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Hi, Can someone give me a tips, new trader here, starting on demo account
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KnightsofKornor

Member Since Jun 14, 2018  27 posts KnightsofKornor (KnightsofKornor) Jun 17 2018 at 12:05
Hi, Can someone give me a tips, new trader here, starting on demo account, i think i'm good in demo you can check my profile and trading history, I gain 573.54% on one account and the other account is 285.76% i trade those accounts only in 2 days. but when comes on live account i can't win just like on my demo account. Thanks in advance

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Dandelion

Member Since Jun 19, 2018  10 posts Dandelion Jun 19 2018 at 14:25
It sounds like you don't understand risk management. Those are enormous gains for 2 days. Try a smaller lot size

KnightsofKornor

Member Since Jun 14, 2018  27 posts KnightsofKornor (KnightsofKornor) Jun 20 2018 at 05:54
Yeah i know since i'm a newbie here, i think a lot of things need to consider, but i'm just trying what i can do on demo account and contest before i trade on live account. My first trade was 20 Lots for 10, 000 demo deposit. is it alright or you think i may adjust it lower?

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KnightsofKornor

Member Since Jun 14, 2018  27 posts KnightsofKornor (KnightsofKornor) Jun 20 2018 at 05:55
Dandelion posted:
It sounds like you don't understand risk management. Those are enormous gains for 2 days. Try a smaller lot size

Thanks for the info, i want to know more on trading. Your response is much appreciated. What i may need to know about risk management? What is the best Lot for $100 deposit?

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KnightsofKornor

Member Since Jun 14, 2018  27 posts KnightsofKornor (KnightsofKornor) Jun 20 2018 at 06:00
And also can you suggest me the best leverage on $100 deposit? i'm planing to scalp trading.

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mulani1961

Member Since Apr 22, 2017  18 posts mulani1961 Jun 24 2018 at 06:26
KnightsofKornor posted:
Yeah i know since i'm a newbie here, i think a lot of things need to consider, but i'm just trying what i can do on demo account and contest before i trade on live account. My first trade was 20 Lots for 10, 000 demo deposit. is it alright or you think i may adjust it lower?


MT4 only allow 8 lots for first Open position for $10.000. that why you must be carefully try demo first before you go to Real account in one Broker. Sometime they set different parameter to attractive new Trader.

mulani61@
KnightsofKornor

Member Since Jun 14, 2018  27 posts KnightsofKornor (KnightsofKornor) Jun 24 2018 at 12:57
Thanks for the info :) it hepls

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skalpprofx

Member Since May 04, 2018  1 posts skalpprofx Jun 25 2018 at 11:15
Write the EA for your strategy as I you can trade

petkofxlev38

Member Since Apr 13, 2016  14 posts petkofxlev38 Jun 26 2018 at 10:30
The most important thing is to have a good money management and follow it strictly. I was taking too huge risks before,and now I am following the system of 2%.This means that my SL should not be on a bigger distance of 2%. When I trade 1k account, I place a SL that will make me max 20 dollars loss. So this way I calculate the lots. And it is really logical, and since I started using it I have improved my results.

I learned that in the course Manual professional trading from EA Forex academy, it was 200EUR course, and this week I saw they have a sale so the course is just 10EUR, how ever I took few more...hope it helps

RedPips

Member Since Feb 15, 2018  14 posts RedPips Jun 26 2018 at 12:30
skalpprofx posted:
Write the EA for your strategy as I you can trade


I find EA is the best way to test a strategy because you can backtest it against years worth of data

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