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    Thread: moneygrow's trading journal

    1. #2261
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      Quote Originally Posted by harbir View Post
      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.
      I don't believe that the demo account is completely useless because that is what your post tend to portray, without this practice account, the disaster in the forex market would have been much worse.
      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.
      Greed is actually bred from the demo account, that is my belief, do you know that it is the results that we got from the demo that acts as a motivation for us to use high lot in the live account? Think about it.
      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.
      The demo is meant for a forex trader to master certain aspects of his strategy, we stretch this account beyond limit most times and that causes us to lose in the real trading.
      Quote Originally Posted by Honey Bee View Post
      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.
      Many traders start to practice their greed from this place, A cent account would be more productive in this regards.
      Quote Originally Posted by Neriah View Post
      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.
      The money we can make from the demo is so high because we trade it care free without any form of responsibility and that is a problem.

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    2. The following 6 users say Thank You to Timon for this useful post.

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    3. #2262
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      Quote Originally Posted by Timon View Post
      I don't believe that the demo account is completely useless because that is what your post tend to portray, without this practice account, the disaster in the forex market would have been much worse.

      Greed is actually bred from the demo account, that is my belief, do you know that it is the results that we got from the demo that acts as a motivation for us to use high lot in the live account? Think about it.

      The demo is meant for a forex trader to master certain aspects of his strategy, we stretch this account beyond limit most times and that causes us to lose in the real trading.

      Many traders start to practice their greed from this place, A cent account would be more productive in this regards.


      The money we can make from the demo is so high because we trade it care free without any form of responsibility and that is a problem.
      The questions i always ask is how many traders have the money to be opening cent accounts over and over again,we should take it for granted that a newbie will always blow hos account,the demo account is just ideal for me to practice,the only thing is the discipline to trade the demo account just like you are trading your real account,use the same discipline and patience just like you are trading a real account.

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    5. #2263
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      Quote Originally Posted by bigani View Post
      The questions i always ask is how many traders have the money to be opening cent accounts over and over again,we should take it for granted that a newbie will always blow hos account,the demo account is just ideal for me to practice,the only thing is the discipline to trade the demo account just like you are trading your real account,use the same discipline and patience just like you are trading a real account.
      no doubt that demo account is essential stage for all traders to practice and acquire the necessary technics to use in trading and also to be familiared with the whole trading process in forex market, but still real cent accounts are preferable for me to get the necessary experience I need in this domain, in a real accounts, you will face your emotions and you need to control your risk management all the time which is not possible in demo accounts.

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    7. #2264
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      @ tahiri demo trading account is very much important for all the traders, I don't want to exclude the professionals because they also make use of the demo account, as a beginner the first place to begin the forex career is through the demo account and the place to build a trading strategy is through the demo account as well, so no matter which stage we are will still need the demo trading account

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    9. #2265
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      Quote Originally Posted by sonibark View Post
      @ tahiri demo trading account is very much important for all the traders, I don't want to exclude the professionals because they also make use of the demo account, as a beginner the first place to begin the forex career is through the demo account and the place to build a trading strategy is through the demo account as well, so no matter which stage we are will still need the demo trading account
      You can not exclude the professional traders if you really want the gist to be full. The professional traders might be professional really, but the fact remains that they are still not the perfect trader. This means that they will not be working in the market the way they want all the time, and they might want to improve in this also. We are all traders, and i am certain that we are professional in our own little ways. What now necessary is for us to build the safe trading career that can help us, not that we will be doing trading anyhow.

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    10. The following 9 users say Thank You to catfish007 for this useful post.

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    11. #2266
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      Quote Originally Posted by catfish007 View Post
      You can not exclude the professional traders if you really want the gist to be full. The professional traders might be professional really, but the fact remains that they are still not the perfect trader. This means that they will not be working in the market the way they want all the time, and they might want to improve in this also. We are all traders, and i am certain that we are professional in our own little ways. What now necessary is for us to build the safe trading career that can help us, not that we will be doing trading anyhow.
      i dont believe there is a perfect trader or a holy grail system out there where we can always make profit without any loss. All the full time traders i have met have faced margin call many times but they never quit the continue to trade and at the end of the day the profits they made are more then enough to cover all their losses. What is important is to gave good money management to make sure we can survive our trading career.

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    13. #2267
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      like you said catfish007 no trader in this business that is a perfect trader, as traders we all learn everyday and can learn through demo trading or learn on live account trading but the true still remains that we need demo account for practice and strategy building irrespective of your level of forex knowledge

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    15. #2268
      I just can't quit pips!
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      Quote Originally Posted by Borneo Scalper View Post
      i dont believe there is a perfect trader or a holy grail system out there where we can always make profit without any loss. All the full time traders i have met have faced margin call many times but they never quit the continue to trade and at the end of the day the profits they made are more then enough to cover all their losses. What is important is to gave good money management to make sure we can survive our trading career.
      There is nothing perfect in life and the forex trading cannot be excepted because no analysis is perfect and that is the main reason there cannot be an holy grail trading strategy but however better trading and profitable strategies are available that do better with above average performance. I will like to share my trade signal and analysis on ripple with you mates, taking the buying position as seen from the chart below.
      Attached Images  

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    17. #2269
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      Quote Originally Posted by fembizz View Post
      There is nothing perfect in life and the forex trading cannot be excepted because no analysis is perfect and that is the main reason there cannot be an holy grail trading strategy but however better trading and profitable strategies are available that do better with above average performance. I will like to share my trade signal and analysis on ripple with you mates, taking the buying position as seen from the chart below.
      Alright like you said there is no holy grail strategy, no trading strategy without flaws which is very true but there are measures that can be put in place for us to have a successful trading career, measures that can give us consistent profit in the market. This can be possible with a good trading plan comprising of a good strategy and money management. I can see that you are buying ripple already and it seems to me that you don't like trading currencies, it's either metals or crypto. Well it's all good so long as the profit is entering.

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    19. #2270
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      Quote Originally Posted by loveyo View Post
      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.
      Yes, it is a known fact that the higher the risk, the higher the reward. Forex trading is one classic example to illustrate that age long phrase. There are other types of trading in the forex market, they are very rewarding also if you are successful in it. But forex, that is currency trading is still the one with the highest gain for return on investments. In fact, your rewards can highly exceed your risks, or even your capital. One thing that makes the business so risky and in a way, makes it more profitable, is the ability to buy and short sell at any given time.

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