daytraderwavechaser
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I plan to start trading real money instead of a demo account and have accepted the fact that I will lose it all. What is a good amount to deposit considering the fact that I will definitely lose it all?
how much money should I lose?
- Thread starter daytraderwavechaser
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Traders lose money in their early trading because they don't go in using a consistently profitable system. Its like getting into a new car and driving away at top speed before you've checked how to use the brakes.
Demo simple strategies until you make money consistently. Its much cheaper that way - better to spend 3 or 6 or 12 months on demo and still have all your money in your account, than to trade for real and lose all that money in 1 week.
Demo simple strategies until you make money consistently. Its much cheaper that way - better to spend 3 or 6 or 12 months on demo and still have all your money in your account, than to trade for real and lose all that money in 1 week.
its a good decision or not its difficult to say but one thing i can guarantee even though you do so many losses from real account , this will help you a lot to acquire live knowledge and experience that we cant get from demo, because there is no emotions when trading. just try to accept losses as a general issue. it will support you more.
timsk
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If this is a serious question, then I have some serious advice to offer you: don't become a trader - it's not for you. Do something else. Anything, anything at all, just don't waste more time or any money on trading.
Pat494
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WELL how are you doing ?
With all this good advice it's only up to you now.............
investment completely not depends on budget and risk management, its all about 25-30%, which amount of investment is more appropriate for you it depends on your knowledge and your money management ability. if you know how to manage money then with minor balance there is a chance to bring good amount of profit.
its a perfect suggestion , low risk ratio but effective , thanks sir for your reply with real logic.
P
postman
Think of it as an experience.
If you think you will lose it in a day invest as much as you would spend on a good night out.
If you think you will lose it in a week invest as much as you would spend on a weeks holiday.
If you think you will lose it in one year invest as much as you would spend on a gap year round the world tour.
If you think you would lose it all in 3 years invest as much as you would on a degree course.
Now the question becomes not 'how much should you lose' but 'how much you are willing to pay for your experience'.
Nice suggestion, always take risks to that very extent which you can afford to lose.
NVP
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why not pay it all to me now and save yourself a few months of stress ?
seriously though.....demo for 6 months minimum...then start on micro accounts ....then move up the ladder increasing stakes slowly ......you have all the time in the world to learn to trade ...but not all the money in the world
Exactly. Determine what portion/percentage of your income can you afford to risk. If you're losing more, then there is certainly something wrong.
I would say pass on the demo. Put $50 in a account; trade euro only with real money. I think that there are some important things you pickup when money is involved; particularly small amounts of money. You tend to focus on making money - finding a reasonable trade and getting in some real experience with compromise. I would say that you'll probably have to be reasonably sober in regards to your expectations. A small account should help with that. With demo I think you tend to spend too much time drawing pictures of some sort on your screen. When to stop; when you can't rationalize doing it anymore.
C
cantagril
Better questions might get better answers
Saying that you should not lose money is a worthless statement; saying it capital letters does not make any more worth considering. Saying that you want to trade short term price fluctuations without losing money is like saying that you want to be a professional boxer; you just don't want to get hit. Harmonic patterns have been around since long before OTC Forex markets were made available to the general public. If harmonic pattern trading was of any genuine use, everybody would be wealthy. Everybody( commercial and retail) would be looking for bats and crabs, etc. Email any trading professional or institution and ask them what they think about harmonic patterns. The larger Futures Brokerages (amp futures for instance) have auto traded 3rd party systems for years; ask one of their consultants about the long or intermediate term success with harmonic pattern trading. Trading harmonic patterns is like most anything else - it works when it works and it doesn't when it doesn't. Think about it; if harmonics were the path to successful trading who would take the other side of the trade when one of these patterns setup. There algorithms in the market that fade everything : new highs, new lows, breakouts, and yes they would also fade harmonic patterns. The idea of losing money on a trade is not something that anyone wants to do; I doubt that you'll ever be successful until you learn to function in a working environment where in failure is a very real possibility.
its true , if you loss consistently of course there is something wrong , when making a loss we the traders should learn from the mistake that was happened , and should determined not to do the same mistake again.
