is no right or wrong way to trade, if you are turning a profit , you are doing it right.
Depends on who you use, there are some differences on demo / real. Most brokers want you to make money on demo so you invest real $. They make it easier by reducing spread, hitting your Take Profits with an abnormal spike.
On real accounts, higher spreads and sometimes they will stop you out with a freakish spike, or coming just below your TP.
Demo and Live SHOULD be the same… But, my experience is all brokers are a bit dodgy and its better to learn on a LIVE account then stuff around on a demo and getting ****y.
PS: im not making money on forex, I’ve lost more then I’ve made. Im still in the learning process, but i will get there, so, refer to 4) .
Well done, very good result. However, like other wise mans states, move in to real account. This is completely different level of emotions and tense. Your decisions are going to be likely different, because of factors that I mentioned.
I also suggest to wait about a year, before you will see if your trading system,knowledge is working.
I also do not recommend to open real account with just a little as 20$.
Sorry for my English :).