Nice performance thus far. However, I must caution you that spending time developing a 'demoproven' strategy is potentially more money and time wasted.
Hear me out:
Lets say you put in hard work in developing a sound strategy based on fundamentals on a demo account. 2 things can happen:
1) Your strategy pans out well and your demo strategy you will trade in real mode now.
2) Your strategy doesn't pan out and you have to start making a new strategy. Real money saved.
Well it is tempting to think that both scenarios 1 and 2 are win-win.
However, if you delve deeper, it's not so great.
In both cases you spent something: time.
This time you could have spent making money. ...or losing money, you might say.
However, chances are if you are going to lose money you will lose money even with your 'demoproven' strategy. There are just times when every strategy will fail. And there are times when your hard work will be rewarded. Now, if you put in your best work, your odds of making money on demo and real account are actually equal.
By not trading real money, you make sure you make no money. And what's worse you make sure you spend time, which in the scheme of things is the fuel which compounds your investments.
I just thought I throw that out there, as it goes against every bit of advice you read about on these boards. Anyhow, just my 2 cents, and a different view that is all.
Hear me out:
Lets say you put in hard work in developing a sound strategy based on fundamentals on a demo account. 2 things can happen:
1) Your strategy pans out well and your demo strategy you will trade in real mode now.
2) Your strategy doesn't pan out and you have to start making a new strategy. Real money saved.
Well it is tempting to think that both scenarios 1 and 2 are win-win.
However, if you delve deeper, it's not so great.
In both cases you spent something: time.
This time you could have spent making money. ...or losing money, you might say.
However, chances are if you are going to lose money you will lose money even with your 'demoproven' strategy. There are just times when every strategy will fail. And there are times when your hard work will be rewarded. Now, if you put in your best work, your odds of making money on demo and real account are actually equal.
By not trading real money, you make sure you make no money. And what's worse you make sure you spend time, which in the scheme of things is the fuel which compounds your investments.
I just thought I throw that out there, as it goes against every bit of advice you read about on these boards. Anyhow, just my 2 cents, and a different view that is all.
. A Daily close below 1230 is something concerns me and NFP ahead. Bit unclear to me. Do you see any chance of 1500 Chief?
And cg to you too!
