Fake demo account! | Forex Factory

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Fake demo account!

  • #1
  • First Post: Jun 6, 2011 8:21am Jun 6, 2011 8:21am
Everybody knows that double demo account in weeks, is not a problem. What if someone will give you "fake demo account" what is an actually real account. Would be trading results much better?
  • #2
  • Jun 6, 2011 9:11am Jun 6, 2011 9:11am
Quoting josef
Everybody knows that double demo account in weeks, is not a problem. What if someone will give you "fake demo account" what is an actually real account. Would be trading results much better?
no, it won't. Trading demo accounts up in weeks can only be done, if you disrespect any kind of money management. You probably destroy 10 accounts before you get one up in a matter of weeks.
However, if you can consistently double an account in a matter of weeks, then I agree it could be a psychological issue. But honestly, most here don't have a winning system in the first place. So, they will anyways always fail no matter if demo or live.
  • #3
  • Jun 6, 2011 9:28am Jun 6, 2011 9:28am
Quoting Custos
no, it won't. Trading demo accounts up in weeks can only be done, if you disrespect any kind of money management. You probably destroy 10 accounts before you get one up in a matter of weeks.
However, if you can consistently double an account in a matter of weeks, then I agree it could be a psychological issue. But honestly, most here don't have a winning system in the first place. So, they will anyways always fail no matter if demo or live.
I would say it's much easier: Open an account for 5K, open the trade at the beginning of London session and you have 50% chance that you will double your account. (Personally checked).
  • #4
  • Jun 6, 2011 9:31am Jun 6, 2011 9:31am
Quoting josef
I would say it's much easier: Open an account for 5K, open the trade at the beginning of London session and you have 50% chance that you will double your account. (Personally checked).
then go and do it instead of starting garbage threads
Congratulations ScalaFX for coming out of the closet!
  • #5
  • Jun 6, 2011 9:41am Jun 6, 2011 9:41am
Quoting josef
I would say it's much easier: Open an account for 5K, open the trade at the beginning of London session and you have 50% chance that you will double your account. (Personally checked).
and the other 50% is that you will destroy your account?
  • #6
  • Jun 6, 2011 10:22am Jun 6, 2011 10:22am
Quoting Custos
and the other 50% is that you will destroy your account?
Don't be a Negative Nancy.
  • #7
  • Jun 6, 2011 11:14am Jun 6, 2011 11:14am
Quoting Rikers
Don't be a Negative Nancy.
I am all negative when one advocates irresponsible money management. You can see trading as gambling or as a real business. If you try to double it in a matter of weeks without having an edge, you are gambling.
  • #8
  • Jun 7, 2011 12:19am Jun 7, 2011 12:19am
Quoting Custos
I am all negative when one advocates irresponsible money management. You can see trading as gambling or as a real business. If you try to double it in a matter of weeks without having an edge, you are gambling.
Custos, I respect money management and your opinion. Only question for me that my demo account grows usually very fast and my live account isn't. If somebody made some of 'joke' and switch this for me
  • #9
  • Jun 9, 2011 7:17am Jun 9, 2011 7:17am
Quoting josef
Everybody knows that double demo account in weeks, is not a problem. What if someone will give you "fake demo account" what is an actually real account. Would be trading results much better?

To test this you need more than 2 traders.


Habit to have better results on demo than on live is newbie habit. Think about this!
  • #10
  • Jun 9, 2011 7:30am Jun 9, 2011 7:30am
In demo mode you don't care so you leave profits alone, in your real account, most traders can resist fiddling, moving stops to lock in profits where in actual fact all they do is ensure a swift stop out, for a modest gain.

Doubling a trading account is not a problem in a week, any mutt can do it, the problem is keeping it thats the problem. Depending where you are in the market that will dictate you ability to double it also the instrument you trade will.

Suppose you decide to trade NFP close your eyes and stick a order in the market risking half your account. You might get lucky and the market moves 300 pips and you doubled it in a day. Do the same next month and you get stopped out. If you reduce trading to a black or white situation, then it is gambling, however any skilled trader knows that this is not the so called edge everyone needs, its luck and trading on luck is great until it runs out.

I took a account upto 300% in a couple of days, I happened to catch the move in silver, moves like this will even with proper money management allow you to make huge profits in a short period of time sadly they don't happen that often.
  • #11
  • Jun 9, 2011 8:32am Jun 9, 2011 8:32am
Quote
Habit to have better results on demo than on live is newbie habit. Think about this!

You might be right.
  • #12
  • Last Post: Jun 16, 2011 4:06pm Jun 16, 2011 4:06pm
Using demo accounts is an unrealistic visionary trading. You won't chock-full off the d*rty tricks of the brokers.

Trade the real account and you will smell the rough Forex trading life.

I need demo only for publishing at FF due to the fact of our hacker friends but these aren't manage just as well as the real accounts.
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