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Comparing Demo Performance with Live Performance.
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Moneymanagement

Member Since Sep 09, 2010  35 posts Easytrader (Moneymanagement) Sep 14 2010 at 10:13 (edited Sep 14 2010 at 10:17 )
All i could say here is that there is much difference between demo trading and live trading, demo is just like you are in the dream word of trading know you can not die, even if you die in the dream, you can still wake up in the real world, but live trading is the real world, once you are dead, you are dead, so you have to plan ahead and see afar in other not to be obstructed in any danger, which means MONEY MANAGMENT in trading

Patient The Best Stractegy
olive10000

Member Since May 06, 2010  41 posts olive10000 Sep 14 2010 at 13:00
If you manage your demo account in the same way you manage your live account, it means, you care much about your perforamnce and trading style than the money you are making, so you have a strong strategy, you are not gambling and this is a good point to succeed in trading.

Keys for forex success:PATIENCE and money management!
pipinvestment1

Member Since Aug 14, 2010  219 posts Will Schaarrand (pipinvestment1) Sep 14 2010 at 20:08 (edited Sep 14 2010 at 20:09 )
http://www.fulltime247.com/
http://www.myfxbook.com/members/Fulltime247


His Real Account was under another user name on MFB. I forget.. ft247 , but anyways his live account blew and the demo accounts are still churning.

--------------------
For traders that baby their demo accounts for months ......... You might as well open a penny account with $5 and trade.

In the real world, and not the MFB world, No one cares what your stats are on DEMO. Real traders understand that Demo and Live are not the same trading conditions.

Listen to 'easytrader' Its true... Demo accounts you can start over, refresh, reboot. But in the Real world, We only have 1 chance! Take that Loss, and start fresh the next day.

I have seen so many traders blow their accounts from a few miss guided trades. Forget about the Perfect statistical system.

if you are concerned about the statistics, you will inherit the HOPE and HOLD Strategy and when the market does not give you that Fibonacci retracement, you will panic... You will add to your already bad position and you will lose your money.

I've seen it, I've done it, and I've overcome it.

Now I can tell others how and why to avoid it.


1 pip at a time
justgbp

Member Since Sep 06, 2010  9 posts justgbp Sep 14 2010 at 20:43

pipinvestment1 posted:
    http://www.fulltime247.com/
http://www.myfxbook.com/members/Fulltime247


I have seen so many traders blow their accounts from a few miss guided trades. Forget about the Perfect statistical system.

if you are concerned about the statistics, you will inherit the HOPE and HOLD Strategy and when the market does not give you that Fibonacci retracement, you will panic... You will add to your already bad position and you will lose your money.

I've seen it, I've done it, and I've overcome it.

Now I can tell others how and why to avoid it.




This is so true. I am getting more and more afraid of losing days now even I always tell me to enjoy losses. Traders (me) must avoid the trap of being 'zero or hero'. I need to truly enjoy my manageable drawdown. Well, thank you very much for your advice.

I must be a better person first before I can be a profital trader.
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