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Got advice for a rookie?

  • #81
  • Oct 1, 2020 9:29am Oct 1, 2020 9:29am
Don't wait for a negative trade to turn into your favor if you keep it open long enough.
  • #82
  • Oct 2, 2020 2:15am Oct 2, 2020 2:15am
Quoting AlexImam
demo account is more appropriate for the traders who are newcomers , but generally take this trading place as casino , they trade at random in there and got nothing from there.
we cant focus in demo trading because no emotions in there and no real money , for that reason i i prefer live account with minor balance , it can be a loss project but of course very supportive to make sure live trading knowledge and experience.
  • #83
  • Oct 2, 2020 3:47am Oct 2, 2020 3:47am
no difference there is between demo and live ,
its all about psychology issue , nothing without it.
  • #84
  • Oct 2, 2020 11:49am Oct 2, 2020 11:49am
Hello all,

I'm new to Forex, and to this site. I cant start a post yet, so I thought I may comment on this post. I'm using the Demo MT4 account at the moment, I want to show a consistent profit on this first before I move to a small live account. My question is, what do people think of IG ? That's who I'm using at the moment.

Thanks, and looking forward to learning as much as possible on here.

Paul
  • #85
  • Oct 2, 2020 12:22pm Oct 2, 2020 12:22pm
Quoting MarkFxAnde
{quote} we cant focus in demo trading because no emotions in there and no real money , for that reason i i prefer live account with minor balance , it can be a loss project but of course very supportive to make sure live trading knowledge and experience.


FINALLY SOMEONE WITH SENSE


demo trading does not teach you the 2 things that is the most important in trading emotions + psychology. How many demo traders go live and fail... but yet were "killing it in demo"

it is just not the same

demo should be used to learn the platform, putting on trades etc thats it and then transition to a small live account with small position sizes
  • #86
  • Oct 2, 2020 7:24pm Oct 2, 2020 7:24pm
Quoting NathanAstel
no difference there is between demo and live , its all about psychology issue , nothing without it.
Sorry but you are dead wrong. There is a huge difference. Demo has no consequence and live does.

- Ric
Be humble or get humbled
  • #87
  • Oct 3, 2020 6:48am Oct 3, 2020 6:48am
There are some pretty tangible differences between demo and live. In demo the server connection and position execution, spreads, etc. may not be the same as on live.
  • #88
  • Oct 4, 2020 3:55am Oct 4, 2020 3:55am
Use moving averages + stochastic + historical s/r levels. FBS
Risk Management is of utmost importance!
  • #89
  • Oct 4, 2020 5:08am Oct 4, 2020 5:08am
Quoting AlexImam
demo account is more appropriate for the traders who are newcomers , but generally take this trading place as casino , they trade at random in there and got nothing from there.
Yes demo is appropriate for new traders. And at the same time demo account needs to use for learning purpose not to do random trades. They should use to find out how any strategy works.
  • #90
  • Oct 6, 2020 12:02am Oct 6, 2020 12:02am
in demo account we the traders always use our trading strategies , its very supportive to increase trading performance , but in practical situation is totally different , the result we take from demo actually not works in a real account .
  • #91
  • Oct 6, 2020 12:06am Oct 6, 2020 12:06am
Quoting MarkFxAnde
in demo account we the traders always use our trading strategies , its very supportive to increase trading performance , but in practical situation is totally different , the result we take from demo actually not works in a real account .
Yup, its different when real funds are involved on a live account. That's when emotions tend to intervene and everything seems different.
  • #92
  • Oct 6, 2020 12:10am Oct 6, 2020 12:10am
Identify your trading style, find a suitable broker and start trading.
  • #93
  • Last Post: Oct 6, 2020 12:14am Oct 6, 2020 12:14am
Keep it slow and steady.
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