How many of us will succeed in Forex?
Submitted by Edward Revy on March 22, 2008 - 19:40.
Many of us have probably heard the statement that 95% of beginners lose in Forex and remaining 5% become successful.
A common trading journey in Forex starts with demo account and develops into live account with further positive or negative outcome.
We have made own simple research that was aimed to find out how long on average traders plan to demo trade Forex before going live.
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Excellent space for new trader comments Ed.
It is definitely different "passion" in a demo vs live account.
I just opened a live account and after struggling between loosing and winning (a little luck, a little bad luck)...i entered a streak of loosing trades. I was using range trading but my entry order was being just triggered by a high spike and then went back for a losing trade...The micro account does not allow me to put a stop loss in an entry order, so sometimes while leaving it open i suffered a big loss overnight,
I decided to stop and take a step back and go back to strategy planning.
I was only looking to 1 min, 5 min and 30 min charts. Now I know to look the larger picture to have a better trading (daily chart).
Now it is getting better, little by little. With patience. Trading only 3 to 5 lots per trade.
HAppy trading to all ! Luis
thnx
:D nice
Just a comment: I use a 6 by 6 by 6 program. I have a s/l at 6; profit at 6 and a hold no longer that 6 minutes. I started using this with a very small pip value and as time went by I increased my pip value.
I use a 5m chart with no indicators.....only look for a pivot candle, meaning the highest or lowest of a three candle grouping.
Best trading to everyone.
Thaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaanks
VERY GOOD
Like you said there are exceptions. After a month and a half of demo trading and continuous studying, I finally opened a real account. It was very successful. I opened an account with $1,500 and averaged about a $1000 per week.
Hi, I have been trading for a little while now and have been told by others I use the waterfall strategy - but I can't find information on what that strategy is to compare to how I trade
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