Yea, the biggest obstacle are emotions. But i think those demons (fear, greed etc.) should go away with experience, 'cause experience and good results give you more confidence.
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QuoteDislikedI have been trading (VERY) successfullly for 2/3 years now on a demo account.
Turned 3k in to 12k or there abouts (3k initial deposit),leverage (from what I remember 200/1).(lot size 0.1/0.2 MAX)
Dislikedpsychological as was mentioned, before
and sometimes orders will be difficult to execute on news, re quotes, stop hunting,
remember everyone is in it for the money
and your broker mimics the market, so the money YOU MAKE COMES OUT OF HIS POCKET.
of course there is ways to control his risks, i hear they keep 2 sets of books, but be aware that they wont let you make them go brokeIgnored
DislikedHi everyone
I have been trading (VERY) successfullly for 2/3 years now on a demo account.
Turned 3k in to 12k or there abouts (3k initial deposit),leverage (from what I remember 200/1).(lot size 0.1/0.2 MAX)
I keep hearing how demo accounts differ from real live trading but how?
Is it purely emotion(to real money) or the actual data you recieve once live(speed,slippage etc)
Can I also ask(I use forex meta trader 4) ,does the demo for this give me a margin call)if I were to go in to a negative territory.Just wondering if my demo account...Ignored
DislikedI think that the main differences are psychologically based. As soon as you start trading with real money, risks go up and you aren't playing the spreads the same way you were in the past.
This is why I usually advise transitioning to micro lots first to minimize risk and then moving up accordingly. This is a great way to build your confidence again on a small step up rather than a giant leap.
I have heard, though, that some brokers demo account and live account are not run the same which could effect the win percentage of bots, IMOIgnored
Disliked
What about No-Dealing Desk (STP or ECN+STP), like FXCM (i hear their micro account is DD) or Oanda, are we playing with the market or the brokers, meaning they make money out of spread & commissions but wining/losing is from the market? Which has less conflict of interest.Ignored
Dislikedwell I started live today.
and lost a few pips.
got into a few more trades and started revenge trading.
for me its been purely emotional. i'll let you know what else happens.Ignored
QuoteDislikedI am about to go live on a £2k account,not my money