I recently opened a demo account with fxtrader pro as I saw it advertised somewhere. I selected to start with $500k. Now within a few days I have made $100k. First trade was with volume of 8 as that is the maximum they allow me to select. I made a few trades that first day and was up $50k. I then uploaded a robot which selected volume of 85 and it made the rest $50k within 3 days on its own. I don’t know why it’s allowed to select volume of 85 and I’m not.
Anyway, I just wanted to know if this is the case, does that mean if I opened a micro account with $500, does that mean I would have made $100 doing the exactly the same thing?
If you have a mental strength of titanium, yes you would have, meaning you do not reverse out on your actions (due to emotions) and traded as if it’s demo.
But I understand you have only traded a very short time. That is not a very good way to get a representation of your overall trading performance in the future. You may have just been lucky these two times. I suggest you demo further. You can be pretty damn certain you are doing it right when you get…like what? 10 consecutive wins?
the first $50k was more than 10 consecutive wins in a day which I did myself. I was a bit confident as I am used to trading horses on betfair which seems to work on the same principal.
But technically, if i used 500 instead f 500k, are there any differences??..with betfair, there wouldn’t be…only problem is that you would not be able to trade 500k on betfair as there is simply no liquidity, but I assume that is no problem with forex. I could be wrong on that though.
I see…well I don’t know much about sports betting but know this, forex is not plain gambling. (then again, neither is sports betting aintit?).
And no, you won’t have liquidity problem at all in forex. Go ahead and start a real account if youre confident, but I suggest you don’t put in more than you can lose first. Psychology may not be similar here.
no, trading on betfair is the same as trading forex. no gambling involved. of course, if you want to gamble, it’s up to you. You just study the charts and act accordingly buy low sell high etc.
anyway, the question i am still looking for an answer for is whether or not if I used 500 instead of 500k as I did with the demo account, does that mean the result would have been 100 profit instead of 100k profit, or is there some sort of clause.
and no, i will not be opening a real money account until after 6 months of demo trading. I learned that the hard way on betfair when I first started…won’t be doing that again.
