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In fundamental analisys sufficient

  • #1
  • First Post: Dec 13, 2006 1:52pm Dec 13, 2006 1:52pm
Hi,

I have some months running a Demo account with Oanda and im profitable. Im just looking at the special news(Fundamental Analisys) for make my trades and look the forecast and put my trades. When i say that im profitable is that i catch 10-20-25 pips per trade. Also i use some money management techniques for create the custom for the moment that i convert my account to real money. For example i put my take profit to get 20 pips and my stop loss at 10 pips..

In conclusion my question is if based in your experience i can continue just working with the fundamentals analysis and money management to make my trades ??, becuase now im profitable in a demo account...

Regards

Bart
  • #2
  • Dec 13, 2006 2:58pm Dec 13, 2006 2:58pm
Quoting gfiguereo
Hi,

I have some months running a Demo account with Oanda and im profitable. Im just looking at the special news(Fundamental Analisys) for make my trades and look the forecast and put my trades. When i say that im profitable is that i catch 10-20-25 pips per trade. Also i use some money management techniques for create the custom for the moment that i convert my account to real money. For example i put my take profit to get 20 pips and my stop loss at 10 pips..

In conclusion my question is if based in your experience i can continue just working with the fundamentals analysis and money management to make my trades ??, becuase now im profitable in a demo account...

Regards

Bart
I think you will find that trading this way in a live account is totally different than using a demo.

I would not suggest trading this way but I know that there are those on this forum who love trading the news so if you got the stomach for it then good luck to you.

Monaco
  • #3
  • Dec 14, 2006 2:53pm Dec 14, 2006 2:53pm
Thanks Monaco for your answer...

Im just tryng to understand which are all the pieces that i need to take into account to be a good and consistent trader.

What do you recomend especifically ?
In wich way do you recomend to trade ?

Thanks in advance for all of your help,

Best Regards,

Bart
  • #4
  • Dec 14, 2006 6:07pm Dec 14, 2006 6:07pm
Quoting gfiguereo
Thanks Monaco for your answer...

Im just tryng to understand which are all the pieces that i need to take into account to be a good and consistent trader.

What do you recomend especifically ?
In wich way do you recomend to trade ?

Thanks in advance for all of your help,

Best Regards,

Bart
Well I am not sure that I would recommend a specific way to trade. Each trader is different as to what style or method is most suited to them. What I would suggest though is that as you are still in the demo phase then experiment with a few ideas and strategies - try to keep it simple. Take time to really consider what makes a good trading system and gradually start to develop your own style. Trading success comes from discipline, risk management and a logical method. Most new traders tend to ignore the importance of discipline and risk management and spend the majority of their time looking for a method to give them the perfect entry. No method is perfect - most methods will do well when the market trends and will struggle when the market is range bound. It is discipline and risk management that will make you win in the end.

Well that will do for now - good luck and keep learning.

Monaco
  • #5
  • Last Post: Dec 15, 2006 12:57pm Dec 15, 2006 12:57pm
I have that demo about and i'm about about to fund it.

Taking 20 pips profit is ok. In my opinion you should aim for more since OANDA widens their spread alot during news realases.

You'll get your money and times worth that way.
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