How can we keep trading on demo for a year, man? It's really hard. I think maximum time is 6 months. To me, I only tried 3 months, I know it's not a good time for me to learn everything about forex trading but It's like you only practise and never get out to fight. I would admire if someone can trade demo 1 year or above.
I think ony scam broker could make these. So should you have a trustful broker, you rarely get those errors in real trading.
some people do stay tradig demo for a year or more, but the more logical solution is to trade live on a small account, pennies or cents, micro accounts to get used to live trading
I started trading forex in April 2004 after about 3 months of demo trading with Oanda. I deposited $1,000 1:50 leverage, trading 0.25/pip. I below up my account in the following 3 months due to mostly bad money management and position sizing. I deposited $3,000 in late August 2004 and another deposit of $10,000 a few months later. I worked that account up to just shy of $120,000 by March 2011 when the Japanese tsunami hit. Now, I'm not a wealthy individual nor I can claim to be a really good trader, but I was consistent, learned my lessons from every loss and bad trade. I will never forget this, I was long USD/JPY about 65 lots (layered from 85.00 all the way down to about 80.00), I was up all night watching the market, I probably lost 5lbs that night as the tsunami was ripping through. Now it's 4:00pm the next day, NY time, BTW I live Vancouver, BC Canada, I think the JPY was holding just under 80.00 I get off the computer to go to the bank. I come back home less than half an hour or so later if I remember correctly, and there it was. The 400 pip move from 79 and change to about 76. I got margined called. I lost $110,000 roughly. When I sat down at the computer, looking at the screen, I had just about $10k left in my account.......I was devastated. I took a break, maybe 3 months or so, focused on school, other things. Today I'm back to about $120K (and this is why I'm posting my experience as this figure was an important turning point my trading career) from the $10k or so that I was left with after that soul crushing hit, (well a little less than $120K since I've been taking money out here and there to pay some bills). Again, I'm not a really good trader, nor I claim to know everything there is about Forex or the financial market, but here are my points: 1) You should know yourself, if you're disciplined, hard working and willing to learn from your mistakes, then you have chance in making it as a trader. 2) Money management is the most important skill that a trader should master 3) Don't give up! shit happens, S. CFA, CMT, BBA Finance (30yrs) (I do have a day job)
the question was, "Are there any successful forex traders out there?' Not, "Are there any lucky forex gamblers out there?" or more likely, "Are there any ET posters that like to tell tall tales?"
Well, you seem dumb enough, but let me try anyways. What part of my story made you think I'm a lucky forex gambler? The part that I made 13k into 120k in 7 yrs slowly and consistently? Or the part that I took my beating in the market like a man, and made the 10k into 120k in 3 yrs after learning my lesson? Are you a better trader? Wanna compare statements? No!, already then, make a contribution to this tread when you have something worthwhile.
for being in the business "30 years" you didn't learn much about the internet. Don't make claims about your starting account and your current account unless you are able to back it up with account statements.
I am 30 years old. Been trading for 10. I'll be happy to show statements, but who wants to see and for what purpose? What's in it tor me? If I get a few genuine people interested to see my statements, sure, I don't see why I shouldn't share, but I don't appreciate disrespect and negativity.
ok, let me know when you are accepting opm. Just promise me you won't trade any "lots" on NFP or FOMC when that broker of yours widens the spread to cover their ass.
I've never traded the news, but I do catch moves thereafter if certain conditions are met. True, Oanda widens spreads during some major numbers but I'm ok with that, I don't trade on the news so it doesn't really affect me.