New Member - Hello - Play trading

[16bit]

Hello all.

I am a new member and this is my first post.

I am currently play trading and will continue to for some time until I can see a consistent performance in my trades and am more confident that I can replicate the results.

I have only been play trading for a 2 days.

I have been trading USDOLLAR and AUD/USD.

I have had quite a bit of success thus far.

My play account started with $50,000 and after 2 days I am currently at just under $58,000 which is about 16%.

Reading I have done suggests 10-15% a month is good. I tend to think that I am having a little bit of beginners luck.

I appreciate any and all comments and thank you all in advance for advice/comments.

 

[Enivid]

What is "USDOLLAR" you are trading? 16% in two days may be great and may be not. What risk was on the trades to get that ROI?

 

[16bit]

not sure, just comes up on the platform. seems to be and index of sorts.

it was something like 10,689.

the most i have ever had exposed was about 15k.

most of the trades on aud/usd was about 2500.

trading mainly off 1 minute charts and holding positions for about 15 or so minutes depending on what they are doing.

not sure if that would translate for real or not. seems too good to be true.

 

[Enivid]

15k is 30% of your 50k balance. That's a rather huge risk to take.

 

[16bit]

i c, that might explain it!

probably not have the balls to risk that much of real money i suppose.

 

[mumuy]

try using support and resistance, and add stop loss and take profit in your trading

 

[mumuy]

or try to trade gold

 

[Fxpipper]

Welcome to the forum and on the demo, you may want to set it up as per the live account you may want to go with, in the future. On the 30%, way too risky. Try to read up on some of the free resources and on MM.

 

[16bit]

thanks all for the replies.

i have been continuing to trade. up about 40% now in a week (50k to 70k)

my strategy is playing out for the moment. i will continue to use the same and log results to see if its a viable long term strategy.

 

[Fxpipper]

Do you use tech analysis, indicators to enter positions other than the gen trend?

 

[16bit]

i use indicators.

i use SMA set at 7 and 200

Bollinger bands and also MACD.

based on what I have read it helps me make decisions on short and longer term trends.

so far its working well. in the past two weeks (only traded every second day or so) i am up over 50%.

pot started at 50k as above and is now around 77k.

 

[BlindFA]

Sounds like you're having a lot of fun! That's great.

Keep in mind that you're probably risking way too much and that would be very bad if you were trading real money. I'm not saying don't do it, i'm saying be aware. By all means, have fun on a demo account (or a real account, if you're a billionaire, who knows )

 

[vlad vlad]

Hi everyone! I am new here nad new to FX. Would like to learn a lot but do not know which course is not a scum. Have found this on yt.

http://www.youtube.com/watch?v=UXF3W...&feature=share


They are doing LTR. have you ever been to such a thing. Is it worth? I believe that if someone shows what he can live it must be quite something.


What's your opinion on this?

 

[Fxpipper]

If you are not an advanced trader, there's not much you can get from a paid course that you can from free online courses like baby pips school..
Just my 2 cents.

 

[vlad vlad]

I thnk I know what you mean. You cannot move on into serious things about fx without knowing the basics especially in paid courses. But on the other hand I think watching someone trading live might be very very helpful. Not many traders showing their skills out there. and this one is for free.

I have seen so many courses and perhaps pseudo-traders luring to enroll, sure some of them have statements, credentials etc but when I asked (most of them were scalpers couse I am into scalping) if there is a chance they can show me few positions taken, no indicators no method, just pure graph and their entry, then sl or tp, real time, might be demo - they simply did not want and stopped contacting me any more

I will join this opportunity for sure. Maybe not all the sessions but two-three and will see how they view it, what are the results etc. It seems to be credible. No mater what will happen next, how much they would charge for training, this idea appeals to me a lot becouse its not many actions like that out there.

 

[Fxpipper]

Sure but just remember, it's your money and yes I know, the temptation to start trading right away. Just make sure that the course fees do not go into hundreds and when you do decide to go live, go small.

 

[vlad vlad]

Going live small is very true! Thx for the advice. I have read it should be this way but nice to have the impression someone thinks the same All I need is to find out if the course/traders are credible Hopefully these ones are!

 

[Fxpipper]

You're welcome and just check and see if it is possible for you to pay by module rather than front up all the $$$ right away..just a suggestion and hey, good luck, update the thread later on how it turns out.

 

[vlad vlad]

Thanks. I hope they're serious about what they're doing. Will update the thread after the LTR. Cheers

 

[michael77]

It sounds really excellent performance, but you did not mention yet, is that the result of your demo trading or is that the result of your real trading? If it is the result of demo trading then don't be too excited. Keep it mind that there is real difference between real trade and demo trade.