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    Page 226 of 313 FirstFirst ... 221 224 225 226 227 228 231 ... LastLast
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    Thread: moneygrow's trading journal

    1. #2251
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      You can make a million dollars in the demo account and it will absolutely be hogwash because number one is that it cannot be withdrawn and the second reason is you will not have any serious commitment to it because of the first reason, and bitcoin seems to be climbing but i believe the move is very temporary, there is nothing serious that warrants the bulls taking over for now.

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    2. The following 7 users say Thank You to Timon for this useful post.

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    3. #2252
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      Quote Originally Posted by Timon View Post
      You can make a million dollars in the demo account and it will absolutely be hogwash because number one is that it cannot be withdrawn and the second reason is you will not have any serious commitment to it because of the first reason, and bitcoin seems to be climbing but i believe the move is very temporary, there is nothing serious that warrants the bulls taking over for now.
      The demo account has it's own function which is to practice how to trade very well so that by the time step out of demo and trade live things would not be rough or difficult for you there. Demo account is very effective for learning and mastering various trading skills and strategy but it is ineffective in learning how to control emotions because when trading demo our emotions are not involve since we stand a chance of losing nothing no matter the out come and we tend to take huge risk in it and when this risk brings huge profit in the demo it shouldn't mean anything to us because we know within ourselves that we can't take such risk if it where to be a live account. Making huge profit in demo account doesn't count, what count is the skills and strategy that we acquired during the demo trading.

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    4. The following 5 users say Thank You to theomilli for this useful post.

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    5. #2253
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      I don't understand what you mean by on high volatility market stop loss are not triggered, I find this ironic because it is when market is highly volatile that an SL stand the chance of being taken off easily, please clarify this for me thanks.
      Oghale OK bro, I guess what I was trying to say was that, in times of high volatility, there is possibility that your stop loss will not be triggered at your specific price. We all know of slippage and gaps. In a situation where price "jump" to pass you stop loss order, then your order will likely not be closed at your price, rather it will close at the next best possible price, which will mean that you are lose more than you planned to. Though it is very rare, it still occurs in this market and so stop loss are not totally foolproof.

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    6. The following 4 users say Thank You to Omoba9ce for this useful post.

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    7. #2254
      I just can't quit pips!
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      Quote Originally Posted by simisola View Post
      Dear honey bee the profit that we make from the forex demo account does not matter because we don't have any emotional relationship, meaning the account can be left to be on negative and we will feel unconcerned about it, this cannot happen when we trade the live account, what happened with the bonus you got last month, why are you trading with a demo account sister?
      The demo account is for practicing and looking at our strategy,the issue is when trading the demo account we must trade it the exact same way we will trade the live account,for example if you are 30 pips stop loss trader you have to trade the demo exactly the same way,because the whole essence is to see how effective your trading style is,it will be foolish allowing losing trades to run when you will not do same with your live account.

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    8. The following 7 users say Thank You to bigani for this useful post.

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    9. #2255
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      Quote Originally Posted by simisola View Post
      Dear honey bee the profit that we make from the forex demo account does not matter because we don't have any emotional relationship, meaning the account can be left to be on negative and we will feel unconcerned about it, this cannot happen when we trade the live account, what happened with the bonus you got last month, why are you trading with a demo account sister?
      I agree with you bro that there is no use of keep trading in the demo account specially when you are not testing a strategy there. We can rather start trading with the cent account which would be much better. After some point of time trading in the demo account t just looks like a wastage of time and I personally would feel bored about that.

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    10. The following 4 users say Thank You to harbir for this useful post.

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    11. #2256
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      Quote Originally Posted by simisola View Post
      Dear honey bee the profit that we make from the forex demo account does not matter because we don't have any emotional relationship, meaning the account can be left to be on negative and we will feel unconcerned about it, this cannot happen when we trade the live account, what happened with the bonus you got last month, why are you trading with a demo account sister?

      You are right dear in fact emotions and greed are not possible to learn over the demo these two comes into action when trader take a start in the real market with the real monye. Money management also remain a question the reason is there trader only take a start with the maximum virtual funds and he invest small funds to take a start so practice in this term remain in vain.

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    12. The following 9 users say Thank You to kashifrehman for this useful post.

      Honey Bee (04-15-2018), Leonvic90 (04-15-2018), loveyo (04-15-2018), moneygrows (04-16-2018), Neriah (04-15-2018), Oghale (04-16-2018), Timon (04-15-2018), Unregistered (2)

    13. #2257
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      Forex trading is risky and difficult business to do but if we can spend some quality time to learn how to trade in the demo account and master this trade very well before trading things will be very simple for us to handle it's hard for some to trade forex because they make things complicated for themselves because they fail to learn before trading.
      Why should you boast? You are not saved by your works but by the grace of God.👆

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    14. The following 7 users say Thank You to Eneregha for this useful post.

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    15. #2258
      I just can't quit pips!
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      Quote Originally Posted by Eneregha View Post
      Forex trading is risky and difficult business to do but if we can spend some quality time to learn how to trade in the demo account and master this trade very well before trading things will be very simple for us to handle it's hard for some to trade forex because they make things complicated for themselves because they fail to learn before trading.
      Agree with you dear Eneregha, Forex more high risky business but it's true Forex more high profitable business too. I think if we can achieve good knowledge about Forex, demo practice, try to achieve good skills, experience, try to get proper knowledge about world economy, proper analysis, follow risk management, follow good money management, discipline and follow all Forex rules before start live trading then we may success and get good good profit from Forex market other wise Forex very difficult business. So we should learn before start trading in Forex. Thank you.

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    16. The following 9 users say Thank You to loveyo for this useful post.

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    17. #2259
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      Quote Originally Posted by Eneregha View Post
      Forex trading is risky and difficult business to do but if we can spend some quality time to learn how to trade in the demo account and master this trade very well before trading things will be very simple for us to handle it's hard for some to trade forex because they make things complicated for themselves because they fail to learn before trading.
      Every one know its a risky business but in real account we will do every time mistakes and show greed and most of them will never use stop loss doing luck trading and the end result is loss and our account will be washed, this is not the right way of trading continuous learning and practice will makes a trader profitable.

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    18. The following 6 users say Thank You to Honey Bee for this useful post.

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    19. #2260
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      Quote Originally Posted by kashifrehman View Post
      You are right dear in fact emotions and greed are not possible to learn over the demo these two comes into action when trader take a start in the real market with the real monye. Money management also remain a question the reason is there trader only take a start with the maximum virtual funds and he invest small funds to take a start so practice in this term remain in vain.
      Emotions and greed are completely absent from the demo account, this makes it a child's play in comparison with the live trading, so having made $50,000 from the demo is sort of worthless because in the process of that, you will not be interested in what is happening in price movements, but discipline in the live trading makes it different and difficult to attain such profits.

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