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New trader having some pips

Arthur Libeert (ArthurLibeert)
Aug 14 2014 at 06:30
9 โพสต์
Hello,

I have been reading some forums and topic about forex trading.
And they all telling me it's verry hard to make profit with forex.

Well i've been trading on a demo account ( Oanda ) and i'm pretty doing it ok.
I'm having 10.57% Abs profit in almost 3 months. I think this is pretty good no?

Do u guy's have some advice, if i should keep the make more percent or stay with a safe percent?

Because it is working pretty good right now so i think i can make more percent a month.

A lot of people are saying demo is not the same as real, but i'm taking this demo pretty sure. So it's like real for me ^^

The question is should i go live now or is this just beginners luck? So i need to try my demo longer to see if i have a huge drawdown thats killing me to go live?

Thank you for ur time

Arthur

Ps my link to my system : https://www.myfxbook.com/members/ArthurLibeert/arthur-libeert/962095

jotekfinance
Aug 15 2014 at 05:59
138 โพสต์
Not necessarily beginners luck, but for some reason, it seems like you ALWAYS have better percentages with the demos.

mariav
Aug 15 2014 at 08:52
115 โพสต์
Artur, i can agree with jotelfinance, you always have better results when trading in demo, that is why i can recommend you solution which i found for myself. You can use cent accounts, they are real but the amount of deposit is very small, so you can not lose much money but still you will trade on a real account 😄
Good luck in your trading and wish you higher and higher results every day 😉😉😉

AMM19
Aug 15 2014 at 10:46
1 โพสต์
Demo accounts psychologically are not as taxing as the real account. Put your risk capital 'the amount that you can afford to lose' into a real account. Start small and use your energies & time to earn (or learn to lose) on the real account.

Shabazali123
Aug 15 2014 at 16:58
8 โพสต์
Hi Arthur,

Welcome to the world of trading. when your trading a demo, its less emotion if you see draw down or losses, its not that much of a big deal. There are many different kind of traders, with different mindsets, styles and techniques. Some guys make rules and break them and it blows up your account or over leverage an account using short terms scalps. I speak for myself, iv been guilty for most mistakes and learnt the hard way. Heres a few things to consider before you go live.

do you have a trade plan? rules that you will stick too? eg, mines are: 1 trade at a time no matter if i see a golden opportunity while im in a trade.
Even though my broker allows 1:50 another allows 1:500 and another 1:1000. i dont go over 1:14 max.
What are your triggers for trade?
DO NOT treat this as get rich quick scheme, i don't intend on taking any money out until around week 40 and even then its just peanuts because it doesn't fit in with my long term goals.
Its not about quantity, but consistency. once you have mastered consistency you can always go for quantity.
learn from others mistakes rather than make them yourself, i learn the hard way, which is expensive in trading.
use both fundamentals and technical, not one over the other, if ones a hand the others a glove.
mariav is very right start with a nano, if you see consistency over a long period of time add to the balance but ONLY what you can offered to loose.
The above should get you off on the right foot, i consider myself new too, so if theres anything i can help you with i will be more then happy too.

last thing, Knowledge is power, dont stop learning.

Arthur Libeert (ArthurLibeert)
Aug 15 2014 at 21:12
9 โพสต์
Thanks for all the replies. I know it's different but i will try with 250-500 Euro on a real account.

I use 1:50 on Oanda broker. I don't really have a trade plan. My stop loss or profits are always different. Because every trade has other specifications.

I'm going to try 1 year with 250-500 Euro. And if i have profit in that year i'm going to put some more on it ;)


TheFX4You
Aug 16 2014 at 18:33
92 โพสต์
Hello Arthur,

First of all, it't not bad to get 10% per 3 months.
I hope that you have some system not just gambling

But please also let us know what was your DD?

Of course, professional trader will earn at least 10% per month,
but for beginner it's good that you have at least profit.

Stable 20% per month without manual intervention...
Arthur Libeert (ArthurLibeert)
Aug 17 2014 at 11:06
9 โพสต์
The first one was a wrong decision and i just closed it to have a new start.

The second was something stupid where i learned from. I had an open position, but it keep growing, so i did a sell again. It keep growing so i keep selling the currency. But i did some wrong research so it closed al those trades. A huge loss, but i learned from it.

The last one i've tried to trade Gold. But i didn't know Gold is very risky because a little movement will cost u a lot of money. So i had a huge loss of 10 Euro's. But now i'm back on track without those 2 mistakes.

I don't know if i have a strategy or a Gambling strategy. I'm using technical analyses. My stop loss and take profit are different each trade so. I can't really say what my stop losses are and that kind of stuff. I'm only using two indicators: RSI and stochastics. But mostly i'm finding trades on a naked chart. ( like channel up/down, head and shoulders, triangles, ... )

jotekfinance
Aug 22 2014 at 07:55
138 โพสต์
Using a system free's you up some from having to do all the mental headaches and calculations of watching EVERYTHING. Also, if you have a decent one, it allows you to focus your efforts. But that never stops you from 'going rogue' :)

jotekfinance
Sep 08 2014 at 06:30
138 โพสต์
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