my forex trades...!

[linkon7]

so far 6 trades... no sl hit....41 pips total...

 

[smartboy1jan1982]

When i opened the account almost 4-5 months back with trading capital at 100 K.... i had no intention of trading forex... It was just to test out various strategies and setups... Objective was to make the 100 K into 10 mill...


Thanks for the tip... i'll open a new account with 1000 $ and check my performance there... as that will give me a good feel...

Linkon7

Open a real account instead of another demo account as and when you are confident of your trading system for forex. Demo account is only to test out a system or trading strategy. A real test of a trader comes only when real money is involved as it invokes a lot of emotions in a trader which is not present in a demo account.

You can open a real account for any low amount with which you are comfortable to lose, even if it as low as 250$ or even lower. The performance of this low but real account over a period of 3 to 6 months will be much more reliable to you and to us than another demo account of low value.

 

[linkon7]

First, I have opened a demo account with $10000, And then in a month I made it to $16000(all my entries are less than 2 lots).

Again I opened a new demo account with $200, a couple of weeks before. In one week, I made it to $950 then continued to trade, last week, I had many SL hits and now I have balance of $247.

I have opened a new Live account in alpari last thursday and transfered $200. But I am still worried to start trading with it, Since I may loss. So anyone here can explain how should proceed to trade from this situation???

Thanks in advance.

I'm a novice in forex... and i'm not qualified to tell you how forex is played...

But i do trade nifty for a living... and the first rule is to develop a plan and then enforce that plan... Running a demo account robs you of the fear of loss. There are just 2 direction any market can go... and with demo accounts... u dont have to worry about bursting the account... But in real trades... that becomes the prime objective... protecting capital...

read this...

http://www.forexoma.com/when-you-will-be-a-professional-forex-trader/

 

[linkon7]

Linkon7

Open a real account instead of another demo account as and when you are confident of your trading system for forex. Demo account is only to test out a system or trading strategy. A real test of a trader comes only when real money is involved as it invokes a lot of emotions in a trader which is not present in a demo account.

You can open a real account for any low amount with which you are comfortable to lose, even if it as low as 250$ or even lower. The performance of this low but real account over a period of 3 to 6 months will be much more reliable to you and to us than another demo account of low value.

I have no intention of loosing money.... so far..i had tested various system on forex..just to find some new insight that i can use for my Nifty trading...

Right now, the objective of this exercise is to test out my existing setup on forex... and see good it delivers... It'll need some tweaking based on the experience i'll gain in this month... and only then i'll open a real trading account...

 

[smartboy1jan1982]

I have no intention of loosing money.... so far..i had tested various system on forex..just to find some new insight that i can use for my Nifty trading...

Right now, the objective of this exercise is to test out my existing setup on forex... and see good it delivers... It'll need some tweaking based on the experience i'll gain in this month... and only then i'll open a real trading account...

Lolz I didn't mean that you will lose all of your money in trading forex.

Anyway, whenever you do open a real account, after a month or two, make sure you post its performance regularly in a new thread here at the forex subforum of traderji.

GoodLuck for your forex future

 

[linkon7]

Lolz I didn't mean that you will lose all of your money in trading forex.

Anyway, whenever you do open a real account, after a month or two, make sure you post its performance regularly in a new thread here at the forex subforum of traderji.

GoodLuck for your forex future

i have little knowledge...zero experience in forex... Suitable mental and psychological condition is yet to be built...

I wont last very long with real money....!

 

[yasirdxb]

First, I have opened a demo account with $10000, And then in a month I made it to $16000(all my entries are less than 2 lots).

Again I opened a new demo account with $200, a couple of weeks before. In one week, I made it to $950 then continued to trade, last week, I had many SL hits and now I have balance of $247.

I have opened a new Live account in alpari last thursday and transfered $200. But I am still worried to start trading with it, Since I may loss. So anyone here can explain how should proceed to trade from this situation???

Thanks in advance.

If you have proven trading system and risk management system , there is nothing to worry. if you dont have these, then you shouldn't be trading a live account!

 

[smartboy1jan1982]

i have little knowledge...zero experience in forex... Suitable mental and psychological condition is yet to be built...

I wont last very long with real money....!

Right but have you ever thought about trading currency futures, usd/inr, on nse?

 

[sriharishine]

If you have proven trading system and risk management system , there is nothing to worry. if you dont have these, then you shouldn't be trading a live account!

Thanks for your prompt reply, I am still working to make a standard trading system and methodology for myself. Hope you can help me out in that.

 

[yasirdxb]

Thanks for your prompt reply, I am still working to make a standard trading system and methodology for myself. Hope you can help me out in that.

I suggest you start trading longer time frames with a no more than 2 percentage risk/trade.stop thinking how much pips you can make in a day. if you can finish the next month break even, that would be an achievement.

the shorter the time frame you trade, the smarter you should be to survive! I dont think you are that smart! Or Are You??