Hello everyone
I’d like to post pictures of my demo account so that someone can tell me what I’m doing wrong.
The demo account was opened with Trading 212 on June 13th 2018 with $50,000 … and I’m already up to $282,000 … Surely there is something I need to know about that broker or about demo accounts … Or about anything … cos even to the newbie that I am, this is not normal.
Depends on how yiu were trading.
How much risk did you use per trade? 2%…5%…20%? 10 Pips…40 Pips…100 Pips?
How large were your targets realtive to your Stops/Risk Per Trade? …twice/three times the value of your risk?
How many trades did you make? And were they a series of carefully assessed trades or just a few good ones?
It’s an incorrect amount to start with; please try to use small amount like 100-500$, small amount really helps to learn.
Treat your demo account like the real one. Use the same trading conditions and strategies which you will be using later on real account. Only then demo account could be beneficial for you. As you are newbie so it is advisable that don’t trade with such a hefty amount.
Link your account through myfxbook. and post the link on here. That will show all data and people can give you feedback.
However, be careful of the blind leading the blind. Most people giving advice on here don’t know what they’re talking about.
Yes, to some extent may be it won’t be the case of real trading. Since it is not that easy to earn such multiple money from an investment of $50000 within a short span of time. But it is a normal matter for any pro trader.
Couldn’t agree more with you LauChoKun. I’m a beginner myself, but it seems to me @mindtwister is blind trading because he so puzzled by the growth of his account.
I appreciate your opinion; but I think starting with a healthy amount creates greed in the beginner’s mindset.
yes it is and completely agree , generally we become emotional when trading with a large amount , so it is more appropriate to avoid large amount for beginners
Exactly, that’s my point; even when I was a new trader I also faced same problem in my demo.
This forum is a good forum for everyone. Every trader gets knowledge from here. There are many professional traders available here who helps every trader to give them a best solution for their questions. You can also get knowledge about the forex market by reading the expertise advices.
Make a demo account and do some work on it to learn about the market. Demo account is the place where you can learn about the market without the fear of loss of money. You can get experience and knowledge about the market from the demo account. You can also be able to make a strategy about what to do in which circumstances.
what you think , the experience we take from demo , it works in a real account ?
I think it could if you trade in demo with the mindset that is a real account and you will put real money only after you will be profitable for a little while.
experience from demo of course work when trading in a live , i think you indicate not to trade in a demo account, don’t know why
Working in a demo account is beneficial, as long as you keep it real! Try making your demo the same as your go-live will be. You know what you have to put in…and no more. Earn your grubstake.
Don’t be unrealistic. That is all.
It’s a good point, demo can be useless if you trade in here for very short term, but if you can stay with great patience , there is a chance to acquire good knowledge and live experience from there.