Is this good to trade live? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Dukascopy Live Account - Don't Post if you haven't traded live with them! 117 replies

My Live Trades on my Live Account 588 replies

go live or bust ... diary of an fx live-trader-wannabe 1,621 replies

Trade 2 live accounts - one with full balance, 2nd as a live test? 0 replies

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

Is this good to trade live?

  • #1
  • First Post: Edited Jun 29, 2012 3:36pm Jan 14, 2012 6:46pm | Edited Jun 29, 2012 3:36pm
NA
  • #2
  • Jan 14, 2012 8:00pm Jan 14, 2012 8:00pm
Quoting pipexplorer1
Hi guys,

I have been back testing using Forex Tester and I want to show you some equity curves. This is that off EURUSD and GBPJPY from 2004 - mid 2011 using daily charts. Do you think this is good enough to trade live?? There are about 360 trades in the back test.

I know 360 is not a huge number but I think it will perform the same with most major pairs like AU, NU, EJ etc as long as theres no extended periods of choppiness like there is on 5min charts.

TY.

http://imageshack.us/photo/my-images/85/53618099.jpg/

http://imageshack.us/photo/my-images/842/56263522.jpg/...
If you want an honest opinion then I'd tell you that you shouldn't go live until you've produced major results in DEMO. Backtesting and actually trading demo are two totally different things.

When you're ready to go live, start with the smallest lot size possible (micro or nano) then slowly and systematically increase your lot size until you're making the big bucks.

This is the only sure fire way to not blow your account.
  • #3
  • Jan 14, 2012 8:13pm Jan 14, 2012 8:13pm
Quoting PipJaeger
If you want an honest opinion then I'd tell you that you shouldn't go live until you've produced major results in DEMO. Backtesting and actually trading demo are two totally different things.

When you're ready to go live, start with the smallest lot size possible (micro or nano) then slowly and systematically increase your lot size until you're making the big bucks.

This is the only sure fire way to not blow your account.
Thanks for the repy

Yes. you're right about the demo but i used Forex Tester just like trading on demo without programming or anything, only faster, by going ahead candle by candle. Do you think thats good ?
  • #4
  • Jan 14, 2012 9:15pm Jan 14, 2012 9:15pm
Quoting pipexplorer1
Thanks for the repy

Yes. you're right about the demo but i used Forex Tester just like trading on demo without programming or anything, only faster, by going ahead candle by candle. Do you think thats good ?
I think it's GREAT practice, but I really think you should do regular demo trading. However, if you have the cash to spare, you could also just jump to like 10 cent pips.

Good luck and happy hunting!
  • #5
  • Jan 14, 2012 9:23pm Jan 14, 2012 9:23pm
Quoting pipexplorer1
Hi guys,

I have been back testing using Forex Tester and I want to show you some equity curves. This is that off EURUSD and GBPJPY from 2004 - mid 2011 using daily charts. Do you think this is good enough to trade live?? There are about 360 trades in the back test.

I know 360 is not a huge number but I think it will perform the same with most major pairs like AU, NU, EJ etc as long as theres no extended periods of choppiness like there is on 5min charts.

TY.

http://imageshack.us/photo/my-images/85/53618099.jpg/

http://imageshack.us/photo/my-images/842/56263522.jpg/...
Why does it work?
if you don't know then don't go live

does it work in all market conditions?
bear, range, bull? in all volatility scenarios?
AVT INVENIAM VIAM AVT FACIAM
  • #6
  • Jan 14, 2012 11:05pm Jan 14, 2012 11:05pm
Quoting PipJaeger
I think it's GREAT practice, but I really think you should do regular demo trading. However, if you have the cash to spare, you could also just jump to like 10 cent pips.

Good luck and happy hunting!
Yea I actually have a really small account right now!
  • #7
  • Jan 14, 2012 11:07pm Jan 14, 2012 11:07pm
Quoting the redlion
Why does it work?
if you don't know then don't go live

does it work in all market conditions?
bear, range, bull? in all volatility scenarios?
It works because the market tends to trend and its smooth on the higher timeframe. Thats why I use daily time frame so there's less choppiness.
  • #8
  • Jan 14, 2012 11:52pm Jan 14, 2012 11:52pm
Is this good to trade live?


find out your self by opening a micro account with any good broker.
Trade responsiblypatience is the key/Swing trader
  • #9
  • Jan 15, 2012 1:27am Jan 15, 2012 1:27am
Quoting pipexplorer1
It works because the market tends to trend and its smooth on the higher timeframe. Thats why I use daily time frame so there's less choppiness.
Can you quantify that?
  • #10
  • Jan 15, 2012 11:59am Jan 15, 2012 11:59am
Quoting calamardo
Can you quantify that?
No, I can't quantify it myself. But I have heard from people that HAVE quantified things like this that say the higher the timeframe, the better it is. ANd from my own experience and personality, the higher TF is just a lot better for me.
  • #11
  • Last Post: Edited 7:23am Jan 16, 2012 7:05am | Edited 7:23am
Quoting pipexplorer1
Thanks for the repy

Yes. you're right about the demo but i used Forex Tester just like trading on demo without programming or anything, only faster, by going ahead candle by candle. Do you think thats good ?

From my experience playing with forex tester and trading live is totally different things. I tell you why:

1) In forex tester you just get a candle every minute but in real account you watch and see how candle develop during the minute (it is utterly different thing dude)

2) second as you mentioned in forex tester its is faster, you don't have to sit and wait spending your stamina, which is a huge advantage

3) it is not real money you risk when you backtest

So as I said at least from my personal experience its is completely different things earning money on real account and making HUGE profits in forex tester. (playing with forex tester I was able to increase my account 20 folds in half year, I dont have that record on real one ()

I put it this way Real > Demo > FT
0 traders viewing now