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DEMO ACCOUNTS - Heads up for new traders

enoch benjamin (enochbenjamin)
Oct 31 2013 at 02:21
3 příspěvků
Just a heads up for new traders - if you see a system with 999999.95% returns - it is a demo account.

Word to the wise - if it seems to good to be true -- it usually is.

There are plenty of people making money trading, but it takes time - lots of screen time. If you are patient, realistic and dedicated you will make money... just not tomorrow.

Good Trading to all!

scared money don't make none!
zwelithini sibanda (zwelithini)
Oct 31 2013 at 08:40
6 příspěvků
JSingh
Nov 05 2013 at 20:57
1 příspěvků
Hi,
Any advice about opening a new account (which broker) and how to use FXPro in conjunction.

FXtalk.eu
Jan 02 2014 at 22:01
6 příspěvků
Just look for verified real accounts to avoid 'lucky' demo accounts.

NO ads, NO hidden sales and NO gimmicks forum for EA traders. Free tick data downloads!
oscarin_dem
Jan 04 2014 at 13:56
6 příspěvků
FXtalk_eu posted:
Just look for verified real accounts to avoid 'lucky' demo accounts.


It's right. It is easy to manipulate the results of demo accounts and fool people, because some brokers have different price feed between their real and demo accounts, best execution time, etc... Don't trust in demo account performances, ONLY in real and verified accounts!

Bob LLewellyn (ForexAssistant)
Jan 16 2014 at 21:26
465 příspěvků
The advice from above is all BS. There are no differences between live and demo feeds, if there were, not only would us old timers know about it but so would the government watch dogs like the NFA for example. New people hear something that sounds good and just repeat it often. There was a program that did have a 99% win ratio but the NFA invented FIFO so that you could no longer use it in the states but here is 15 monthly broker reports on a live account (IBFX mini) from the meltdown period of 2008-2009. They are all zipped up for easy downloading but be careful the soothsayers will find a reason that these reports are fraudulent and of course there has to be something wrong with any program that proves them wrong.

When someone says 'it can't be done' all they are really saying is they can't do it. Don't believe them, just go ahead and do it anyway.

https://www.forex-assistant.com/2008-2009.zip

By the way, these results came from a fully automated robot. Another common belief destroyed, robots can't do as good as humans do, even though currently over 70% of all trades are done by computers.

Another thing, if this account was still open, I wouldn't be showing it to you, on line anyway because what ever you put on line is only evidence for the IRS to use at your audit. Don't be stupid and keep your live accounts to yourself, no one becomes a target over demo accounts and all demos will do and show the same results as a live account.

Demos are how you learn, why would a broker offer a teaching tool for people to learn with, if it is somehow different than a live account. That's a lawsuit looking for a place to happen. A little logic will clear up all these false claims and your broker will clear up the rest, just ask them, they are there to help you. That's how they make their living.

How about this, 'if it sounds too good to be true, you are putting too many limitations on yourself and others'. Why do those giving such good advice always say if it sounds too good to be true, it probably isn't but never say if it sounds to bad to be true it probably isn't. We believe the negatives but are afraid to check out anything that we think is so very good, that we will have to be disappointed because nothing this good ever happens to us. Listen to what the naysayers are saying and ask yourself, if they are negative thinkers, why would you ever want to follow their advice? Think for yourself and don't let naysayers talk you out of success as they have done for themselves.

Bob

where research touches lives.
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