Best time to start live trading | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Newbie: Best broker, best platform - trading off charts? 4 replies

Best Multiasset and Best interconnected trading stations 0 replies

where's the best start to learn Price Action Trading?? 5 replies

Oanda 10$ live acc quick-start guide (for newbie to trade live safe) 13 replies

The Best Time To Start Analyze. 0 replies

Best time to start live trading

  • #1
  • First Post: Nov 27, 2006 5:05am Nov 27, 2006 5:05am
Hi.

I`d like to ask what is the best time to start live account on forex. Now, is end of year and I don`t know if is there any danger or is better to wait the new year.

Thanx for your comments.
  • #2
  • Nov 27, 2006 6:53am Nov 27, 2006 6:53am
Quoting rosso832
Hi.

I`d like to ask what is the best time to start live account on forex. Now, is end of year and I don`t know if is there any danger or is better to wait the new year.

Thanx for your comments.
Since I do not know your level, I will tell you about my plan. I will NOT be ready until I make at least 75% winning trades, stick with my plan, and use money management. I use my demo just as it would be real. I opened it with only $1000. If I can maintain it for 6 month, then I am ready.
I spend every waking moment reading about trading, mainly on this forum, but I also purchased some books, and of course I am always glued in front of some chart....
Of course that's my own rule, if you feel more confortable trading, go ahead. I still have to learn so much more.....

Good luck, and let us know.
Steve
  • #3
  • Nov 27, 2006 9:14am Nov 27, 2006 9:14am
in my opinion, you can trade ANYTIME, whether it's december or january. Provided that you have a sound risk management, it doens't matter what the market does, it all depends how you react to it.
  • #4
  • Nov 27, 2006 10:41am Nov 27, 2006 10:41am
In my opinion, the time of the year does not matter.
Trading is all the same troughout the year, but just make sure you have mastered the trading technics with your demo account.
I ADVISE THAT YOU DEMO TRADE FOR AT LEAST TWO MONTHS.
Dont be in a hurry to start trading Please.
It is well
  • #5
  • Nov 27, 2006 11:04am Nov 27, 2006 11:04am
Thanx for all replyes, one think what wanted to know is answered.

Does`t matther when I enter to live trading on forex over the year.

I really hope, I`am ready to do this and have enough konwledges about all business.Of course i have spend last few mounts on demo trading and it looks quit good for me. I think, the best source for me was FF therefore i would like to thank all mebers here and wish the best in future.

Thanx again & good luck
  • #6
  • Nov 27, 2006 7:18pm Nov 27, 2006 7:18pm
Quoting rosso832
Thanx for all replyes, one think what wanted to know is answered.

Does`t matther when I enter to live trading on forex over the year.

I really hope, I`am ready to do this and have enough konwledges about all business.Of course i have spend last few mounts on demo trading and it looks quit good for me. I think, the best source for me was FF therefore i would like to thank all mebers here and wish the best in future.

Thanx again & good luck
Wait till Jan 15 2007 or so. Then open a Live Account.
If you presently have a Demo Acct, I would Open a New Demo with the same {or close to} the amount of funds you intend to deposit. Then Trade it as close as you can to a Live Account and actually try to react to the losses the same as you would if they were real. {Impossible I know, but try}

The reason I say this is the Markets are about to become unstable as most of the Big Boys will be "Heading to The Hamptons" for the holidays starting in early December. Of course the will leave Mandates behind for the lowly Desk Jockies to follow but it is unlikely the will intiate new manouvers.

If you open your Live Account right now, you will be searching for Trades as opposed to letting them come to you.

Forex doesn't care when you become a Player but your accountant might.

Good Luck, You are about to embark on an exhilirating journey.
  • #7
  • Nov 27, 2006 7:37pm Nov 27, 2006 7:37pm
Nice approach PipSteve, it seems that taking it slow and realizing what a monster we are up against is the first step to joining the 5% as opposed to the 95% that fail. Keep it up.

Mateusz
  • #8
  • Nov 27, 2006 8:29pm Nov 27, 2006 8:29pm
Quoting zawodowiec
Nice approach PipSteve, it seems that taking it slow and realizing what a monster we are up against is the first step to joining the 5% as opposed to the 95% that fail. Keep it up.

Mateusz
Hey thank you, I appreciate the kind words. Yes you are right, pretty scarry monster, and soooo much to learn about how to read his every move....amazing.
But with the help of everybody here, I will succeed in the long run. And I hope to give back once I am a full time trader.
I am not looking for riches, just to be able to pay my bills, a little more, and most important, be my own boss and have more time for my wife!

Thank you again.
Steve
  • #9
  • Nov 27, 2006 8:32pm Nov 27, 2006 8:32pm
Quoting Bemac
Wait till Jan 15 2007 or so. Then open a Live Account.
If you presently have a Demo Acct, I would Open a New Demo with the same {or close to} the amount of funds you intend to deposit. Then Trade it as close as you can to a Live Account and actually try to react to the losses the same as you would if they were real. {Impossible I know, but try}

The reason I say this is the Markets are about to become unstable as most of the Big Boys will be "Heading to The Hamptons" for the holidays starting in early December. Of course the will leave Mandates behind for the lowly Desk Jockies to follow but it is unlikely the will intiate new manouvers.

If you open your Live Account right now, you will be searching for Trades as opposed to letting them come to you.

Forex doesn't care when you become a Player but your accountant might.

Good Luck, You are about to embark on an exhilirating journey.
This is just what I did a while back. I opened 2 accounts, one with $500, and more with $1000. Not sure yet with how much I will start, all I know is I will!!
I try to stick with my plan, but I notice that I am still a little trigger happy. Need to apply better discipline, and that's the tough part.

Thank you.
Steve
  • #10
  • Feb 26, 2007 1:34am Feb 26, 2007 1:34am
but don't trade it yet, wait a few weeks, and you'll begin to think "Aw,,, i miss that 120 pips,,,, oh miss another 300 pips,,,,, if only i do this or at least that, i'll be bla bla bla......"
if this symptom happened, you are not ready.......

well, I'm not ready too, so i only trade 1% of equity that time....
  • #11
  • Mar 3, 2007 10:31am Mar 3, 2007 10:31am
I'm a little bit different. I think it's a good idea to start live trading as soon as possible. Demo for a month to get used to your trading rules. Open a live account anytime of the year, start with USD 50-100 , find a broker that allow super small account like Oanda. You will learn alot and faster this way and if you burned the USD50 dollar, think of it as a super cheap tuition fee and move on. Most important thing is to learn from mistakes.
  • #12
  • Mar 3, 2007 11:22am Mar 3, 2007 11:22am
Quoting luqmanz
I'm a little bit different. I think it's a good idea to start live trading as soon as possible. Demo for a month to get used to your trading rules. Open a live account anytime of the year, start with USD 50-100 , find a broker that allow super small account like Oanda. You will learn alot and faster this way and if you burned the USD50 dollar, think of it as a super cheap tuition fee and move on. Most important thing is to learn from mistakes.
I don't think 1 month demo is enough to live.but everybody have different talent and potential.for those who can understanding the system well,i think they can go live in shorter time with proper money management.
  • #13
  • Mar 3, 2007 5:20pm Mar 3, 2007 5:20pm
Quoting amenlo9
I don't think 1 month demo is enough to live.but everybody have different talent and potential.for those who can understanding the system well,i think they can go live in shorter time with proper money management.
It's not about talent, it's about exposure. The most critical area of trading is discipline and psychology, and you need to trade live for that, no other way. Trading rules (MM and buy/sell method) are mostly very simple, you can pick any system on this forum or books and trade right away. Dont be afraid of losing USD 20-30 dollar in trading. You will never be a good trader if you're afraid of losing. Get used to losses. If you are still afraid, start with USD 10 lol. It will make the difference.

Read the book The Disciplined Trader by Mark Douglas before you start live trading.

Beginners should not focus on making money but focus on developing their trading capacity. (Techniques, psychology, MM and discipline).

In my view, anyone who has not started live trading is a noob even if they demo'ed for 10 years.
If you just started live trading, you're a noob who's growing exponentially.
  • #14
  • Last Post: Mar 5, 2007 7:49pm Mar 5, 2007 7:49pm
Quoting luqmanz
It's not about talent, it's about exposure. The most critical area of trading is discipline and psychology, and you need to trade live for that, no other way. Trading rules (MM and buy/sell method) are mostly very simple, you can pick any system on this forum or books and trade right away. Dont be afraid of losing USD 20-30 dollar in trading. You will never be a good trader if you're afraid of losing. Get used to losses. If you are still afraid, start with USD 10 lol. It will make the difference.

Read the book The Disciplined Trader by Mark Douglas before you start live trading.

Beginners should not focus on making money but focus on developing their trading capacity. (Techniques, psychology, MM and discipline).

In my view, anyone who has not started live trading is a noob even if they demo'ed for 10 years.
If you just started live trading, you're a noob who's growing exponentially.
well said!!
0 traders viewing now