[Chunnel]

Originally Posted by bobneedham

I have recently started trading forex. I learned mostly from articles on the internet. I used a demo account from ufxbank. I demo trade every day and treat it as if I was really losing money.

Anyway, after a week of testing, I finally decided to be a little aggressive and managed a win of around $1,700. Cool. If only this was real money. I decided to lower my bets to $340, just to be on the safe side. I took loss but still decided to go up to $380. I was taking profits like $1, $2, $5 or even $0.33.

After 2 weeks, I finally decided to open a micro account and made my first real deposit. I traded and took profits like $0.33, $1, $7 and so on. and added $125 to the account in just one trading day.

I decided to trade again the next day but I guess the market was against me. I kept shorting but was kicked by a margin call. I decided to go aggressive to recover the cost. Yet I lost another round and my account fell below $100.

Lesson learned: never get bored with a demo account, unless you're absolutely sure you're ready to stop greed from taking over your trade.

Greed is something that can be shut out with an expert advisor (but to develop one you'll need to find a strategy that works for you and transalte it into a program.)