lol, well said hilmy83. I cannot control my laugh.
people are ahhhh!!!!! who knows about this guy, Walid.
is he still in FF or quit. why someone responded after 10+ years?????
I am sure, low demo trading capital is always helpful for learning! I see, you have practiced with a 25000$ trading balance, that was really a big amount of money! I wanna advice all of new traders, to practice with a small demo capital (below 1K)! If you are success then start your live trading with the same capital!
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Joined Mar 2017
|304 Posts
Yes, no way to deny. When a new forex trader kicks off demo account with large amount, he can’t control the motions and trade at random. As a result , lost confident and learn nothing.
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Joined Mar 2017
|205 Posts
Yes, it is. But we have to practice in demo how to handle a large amount which can be supportive in a live trading . for that reason we have to keep a mature trading mentality in demo .
Trade with small balance is a good decision. But not agree in demo, because traders can’t hold the interest in here for a long time, so they give up. That’s why I think we have to move micro account instead of it.
The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion. All the world's combined stock markets don't even come close to this. But what does that mean to you? You must need to figure this answer. Because many of new traders come here but they do not have goals, even they do not know why are they here. Take a closer look at forex trading and you may find some exciting trading opportunities unavailable with other investments. I suggest you to start with small investment, and tryout couple of brokers demo trading account to know which one suit you most.
The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion. All the world's combined stock markets don't even come close to this. But what does that mean to you? You must need to figure this answer. Because many of new traders come here but they do not have goals, even they do not know why are they here. Take a closer look at forex trading and you may find some exciting trading opportunities unavailable with other investments. I suggest you to start with small investment, and tryout...
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Start trading with small investment is really a good suggestion, because market is too much volatile to predict something especially for the newcomers. but by using demo account it is quite difficult to make sure right broker choosing.
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Joined Mar 2017
|629 Posts
As a new Forex trader, you should start with a demo! What about your demo trading experience? What was your demo trading capital! You should select your trading target according to your demo success!
Seems the same as learning anything really, well thats been my experience anyway. Once you get to a certain level at trading you can make money, or carry out a learned job with a reasonable degree of competence, does not mean you will last or end up a consistant full time trader but you will be good enough to give it a go and it should not cost you the earth.
Apart from actually doing it, how would you find out if your good enough (intra day day trading)
Whether you think you can, or you think you can't,you're right. H.F.
Yes, strategy is a key point here! I think, new traders should start their live trading when they have 6 months consistent result in the demo! Judging a trading strategy too early is a common mistake by the new traders.
{quote} Yes, strategy is a key point here! I think, new traders should start their live trading when they have 6 months consistent result in the demo! Judging a trading strategy too early is a common mistake by the new traders.
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Yes it’s a good decision, but the result we get from demo, practically not works when trading in a live account.
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Joined Dec 2017
|106 Posts
At the beginning, investing big money is not a good idea. Don't invest much money unless you are making consistent profit in live trading foe a good period of time. All the other plans seem ok. With time you will understand the rest. Focus on being skilled. Wish you all the best.
I'm on several demo platforms as I am testing brokers out and really enjoying it and learning so much, its a real blessing having at least a demo account to learn and even work on you emotions.
I'm on several demo platforms as I am testing brokers out and really enjoying it and learning so much, its a real blessing having at least a demo account to learn and even work on you emotions.
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All the best, hope you’ll cover the technical as well as fundamental very soon; please don’t open your real account unless completing your task on demo.
{quote} Your initial investment should be an amount that you are prepard to lose. A lot of people believe that you should not risk more than 1% to 2% of your account on a single trade and 5% to 6% of your account on total open positions.
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money management its actually just a time saver so you don't have to deposit your money to the broker all the time
if you risk 100% and it failed, it's time consuming to reload funds
you deposit $1000 and you risk $100
the trade goes on for a week
so there's $900 sitting in you account doing nothing for a week
depositing $100 + margin required and risk 100% have the same effect
the main point of money management, to make it simple, is how much are you risking for a particular move that you're comfortable losing and enough for your system to shows it's edge
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Joined Apr 2018
|459 Posts
i am not a new in Forex trading but of course in this community . i have come into this for increasing my trading experience very rapidly , because i know so many professional traders and senior adviser always available in here and they are very supportive for beginners level by real knowledgeable advice. hope, everything will be fine .
Hello everyone, I am new in here and to say the least, this is the best source of forex knowledge I have come across on the internet, I don’t think I will waste my money on buying books unless its written by a member of this forum, ty all for contributing your views and trading ideas, I would like to thank Jim for his chart analysis, I really dint understand much about charts until I read that thread. Ok I have a few points I would like to clear before I go trading live. It’s worth mentioning here that I have been on several demo accounts with different...
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It’s really tough to answer all of your questions! Know why? Because, I have no idea about your trading skill! By the way, my advice is, don’t expect here any unrealistic result! You should set your daily & monthly target according to your real performance on demo.
