First trade question

Beginner Questions
1

Hi everyone, I just made a first trade on a demo account and made a tiny profit, tbh I only made the trade to keep the demo account open as it expires after 30 days. I am still learning the basics, 2 weeks in. Can someone please explain this to me?

I did instant execution buy order with a stoploss and takeprofit but I don’t quite understand how the trade worked according to the graph:

So it hit the takeprofit and you can see that on the candle, but can’t really understand from where it started the trade, no where near the candle? Someone can explain this to a newbie? thanks :slight_smile:

2

The broker adds aor takes away “Spread” on your bet and the same on your “Win” or “Lose” - I’m assumaing that is what has happened here.

3

For some reason my report says: 0.00 commision and 0.00 swap. Does the demo account even have spread? I am so confused right now.

4

“Commission” and “swap” are not “Spread” - "Spread should be shown on your screen somewhere (bottom left ?) - as “BID” and “ASK”

[Edit - my demo does have “Spread” - can’t vouch for all brokers - but in view of your question - I’d say yours does as well ]

[Edit 2 - you buy at “Ask” and sell at “Bid” - unless you place a "“pending order” ]

5

hehe, That’s so Cute. First Trade Every aaawwwww :stuck_out_tongue:
you don’t see this often, but it’s cool when it happens,
You’ve broken your trading Virginity

Now let’s make you a Man hehe

enough mucking around, I’m going to be serious now, so i can help you ok
Mate, are you aware that Whether you place a trade or not A DEMO ACCOUNT EXPIRES AFTER 30 DAYS no matter what. ?
Placing a Trade doesn’t keep it open[quote=“ZoraEggs, post:1, topic:125831”]
but I don’t quite understand how the trade worked according to the graph:
[/quote]

You should go through the Babypips EDUCATION tab
it explains all this

do this on your MT-4 Chart
Right click
Select PROPERTIES
Select the COMMON tab
and then make sure that SHOW ASK LINE is selected

LET ME EXPLAIN THIS TO YOU[quote=“ZoraEggs, post:1, topic:125831”]
but can’t really understand from where it started the trade
[/quote]

well. first thing you need to do is
Look at the Account History
What is the open price
What is the close Price
then you could put horizontal lines on those points to show you where it opened and closed

another way of analyzing this is to understand WHAT PIP SPREAD IS

so… the current market price on this chart is 1.33223

Now let’s that the broker has a 3 Pip Spread
and to make things easier, lets say that the current market price is actually 1.33220
NOW. we can round that down to 1.3322 (THIS IS IN PIPS)

SO… if this price was to move 3 Pips (3322+3 = 3325) hence the new price would be 1.3325
do you get that

Now. you are looking at a really quick time frame

if we look at the blue arrow, THE OPEN it’s just there with nothing next to it. right and the price is around 1.33225
so that’s 1.3322
now look below it at the top of the candle is roughly at around 1.33210 which is 1.3321 in pips

so… the difference between 21 and 22 is 1 pip
Meaning there was a 1 Pip spread at the time

if you enable the ASK LINE and you place a trade

You will notice 2 things
When you place a trade it’s not really going to happen on the line that you are looking at
When you take profit and your line reaches the Take Profit, IT STILL HAS TO GO HIGHER (if you are buying) than the T/P line in order for it to Take Profit

These are very basic concepts that you need to learn in babypips
Having the ASK LINE on helps you understand this.

also, Change the time frame to something like 30Mins or 1 Hour so it doesn’t confuse thehell out of you… ok

Hope that helps

Pay attention to SPREAD
the PIP SPREAD is the difference between the BUY and the SELL or BID and ASK
here is a screenshot from a M15 EURUSD Demo Chart

this is a tight spread

the Sell is 1.1750 and yes lets include the point…8
and the buy is the same
so that’s 0 Pip spread

now. if the BUY was 1.1745
that would be a 5 pip spread, does that make sense ?

6

You should have closed operations before the last 3 bars. There is nothing left to do, the market unseated.

7

This is totally mistaken.

I keep a spare demo account at a brokerage I don’t use with a real account, just to test things out, and I’ve had the same one there for over 5 years without ever needing to “renew” it, contact them, or do anything at all. It doesn’t expire.

The truth is that this varies hugely from broker to broker.

Some make them expire after 2 weeks, some never make them expire at all, and everything else in-between is also possible.

I know you mean well, Martin, but so often these things you flatly state as if they were factual are just completely wrong, and if people don’t correct all the misinformation you post here, you won’t really be helping other much at all, will you?

When you say things like “no matter what” you make it sound like a real certainty, too - however mistaken you are.

A lot of us would really appreciate it if you’d do this a lot less often, please!

2 Likes
8

Only 5 years? Ha! Newcomer! :stuck_out_tongue:

I’ve had my Oanda demo for nearly 15 years (also never had to renew or contact them, or anything else).

This is quite common.

A lot of us agree with Charles about this, Martin.

Nothing personal at all.

No rudeness meant.

But you really do post a LOT of “factual statements”, very regularly, that are just completely mistaken, you know?

2 Likes
9

Actually it is very confusing. Whether it spreads or commission! I also used demo for my trading. Just because of to understand the result. If it is confusing then I stay away from that trade. Maybe it is a mistake on your demo account. Actual fact is this sort of results are differ from broker to broker. My view is you have done something wrong. You have to correct the mistakes.

10

@LukasVisser
Firstly, don’t you mean FRACTAL as opposed to FACTUAL ?

Now let me make a point here as well, ok
PEOPLE MAKE MISTAKES and when they do (like you have) Clarification is required

Now
PLEASE NOTE

  1. I’m not being rude, am i ?
  2. I’m asking for clarification if i am misunderstanding or if you made a spelling error… right ?
  3. I’m providing a reference to what i’m saying so you don’t have to assume what the hell i’m talking about

Now., if people want me to fix things, it would appreciated and very helpful if you could point out these FRACTAL Statements

I can then fix them and stop pissing people off… ok
Which is my intention (to stop pissing people off, of course)

thank you for the feedback

11

I think on first trade trader is much dreaming, confident as well as feared too. He want to work here hopes he will do better. There are lot of things in his mind for future and less for trade management. All these tips are come to him after some practice in live trading. He uses stop loss in trading but having not good market analysis. It is my personal view some other can think differently.

12

I’m not sure why you would think @LukasVisser would say something he didn’t mean, Please explain :slight_smile:

13

@Falstaff
Ok,

  1. It would appear that i have misread something. my iniital interpretation of this…[quote=“Falstaff, post:12, topic:125831”]
    But you really do post a LOT of “factual statements”, very regularly, that are just completely mistaken, you know?
    [/quote]

was that it said FRACTAL

ok, let’s chalk that up to my mistake… No problem

  1. Now, I’M CONFUSED
    because i don’t understand the context then…
    because @LukasVisser is clearly making a point that i regularly post “Completely Mistaken” content

Now. if that’s the case, how can my posts be “Factual Statements” ??

could someone clear this up for me Please
thank you

14

MArtin, you have quoted me above - about something I did not say - PLease change the quote to the correct person.

15

He does that regularly. I’ve never bothered to ask him to change them, but probably you’re right to, and I should. It’s all such a nuisance.

Indeed. My view is that you probably misread and especially miswrite things here far more often than you realise.

I think he probably put the inverted commas around the words “factual statements” to demonstrate that they’re not really “factual” at all, but just things you state AS IF they’re factual, probably because you believe them to be factual whereas in reality they’re just COMPLETELY WRONG. As so regularly happens. One example in this thread (the one that started this discussion), another in the discussion about the importance of regulators, another where you stated flatly that all demo accounts expire after a month (where do you get this rubbish from?!) etc. etc. etc. etc. etc.

It seemed clear to me, anyway: people are increasingly complaining that you post misinformation here as if it were factual. No surprise there. The sad thing is that the people to whom you normally address it know no better, and just lap it up, thanking you for your help, not knowing that they’ve been totally misinformed.

It’s becoming really tiresome, Martin. And you seem to be PARTICULARLY sensitive (as seen above) to any suggestion that the forum would be a better place if you stopped doing it.

2 Likes
16

I agree - I often use that method myself to indicate Irony to a casual reader.

1 Like
17

Irony - exactly.

Thanks, guys.

Sorry for any ambiguity: it was just quicker to use inverted commas than to say something like “Purportedly factual statements which are actually a load of old nonsense”.

I share Charlie’s concern about beginners continually being misled by his posts, but it’s pretty difficult to know what to do about it, if anything. Polite hints and friendly explanations have comprehensively failed, it seems.

“Find another forum instead” may, ultimately, be the only answer, if he stays around.

18

No ambiguity at all LV - Perfectly normal convention.

1 Like
19

@Falstaff
i didn’t do that
I just copied and pasted the comment of @LukasVisser

i supposed that babypips put your F next to the comment because i was responding to you while Quoting his Quote.

i know you didn’t say that
but i also don’t have a control over what babpips does
i don’t know how to change that,
if you want to tell me… Feel Free and i’ll change it

20

Look what I did in my Post 12 on this thread. I’m no IT Engineer, but I worked it out !