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The brutal truth of day trading

  • #3,581
  • Sep 21, 2021 2:48pm Sep 21, 2021 2:48pm
Quoting soultrader
{quote} demo trading is pointless - first of all it's a false data feed, not the same as a real feed - how do i know this? let's just say i do. in demo accounts you will have wins that don't actually exist in the real market. demo trading is pointless because as you say it does not prepare you for real trading - the only point to a demo account is to test a theory, nothing else. you cannot grow as a trader on a demo account.
lol - ok.

I wont entertain this pointless comment.

Hopefully your own trading has more proof then people just having to believe you because you say "let's just say i do"

Best of luck regular poster - quality

Edit: oh you have a Telegram account.... that says it all LOL
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #3,582
  • Sep 21, 2021 5:02pm Sep 21, 2021 5:02pm
Quoting RickM
{quote} I’m thinking that post may be the winner of the stupidity award today. Wrong in so many ways, I don’t know where to start.
i will vote with you mate
people leave, but this thread will go on for ever
  • #3,583
  • Sep 21, 2021 5:19pm Sep 21, 2021 5:19pm
Quoting HiddenGap
{quote} {quote} I have to take the other side on this one, Rick. One of the few, if not only, advantages of trading forex is that you can open an account with as little as $50.00. Most futures brokers require a minimum of $2,000-$5,000. I don't know about stockbrokers, but I do know the PPT day trading rules require an account with at least $20,000 (yes, there's a way around this, but I don't trade stocks, so let's move on). The point is that a would-be trader can open a forex account for about the cost of two weeks worth of Starbucks (I don't drink...
Knowledge before real
i take the demo side , first it gives you a good idea how forex works , if you have a real account at the start you end up piddling your pants because you dont know what you are doing right from the start , what is a buy or sell on a chart how do i put trade on the very basic’s you encounter on a chart, on real without the knowledge its doomed to failure so baby steps = demo , after you have mastered demo real account follows,

without the knowledge, you become broker fodder
people leave, but this thread will go on for ever
  • #3,584
  • Sep 21, 2021 5:24pm Sep 21, 2021 5:24pm
Quoting Aussi
{quote} Knowledge before real i take the demo side , first it gives you a good idea how forex works , if you have a real account at the start you end up piddling your pants because you dont know what you are doing right from the start , what is a buy or sell on a chart how do i put trade on the very basic’s you encounter on a chart, on real without the knowledge its doomed to failure so baby steps = demo , after you have mastered demo real account follows, without the knowledge, you become broker fodder
For such a successful trader (in your mind) your command of the English language is appalling,you come across as an uneducated yokel.......
  • #3,585
  • Sep 21, 2021 5:25pm Sep 21, 2021 5:25pm
Quoting gepards
{quote} I don't see so much wrong in his post. Rick, maybe you can point out what you see wrong? People write posts for... themselves. Comunity just helps to formulate ideas/questions. Collective thinking/learning here. One (not the last... because there are no limits) learning level is when you teach or try to explain to somebody. This is when you learn a lot. Not that students who asked question... They learned their part while wrote questions... you learn when you write answers. So Rick, what you could learn by writing what you saw wrong? ...
i answered your pointed question for all to see its about the basic,s, before a surgeon removes a brain he needs to learn how to do it
Knowledge before real
i take the demo side , first it gives you a good idea how forex works , if you have a real account at the start you end up piddling your pants because you dont know what you are doing right from the start , what is a buy or sell on a chart how do i put trade on the very basic’s you encounter on a chart, on real without the knowledge its doomed to failure so baby steps = demo , after you have mastered demo real account follows,
people leave, but this thread will go on for ever
  • #3,586
  • Sep 21, 2021 5:48pm Sep 21, 2021 5:48pm
Quoting pipibrasci
{quote}
Hi Mate

Perhaps I may have seemed rude but hear me out for one minute.

I know the following facts because I have developed EAs which required me to Demo test hundreds of trading strategy's on 7 laptops continuously over a 4 year period on 28 Forex pairs.

I found the following facts by testing demo accounts, there is no other way I could have found the truth about trading.

1.. Pairs tend to be favourable for either breakout strategy's or reversal strategy's - you need to know what pair to trade.
2.. Pairs have favourable times to trade any strategy, and unfavourable times to never trade any strategy.
3.. Pairs are favourable to trade price action strategy's at certain times, most aren't.

It gets down to this, the brutal truth about day trading.
For any breakout strategy to be successful, we need high density of orders at point of breakout and for 15 pips thereafter. If the density of liquidity is to thin, it can't provide enough signals for the big players to encourage the move. They will withdraw liquidity and stop the move.

For any reversal strategy to be successful, we need low density of orders at point of breakout within 15 pips. This way it won't attract the interest of big players and there orders will most remain as iceberg orders, fake.

Demo testing platforms will be able to identify what pairs are suitable for your strategy - trading live will just waste your money.
Trading thin liquidity at the boundary of the charts
  • #3,587
  • Sep 21, 2021 7:33pm Sep 21, 2021 7:33pm
And what is wrong with having strong emotions while trading?.

Whether I laugh, cry, scream, shout, kick a hole in my trading den wall (one there from January), I embrace those emotions to make me a better trader.

Trading makes me feel alive, I thrive on both fear and greed as it allows me to trade aggressively with total concentration when scalping.

Its like a light bulb being turned on when the market unexpectedly catch’s me out. I go to Zombie mode, it’s total concentration on the volume and delta readings - god help any family member who enters the den for the next 30 minutes.

I feel like a lion on the prowl, I trade with a edge I don’t have when not under stress.

Lose a trade early and the games starts for real.

This post may win the stupidity award, hope so.
Trading thin liquidity at the boundary of the charts
  • #3,588
  • Sep 21, 2021 7:45pm Sep 21, 2021 7:45pm
Quoting jezzode
{quote} lol - ok. I wont entertain this pointless comment. Hopefully your own trading has more proof then people just having to believe you because you say "let's just say i do" Best of luck regular poster - quality Edit: oh you have a Telegram account.... that says it all LOL

ok jizzode

I didnt come on and insult you but then i didnt need to did i. you managed that yourself. good luck.
yes i have tgram, twatter, myfxbook, youtube everything. please dont come along though because it's only for people who want to learn. - errm with real money, not monopoly money
https://linktr.ee/Soultrader
  • #3,589
  • Sep 21, 2021 8:37pm Sep 21, 2021 8:37pm
Quoting edge540
{quote} For such a successful trader (in your mind) your command of the English language is appalling,you come across as an uneducated yokel.......
cheap shots from a so called dingbat who losses continue week after week and feeding his brokers , thats my cheap shot at you
people leave, but this thread will go on for ever
  • #3,590
  • Edited 10:43pm Sep 21, 2021 10:19pm | Edited 10:43pm
Quoting Aussi
{quote} Knowledge before real i take the demo side , first it gives you a good idea how forex works , if you have a real account at the start you end up piddling your pants because you dont know what you are doing right from the start , what is a buy or sell on a chart how do i put trade on the very basic’s you encounter on a chart, on real without the knowledge its doomed to failure so baby steps = demo , after you have mastered demo real account follows, without the knowledge, you become broker fodder
The only issue with demo accounts, is that if you trade them only for too long, you start to believe that you are actually trading real accounts. And the next step is that you increase the lots and reach 100, 200, 500, even 1000 lots per trade. And then you open a (fantasy) thread and start to post demo trades and truncated demo statements claiming that they are real. And then other demo traders join that Fantasy Thread and post their imaginary trades and statements. And that's the funny part.

The sad part is that (many) other traders willing to learn, are wasting their time and money following these demo/imaginary traders. Maybe this is one of the brutal truths of trading.
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #3,591
  • Sep 21, 2021 11:52pm Sep 21, 2021 11:52pm
Quoting bfx17
{quote} The only issue with demo accounts, is that if you trade them only for too long, you start to believe that you are actually trading real accounts. And the next step is that you increase the lots and reach 100, 200, 500, even 1000 lots per trade. And then you open a (fantasy) thread and start to post demo trades and truncated demo statements claiming that they are real. And then other demo traders join that Fantasy Thread and post their imaginary trades and statements. And that's the funny part. The sad part is that (many) other traders willing...
It gets even funnier still when said people trading fantasy accounts forget they are trading fantasy accounts. To the extent that they are now adamant this is their real account and that they are now Jesus!
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #3,592
  • Sep 22, 2021 1:57am Sep 22, 2021 1:57am
Quoting jezzode
{quote} It gets even funnier still when said people trading fantasy accounts forget they are trading fantasy accounts. To the extent that they are now adamant this is their real account and that they are now Jesus!
Aussie is the biggest fantasy trader on the FF.
  • #3,593
  • Sep 22, 2021 3:29am Sep 22, 2021 3:29am
I really dont think it matters that much

If you are new, Use demo to get used to the software and how forex works

Using a tiny live account after this will help slightly discipline you a bit more than a 50k demo account for example as you are tempted to use bigger sizes

If you do get the opportunity to trade a large account this is were the psychology kicks in i believe as when you set your risk and suddenly your set to lose 10k, 20k or even more etc and the trade starts to go against you and your down xxk all previous demo or tiny live accounts will not have given you this feeling
  • #3,594
  • Sep 22, 2021 8:00am Sep 22, 2021 8:00am
Quoting Aussi
{quote} i answered your pointed question for all to see its about the basic,s, before a surgeon removes a brain he needs to learn how to do it Knowledge before real i take the demo side , first it gives you a good idea how forex works , if you have a real account at the start you end up piddling your pants because you dont know what you are doing right from the start , what is a buy or sell on a chart how do i put trade on the very basic’s you encounter on a chart, on real without the knowledge its doomed to failure...
agree if trading manual demo is good. but with realistic lots... according to capital which will be used when go real. no point on demo with 1mil $ if real you have only 1k $.

automated trading does not require demo period anymore as MT5 has forward test possibilities in the strategy tester. I run all my EAs without a demo.

still when started to code EAs there were issues... when put EA on real and manually adjusting parameters then there might be errors. once by mistake one of my EAs lost entire account in 5 minutes - because of the wrong parameters.

now i never put EAs parameters manually on real account - I export from strategy tester and then import in real account. no more mistakes.

I split my capital versus n accounts this is an additional step to protect from mistakes.

but it is ok to learn with real cent account... 1 usd is 100 cents. Can open 0.01 lots with that. better cent account than demo account for learning. real is real. you will feel different emotions. even with 1$ cent account.

I do use demo account to test darwinex investment... I invest in several signals with demo money more than 1 year now already.
  • #3,595
  • Sep 22, 2021 6:29pm Sep 22, 2021 6:29pm
Quoting gepards
{quote} agree if trading manual demo is good. but with realistic lots... according to capital which will be used when go real. no point on demo with 1mil $ if real you have only 1k $. automated trading does not require demo period anymore as MT5 has forward test possibilities in the strategy tester. I run all my EAs without a demo. still when started to code EAs there were issues... when put EA on real and manually adjusting parameters then there might be errors. once by mistake one of my EAs lost entire account in 5 minutes - because of the wrong...
i agree the emotive side is a problem i also experienced it when i first started , i do smile about it occasionally
people leave, but this thread will go on for ever
  • #3,596
  • Sep 22, 2021 6:33pm Sep 22, 2021 6:33pm
Quoting edge540
{quote} Aussie is the biggest fantasy trader on the FF.
you're my huckleberry, how nice of you
people leave, but this thread will go on for ever
  • #3,597
  • Sep 24, 2021 11:06pm Sep 24, 2021 11:06pm
Quoting gepards
{quote} agree if trading manual demo is good. but with realistic lots... according to capital which will be used when go real. no point on demo with 1mil $ if real you have only 1k $. automated trading does not require demo period anymore as MT5 has forward test possibilities in the strategy tester. I run all my EAs without a demo. still when started to code EAs there were issues... when put EA on real and manually adjusting parameters then there might be errors. once by mistake one of my EAs lost entire account in 5 minutes - because of the wrong...
Yeah, there’s no point lingering on with a demo account when things get real only with a real acc, no matter if it’s $5 , 50 or 500. To be devoid of emotions is the hardest thing for a trader and that practice cannot happen in a demo acc under any circumstance.
  • #3,598
  • Sep 24, 2021 11:21pm Sep 24, 2021 11:21pm
Quoting leoclarke
{quote} Yeah, there’s no point lingering on with a demo account when things get real only with a real acc, no matter if it’s $5 , 50 or 500. To be devoid of emotions is the hardest thing for a trader and that practice cannot happen in a demo acc under any circumstance.
Well my time is important, whether I trade a demo account while testing a new strategy or trading it live - I have emotions both ways.

Of course if you don’t value your time, go live and cross your fingers.
Some people here forget there is a very handy tool on MT4 called a strategy tester, well worth your time.
Trading thin liquidity at the boundary of the charts
  • #3,599
  • Sep 25, 2021 3:22am Sep 25, 2021 3:22am
Quoting RickM
{quote} Well my time is important, whether I trade a demo account while testing a new strategy or trading it live - I have emotions both ways. Of course if you don’t value your time, go live and cross your fingers. Some people here forget there is a very handy tool on MT4 called a strategy tester, well worth your time.
That's what puzzles me when traders debate about demo vs live trading and the emotions. I value my time and energy invested whether I use the demo or live account. I can never get back the time (investment) lost and that's what makes me see the demo and live trading the same. It's not just about the money invested - it is also about the time spent to master the craft. I take the time spent on demo trading (the sleepless nights of studying, research, practicing, etc.) in a serious way. Demo trading can bring as much emotions as live trading if you factor in the opportunity cost of the time spent working to master the skills of trading. Some of us are not here to play games or look at trading as a hobby.

Time is money.
  • #3,600
  • Sep 25, 2021 9:11am Sep 25, 2021 9:11am
Quoting Pumi
Some of us are not here to play games or look at trading as a hobby. Time is money.
That's why I take issue with all the misleading posts on forum. I take the trouble to post to highlight them that might offend some people.

The more important thing I do is to post live calls. This way members who are interested can follow the call to "see" for themselves as the market unfold before their eyes. Then ask the question why they did not "see" it before the move happen ?

I also posted material and education videos how to think in this forex market.

Anyway I won't be posting anything anymore. This forum is too toxic and too stuck in their own ways.
Waste my time.
Know what you trade
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