After several years of studying trading techniques, not very regularly, i’ve opened my first demo account. I trade naked right know, relaying on key support levels, trends, and channels. I’ve placed MACD under the graph, but i dont relay on it as a key tool,only something which ensures me in my trades.
I Set myself a border of 1000 Euro of demo account an treat it as it was real money. I make trades of 1% of my account per trade. Right know i go bullish on $ on Major currencies. USDJPY is my favorite right know.
I plan to open my real account whith a little sum of money after a long period of winnigs on demo and then whith meaningfull ammount of money over simmilar period of winnings on small account.
Helloooooo @Jacekxx! Welcome to BP! I’m also on demo account right now and you could say I’m experimenting with different systems and strategies now. I also want to border my account to 1,000 USD so I could also treat it as real money, but I’m not really sure how to adjust it. Still, I try to be realistic with the positions I take.
I hope we could talk about our demo experiences more too! Welcome again.
Thanks for warm welcome. For me on this moment is important discipline, learning the platform. IMHO you have to decide on strategy which fits your style, and if you like it then test if it works for you so you can make profits. Since gathering credible sample of trades is VERY VERY long.
I’ve been a successful poker player in the past so i did experienced varience and the “luck” element of making decicions. So short term succsess or loses can be misleading.
I also want to border my account to 1,000 USD so I could also treat it as real money, but I’m not really sure how to adjust it. "
If i understand this correctly i think that you should place your stop losses on the place where you will lose the 1-2% of 1000$. TP should be managed taking into account Risk/Reward ratios,
I agree! Which is why I think it could be helpful to try out different methods to determine which one suits your personality and trading style. I hope you could share yours with us!
Rule 16 states that there are no females on the internet - specifically in role-playing games and chat rooms.
Sure Ria.
I go on 1d chart make look if there is a trend, and if there is I place order after the price have bounced of key support level 1% on a trade. then i go on lower timeframe(1h for example) and wait tilll the price bounces, and buy/sell(1%) on the correction on the same direction as on 1d trend. And then i go even on lower timefriem(5m-15m) to make next trade as described above.
The MACD9,12 i use to reasure my trades or spot potential entry/exit points.
Ohhh? But I really am a girl! Huhu. That rule is weird.
Thanks for sharing this btw! I just follow a system I saw here on BP and it’s been working well for me so far. Haha. Do you have any open trades right now?
Ok i belive you Just trying to be funny… not sure if succsessfuly
Ive seen allso this 3 ducks system which was interesting for me. Maybe if my plan wont work for me in some time i also will change to 3Ducks. For now 3 trades hit SL this night and maybe some will hit today since i routing for dollar and $ isnt doing so well as i hoped.
Nevertheless i hope it will bounce in some time, but i didnt include in my analysis that US have free day yesterday and today. And some of my trades hits Stops.
Im going still bullish 9 trades on a dollar. USDJPY seems the most reliable pair becouse it goes up even when Dollar not performs very well.
The 3Ducks system also sounds interesting! I’ve been watching that thread too and it seems like a lot of people use that system.
Is there an update to this trade? I’m not really watching USDJPY since I’m focused on GBP and EUR. I use the HLHB system btw. I try to share how it’s been working for me so far on this thread.
HLHB seems interesing. Targets High risk/rewards. I consider in some time if its not worth to check out some working system instead of playing roullette
USD/JPY not so good latelty. I counted that dollar will be stroneger with its bullish trend on 1d chart, but it semms that its running out of steam. USDJPY is ttill in good condition though and still going slithly toward my TP.
We will see in some time how strong will be dollar becouse when I trade in Pairs with the dollar it mainly depends Of strengh of USD, So I have to decide if i want to trade many pairts with a dollar or only the most profittable and look for opportunities on cross pairs with high volatility.
Hello Jacekxx. Wow I saw that you’ve been registered since 2012. Was it a conscious decision for you to study that long first before opening a demo account or it was due to some other circumstances? I’m done with the school and afraid to take the next step. I feel like I haven’t studied enough yet.
At the time i registered i finished my studies and was looking for some usefull thins to learn. One of them was Forex, i ended the babypips school, and was in the same position, as you since opening a demo account and learnig the platform was something unpleasant. The other thing was that i started making money on online poker and leraning to play poker took me very big ammounts of time.
With the demo account many people use MT4 i didnt like it and found a platform which is easier.
I am sure that you have enough knowlege to start trading, since you only need to know 1 system which you like to trade, and Money managment. So dont be scared and put those virtual money in to work
Welcome to BP! 
I also want to border my account to 1,000 USD so I could also treat it as real money, but I’m not really sure how to adjust it. 
Still, I try to be realistic with the positions I take. 
But I really am a girl! Huhu. That rule is weird. 