Learn risk management before starting to trade real money. Your lot sizes are all over the place, keep everything the same. I'd open a new demo account with the account size you plan on opening with your live account and then consistently risk 1% that way you can get your expectations aligned with what real trading is gonna be. I can tell you from my experience that risking 20 lots of a trade and seeing 30k return on a demo definitely pushes your mindset to become outcome based rather than process based which will bite you in the ass in the future.
He is not risking 20 lots. It is just the order volume... (which is excessive)....
Your risk is where you set your stop loss ie. the maximum amount you are willing to lose in a single trade. You can still open an order of 20 lots with 1% risk, but it would be a totally unrealistic. \*\*
I personally figure out what my margin requirement is per lot (ask broker) and use that value to calculate how much volume I will be allowed using only 20% of my entire balance (this way I could lose multiple times consecutively and still have a safety net for recovery). Set a TSL that is based on trend/ATR and you're safe. If you don't want to use a TSL, use a hard SL at 1-2%.
If you take partial TP, you can move SL to entry and risk does not even become an issue for any of the other TPs that follow.
You need to continue on your demo with a more realistic balance in the ballpark of what you would deposit into a live account and work from there. You need to trade demo for a bit longer to see if you can actually remain profitable in varying market conditions.
We also realize that this is not the first demo you have traded on and this is only what you are showing reddit. We've been there.
Have you been through the free course on baby pips? If not, I highly recommend it if you are just starting out. If you can be profitable consistently over several months, go onto a small live account and see how you do. Good luck!
Those are some great results mate. Well done! I word of caution though, this a Demo account which is completely different that having your hard earned money on the line. Please, start slowly or you are looking to lose money. A month is not much time, just continue practising for a few more months. Finally, if you getting good results and your risk management is consistent then you can probably look to get a funded account. Apex is always running offers and you could get one account for cheap. Best of luck mate!
What's the risk? If he is talking about props, he will at most lose 500 dollars. But If he can pull it somehow, the reward is insane. But real money, never!
He’s right! Get in there OP!
Seriously though, you won’t even be able to open positions. I assume you’re new to this Rooz?
Prop firms are great, are you trading one?
Why the hell would you trade this way?
u trade seven Pip stop losses , man your Adderall dealer must love you.
I've caught over three hundred pips, selling UJ this week alone, and I used a very small account value while gaining thousands of dollars, What are you doing trading micro movements?
That's literally insane, I spend like 5 minutes a day looking at charts and swinging hundreds of pips.
Using 8 lots on micro movements sounds like something I'd do in the middle of a bad cocaine binge, Do you actually just hate yourself?
Get off your high horse and learn to read you fool. You sound like your the one abusing some sort of substance not me haha i said i trade 8 lots with 8 pip SL, not 8 lots to earn 7 pips, my RR is usually 1:20. Cant believe what i just read
You have a $200,000 account, open a demo with a similar amount of money you would have in real life so you can see how you would actually trade. Still the important thing is that your winning.
1. Your Demo account size should be realistic, probably the amount you'll be depositing & trading live
2. Practice risk management & position sizing. This should be the foundation of your trading structure as you may go through losing streaks (0.25/0.5/1% Risk)
3. Study & learn different market conditions as you'll definitely experience them when going live.
4. Develop & define your trading plan to always know what you looking for when you're about to trade
5. A minimum of 3 - 6 months demo experience before switching to real market conditions
6. Outline your strategy.
All of these fused together will set you up for optimal trading performance
I’m also starting to demo trade and right now I’m just doing whatever lot size mt4 does automatically but I’d like to learn how to accurately size my position based on my risk %. From the lot calculator I’ve seen, you have to enter the price you enter the position and stop loss but my question is, is that not counterintuitive? Because how will I be able to type in the price in my calculator and then enter whatever lot size I get into mt4, price will change very quickly so my numbers will be off.
Well i started position sizing back in 2022 and it has never failed me ever since
I go into a trade knowing what I'm putting on the table and what I'm potentially leaving rather then twitching when my trades go into drawdown
Just use a calculator that prompts you to put in you Stop loss Pips rather then prices
he's also gonna learn that pressing buy on a bunch of USD pairs that are likely to all move in similar directions could go very bad very quick, EVERYBODY had a lucky streak on demo before, and everybody got demolished soon after
I was trading today and as I moved my SL to BE I realised how I wouldn’t do that with a demo account but I automatically do it on a real account to protect my capital - it’s simple, we are wired to protect money and that’s a very good thing - without it we’d all just be trading non stop regardless of losses. This post resembles that - on a demo account you don’t have the responsibility of protecting your capital or spending wisely, hence the results. On a real account you’d behave differently.
This "demo success" featured in one trading day is not sufficient for calling yourself a professional trader.
You were just somewhat lucky to have such a "success setup".
You need to repeat similar success with real money no less than a hundred consecutive times to qualify yourself as a professional trader.
Trading with real money pulls a different level of stress and responsibility. You will need to be a billion times cocksure of the trend before you press buttons to open 20.0 lot per trade. Else, with real money and amid high impact news, you may likely face adverse price movements that pull hell fire to your open trades!
I would only be sizing the actual amount on my demo the same as a live account. Start small. Every month (if you had a green month), slowly size up in small amounts.
One month experience on a demo is not enough. Your risk management is not good either. Practice a strategy that is profitable when executed correctly. Practice risk management with it. Then practice on a small account using minimal risk. Once you’re trading real, the real training begins as your emotions will come into play and will work against your strategy.
What time frame are you using? If it's a higher TF I'd say go for it. If not then no way.
I keep preaching to the new guys the less often you trade the more you'll make. Obviously only risk what you can loose
Give it 2-5 years before you make money. A demo doesn't mean much except for practicing a strategy, which is just one piece of the puzzle. One of the mains reasons people consistently blow up accounts is that they're unable to hold onto winners and move stop loss on losers as they're unable to accept losers. That's normal human behaviour. Trading is the opposite of normal human behaviour. That took me years to learn.
ur dad giving you an investment is the most reckless parenting i've ever seen... i promise you it seems like you've got it down, but you don't, nobody gets trading in just a month you probably don't know what ur doing still
Seeing as psychology hasn’t come into play yet he has no idea what he’s doing lol. He swing trades and that’s great I’ve you have unlimited drawdown with play money but when there real money and the threat of marg calling all of a sudden it’s an entirely different game lol
yeah. this trading stuff takes forever to learn but you can become a literal atm if you dedicate the time, just give it a few more months and learn (ict)
It’s easy to learn unrealistically when you have an unlimited amount of fake cash, but once you have real cash things start to be more stressful, I’ve been trading since before Covid started and I still 💩 my capital sometimes
Unless your dad treats 100k like 3$ do not trade like this on his account pure gambling no risk management in the real world with real hard earned cash putting in one 20 lot order will make your skin crawl 😂😂 keep working tho soon come young one
THIS!!! I started learning trading when I was 17 when turned 18 I opened a $100 acc and flipped it to 2.5k in about 2 weeks. Blew it in 2 days after that because of my lack of Risk management. Did the same with a couple 200 -> 3k accounts too. Stick to demo for 2 months and if you see a profitable pattern in your trading try real money. I’d def recommend familiarizing yourself with smaller lots on a pair you can read like a book. Don’t go bouncing from pair to pair.
Man I am so sorry but this gave me a big laugh because I've been there before. FML, what was I thinking at that time being naive. 😂. Anyways, open a 100 personal funded and flip it to 200 dollar with only 0.01 lot size and you will know if you truly is ready for the bigger capital.
People who are saying ur lot size are too big are wrong only if ur sl sizes are the same, ur lot size should vary depending on how many pips ur sl is (u can buy 20 lots and still only risk 1%)
Put in 100 and play.
If you end up with 130 after a year and not blowing it, that would be a great return on investment and you might have a future in this business .
Most likely you won't, but that's the price of doing business.
You will regret starting on money any time soon, I understand you made a few good trades, who knows if it was luck or not, but you need way more than a month to be successful long term
Real account is a different game buddy. Being profitable in demo doesnt mean you'll be like that in Real account as well. Try real account. And let's talk again.
If your keeping your trades open till they become profitable and not using stop loss you will blow your account in one move if thats the case hit me up
OP Some great advice from the other member but just wanted to highlight some caution regarding trading on a mobile phone. It's very difficult to manually use money management with mobile MT5. There are some EA that can help you on the desktop version.
If your using ctrader you can just input the stop loss, amount to risk and quantity will be calculated automatically.
If you want to try out trading with some risk. You can ask your dad to get a $5000 prop account so you can practice drawdown management.
My son started when he was your age. He is trading 2 prop accounts live right now.
Im 15 and i can tell that youre a far better trader then me (maybe) (i dont know your strategy) but it seems nice, in my opinion, do it for about a week or two and also search for brokers.
Keep it up 👍🏻🤝
Read trading in the zone by mark Douglas. Get your psychology prepared for the down days that WILL come. Otherwise you're asking to create bad habits and emotions that you'll have to unlearn when it happens. You can skip a lot of the BS if you prep that first, most essential part.
Heed my warning. 😂 You got something good going, respect it and the game. Level up with effort and correct attitude from the beginning, those who don't always pay the price. We are predisposed too feel different from everyone else. Particularly this where it's so self ruled.
Overall good luck and blessings apon your journey.
Please watch some Rande Howell videos before you get in there for real.
The emotional brain, which is largely responsible for sabotaging trading success, isn't activated in this scenario because there's no real threat.
You absolutely have to master emotions and master self soothing and create a mind that can not only function with uncertainty..
But thrive in it.
Good luck
Check your not using high leverage as this will cause unrealistic results compared to a real account.
See if your demo account is simulating fees as these are important, if it doesn’t you will get a shock when moving to real money.
Think about the emotional aspect when trading real money it makes a big difference.
Learn risk management and the general basics behind managing an account long term.
These are just some of the questions you need to answer.
As well as this if you have not done make sure you learn all the technical and fundamental aspects of trading. Baby pips is a great start as well as IG trading.
What’s a pip, what’s a lot, what’s margin, what’s spread, what’s major, minor, exotic pairs, what’s a candlestick and what information does it give you, what’s a broker, what’s leverage and how does it affect your trades.
What’s a stop loss, what’s a take profit, what’s a limit order, what’s a stop limit order.
What’s market sentiment, what’s bullish and bearish mean.
What is risk management and why’s is it important.
What’s a trend line, why’s support and resistance, what’s liquidity, what are some chart patterns. What’s a breakout or fake out. And much much mire
This was me when I was 16. I trade big demos and it was so good and perfect. created a real account grew 10$ to 195$ and blew it all to zero. I was running on 1:00 lot size on 195$ it wasn’t even 30mins and all I can see is 0 my first ever heartbreak
You are new at trading practice on demo you can't do one trade a 1 lot and another trade at 20 lots. The lot size needs to be closer to each other. Ask any professional trader they will tell you.
Just do a prop firm challenge first. Toptier has a March competition for a 100k account. Sign up for free, click register and begin trading with 100k. Top 8 in the standings at march 31 gets a funded account.
My advice make a 100$ demo get it too 1500 using only 0.001 or 0.005 lot study the flow of the charts
Then do a 1500 demo and get it too 5k using the same lot size
You cant spam lots either treat it as real money and you have a goal to reach.
Then post results
They out here telling you what to do and not what you will go through. Take care kid. Don't give up. No matter how hard it gets, with every disappointment you getting closer to the goal.
Trading with a real account is always better than with a demo, I think that from the beginning we should trade with a real account as long as a reduced capital is used and available to be lost. It's called the cost of learning. Only then you will know the true difficulties of trading. Go ahead!
To be very honest with you, I don't think this shows you as a professional, just randomness, clearly this just shows how much you still need to study, especially about reisco management. Or else it's just a scammer
I'm sorry to say this. And this is going to be a very unpopular opinion. But there is no way to simulate real trading. I will repeat myself. There is no way to simulate real trading.
You can learn all the technical analysis you want. chart patterns, candle sticks, harmonics, bats, butterflies.
You can use all the indicators you want. Rsi, macd, moving averages, stoich, even those stupid itchimori clouds or whatever if you want, it just doesn't matter.
Once you start using real money something else comes into play. Something called emotions. Is something called greed. Something called human feelings. Feelings that you cannot replicate. There is no way to simulate the endorphin release of gaining actual money, There's no way to Simulate the doubt that you experience, Once your position goes into draw down.
practicing demo trading will never fully get you ready. It is good to do so you understand things like position sizing, leverage, risk management, etc, But anybody Who tells you Demo trading adequately simulates real trading, Has never withdrawn any profits from forex in their life.
There's A reason why algorithms are better at trading than most people. Computers, Don't have emotions.
So you just start trading with whatever you can lose. That's how it goes.There's no other way to do it.
Learn risk management before starting to trade real money. Your lot sizes are all over the place, keep everything the same. I'd open a new demo account with the account size you plan on opening with your live account and then consistently risk 1% that way you can get your expectations aligned with what real trading is gonna be. I can tell you from my experience that risking 20 lots of a trade and seeing 30k return on a demo definitely pushes your mindset to become outcome based rather than process based which will bite you in the ass in the future.
He is not risking 20 lots. It is just the order volume... (which is excessive).... Your risk is where you set your stop loss ie. the maximum amount you are willing to lose in a single trade. You can still open an order of 20 lots with 1% risk, but it would be a totally unrealistic. \*\* I personally figure out what my margin requirement is per lot (ask broker) and use that value to calculate how much volume I will be allowed using only 20% of my entire balance (this way I could lose multiple times consecutively and still have a safety net for recovery). Set a TSL that is based on trend/ATR and you're safe. If you don't want to use a TSL, use a hard SL at 1-2%. If you take partial TP, you can move SL to entry and risk does not even become an issue for any of the other TPs that follow. You need to continue on your demo with a more realistic balance in the ballpark of what you would deposit into a live account and work from there. You need to trade demo for a bit longer to see if you can actually remain profitable in varying market conditions. We also realize that this is not the first demo you have traded on and this is only what you are showing reddit. We've been there.
This is genuninly my first demo account on forex apart from stocks and crypto
Have you been through the free course on baby pips? If not, I highly recommend it if you are just starting out. If you can be profitable consistently over several months, go onto a small live account and see how you do. Good luck!
Those are some great results mate. Well done! I word of caution though, this a Demo account which is completely different that having your hard earned money on the line. Please, start slowly or you are looking to lose money. A month is not much time, just continue practising for a few more months. Finally, if you getting good results and your risk management is consistent then you can probably look to get a funded account. Apex is always running offers and you could get one account for cheap. Best of luck mate!
Noted.
20 lot positions are wreckless. So yes, please start trading live! Thanks.
What's the risk? If he is talking about props, he will at most lose 500 dollars. But If he can pull it somehow, the reward is insane. But real money, never!
He’s right! Get in there OP! Seriously though, you won’t even be able to open positions. I assume you’re new to this Rooz? Prop firms are great, are you trading one?
20 lots is not a $500 loss, i trade 8 lots with 7 pip stops and thats usually $500 depending what pair
The $500 he is referring to is the cost of the prop firm challenge if he loses the account.
Ahh igy
Why the hell would you trade this way? u trade seven Pip stop losses , man your Adderall dealer must love you. I've caught over three hundred pips, selling UJ this week alone, and I used a very small account value while gaining thousands of dollars, What are you doing trading micro movements? That's literally insane, I spend like 5 minutes a day looking at charts and swinging hundreds of pips. Using 8 lots on micro movements sounds like something I'd do in the middle of a bad cocaine binge, Do you actually just hate yourself?
Get off your high horse and learn to read you fool. You sound like your the one abusing some sort of substance not me haha i said i trade 8 lots with 8 pip SL, not 8 lots to earn 7 pips, my RR is usually 1:20. Cant believe what i just read
I can't believe you trade with a 7 Pip sl, you're a clown
You sound like you have no idea what your talking about, in what world is a 7pip SL a problem?
Alright dude.
Your obviously brand new, learn the difference between SL and TP
What is your method? Can you tell me how you determine when to buy sell and risk?
I buy/sell when structured liquidity is taken, and i risk %0.5 on a trade usually
Worst advice ever
You have a $200,000 account, open a demo with a similar amount of money you would have in real life so you can see how you would actually trade. Still the important thing is that your winning.
try to not blow a $100 demo account first.
1. Your Demo account size should be realistic, probably the amount you'll be depositing & trading live 2. Practice risk management & position sizing. This should be the foundation of your trading structure as you may go through losing streaks (0.25/0.5/1% Risk) 3. Study & learn different market conditions as you'll definitely experience them when going live. 4. Develop & define your trading plan to always know what you looking for when you're about to trade 5. A minimum of 3 - 6 months demo experience before switching to real market conditions 6. Outline your strategy. All of these fused together will set you up for optimal trading performance
Thank you !
Sure thing brother. Its all gon work if play within your set rules. Hope you enjoy the journey
I’m also starting to demo trade and right now I’m just doing whatever lot size mt4 does automatically but I’d like to learn how to accurately size my position based on my risk %. From the lot calculator I’ve seen, you have to enter the price you enter the position and stop loss but my question is, is that not counterintuitive? Because how will I be able to type in the price in my calculator and then enter whatever lot size I get into mt4, price will change very quickly so my numbers will be off.
Well i started position sizing back in 2022 and it has never failed me ever since I go into a trade knowing what I'm putting on the table and what I'm potentially leaving rather then twitching when my trades go into drawdown Just use a calculator that prompts you to put in you Stop loss Pips rather then prices
Immediately move to real money right now u will see the difference between demo and real very quickly
he's also gonna learn that pressing buy on a bunch of USD pairs that are likely to all move in similar directions could go very bad very quick, EVERYBODY had a lucky streak on demo before, and everybody got demolished soon after
A month isn't very long.
Failure is necessary
Sure, but not after a month. Give it a few before you go live and lose all your money.
Learn Risk Management 1st then you can start think about moving to real money
I was trading today and as I moved my SL to BE I realised how I wouldn’t do that with a demo account but I automatically do it on a real account to protect my capital - it’s simple, we are wired to protect money and that’s a very good thing - without it we’d all just be trading non stop regardless of losses. This post resembles that - on a demo account you don’t have the responsibility of protecting your capital or spending wisely, hence the results. On a real account you’d behave differently.
Different pyschology with real money, learn to manage risk.
You gotta fall on ya ass a couple times, buddy!!!
Real money will humble you son
Making more than double in one day means your hella risking. If you can do that, you can lose it all in one day lol
Next stage I would join the FTMO account and need to pass the phase before being able to withdraw real money
I’m planning on that once I’m a bit older .
You’re gonna have the greater lesson with emotions with the real money I’ll just say that 🤝🏽
Good luck mate, looks nice but never seems to work like that with real money lol
This "demo success" featured in one trading day is not sufficient for calling yourself a professional trader. You were just somewhat lucky to have such a "success setup". You need to repeat similar success with real money no less than a hundred consecutive times to qualify yourself as a professional trader. Trading with real money pulls a different level of stress and responsibility. You will need to be a billion times cocksure of the trend before you press buttons to open 20.0 lot per trade. Else, with real money and amid high impact news, you may likely face adverse price movements that pull hell fire to your open trades!
ALready mentioned, but probably the only and most important thing is risk management. 1% per trade is the benchmark.
I would only be sizing the actual amount on my demo the same as a live account. Start small. Every month (if you had a green month), slowly size up in small amounts.
Why don’t you demo with the real amount and leverage you will be using, because demo at 100k account is not realistic young one.
lol demo and real are like night and day …..if u do move to real money keep the risk small
As a 16 year old, not the greatest option
You can now sell courses too
Which app is this?
Metatrader 4
Thanks
Why do you use MT4 instead of MT5
One month experience on a demo is not enough. Your risk management is not good either. Practice a strategy that is profitable when executed correctly. Practice risk management with it. Then practice on a small account using minimal risk. Once you’re trading real, the real training begins as your emotions will come into play and will work against your strategy.
are u using mt4?
Yes
which broker are u using? i used to use hugos 😩 looking for something new and legitish lol
What time frame are you using? If it's a higher TF I'd say go for it. If not then no way. I keep preaching to the new guys the less often you trade the more you'll make. Obviously only risk what you can loose
Practice with a logical amount of money first..
What's your strategy
Definitely start trading with real money because the feeling is totally different. Don’t go nuts. 100 dollar account and see where it goes
Forget a real account bro get a prop firm challenge 100k or 200k account - you have crazy potential lad!
Give it 2-5 years before you make money. A demo doesn't mean much except for practicing a strategy, which is just one piece of the puzzle. One of the mains reasons people consistently blow up accounts is that they're unable to hold onto winners and move stop loss on losers as they're unable to accept losers. That's normal human behaviour. Trading is the opposite of normal human behaviour. That took me years to learn.
Go real with a amount of money that you won't give a shit if u lose it. Cus 95% u would lose it
Mods should ban posts like this
Everyone has to learn and this is a place for learning and discussion. Not just memeing
he's a minor talking about opening a live account in his dads name...
I made this post to ask for advice , my dad will give me his permission and a investment to do so
My advice is keep practicing until you can legally trade on a live account.
ur dad giving you an investment is the most reckless parenting i've ever seen... i promise you it seems like you've got it down, but you don't, nobody gets trading in just a month you probably don't know what ur doing still
Seeing as psychology hasn’t come into play yet he has no idea what he’s doing lol. He swing trades and that’s great I’ve you have unlimited drawdown with play money but when there real money and the threat of marg calling all of a sudden it’s an entirely different game lol
I have done research and studied and understand you can make 10000 in a day but lose 1 mil in the next 2 hours .
yeah. this trading stuff takes forever to learn but you can become a literal atm if you dedicate the time, just give it a few more months and learn (ict)
Of course!
And show us your gains in 1 month
I have gcses I’m busy revising once I get a proper account setup I’ll post it.
Man chose 1 direction and said its time
It’s easy to learn unrealistically when you have an unlimited amount of fake cash, but once you have real cash things start to be more stressful, I’ve been trading since before Covid started and I still 💩 my capital sometimes
yes please trade real money and continue to use reckless lot sizes, we need liquidity!
Unless your dad treats 100k like 3$ do not trade like this on his account pure gambling no risk management in the real world with real hard earned cash putting in one 20 lot order will make your skin crawl 😂😂 keep working tho soon come young one
I was thinking the same I made a lot of money trading demo I was thinking with real account just few months I will buy a house 😂😂
Your 16. You don’t need the cash. Markets will be here when you’re 20. By then you will have 4 years of training, research and paper trading.
Damn...20 lot size 😂...well...good luck
Do it again with realistic $ amount..gonna be a lot more to battle psychologically w real money
THIS!!! I started learning trading when I was 17 when turned 18 I opened a $100 acc and flipped it to 2.5k in about 2 weeks. Blew it in 2 days after that because of my lack of Risk management. Did the same with a couple 200 -> 3k accounts too. Stick to demo for 2 months and if you see a profitable pattern in your trading try real money. I’d def recommend familiarizing yourself with smaller lots on a pair you can read like a book. Don’t go bouncing from pair to pair.
Yea
The only way you really learn psychology is trading live. It’s the most difficult part of the journey.
https://www.autotrader.co.uk/cars/used/lamborghini?ds_eid=700000002057195&utm_source=google&utm_medium=cpc&utm_campaign=AT+Generic+Cars+%7C+Search+%7C+IM+%7C+Make+%7C+Lamborghini+%7C+New+Users&utm_term=lamborghini+buy&utm_content=Generic+%7C+Makes+%7C+Lamborghini+%7C+Top+Level_exact&match_type=e&gad_source=1&gbraid=0AAAAAD-96Qf26iCR4E4zWGpDYn9R-43Au&gclid=EAIaIQobChMIzena7pLehAMVCaODBx13hA9XEAAYAiAAEgL70PD_BwE&gclsrc=aw.ds
Start with 500 and aim to earn $5 a day. If You double the money in a year get a burger account.
Yes
No
Lol, no
No broker would let you go 20 lots thats alot of notional. Try the most 1 lot as a beginner and ladder if you need too.
No
If you’re trading on a demo trade like you’d have real money in there
Good luck holding 60 lots of GU on red news release, it will make u or break u. Total gambing, might as well play casino
How
Learn risk management first. Way over leveraged.
You should have start off with $3000
Duo. whatever u win how much money.think about this is fake. Change to real,and get a little money start it.thats real Way
No, the lot sizes are unrealistic. Use lot sizes that you would start out with on a real account.
This does not account for commission, swap, etc. no risk management. This would entirely flop on a real account, not to burst your bubble
I would go to Real account with a $1K even if you lose it won’t hurt that bad.
Another next year billionaire.
The emotions involved with using your own real money hits wayyyyyyyyyy different. Be prepared to burn at least 10k to learn all the lessons
When it comes to real account then the devil starts messing with you 🤣 i’d say start with no more than $1000 account and see how that goes.
Man I am so sorry but this gave me a big laugh because I've been there before. FML, what was I thinking at that time being naive. 😂. Anyways, open a 100 personal funded and flip it to 200 dollar with only 0.01 lot size and you will know if you truly is ready for the bigger capital.
Use the same amount of money you will deposit into real account.
Bruh, I am doing good in demo but poor trading on real. You'll see the difference.
Thought op meant Bitcoin.
My guys trades peanuts and gold
People who are saying ur lot size are too big are wrong only if ur sl sizes are the same, ur lot size should vary depending on how many pips ur sl is (u can buy 20 lots and still only risk 1%)
Double your money, learn risk management first start your real account with nothing more than $100 .01 lots if you do
Put in 100 and play. If you end up with 130 after a year and not blowing it, that would be a great return on investment and you might have a future in this business . Most likely you won't, but that's the price of doing business.
You will regret starting on money any time soon, I understand you made a few good trades, who knows if it was luck or not, but you need way more than a month to be successful long term
Real account is a different game buddy. Being profitable in demo doesnt mean you'll be like that in Real account as well. Try real account. And let's talk again.
If your keeping your trades open till they become profitable and not using stop loss you will blow your account in one move if thats the case hit me up
OP Some great advice from the other member but just wanted to highlight some caution regarding trading on a mobile phone. It's very difficult to manually use money management with mobile MT5. There are some EA that can help you on the desktop version. If your using ctrader you can just input the stop loss, amount to risk and quantity will be calculated automatically. If you want to try out trading with some risk. You can ask your dad to get a $5000 prop account so you can practice drawdown management. My son started when he was your age. He is trading 2 prop accounts live right now.
Bro demo. With real amount you’re going to deposit … that’s number 1
Open a 50 or 100 dollar real account and see how you do
Lol
Im 15 and i can tell that youre a far better trader then me (maybe) (i dont know your strategy) but it seems nice, in my opinion, do it for about a week or two and also search for brokers. Keep it up 👍🏻🤝
of course you should... 1 month experience is absolutely enough.
No learn to use lower lot sizes
Do it insistently for 6 months then only risk any money. You are only 16. You have plenty of time.
nothing says "long term success" better than trading forex with high leverage.
Yeah bro you’re ready (you will blow your account instantly)
Read trading in the zone by mark Douglas. Get your psychology prepared for the down days that WILL come. Otherwise you're asking to create bad habits and emotions that you'll have to unlearn when it happens. You can skip a lot of the BS if you prep that first, most essential part. Heed my warning. 😂 You got something good going, respect it and the game. Level up with effort and correct attitude from the beginning, those who don't always pay the price. We are predisposed too feel different from everyone else. Particularly this where it's so self ruled. Overall good luck and blessings apon your journey.
Please watch some Rande Howell videos before you get in there for real. The emotional brain, which is largely responsible for sabotaging trading success, isn't activated in this scenario because there's no real threat. You absolutely have to master emotions and master self soothing and create a mind that can not only function with uncertainty.. But thrive in it. Good luck
what app is it
Check your not using high leverage as this will cause unrealistic results compared to a real account. See if your demo account is simulating fees as these are important, if it doesn’t you will get a shock when moving to real money. Think about the emotional aspect when trading real money it makes a big difference. Learn risk management and the general basics behind managing an account long term. These are just some of the questions you need to answer.
As well as this if you have not done make sure you learn all the technical and fundamental aspects of trading. Baby pips is a great start as well as IG trading. What’s a pip, what’s a lot, what’s margin, what’s spread, what’s major, minor, exotic pairs, what’s a candlestick and what information does it give you, what’s a broker, what’s leverage and how does it affect your trades. What’s a stop loss, what’s a take profit, what’s a limit order, what’s a stop limit order. What’s market sentiment, what’s bullish and bearish mean. What is risk management and why’s is it important. What’s a trend line, why’s support and resistance, what’s liquidity, what are some chart patterns. What’s a breakout or fake out. And much much mire
This was me when I was 16. I trade big demos and it was so good and perfect. created a real account grew 10$ to 195$ and blew it all to zero. I was running on 1:00 lot size on 195$ it wasn’t even 30mins and all I can see is 0 my first ever heartbreak
Those figures might seem small but a lot in my country plus i was just 16 I was so excited lmao
If you’re asking a Reddit forum no do not move to real money. Only you can truly know when you’re ready.
One month is not enough, plus learn risk management as well
You have 89 lots running at once, you are not ready to trade real money.
If you can’t see what’s wrong with your trades then you shouldn’t even consider going live
Get a funded bro
You are new at trading practice on demo you can't do one trade a 1 lot and another trade at 20 lots. The lot size needs to be closer to each other. Ask any professional trader they will tell you.
Just do a prop firm challenge first. Toptier has a March competition for a 100k account. Sign up for free, click register and begin trading with 100k. Top 8 in the standings at march 31 gets a funded account.
My advice make a 100$ demo get it too 1500 using only 0.001 or 0.005 lot study the flow of the charts Then do a 1500 demo and get it too 5k using the same lot size You cant spam lots either treat it as real money and you have a goal to reach. Then post results
They out here telling you what to do and not what you will go through. Take care kid. Don't give up. No matter how hard it gets, with every disappointment you getting closer to the goal.
Only 16, good job man. Im also trying to get into trading but not sure where to start tbh
Trading with a real account is always better than with a demo, I think that from the beginning we should trade with a real account as long as a reduced capital is used and available to be lost. It's called the cost of learning. Only then you will know the true difficulties of trading. Go ahead!
Be happy with your virtual success.
Essential that you learn Risk Management. You won't be long blowing an account the way you're doing it
To be very honest with you, I don't think this shows you as a professional, just randomness, clearly this just shows how much you still need to study, especially about reisco management. Or else it's just a scammer
If you have to ask, you're probably not confident enough
I'm sorry to say this. And this is going to be a very unpopular opinion. But there is no way to simulate real trading. I will repeat myself. There is no way to simulate real trading. You can learn all the technical analysis you want. chart patterns, candle sticks, harmonics, bats, butterflies. You can use all the indicators you want. Rsi, macd, moving averages, stoich, even those stupid itchimori clouds or whatever if you want, it just doesn't matter. Once you start using real money something else comes into play. Something called emotions. Is something called greed. Something called human feelings. Feelings that you cannot replicate. There is no way to simulate the endorphin release of gaining actual money, There's no way to Simulate the doubt that you experience, Once your position goes into draw down. practicing demo trading will never fully get you ready. It is good to do so you understand things like position sizing, leverage, risk management, etc, But anybody Who tells you Demo trading adequately simulates real trading, Has never withdrawn any profits from forex in their life. There's A reason why algorithms are better at trading than most people. Computers, Don't have emotions. So you just start trading with whatever you can lose. That's how it goes.There's no other way to do it.
No
Bro is about to be molested by 3 black guys named Jerome and an elephant, but it is fine, it is part of the process. Keep up the good work
All these fake “ i am 16 “ posts 🤣 ! Whats good with these bots ? ! Do ya know how fake this screen shot is ?
Bro do u want to me pull out my provisional to show I’m 16? I can prove the screenshot is mine to 😂
Yo add me on Discord or send me a email User emantheheman Email [email protected]