FREE FOREX STRATEGIES
Forex brokers comparison

How many of us will succeed in Forex?

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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This is a great site thank you Edward. I have been looking for something to help me find the right mind set to trade and the feedback is very helpful. I started trading about 2 years ago and only traded with a demo account for a week. I dont like wasting time with fake money so I went for it not knowing the risks. I won right away and was very excited so I increased my margins and then lost all that I had won and then some. Greed and frustration both lead to my downfall. Now I trade with with 10,000 lot sizes, so about 1 USD per pip, this allows me to learn without losing my entire investment. I think I will go back to my demo account for awhile until I get a successful strategy down. Good luck to everyone.

Tony

good , i have been demo and live mix for 6 months, find that simple system is enough with the plan strictly followed, and then begin to testing this idea, so at least need one year....

I traded 10.000 to 80.000 in 4 hours on a demo account a few days ago.

Quite exhilarating.

Now I´m worried I´ve used up all my statistical probability to repeat that performance live.

You know, lightning never strikes twice, lol.

i have been researching for about six months and have 2 buddies that are live traders. i remeber when i first found out about them getting into forex i saw the software it was a black screen with lines and bar charts. ha ha. i would raz him and say yeah right this seems to easy, he was going to a weekly meeting with people and doing demo account at time with 50,000 dollars. i told him i wouldn't get serious about this until he showed me some progress. some days he would make up to 10k and on other days he would lose 1k. finally he decided to go live with 5k to invest and he is now up to 30k. he has been my mentor through this and i have used him as a good source. i now have an account with forex.com. i used this awesome website i recommend for newbies www.babypips.com it really gives you a heads up on the market and teaches you all you need to know under the format of the current education system pre-school, k-12th grade, and then college. i waited about six months to just do research and then another 6 months with this website and demo, and then finally went to do a live test account with $250. im down to about $100 now after about a month but it has been a great learning experience for me doing this ad has allowed me to use a few strategies to find my niche. i know it sounds weird to say this with loosing money but it just seems more real when you use real money. also emotions are huge in this system using real money helps you dicipline yourself.

I will say that training is essential but ,with real money everything change real fast ,the emotion factor is
real important ,is easy to say( managed your emotions)but in real life we are humans, we supposed to have emotions,but we MUST learn to trade without emotions,how?
Get the basic training in babypips.com ex.or other..and then go DEMO until you make profits in the DEMO, 7 or 6 profitable trades out of 10 every day ,then you go real money with the SMALL amount possible. And then you can start training your emotions (fear,greed,panic,arrogance.ect). I assure you (you will know you better than ever before when you trade with real money).

Regards :Hector.

Hi, Edward

Good Site and a very good research work, I am enjoying every bit of the comments and suggestions posted on this site. I must say you have the desire for people to succeed. But, I have a question, I have read comments about traders who claim they have used the strategies of Mr.Paul Udochi and it worked wonders for them. The question is how reliable and efficient this strategy, I need your opinion on this and of those who have used this strategy.

I will also like to know how long you have been trading and how succeesful you are as a trader.

Looking forward to hear from you

Tom

Thank you, Tom

Your comment made me smile.
How can I possibly know anything about this system and its author? No offense, but do you sincerely expect me to buy a system like this? Or the hundreds of other systems?

The author has won a Surefire Trading Challenge which was created by Mark McRae, provider of email newsletters about Forex, and he organized a competition to find out who could make the greatest profits over the period of just one month. Only 569 traders took part. Is it a large number after all?

I'm very sorry, there is nothing more I can add.

About myself, I'm a trader with a reasonable 7 years of successful live trading experience. Plus several years of studying and trading before that.

Kind regards,
Edward

hi, I azma from Inida,
i would like to know that do the brokers have any way to control the their trading system in their favour, because, some times I doubt, because, some time is reverse very soon and start againg so I have doubt about it.