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TheForexAce (bei Rick Siu )

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TheForexAce Diskussion

Ziya (ZKFXtrader)
Sep 20 2016 at 21:42
258 Posts
Rick,
If you can be consistent in loosing money in forex, you can win big. But you need to be consistent. Let me know if these trades are manual or you are using some EA.
Succeed in Forex trading
RAYMOND MENSAH (Raaymenx)
Sep 25 2016 at 09:00
262 Posts
Rick reverse your trades
RAYMOND MENSAH (Raaymenx)
Sep 25 2016 at 09:00
262 Posts
Trade demo for about a year to find a rhythm. You can sign up with an autotrade account. Lucky pound has been around for a while. Then use ur profits to experiment. I agree with Ziya if you can be consistent in losing you can win big. All you need to do is reverse your algorithm or method or whatever signal or indicator you are looking at.
RAYMOND MENSAH (Raaymenx)
Sep 29 2016 at 06:55
262 Posts
4xAce posted:
Raaymenx posted:
Trade demo for about a year to find a rhythm. You can sign up with an autotrade account. Lucky pound has been around for a while. Then use ur profits to experiment. I agree with Ziya if you can be consistent in losing you can win big. All you need to do is reverse your algorithm or method or whatever signal or indicator you are looking at.

But you guys are on demo... It's not the same...
How close demo is with real account largely depends on how long your trades last and the authenticity of your broker. A number of brokerage firms have a substantial difference between real and demo accounts but not CoreSpreads. You can try them out or read about them, they are in uk. To me they are the best in the world. They might not be so popular but am yet to see a brokerage firm better than them. I have traded their real account before and I compared to real account results and they were same. I believe largely because my orders are opened for relatively longer times.

I know the mental toughness and psychology trading real account is higher. This is the reason you need very good practice with demo. The practice with demo for long periods (7 months -3 years) helps you develop a pattern and have consistency. You never get surprised on the market. You know what to do at what time, you are used to the charts. Your orders on the average have a length period of at least one hour. At a point even your instincts someway somehow will be synchronized to the market. You have a good journal documenting what made you lose a previous trade then think about what to do to ur strategy to win the next time when such markets pop up again.

This is exactly what am doing. I will be managing hundreds of thousands probably millions of dollars in two years or three years depending on how long my strategy lasts. For this reason I need to really know exactly what am doing. I need to be able to switch strategy quickly immediately market conditions change. This is first phase. Somewhere January or March next year will start an account with either 4000 or 5000 dollars depending how confident I am of strategy. If After trading that for two years I dont experience any surprises. Then will graduate to handling very huge capital.

If every trader will be patient enough to practice, review , analyse and improve his work. We will be the richest folks in town. Imagine trading for banks!!!😄
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