I’m just wondering if you can tell me if this is that easy or if this demo is a scam. I started with the $100,000 demo account at avafx as I’ve never traded before. At first I blew about 5 k in a matter of hours learning. Kind of scared me a bit, but as I kept playing with it and reading the charts, I now haven’t lost on a trade in 2 days. I have the account up to $140,000 now and I’ve never traded before so I’m wondering, can it be this easy, or is this broker not real?
It just seems too easy. I let my trades go into the red if they want to because I just look at the chart to see what it has easily made it’s way up to over the last few hours. Wait until a support level, and make a trade. Even if it drops and drops and drops, I just wait. I don’t see any strategy telling me to do this, so I’m wondering what is up. I don’t understand why you would cut your losses if a trade is working against you. As long as you didn’t make the worst trade ever, can’t you just wait until it comes back up? It is currency. If you look at the charts, eventually it will come back your way. I mean that’s what I’ve been doing and it looks like it is working here but it could just be this demo. If it was this easy, I’d get a loan or something.
If you find a good support level across the chart, you will see that it just jumps right back every time it hits that level. Even if it’s headed down, I’m finding that I get at least another jump at that support level before it falls, and you can get a trade at that level and trade once it pops up… just look across the chart and you will see that over and over again that it will come back up.
Are my stats wrong in this demo? I don’t usually have luck so for like 25 trades in a row going my way EXACTLY the same as the last time… that’s a bit much for me.
eventually support won’t hold and it will go against you far enough to wipe out your account before it goes back in the direction you expected. I saw someone turn 1500 dollar real account into about 30,000 and then it got wiped out overnight. It can happen.
Wow that’s scary. So what would you recommend be my trading plan? Any idea where I should look for a good safe method that could be worth while?
Is the stock market a better way to go?
What about late at night make a trade low and when the market opens, close the trade? So far every night it drops low and every morning moves up fast. If I have a reasonable limit set, does that work? Have you ever seen the market open without any gains?
I run a market open simulation trade and over the past 3 months it’s barely break even, it’s a fixed system with little to no human intervention and was more to prove a point to myself about the reality of trading ‘systems’.
Well for example… the eur/usd is at 1.4406 right now and that is down right now. At 1 am Eastern it is at 1.381 - 1.387 three nights in a row. So if you set a limit at 1.397, doesn’t that seem pretty safe even if it works against you until the market opens? What are your thoughts?
look at 1hour timeframe and you’ll see its been in a narrow range for a few days after trending up. so what you are doing is working. But look at a daily time frame and you’ll see it can make big moves over a longer time.
the point of my earlier post is use reasonable stop loss so you get stopped out in case it moves against you unexpectedly and big.
I’m still new and learning so don’t take a lot of advice from me but do use a stop loss just in case.
Thanks. I’m just learning. That’s why I’m asking. I don’t want it to seem easy in the demo only to blow all of my money in the real thing! lol.
This might be a silly question, but if I were to just get a bank account in a different country, could I just transfer back and forth, or is that not allowed? or does that take too long for a transfer to go through?
I don’t want to lose my money. Is it just me, or does it seem weird that if your trade goes bad, you just lose the money…even though it’s not like investing in a company that then folds. That money is still there. If we didn’t have the broker close the account, we could just move it back when things turn around. Is this stupid or could I do something like this?
Let me know what you think. I’m obviously a newbie! lol.
You’re obviously not trading with any real rules. In order to succeed at trading long term you need some solid principles to trade by. A consistently profitable system.
Anyone can put on a winning trade or a set of winning trades, that doesnt make you a good trader. You will have to do this consistently over a period of time to see if it works.
