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  • #1,261
  • Nov 11, 2018 7:03am Nov 11, 2018 7:03am
I have also been on this journey for the past 5 year 2 months.

Only stopped losing some 1 year 4 months back...and showed only consistent profit in the past 4 months.

Just to motivate you, i had a 13k drawdown but didn't give up.

Passion for the markets drive me and it has been fulfilling at the same.
  • #1,262
  • Nov 11, 2018 10:44pm Nov 11, 2018 10:44pm
Quoting mlawson71
{quote} That's true. I've seen so many comments like "I have been trading for a month and I have been profitable, should I move onto a live account?". No. Please, don't do it. A month is not nearly enough time to figure out whether you are consistent or not. The market changes during the year, a strategy that worked during the summer may not work as well during the winter, and so on and so forth. Don't be hasty when you invest your money.
true. just because you are trading profitably in demo, doesn't mean you'll profit in live account as well. for me, starting months on live were not that great, but eventually with time, i've been much more stable .
  • #1,263
  • Nov 12, 2018 2:28am Nov 12, 2018 2:28am
There is a huge distance between live and demos result , according to me, it’s all about psychology , when trading in demo there is no emotions but in live we can’t avoid emotions that make different result between two.
  • #1,264
  • Nov 12, 2018 3:02am Nov 12, 2018 3:02am
Quoting minnieme
{quote} true. just because you are trading profitably in demo, doesn't mean you'll profit in live account as well. for me, starting months on live were not that great, but eventually with time, i've been much more stable .
I agree completely. That's the only reason the difference took place. It takes some time to develop the good and stable psychology which can be supported by managing the risk well (this one cannot ignore).
  • #1,265
  • Nov 12, 2018 6:17am Nov 12, 2018 6:17am
the result between demo and live we get always far different , as a newcomer i was much profitable with BB in demo but in demo it not worked as like demo, got upset and surprised.
  • #1,266
  • Nov 12, 2018 8:29am Nov 12, 2018 8:29am
Why did the difference occur - because you were trading differently on the live account or because the live account performed differently? Or both?
  • #1,267
  • Nov 13, 2018 4:02am Nov 13, 2018 4:02am
Quoting ProPactor
{quote} I agree completely. That's the only reason the difference took place. It takes some time to develop the good and stable psychology which can be supported by managing the risk well (this one cannot ignore).
True, the psychological mindset is very different between a demo and a real one. Not to say that demo is useless, quite the opposite in fact. However, a good way to overcome some of the psychological hurdles when switching to live is via algo trading / systematic trading. It removes the doubts and might prevent you from errors like closing trades to soon.
  • #1,268
  • Nov 13, 2018 4:07am Nov 13, 2018 4:07am
Quoting NathanAstel
the result between demo and live we get always far different , as a newcomer i was much profitable with BB in demo but in demo it not worked as like demo, got upset and surprised.
it's not about a demo or live it's about the market & Market is constantly changing, If you backtest your strategy we will see that in 1 year you are profitable but in another year you are a loser.
  • #1,269
  • Nov 13, 2018 9:13am Nov 13, 2018 9:13am
I think it is important to make sure that the demo account the broker is offering is close in terms of performance to their live accounts. However, I do agree, the market is always changing.
  • #1,270
  • Nov 14, 2018 8:09am Nov 14, 2018 8:09am
Market moves at random most of the time but it has own style of course.
  • #1,271
  • Nov 14, 2018 9:09am Nov 14, 2018 9:09am
Why do you think it moves at random? Both technical and fundamental analysis work, if with varying degrees of success depending on the strategy a trader uses, if movements were random wouldn't we all be gambling?
  • #1,272
  • Nov 14, 2018 11:13pm Nov 14, 2018 11:13pm
Quoting mlawson71
{quote} That's true. I've seen so many comments like "I have been trading for a month and I have been profitable, should I move onto a live account?". No. Please, don't do it. A month is not nearly enough time to figure out whether you are consistent or not. The market changes during the year, a strategy that worked during the summer may not work as well during the winter, and so on and so forth. Don't be hasty when you invest your money.
A must LIKE reply! I think, your comment should set as pin post on the beginners section!
  • #1,273
  • Nov 16, 2018 9:27am Nov 16, 2018 9:27am
Quoting DarrenLehma
{quote} A must LIKE reply! I think, your comment should set as pin post on the beginners section!
Thank you so much for the kind words. I simply spoke from (really bad) personal experience. If my comment helps someone not to make the same mistakes I did that would be great!
  • #1,274
  • Nov 19, 2018 6:24am Nov 19, 2018 6:24am
Quoting mlawson71
{quote} Thank you so much for the kind words. I simply spoke from (really bad) personal experience. If my comment helps someone not to make the same mistakes I did that would be great!
Of course, you are doing great job by sharing your experience! Just keep it up mate.
  • #1,275
  • Nov 19, 2018 7:13am Nov 19, 2018 7:13am
Quoting mlawson71
Why do you think it moves at random? Both technical and fundamental analysis work, if with varying degrees of success depending on the strategy a trader uses, if movements were random wouldn't we all be gambling?
large percentage of moves in forex are random and forex is gambling. If you want to be successful in this game, you have no other choice but to sink this truth deep inside your conscience no matter how fierce your ego refuses and denies the fact that trading forex is indeed gambling.
As Above, So Below
  • #1,276
  • Nov 20, 2018 11:08am Nov 20, 2018 11:08am
Quoting tashkent
{quote} large percentage of moves in forex are random and forex is gambling. If you want to be successful in this game, you have no other choice but to sink this truth deep inside your conscience no matter how fierce your ego refuses and denies the fact that trading forex is indeed gambling.
True; even I lost my momentum for couple of tomes but I have comeback every time. Actually, initially, it was really tough to check the emotions & ego.
  • #1,277
  • Nov 21, 2018 9:39am Nov 21, 2018 9:39am
Quoting DarrenLehma
{quote} True; even I lost my momentum for couple of tomes but I have comeback every time. Actually, initially, it was really tough to check the emotions & ego.
Do you think you've made progress in that regard for the past few months or even years?
  • #1,278
  • Nov 23, 2018 2:12pm Nov 23, 2018 2:12pm
Quoting tashkent
{quote} large percentage of moves in forex are random and forex is gambling. If you want to be successful in this game, you have no other choice but to sink this truth deep inside your conscience no matter how fierce your ego refuses and denies the fact that trading forex is indeed gambling.
I like this quote. He is being honest. However, it is important to define the context. Forex is gambling if you trade like an amateur retail trader. You will almost never make money by just staring at the charts all day every day.

That being said, the professionals consistently make money. They have the resources, the experience, the skills and the knowledge to be consistent. They have worked very hard to be where they are. You won't beat them by looking at the charts.
  • #1,279
  • Nov 24, 2018 6:53am Nov 24, 2018 6:53am
Quoting split_unit
{quote} I like this quote. He is being honest. However, it is important to define the context. Forex is gambling if you trade like an amateur retail trader. You will almost never make money by just staring at the charts all day every day. That being said, the professionals consistently make money. They have the resources, the experience, the skills and the knowledge to be consistent. They have worked very hard to be where they are. You won't beat them by looking at the charts.
Actually, trading knowledge is the key; so which traders have enough trading knowledge & experience; they can make money here quite consistently, whatever the background it is, that doesn’t mean much.
  • #1,280
  • Nov 25, 2018 9:29am Nov 25, 2018 9:29am
don't give up if you want to be a successful trader in forex. You should get more practice and learn about forex trading strategy.
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