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When and how do you know you are ready to invest real money?

  • #41
  • Sep 19, 2016 8:29pm Sep 19, 2016 8:29pm
I Don't know if it has been mentioned but I would caution about trading on a demo, in fact I wouldn't at all with the exception of getting used to a platform.
The psychological aspect of trading cannot be felt trading with play money. Trading lessons will only ever be fully felt and learned with real money.
There will be some who do not agree with me and that's ok. This is what I have learned from over many years of being a retail trader and trying to make a living.
  • #42
  • Sep 19, 2016 8:35pm Sep 19, 2016 8:35pm
Quoting Sonofsin5
I Don't know if it has been mentioned but I would caution about trading on a demo, in fact I wouldn't at all with the exception of getting used to a platform. The psychological aspect of trading cannot be felt trading with play money. Trading lessons will only ever be fully felt and learned with real money. There will be some who do not agree with me and that's ok. This is what I have learned from over many years of being a retail trader and trying to make a living.
+1 Spot on.

The only reason a demo is usefule for is simply to get used to the functions and what they do, especially to you scalpers, you think it will work on a live account you're dreaming. Slippage doesn't affect me simply because I trade swing, minimum of 40-50pip TP targets, unless I been slipped by 10+ pips or so I don't even notice or care about it.
  • #43
  • Sep 19, 2016 8:53pm Sep 19, 2016 8:53pm
I will call in trades directly to the desk if possible when I have larger size in the market. I want the quoted price and a garunteed spread. Especially in times where markets may be less-liquid. You cant do that on a demo.
  • #44
  • Sep 20, 2016 1:16am Sep 20, 2016 1:16am
According to me, expert people should be very careful when sharing their suggestions; trading real money till you are not ready is a fool, if you lose day in and day out what is a small loss today will become a big loss after a few months. If you are not profitable for at least this period do not touch your money in forex.
  • #45
  • Sep 20, 2016 1:48am Sep 20, 2016 1:48am
Quoting keven24bloom
According to me, expert people should be very careful when sharing their suggestions; trading real money till you are not ready is a fool, if you lose day in and day out what is a small loss today will become a big loss after a few months. If you are not profitable for at least this period do not touch your money in forex.
Your coming from totally wrong angle.

For a start you should not even be thinking about Forex withouth disposeable income.
Secondly, any live account you open, should only be used with money you can "AFFORD" to lose.
Anything else, is commonly known as gambling.

As a pro, I stick by my guns, and say that demo is only good for platform training.
  • #46
  • Sep 20, 2016 2:25am Sep 20, 2016 2:25am
Quoting PaulDaemon
{quote} How much slippage are we talking about here? 50 pips? Honestly I have never had any problem with slippage on a live account even on the day of the Brexit referendum. If you rely purely on scalping a few points out of the market well yes slippage is a real problem and if you practice those tight scalping techniques on demo well of course it wont work on a live account. Its like wise comparing a retail traders day trading strategy that works with a 10K balance will not work with institutional trading a 10 million $ trade. If you think slippage...
Since professional traders invest loads of money into VPS and FIX API solutions to get the fastest and best execution, your institutional trader example is everything, but not representative and simply false.

Slippage is the worst problem for traders ever since. If you do not experience slippage you are not competing for liquidity and therefor are trading with a MM, who takes you into their own books. Might look attractive, but wont let you be profitable over the long term due to the conflict of interest.

Just think about it for a second. Liquidity is a limited source, so first comes first served. If you are too late, you will get the next available price quoted .. and here the deviations are theoretical endless. It always depends on the available liquidity and volatility here. Just recently had values of 20-30 pips on majors during EU/USA session on FXPig for example. Now imagine you have a scalping strategy with a 5 pip SL. Having 30 pips SL will give you a loss of six times of the initial risk! As NO demo account will be affected by this, it is mostly a pure waste of time.
Of course it depends on the strategy, but as arbitrage and scalping offers the most attractive risk/reward ratio - it is a dominating topic.
  • #47
  • Sep 20, 2016 2:30am Sep 20, 2016 2:30am
Quoting pulke
Hello fellow traders honestly: I have been trading for almost a year. I have taken some courses, read books, researched a lot and given a lot of thought and efforts but I lost a lot of money and am not profitable yet. I realize now that I should not have put serious money before I was sure I was profitable. My question is : how do you know when you are ready? After 1 profitable month? how much percent of your account is considered enough profit ? When is it right to invest some real money?

http://www.forexfactory.com/showthre...rt#post8606169
A good trader follows his rules, but great trader knows when to break them
  • #48
  • Sep 20, 2016 2:48am Sep 20, 2016 2:48am
Quoting keven24bloom
According to me, expert people should be very careful when sharing their suggestions; trading real money till you are not ready is a fool, if you lose day in and day out what is a small loss today will become a big loss after a few months. If you are not profitable for at least this period do not touch your money in forex.
As for the demo, it is my opinion that it is good at the initial stage of training. Trading on demo and real - are completely different things. About this there is a lot of debate on this forum. But my opinion is that a trader develops only when trading on a real account, knowing that can earn or lose real money.
Surrealist
  • #49
  • Edited 5:32pm Sep 20, 2016 1:37pm | Edited 5:32pm
Well..... close .... another.... case ... again .........

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  • #50
  • Sep 20, 2016 1:43pm Sep 20, 2016 1:43pm
First become profitable in a sim environment (something like forex tester), then 3 months profitable on demo, then go live with small amount of money. After another 3 months consistently profitable you deposit more and increase trading size.
  • #51
  • Sep 21, 2016 1:39am Sep 21, 2016 1:39am
Do trading on demo account first for several months until you have enough confidence to beat the market
  • #52
  • Sep 21, 2016 7:34am Sep 21, 2016 7:34am
We all used the demo before. It's just a waste of time. Demo only need to meet the market, watch tools and watch chart a little. Try to make trades. View as currencies go, which more volatility, etc.
and... that's it!
Or you make profit and it's on real or don't trade, observe.
Losing money consistently it's meaningless.
Looking for partners
  • #53
  • Sep 22, 2016 3:17pm Sep 22, 2016 3:17pm
Quoting SalvatoreD
{quote} As for the demo, it is my opinion that it is good at the initial stage of training. Trading on demo and real - are completely different things. About this there is a lot of debate on this forum. But my opinion is that a trader develops only when trading on a real account, knowing that can earn or lose real money.
I agree with you. Demo account cannot prepare to trading with real money. live trading needs more responsibility and attention .. and patience
  • #54
  • Sep 22, 2016 3:21pm Sep 22, 2016 3:21pm
Quoting FerruFx
{quote} If you don't go LIVE with real money, you will never know. Trading on a demo account is useless to measure your real ability in term of emotional behavior. I personally never used demo account for my own trading. Like said Hayseed in an earlier post, start small ...
Yup.
  • #55
  • Sep 22, 2016 9:43pm Sep 22, 2016 9:43pm
Yup... a remarkable achievement .


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  • #56
  • Sep 22, 2016 10:28pm Sep 22, 2016 10:28pm
zeezz izz is my demo acct .....
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  • #57
  • Sep 22, 2016 10:40pm Sep 22, 2016 10:40pm
ziiz iz a chart dith data ....

is ziizz demo acct make picture ?
is zziizzz real acct make piccy ?

iz ziizz trade a ble at demo acct ?
iz zizz trade a ble at real acct ?

yes ... no ... no ... yes ... ?

made up your mind ..
got lootta skiin to show ...
but some one have to pay forit .....

or sing mre west side story .......

I m so prerty ..... very prttty ...

2c
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  • #58
  • Sep 22, 2016 10:58pm Sep 22, 2016 10:58pm
r .. w .. der /// zet ... dunno ..... pull your own ratio ...

da past 15 yarrrr seeng many new wave .. yet ... those wave test ... it at gutterrrr .... stremmm ... riverrr .... sea ... for what they have now .... correct ...?

yupp ........ still beachin , still pool of liquidearty ....

umlest... test it at desert ... pretty much cat nippp .....

da old sayin ... if .. u ... can see it .... you ... can CAP it ........

2c
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  • #59
  • Sep 22, 2016 11:59pm Sep 22, 2016 11:59pm
If your asking the question, their is your answer
Learn, a forex trader must, unlearn and relearn he will.
  • #60
  • Sep 23, 2016 12:47am Sep 23, 2016 12:47am
When you getting bored to trade. (Executing trades).
This is not come in one year depends on your screen time and strategy.
Use only one strategy with possible money management.
Its better to trade on demo at least 3 month with "consistency....
First back test the charts of at least two years for your strategy.
Not much 5% to any trade. To loose...
Hope this help.
Trade fearless not careless...
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