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live vs. demo

  • #1
  • First Post: Oct 12, 2008 9:16pm Oct 12, 2008 9:16pm
Wow..I don't know why I'm not doing good in a live account when I have done great on demo accounts for the past year. This really gets to me...I have opened up 2 mini accounts and blown through both of them in about 3 months time. But when I was demo trading I was doing so well.. doubling and tripling my account size...How do you guys stay a float with live accounts?!?!? I try to no let emotions get involed and also have good MM skills...but still blown these accounts and now Im worst where I started from. Any advise would greatly be apprecated. Thanks in a advance.
  • #2
  • Oct 12, 2008 9:24pm Oct 12, 2008 9:24pm
Who is your broker? It sounds to me you are dealing with a dishonest broker (bucket shop).
  • #3
  • Oct 12, 2008 9:26pm Oct 12, 2008 9:26pm
fxcm
  • #4
  • Oct 12, 2008 9:34pm Oct 12, 2008 9:34pm
Quoting jboogie
fxcm
Same is with me. However, my dummy accounts never showed profit till last month when I was able to generate conistent results.
The Thief of Wall Street
  • #5
  • Oct 12, 2008 9:42pm Oct 12, 2008 9:42pm
Yep, FXCM is a bucketshop that will not let you make money. If your not using an expert advisor I would suggest efxgroup.com. If you are using an expert advisor use Interbankfx if you have a small account or Alpari if you have a larger account as they are better but do not allow nanolots like Interbank fx.
  • #6
  • Edited 10:05pm Oct 12, 2008 10:03pm | Edited 10:05pm
Quoting toyoproxo
Yep, FXCM is a bucketshop that will not let you make money. If your not using an expert advisor I would suggest efxgroup.com. If you are using an expert advisor use Interbankfx if you have a small account or Alpari if you have a larger account as they are better but do not allow nanolots like Interbank fx.
Dear Toyoproxo

Thanks a lot for a very good advice. One more thing ...... I run a demo, side by side a real account - from a different broker, to compae their quotes. I observed very little difference between theirr prices, moves, timings and momentum. It idicates that, apart from brokers, there may also be some other factors responsible for inconsistent results. In my case, these additional factors may be the $ level of risk I am willing to take in a real account vs a demo and the length of time I am willing to carry a loosing position in a real account. Thanks again for recommending some other trading sources.
The Thief of Wall Street
  • #7
  • Oct 12, 2008 10:19pm Oct 12, 2008 10:19pm
Quoting jboogie
Wow..I don't know why I'm not doing good in a live account when I have done great on demo accounts for the past year. This really gets to me...I have opened up 2 mini accounts and blown through both of them in about 3 months time. But when I was demo trading I was doing so well.. doubling and tripling my account size...How do you guys stay a float with live accounts?!?!? I try to no let emotions get involed and also have good MM skills...but still blown these accounts and now Im worst where I started from. Any advise would greatly be apprecated. Thanks in a advance.
Good chance that it's psychological jboogie. We've all been there.

Really, it can affect your decisions in ways that you may not be conscious of.

The only factor the choice of broker will have on you is if they don't allow small enough lot sizes for you to trade in a comfortable mind set. If you are trying to make life changing income on a piggy bank budget you're trying to go too fast.

Also, keep in mind that the system you were using may not work in the current environment.

Don't be disheartened. It can a be a long road to consistent profits. Take a step back and look re-test your methods.
Bundy's status today: "Waiting..."
  • #8
  • Oct 12, 2008 10:25pm Oct 12, 2008 10:25pm
Good call Chicky - -- . Look to the reasons within yourself. Don't go down the 'blame the broker path'.
O, that way madness lies; let me shun that;
No more of that. -From Shakespeare's King Lear, 1605

Quoting Chicky
Dear Toyoproxo

Thanks a lot for a very good advice. One more thing ...... I run a demo, side by side a real account - from a different broker, to compae their quotes. I observed very little difference between theirr prices, moves, timings and momentum. It idicates that, apart from brokers, there may also be some other factors responsible for inconsistent results. In my case, these additional factors may be the $ level of risk I am willing to take in a real account vs a demo and the length of time I am willing to carry a loosing position in a real account. Thanks again for recommending some other trading sources.
In trading, there is no bullshit. You either make money or you don't.
  • #9
  • Oct 12, 2008 10:41pm Oct 12, 2008 10:41pm
Quoting mrgreen
Good call Chicky - -- . Look to the reasons within yourself. Don't go down the 'blame the broker path'.
O, that way madness lies; let me shun that;
No more of that. -From Shakespeare's King Lear, 1605
Thanks Mrgreen. I beleive, one must try to find a way within the rules of the game. If my understanding is correct, we are the ones who make the rules for ourselves in this game, rest are just factors - favorable and unfavorable.
The Thief of Wall Street
  • #10
  • Last Post: Oct 12, 2008 10:44pm Oct 12, 2008 10:44pm
Quoting bundyraider
Good chance that it's psychological jboogie. We've all been there.

Don't be disheartened. It can a be a long road to consistent profits. Take a step back and look re-test your methods.
Thanks alot. And thanks for everyone's feedback
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