My 10 days performance on demo account. Is this possible or too early to judge?

Beginner Questions
1

Hello,

I have signed up for a demo trading account on the 2nd of this month. It was my first encounter with trading ever. I practiced options, Forex and CFD and lost couple of accounts.

However, last one is the longest so far as I started on12th this month with €500 with leverage mostly 500:1 and it is now €1300+.

Balance at the end of each day:
Wed: €500.00
Thu: €500.18
Fri: €500.25
Mon: €400.18
Tue: €603.69
Wed: €659.92
Thu: €446.35
Fri: €1393.16

Summary:
Worst trade: -€327.32
Best trade: €590.34

28

I don’t have any previous experience except some statistics and probability awareness with some ability to predict and count on trends which I acquired from my industry (computer engineering). My progress in this new field is so effortless that I don’t believe it is true.

I am just wondering if it is possible to make more than 100% profit in less than 2 weeks? Am I missing something? Will I lose the money if I kept risk level high? Is it too early to judge?

Thank you.
Abdullah

1 Like
2

Hi, big return needs big risk, big risk need more knowledge and skills than beginner investor to control it, knowledge and skills need time to get it, so yes, it is too early :grinning: Regards Greg

4

Yeah. I just have an idea now of why people lose money. It is so unbelievable and tempting.

2 Likes
5

Yes, because you have demonstrated that it is possible.

No.

Most probably yes, because you are keeping the risk level high and you are on a demo account and you have limited experience. You also say that you already lost a couple of accounts too.

Yes.

6

I lost those accounts after a few hours, but didn’t lose this yet. However, I need to develop a better risk management strategy as of course I won’t be trading like this with a live 5000 EUR.

7

Mate you go from wed at 659 to Thur at 446 - these are massive swings for an account that size, me thinks you are risking far too much per trade as % of account - doing that would get you killed quickly on a real account

1 Like
8

Worst trade €327 loss, yep we’ll over trading in size for an account of that amount.

9

Stop using the demo account like a video game of a visit to a casino. You’re just going to become an expert in something you would never do.

Set down the rules of a simple objective strategy and follow them absolutely to the letter with a demo account of the same capital size as your planned real account. If it works sporadically, investigate and adjust the rules. If it works consistently, open a real account but keep your positions to one-tenth of the demo trade size. Be prepared to spend a year in this stage.

2 Likes
10

Exactly, this is all just fantasy.

Emulate how you would trade for real and then go live with a much smaller amount as soon as possible.

1 Like
11

Thank you all for your feedback.

I’m trying to. I’m getting better at finding out the appropriate lot size for my account.

I’ll keep that in mind. I don’t have a strategy that I’m confident with yet. I just follow trends on 1d chart.

1 Like
12

Hey, following trends on D1 is an absolutely good way to get going.

1 Like
13

Yeah I just learnt this last week. See! I’m just learning :sweat_smile:

14

من أي بلد أنت تتداول؟

15

Hi, the turtle traders confirm this solution :slight_smile: Reagrds Greg