Their account balance increased $1,945.88. still calculating the pips would be inaccurate.
The demos new account balance is about $33,845.
After they managed the demo the new used margin figure is 4.5%. Just a hair less that $1,500.
thats really good.
how long before you switch them to a real account.
Do they make more pips than you?
dont tell my dad but i think sometimes we make more pip the he dose. as soon as i can pprove i can do it wit out his help he is gonna give me 300$ to go live wiht. i hope thats before the end of the month.
Silly boy!
The pips are sometime more, sometimes less, but they did increase the lot size before I would have. I guess the profits look better. The risk of margin call is greater. In my opinion they have more greed and less fear.
The reason the trade style is set up the way it is, is so it will work in a trend or a channel. When they go live I hope the follow the rules very strictly. Kids will be kids, at any age.
When they go live, especially with $300 as said in the post above, are they going to be able to handle the small gains and have the patience to work up a real account which is totally different than a 20,000 demo account. Being under capitalized makes trading A LOT harder and is not recomended in the babypips school .
Topgun
A similar trade style will be used.
I have different trade styles for different account balances.
They will start with the first and work their way up.
To answer your question, I doubt they will like starting with only $300.
My son opens demos on the weekend and uses GBP/JPY to reduce the balance to the $300 he will be starting with.
I started them on $50,000 demos and they are working there way down to $300. They are learning to trade according to market conditions. If the market does this, do this. If the market does that, do that. And if the market does the other, do the other. And different financial levels as well. I would like them to know how to help others to get from where the are financialy to where they want to be.
This thread became a competition between my daughter and my son. I thought one would do much better than the other, but they both did very well.
I like that you used caps on lot. 
Just wanted to emphasize the point . Good Luck to them both. Maybe you should start a blog so they can post their trade results.
pipgod
is the trading style you taught your kids the same you use on your real account. Are you gaining 40% plus a week also or has the psychological aspect of using real money hinderd this somewhat.
what did you start of with and end with
One potential place to start up your own forex blog is at YourForexBlog. That’s if you don’t want to have to deal with hosting your own site and keeping it all up-to-date.
Yes, in the beginning the psychological aspect did hinder me. I have been over that for a while. I had lost over $4,000 usd. I have all that back now, of course.
I started live many times. I can’t remember how many, about mmm… 8 or 9. Sometimes with $5.00, sometimes $300. I made it though. My son had a demo he started with $300. When he was over $2,000 he got greedy and margin called back down to $317.
The last few trade styles are some what the same with a few variances. One is a upgrade of another. I had to make adjustments according to market conditions. I have a best that I use most of the time. The kids know all of them. I wish I were them right now. Knowing what they know at that age.
Hope you trade styles are doing you all well too.
Thanks colin, I’ll look into that.
Hmm…
My son should have posted by now.
To revisit the question, the psychological aspect is there only at key times.
If I open a new live account with $20,000 or less, I can usualy add 50% in one month. Add $5,000 more in margin and I will double that account within a day or two of one month. I just met a property investor who is giong to put up (at least) $25,000 just to learn. What I worked out with him is for him to open a live account in his name. Give me the username and password and I will show him by trading that account for him. He will use a demo and take notes as we go. At the end of six months, he will give me half of the increase. With another individual, he is giving me $2,000 to learn from me. I will trade it and add 50%/month. He will do the same with a demo and journal. After six monts he gets his $2,000 back and I keep the whole increase. My kids and my sister, they learned for free!
So with limited margin, I (am careful) have the psychological aspect . With a little more margin, the whole world opens up.
Oops! That was [B]$500.00.[/B]
My son is so spoiled. He is discouraged because the demo made only $245.00 on Thursday. I told him that it still is a +positive figure.
He has yet to manage the demo for Friday close.
I tend to agree. Here’s my results for this week… straight losses, and I’m quite happy with it, because at the moment I’m aiming for something besides just numeric profits:
-270 pips from market action alone. Trading costs money, however, and the broker wants his share too. There were 51 trades this week. I estimate an additional cost of 119.9 pips in spreads for a total of -389.9 pips. The spread varies widely from trade to trade, so I will make do with estimating it; I’m more concerned with actual dollar amounts than pips anyway.
Speaking of dollar amounts, I started with $5,000 in my account. I now have $4,577.75, for a drawdown of 8.4%.
Have you been successful on a demo?
Is that a live account?
Please tell us you are not loosing real money like that.
hey guys sorry i forgot to post thursady night but my dad got it for me. todays take was 654.00$. i know thats not as much as we have been bringin in but my dad says its still sometimg. out of 26 trades 21 where good:) and 5 where bad:( . he says that was ok but i know we can do better than that. by the way hes the one that spoiled me.
It’s a demo account where I’m just playing with different PL ratios. In a few weeks’ time, it’ll be profits instead of losses.
Momma din’ raise no fool. 