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    Thread: Interlock's trading journal

    1. #1711
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      The fact that demo account does not give you immediate profit is not enough reason why you should think is not relevant.You will be deceiving yourself if you claim it does not has its usefulness.As a beginner ,it builds you up ,even as a regular trader, your new strategy is evolved via your demo account.Nevertheless ,we should not forget that both accounts are not traded under the same emotion.


    2. The following 4 users say Thank You to Benzone for this useful post.

      Interlock (04-17-2018), kashifrehman (04-17-2018), sonibark (04-17-2018), theomilli (04-16-2018)

    3. #1712
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      Quote Originally Posted by Benzone View Post
      The fact that demo account does not give you immediate profit is not enough reason why you should think is not relevant.You will be deceiving yourself if you claim it does not has its usefulness.As a beginner ,it builds you up ,even as a regular trader, your new strategy is evolved via your demo account.Nevertheless ,we should not forget that both accounts are not traded under the same emotion.
      You are right despite the fact that the demo account doesn't bring real money but he knowledge you acquire with it is what would bring real money for you when you go live trading, so for this reason the demo account should be well respected because it is very important in forex trading business, it is a platform for developing skill and strategy that would enable you trade live account successfully.


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    5. #1713
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      honestly, the starting point of learning is the demo trading account. the trader is brought face to face with the market. he gets familiarised with the market. the demo however does not give the trader the emotional training, hence thd live account.


    6. The following 10 users say Thank You to forexguy9 for this useful post.

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      Quote Originally Posted by forexguy9 View Post
      honestly, the starting point of learning is the demo trading account. the trader is brought face to face with the market. he gets familiarised with the market. the demo however does not give the trader the emotional training, hence thd live account.
      Demo trading is only better and useful to learn about trading strategy and to get hands on the operations of forex trading terminal its good because without risking own money it become possible to learn it but each and every thing is not possible to learn over the demo like risk and money management for that trader need to put real money in account then he can learn how to control greed, money management and risk management.


    8. The following 6 users say Thank You to kashifrehman for this useful post.

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    9. #1715
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      Quote Originally Posted by theomilli View Post
      You are right despite the fact that the demo account doesn't bring real money but he knowledge you acquire with it is what would bring real money for you when you go live trading, so for this reason the demo account should be well respected because it is very important in forex trading business, it is a platform for developing skill and strategy that would enable you trade live account successfully.
      yes brother, we are not suppose to be trading in the demo account for pleasure or fun, because we cant get any of those in their, its strictly meant for learning, and expecting profit from a demo account lol, this is a waste of energy, but i will advice we join a demo contest, instaforexx have lot of this, at least we will be able to trade against the very best traders, and we will also get more knowledge in their, its what i use to do, instead of opening a straight demo account, i prefer contest demo account


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

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    11. #1716
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      Quote Originally Posted by kashifrehman View Post
      Demo trading is only better and useful to learn about trading strategy and to get hands on the operations of forex trading terminal its good because without risking own money it become possible to learn it but each and every thing is not possible to learn over the demo like risk and money management for that trader need to put real money in account then he can learn how to control greed, money management and risk management.
      When ever you are learning with the demo account make sure that you are serious about everything you do because when you are careless then you shall become careless too during your real trading! In fact, we should be so mindful of everything that we do because whatsoever you are able to master in the demo can be performed anytime using real accounts too!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


    12. The Following User Says Thank You to penuelophir For This Useful Post:

      Interlock (04-17-2018)

    13. #1717
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      2nd trades of this week
      Currency- EUR/AUD
      Type- Buy
      Entry point- 1.5881
      TP- 1.5940
      Touched my TP with +60 pips profit. Good one. 1st trades is still running on.
      3rd trades of this week
      Currency- GBP/JPY
      Type- Sell
      Entry point- 153.48
      SL- 153.90
      TP- 152.68

      I am trying to habituate with SL and TP. I don't wanna close any trade manually.
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      Who Is Your Creator And What Is His Intention? Find It Before It Becomes Too Late. If You Search You Will Realize That Allah Is One. May Allah Bless You.


    14. The following 4 users say Thank You to Interlock for this useful post.

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    15. #1718
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      Anything worth doing at all is worth doing well.the seriousness you introduced during your demo trading will definitely take you far.Apart from first hand market introduction ,it instill the confidence that will get you going in your subsequent trading endeavor.


    16. The following 2 users say Thank You to Benzone for this useful post.

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    17. #1719
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      @Interlock it's good to wait for either take profit or stop loss to hit automatically but sometimes it's required that we close our trades manually ourselves before the worst happen, this all depend on your experience, skills and understanding about the market, a good understanding about the market will help you make better decisions most of the time.
      Why should you boast? You are not saved by your works but by the grace of God.👆


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    20. #1720
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      Quote Originally Posted by kashifrehman View Post
      Demo trading is only better and useful to learn about trading strategy and to get hands on the operations of forex trading terminal its good because without risking own money it become possible to learn it but each and every thing is not possible to learn over the demo like risk and money management for that trader need to put real money in account then he can learn how to control greed, money management and risk management.
      You are correct, the demo account is the account that makes trading to be pure and better for traders, when traders do not use their trading system very well, they will fail, that is why we have to be very careful in the way we train. If we are traders that are working with seriousness, we will demo trade, and we will use that to know how to trade the market in the best manner possible. If traders are doing their trading well, they will surely need money and risk management along with their good ways of trading.


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