My $1000 demo account

Hi there Babypipsters,

I think it is time for me to get filthy rich! :sunglasses:

Just kiddin’ , I start my journey with a $1000 demo account. I will see where the road leads to. If I can make consistent profits over a period of 3 months, then maybe, just maybe, I will switch to a live account.

I have decided to trade the forex naked. Naked you say, is that not 18+? Well it maybe is, but I still find it to be correct.

I will use support & resistance combined with high probability price action to enter/exit trades. I will work with the daily timeframe.

In the coming posts I will add pictures to clear things up and explain why I took those trades. Also I will state every week what my balance is.

Please keep this thread nice and friendly, feedback is more than welcome, but be nice you know :smiley: Hope to hear from you, tips and suggestions are always a good thing.

See you in my next post!

Brilliant! Good luck pal, what will you be trading?

Hey there! :slight_smile:

I will be trading quite a lot, 28 pairs to be exact. I have an expert advisor which looks at trading oppertunities between all these. This way I know where to look.

After this I will draw support and resistance for that pair and decide on trading it or leaving it the way it is.

I did just place an pending order to go short at the Aud/Nzd. A pin bar formed near the resistance level. I must be careful though ,cause it opened with a gap over the weekend.

Thank you for your reply, see ya!

1 Like

:sunglasses:

This is the first day trading this account. My AUS/NZD short trade got triggered at 1.06988. I have set my take profit target at the next support level.

I understand all of this is not very clear yet. I will try to upload some pictures with my analysis using support & resistance combined with price action in the future.

Also I will keep you updated about my demo balance. I think its funny to see whether it grows or not.

See ya!

Progress so far…
I switched my charts from a daily timeframe to a hourly timeframe…
Why you ask? Well, let me explain…

I like trading, I love making the decisions and watching the screen to see if Im right or not. Waiting whole day for this is a bit too much. I hope all goes well…

I will still be using the same principles, support and resistance combined with price action. Pictures coming up, I promise.

Good night

I am down to 735 euro, Im doing something wrong :smiley:

Hey! Got any new updates?