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Demo Forex VS Real Forex

  • #1
  • Quote
  • First Post: Apr 4, 2007 10:12pm Apr 4, 2007 10:12pm
Hi all,

I'm new to Forex, and I've opened a demo account to GCI.
I like their platform, and I've started with 50 000 USD virtual money.

After 2 days, I went down to 30 000 USD and was about to stop everything.

I've decided to change my methodology, and I rised the account to 78 000 in 2 days.

But again I made a bad choice and this time I went down to 18 000

After that I've done a serious brainstorming and I've found a method that works for me... in one week my account has : 1 800 000 USD!!!

Wow. The question I have is : does these demo can be compared with the real Forex and is there a difference? Are the orders passed immediately (if for exemple the curve goes up very quickly and very high, and I sell, will it be taken in account quickly as in the demo?)

I use to work on very short time (in minutes) selling if I'm wrong, and keep if I'm on the right way until I think it will change... this is working very well, but will this work in the real Forex???
  • #2
  • Quote
  • Apr 4, 2007 10:17pm Apr 4, 2007 10:17pm
Keep trading the demo account without overextending yourself and if you consistently make profit without large drawdowns then you could consider trading for real. As long as you start off small that is.
  • #3
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  • Apr 4, 2007 10:20pm Apr 4, 2007 10:20pm
Quoting nikko
After that I've done a serious brainstorming and I've found a method that works for me... in one week my account has : 1 800 000 USD!!!
Wow, any wows or just just click click when you think it's time? This method can make decent profits till time Dunno how it works but works... till time comes

However demo can't be compared anyhow to real money - your money. It's much easier. Even playing long time with real money I've got much better results on demo account even just clicking, just don't care if I'm -x0 000, I forget about it just to see that after a week TP triggered...
  • #4
  • Quote
  • Apr 4, 2007 10:34pm Apr 4, 2007 10:34pm
Yes I'll start with 500 USD on the MiniForex. If I can't fund my account quickly (goes up to 2000 USD) then I'll estimate I'm not capable of playing that game...

But I've some doubt that the orders are passed that quick in the real Forex... there are so many poeple buying and selling, the rate you sell sometime stays less than a second at this position, so the demo are just selling, but inthe real Forex, it must be send on the market, bought, and I'm a effraid it must take some time? Or is it really immediate?
  • #5
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  • Apr 4, 2007 11:27pm Apr 4, 2007 11:27pm
Demo are just that DEMO..

No pressure to win; no pressure to do MM; no pressure to think properly; all the reason to be an idiot..

You dont learn from DEMO other than knowing you are being idiotic doing demo and wasting time.
  • #6
  • Quote
  • Apr 4, 2007 11:38pm Apr 4, 2007 11:38pm
if your account went from 18000 to more than a million in one week, i would said that you got lucky with a crazy use of leverage (500)

There is an article about someone making more than a million in a few weeks and then lost his trousers/shorts/shoes etc... in few days...

leverage is a great tool but using it at full is dangerous
  • #7
  • Quote
  • Apr 5, 2007 12:31am Apr 5, 2007 12:31am
The leverage is 200.
When I was at 50 000 I was buying 100, and selling 2min after when it was going up.
At 500 000 was buying 500.
IT grows fast. But if I lose I don't wait, I sell.

I've made some loss of course. But I've not been in a rally at all, just buying selling...
  • #8
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  • Apr 5, 2007 12:52am Apr 5, 2007 12:52am
This is interesting. I was thinking the same. But I changed my mind.
Here is what I did. I was playing on live accout since I got to Forex, suprisingly I lost all my money only after 7 months. Now I play on Demo only and see no difference. If I lose money on demo,I get the same feeling as I would lose real money. If I win money on demo I get absolutely the same feeling as it was real money.
So I do not know what better for someone, but for me playing on demo is working great, untill I feel again urge to play on real money. And this will happen only if I find something that will work good at least on Demo.
I really have tough time to understand why people who was long time on Forex suggest newibe lose money on real account, without even have a chace. This chance might be if at least you winning money on demo.

I did not intend to say someting offensive just want to say my opinion that I feel strong about.
Andrey

Quoting BurgerKing
Demo are just that DEMO..

No pressure to win; no pressure to do MM; no pressure to think properly; all the reason to be an idiot..

You dont learn from DEMO other than knowing you are being idiotic doing demo and wasting time.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #9
  • Quote
  • Apr 5, 2007 1:24am Apr 5, 2007 1:24am
Quoting BurgerKing
Demo are just that DEMO..

No pressure to win; no pressure to do MM; no pressure to think properly; all the reason to be an idiot..

You dont learn from DEMO other than knowing you are being idiotic doing demo and wasting time.
In another thread someone compared demo trading to masturbation and live tradint to the real thing; it was a good comparison.
  • #10
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  • Edited 5:09am Apr 5, 2007 4:59am | Edited 5:09am
I think I'm going to try the real account, this demo account is too much frustrating...

I've 2.18 M USD on my virtual account now... too easy to be real... does anyone here had the same experience on demo account and then it was not working as good in real account?
  • #11
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  • Apr 5, 2007 5:24am Apr 5, 2007 5:24am
open an account with InterbankFX for $250 and trade 0.01 mini lots. thats $0.01 per pip. it's as harmless as demo but is real. don't increase the lot size until you know what you are doing. can get boring to make a 1$ in a good day, lol.
  • #12
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  • Apr 5, 2007 5:44am Apr 5, 2007 5:44am
better start thinking about how many pips you got per day or per week better the last one.

if you can consistently make let's say 25 pips per week (just 5 per day), then you have made it, try to do that for 15 weeks in a row with a real account.

you'll find out that sometimes is very easy to loose 10, 20, 30 sometimes even more pips in just one trade.
  • #13
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  • Apr 5, 2007 5:53am Apr 5, 2007 5:53am
I think most people find the psychology of live trading totally different to that of demo trading. When real money is on the line, fear and greed prompt you to behave in ways that will hurt you, taking profits too quickly and letting losses run until they make a serious hole in your account, when you should be doing the reverse. This crucial element is missing in a demo environment, so in this respect you can't compare it to the real thing. The bottom line is that you can take risks with virtual money that you would never take in real life (if you have any sense!).

Having said that, demo trading is a good way to learn the mechanics of trading (or of a new platform) before you go live. It's also good to go back to trading a demo account as a safe way of forward testing new strategies before trying them out for real.
  • #14
  • Quote
  • Apr 5, 2007 5:56am Apr 5, 2007 5:56am
Well I've 2.5 M now.
I've made a test with a friend, he followed my instructions and he made 10 000 USD from his demo account.

Why doing 5 pips / day when you can do 40 pips a trade, 20 times a day?
  • #15
  • Quote
  • Apr 5, 2007 6:09am Apr 5, 2007 6:09am
Quoting dunningduke
In another thread someone compared demo trading to masturbation and live tradint to the real thing; it was a good comparison.
LOL.

Ain't nothin' like the real thing. . . and i've had 25 years of a reeeaaallly good thing in my marriage. Oppps, and now back to our topic....grin :

My recomendation is find a model that suits your style/personality, trade if for a time to get familiar with the setups, then begin trading a live micro account at ten-cents-a-lot and begin trading even with a real margin of say 1 to 1. . . if you open an account with 1,000 USD the trade one lot (which is equal to controling 1,000 USD of the currency traded if Eur/USD or similar pair).

You won't get rich, but you will now be trading real monies and then just increase the lots as time and your talents increase also.

: ) Thom
  • #16
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  • Apr 5, 2007 6:25am Apr 5, 2007 6:25am
Well I stop today...2.7 M in account,started with 18 000 USD
not bad.

I'll try next week with a real account. Starting with 500 USD.

I'll post here my trades and my feedback about the demo vs reality.
  • #17
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  • Apr 5, 2007 6:48am Apr 5, 2007 6:48am
Nikko - if possible, trade a 'micro' account. $500 isn't really enough for a mini with high leverage (you'll get margin calls very quickly if a trade goes against you). Hope your run of success demo-trading continues when you get started with real money!
  • #18
  • Quote
  • Apr 5, 2007 7:06am Apr 5, 2007 7:06am
Well I think I'll buy 1, sell one until I get 2000.
If I do the same as I did last week. Using the same methodology it should be ok. I always keep 50% of the money in my account, and I do sell as soon as it goes against me... well except if it is a spike.
You are right, spikes can kill you. But in a certain way, I like to be in a very hard situation, so everything can only be better.
I far as I see, Forex is a game. I think we need to see it as a game, and never be effraid of buying selling fast. Think in a second, act in a fraction of seconds. And bid on risky thing : Gold, Pesos, SEK, INR whatever that can get you high quickly.
I can't understand the ones who think : I'll do 5 pips a day... that's crazy, we are here to become rich, no risks = no way to win a lot of money. In that case I prefer go in a regular work with a boss over me.
I've rised my account to 2.6M USD doing no more than 10k, 20k / trades. I've done sometime 20/ 30 trades with no loss in less than one hour.
Forex is my new prefered video game.
Started at 0 (well 500) if I've 100k, I'll never have fear, or worry about a decision.
If someday I loose everything, I'll have lost 500... I don't care.

See you soon
  • #19
  • Quote
  • Apr 5, 2007 7:38am Apr 5, 2007 7:38am
Most Demo Accts are Simulated Prices meaning that they are often close but not neccessarily the Real Price. You may find it to cause a difference in your method. Maybe not. ?

As long as you can {apparently} maintain the mental proess of Easy Come Easy Go, {I think you said something like from 78K back down to 18K} whatever floats yer boat I suppose. I know that losing 60+K on a couple of trades would send me back to the drawing board at a gallop but...

I sincerely wish you luck and if you have any, your $500 may take a month or so before it is worth >$1M.

If it doesen't work I would suggest reading Diall's Sticky's in this Forum re MM.
  • #20
  • Quote
  • Apr 6, 2007 1:44am Apr 6, 2007 1:44am
Hope im wrong but you are too much confident. You don't have a live account yet so you cannot say that your psichology is ok to lose 50 k in one trade.
I traded 6 month in demo account and make a lots of money, then i've got real account and it's 20% negative and i know why... That's because i am closing the positions too early and don't let the profits run. It's hard to see your position negative.

Well i just said that to you cause you'll see thats big difference between both accounts.

Wish you good luck!
No Brain, no Gain.
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