I'm training right now with a demo account in order to open a real account very soon,,, https://www.myfxbook.com/members/m_gazar/m-gazar/141153 So, I need the experts of you to analyze my performance using the link above and tell me my chances please,,,,😁 However, even if my performance isn't well enough, I'll open a real account soon anyway 😈
m_gazar posted: I'm training right now with a demo account in order to open a real account very soon,,, https://www.myfxbook.com/members/m_gazar/m-gazar/141153 So, I need the experts of you to analyze my performance using the link above and tell me my chances please,,,,😁 However, even if my performance isn't well enough, I'll open a real account soon anyway 😈
Thank you so much
Looks good except you're not using SL or TP. In my opinion, for manual trading using one is a must. But, at least you are not over-leveraging, like many newbies make the mistake of doing. I also recommend trading demo with the same amount as you will be depositing live. If you trade on a $10,000 demo account but can only put $1,000 into a live account then your results will be very different. I have learned this from experience.
trade demo using the same terminal and account balance and leverage that you plan to go live with.
if you plan to go live with broker x then most definitely trade demo using broker x's platform.
if you plan to go live with five hundred bucks, trade a demo account that is setup with five hundred bucks.
do not, for example, practice game trading at broker y with a 100k balance at 400:1 if you plan to go live with broker x at 50:1..
also, set your terminal to the highest leverage setting allowed... this does not affect your risk... setting your terminal to low leverage settings only serves to put you closer to a margin call, that is all that it does. on my terminal, 0.01 lots at 50:1 requires just under thirty bucks of margin, at 400:1 the same trade will require 1/8th the required margin, but you get the same profit per pip... few seem to understand this issue.. setting the terminal to some silly leverage like 10:1 does not equate to low risk trading..
notice that metatrader provides default amounts that you can setup a demo account with, but you can also enter pretty much any amount that you want to start with..
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.