Yeah. I can proudly state that since January 1, 2009 I have not had DD higher than 3.5% on my real account and even here DD is lower than 3.5% so far.
I am only 1 year old in Forex so to speak
Box Breakout indicator 195 replies
Breakout EA based on New York Box 3 replies
4H Weekly Box Breakout [TD] 4 replies
EURUSD Box Breakout 6 replies
Breakout Box 5 replies
DislikedThis is a really bad idea of money management. No system will bring profits with such risk. If you want to be profitable in the long run and consistently, first thing is protecting your capital which is a tool that lets you make money. If you damage your tool it is hard to come back. If you lost 50% of your account, to come back you need to trade on 100%.
By the way, how long have you been trading Demo / Live?Ignored
Dislikedlol i know, i opened a 100 bucks micro account thinking, "hey, this is a piece of cake!.. gonna make me rich in 10 weeks!"
Well, i blew that account rather fast, lol.
Been having 33 bucks left since then and started demo trading and LEARNING the right way to trade.
I don't really care about the 33 bucks that is left, so i figured with a 160 pip 4h candle, i can actually almost do the full Long/Short Ace system week with 33 bucks and micro lots.
So i did it. I guess i actually risked 100% of my account, lol.
16 bucks (160 pips) Long and 16 bucks...Ignored
DislikedForget about Demo , man.
Live and Demo are completely different and trading big sum of OPM is also different. Start trading live with good risk control...
I stopped trading Demo last summer after doubling 2 accounts in 4 weeks
Live is different.
Good luck!Ignored
DislikedThanks
hehe yeah i suppose it's a lot different, but still, if you can't make a profit while demoing, you probably shouldnt open a live account just yet.
I need to get more comfortable first before i go live again.Ignored
DislikedMay be, but the most important part of trading is psychology and it cannot be developed with Demo. Only real money can do it. Just my 2 cents
It hurt me like hell losing even 50% of $200 account last November. I made 55% in 5 weeks and then lost 60% in 1 day. Was in depression and could not trade the whole December, was thinking of risk control and money management and gradually I resolved it. You know, once, I was entering trade and I had no idea how much I will lose and where I will exit if trade goes against me. No, only real funds will...Ignored
DislikedDemo account is the only way to build up self confidence and belief in a system. If you jump into a live account with a system, and that system makes a few loosing trades right off the bat, the loss from the system, and the loss of money will surely make you question yourself and the system you are using.
Play on a demo account to see how the system reacts to markets, THEN go live.
Maybe your the kind of person that need to experience something to learn from it, I on the other hand do not, your mistake is my lesson.Ignored
DislikedDemo account is the only way to build up self confidence and belief in a system. If you jump into a live account with a system, and that system makes a few loosing trades right off the bat, the loss from the system, and the loss of money will surely make you question yourself and the system you are using.
Play on a demo account to see how the system reacts to markets, THEN go live.
Maybe your the kind of person that need to experience something to learn from it, I on the other hand do not, your mistake is my lesson.Ignored
DislikedGbp/Jpy.
the current Uptrend is climbing.
we are in for a rough ride.Ignored
DislikedI demo so that I get used to the system I want to use and when I'm comfortable with my own rules, then I go live.
I agree psychology is different with live than demo....Ignored
DislikedI agree with the part regarding demo accounts. I've talked to a number of experienced traders who trade live and yet continue to maintain a demo account to experiment and "tweak".
I was confused, though, about how you learn from shiko's mistakes. That's only true if he chooses to share his mistakes, and many traders tend to highlight the positive trades and minimize mistakes, so I'm not following how there's much to be learned from that.Ignored
DislikedI was confused, though, about how you learn from shiko's mistakes. That's only true if he chooses to share his mistakes, and many traders tend to highlight the positive trades and minimize mistakes, so I'm not following how there's much to be learned from that.Ignored
DislikedMay be it is uptrend but may be it is just a retracement. Check the bigger pictureIgnored
DislikedGood luck with that.
What I meant by that was I learn from other people's experiences, very rarely have I had to learn something from my own experiences (while I have learned a lot from my own). It's like this, here's a scenario.
Guy 1 touches something that is hot, say "Ouch hot"
Guy 2 "Really?" and touches it.
I am not guy 2.Ignored