Close positions gaining $35.84.
After opening new positions the demo margin is 2.0%
35.84
13.97
18.42
[U]+5.21[/U]
73.44
Divide by 4(days) for an average of 18.36/day.
7.3% ROI to date.
Close positions gaining $8.78.
After opening new positions the demo margin is 1.44%
08.78
35.84
13.97
18.42
[U]+5.21[/U]
82.22
Divide by 5(days) for an average of $16.4/day.
8.22% ROI to date.
Closed positions gaining $1.50. I notice an opertunity, and had to take it. An hour later I had $8.33
After opening new positions the demo used margin is 4.77% ( a little to high for me, but still ok. )
09.83
08.78
35.84
13.97
18.42
[U]+5.21[/U]
92.05
Divide by 6(days) for an average of $15.34/day.
9.20% ROI to date.
So far this is more than 1%/day.
More than 200 trading days in a year.
I like it.
I started with $1400 in my account at the beginning of February and my account is currently at $2028.
bnob99, 
You go buddy! 
I was getting a little frustrated that other people were not posting other results. People need to know that the forex market is not all hype.
Will other people please post? :o
Thanks in advance!
You to can realy do that?
Hello,
I can just see that this demo thing is going to be my pet peeve!!!
Just a word of warning (from my experience anyway).
Trading with a demo account and a live account are two different things.
I tried out about 5 or 6 different demo accounts and made a killing on every one (and I knew almost nothing about forex trading) and Iām talking about making $3 000.00 USD in four hours over 2 days!!! Not bad!!!
BUT - there is always a BUT:
The moment I opened a live account with the same company that I had just made the $3 000.00 USD I lost about $1 000.00 USD of real money in about five minutes.
Nothing else had changed - not my preferred currency pair, rates, software, my preferred method of trading (which I believe is referred to as āscalpingā on babypips.com) and I still lost the money in a couple of minutes.
How did this happen?
I noticed from the moment of logging in that the trades were happening much faster and everytime I tried to buy an instrument at a certain price is was offered to me at another price by the system (dealer) which inevitably was not in my favour.
The reason for the above is that their demo system is an automated system i.e. there is no dealer (person) involved so whatever price you decide to buy or sell an instrument at is exactly the price you get. Not so with the live system.
I have a sneaky suspicion that it is not only the company that I am with where the demo account and the live account are not exactly equal.
I mean - why is a company going to actually pay somebody to go through demo orders etc. etc. on the off chance that you will sign up with them?
Also - letās face it - if you always and consistently lost money on the demo account NOBODY would actually open a live account now would they!
I had this same experience with share trading through a broker a couple of years ago.
You know - what I knew about share trading in those days was what I had seen in the movies and heard other people say. I found a broker and asked him if it was EXACTLY how you see it in the movies i.e. you find a share that you like, buy it at the given price, wait for it to go up, and then pick up the phone and tell your broker to sell it at the current price. The broker said that that was EXACTLY the way it worked - except for one very small but more than anything else important detail - IF THERE ARE NO BUYERS FOR THAT SHARE AT THAT PRICE YOU CANNOT AND WILL NOT SELL IT AT THAT PRICE. In other words - it is not just a simple matter of watching a share price (or a currency value) - buying it and assuming that you will always get the instrument at your price - waiting for the price to change in your favour - and then just simply selling the instrument at the higher value - IF THERE IS NOBODY WILLING TO PAY THE HIGHER VALUE THEN YOU MUST EITHER HOLD ONTO THE INSTRUMENTS AND WAIT OR SELL THEM AT A LOSS.
I donāt understand why this is never explained to ānewbiesā. In both instances the omission of the fact that buying and selling shares or forex is dependant on the market value of the instrument NOT THE VALUE BEING DISPLAYED ON YOUR COMPUTER SCREEN AT THAT INSTANT has cost me money and lots of it too. Needless to say I never traded shares again - but now at least I know (unless somebody else tears me apart for my statements above) and I intend to make this forex trading work for me no matter what!!!
Iām not trying to put anybody off - I may just have saved you some money though.
And if Iām wrong or have made any incorrect statements above I would appreciate input as I am still learning.
Regards,
Dale.
Thanks dpaterso, now thatās a post.
I understand your frustrations.:o I started with stocks. The forex market is way different.
When I went live I had a demo open with my real account to see if any differences would cause me to loose my money. Happy to say that the FxSol demo and live accounts were identical. I lost money because of Fear/greed and misinterpretation of indicators.
I hope you are enjoying more success in this market. I scalp just a little, but not much. My trades are daily, I really like that.
Hang in there!
Thatās it - after all the time and effort I went to to post that message!!!
Only kidding - thanks for having a look.
Am I on the mark though? I mean to say am I correct in saying that it is not just you and your workstation in control of things - either when trading shares or forex - their is another human being somewhere else with his workstation that has quite a lot of control over your trades and if there are no buyers at a given rate for either shares or forex there is no sale?
Would you agree with that statement?
Regards,
Dale.
Dpaterso,
Firstā¦ thanks for your postā¦ I liked reading it very much and had the same question.
Second, I had always wondered when I click on the buy buttonā¦ Who am I EXACTLY buying FROM? Am I buying this currency from the central banks? From the actual countries I.e. USD/CAD from the US and Canada directly?
Or like you mentioned, am I buying this pair from someone who is willing to sell it?
On average, 2 Trillion dollars are traded every 24 hours on the Forex so we are talking about some HUGE money hereā¦ My little microā¦ or HUGE to me, standard lots are like pebbles on the beach.
I kind of thought that my little money gets bundled up with 1,000 other small spot traders and allows the brokers to buy much larger lot sizes probably with fractions of a pip spreadsā¦add to the fact that they charge us spreads (say 1 to 3 pips) and thats how they make their money.
So the question isā¦ who do the brokers buy/sell to? The central banks im assumingā¦ is that correct?
Thatās a good question. I have never had a problem in this area. I have never had a reason to research it.
dpaterso, a had replied to the post before I read your request for me to reply. Sorry for the short answer.:o
The cool thing is now I trade based pretty much on logic. I have a lot less poblems, I guess none. My daughter is demo trading my trade style on a $1000 account. She looks at no charts and no indicators. Her balance is up $294 and some change. She has had the demo for about 30 days.
Hang in there, you will get it.
At one point I bought into the fact that the FOREX market is real difficult and you will lose alot of money. Fortunately I changed my viewpoint and now I am very consistent at making money. I only trade the EUR/USD and have yet to take a loss. Where I did lose some money was when I was trading the USD/JPY. Obviously I am still way up, but could have been even further if I hadnāt been involved in that pair. I promised myself I will only focus on one currency pair and the one for me is the EUR/USD. I also donāt get too deep in charting. I do use the system posted by another user in for this currency and how you can make 45 pips per day. I also watch the news constantly. People may think Iām crazy but I think alot of people put to much thought in some of these systems and then are at a loss when they donāt make any money or are on the sidelines not making any money because they didnāt get a āsignalā from the trade. Just my opinion. Keep posting your statistics. I am definitely interested to see how you do. Good luck and if you ever have any questions, let me know.
The forex market is similar in most ways to other financial markets. For each buyer there has to be a seller. It is the decentralized nature of the forex market that makes things complicated. Instead of one central exchange where all the trade transactions are processed, you have a loose conglomerate of banks around the world performing the same function (the inter-bank market).
Your small-time forex trader doesnāt have the capital to interact directly with a large bank, so instead they have two options: a retail forex deal-desk broker, or an ECN broker.
In both cases, your broker is the counter-party to all of your trades. When you buy or sell your broker is taking the opposite side of your trade.
The difference between the two is how your broker handles bundling together all its clients orders and passing them through to the inter-bank market.
Both types of brokers will automatically try to match your trade with that of another client of that broker. If you decide to buy and another client sells the broker can just match the trades up straight away and everything is squared away.
What about trades the broker canāt offset against another of its clients?
A deal-desk broker will bundle all the trades together and offset its exposure in the interbank market.
An ECN broker offsets each and every trade it canāt match internally with the inter-bark market. The ECN broker is simply a pass through to allow the trader to access the prices being offered by the banks that are part of the ECNās price feed.
Colin, Awesome post!
I had no idea.
I agree - thanks Colin.
Just to back it up I found this interesting article on how orders are executed:
It relates mostly to share trading (I think) but having said that it does explain why there are delays in orders being filled, why you may wait for limit orders to be executed, and why stop orders are sometimes (mostly) not executed at the price that you initiated them at.
This article sure goes a long way to answering some of my other posts as they relate to āLimitā orders not being executed instantly as one would expect.
Regards,
Dale.
dpaterso,
That was an excellent read as well, Thanks!
Closed positions gaining $21.79.
After opening new positions the demo used margin is 4.3%
( still a little to high, but still ok. )
021.79
009.83
008.78
035.84
013.97
018.42
0[U]+5.21[/U]
113.84
Divide by 7(days) for an average of $16.26/day.
11.38% ROI to date.
[B]WOW,[/B] today was pretty good.
Thank you USD/CAD.
Closed positions gaining $94.27 .
After opening new positions the demo used margin is 6.5%
( I think thatās to high. I donāt like it. )
094.27
021.79
009.83
008.78
035.84
013.97
018.42
0[U]+5.21[/U]
208.11
Divide by 8(days) for an average of $26.00/day.
20.81% ROI to date.
This is earlier than normal because the kidās grandpa (on thier motherās side) passed and I have limited time on a very slow computer.
Today was good.
Closed positions gaining $43.23 .
After opening new positions the demo used margin is 5.2%
( I guess Iāll deal with it. )
043.23
094.27
021.79
009.83
008.78
035.84
013.97
018.42
0[U]+5.21[/U]
251.34
Divide by 9(days) for an average of $27.92/day.
25.1% ROI to date.