IT’S ALIVE!!
You may have read an earlier post where I announced that I opened a live account. True, true. Yesterday afternoon it became active and last night I loaded my live account. I am still amazed at my behavior. I had trepidation about trading.
Demo accounts are fun especially after you have played with them for a few weeks and get comfortable. And the demo accounts usually have opening balance options of $3000 and above so you have a decent amount of money to work with. My demo accounts have been opened at $5000 with some early ones at $10,000.
I started my live account with $500.
The first thing you are hit with is that This is my money, I can lose it all. Next, at least for me and my $500 account, is that you don’t have the bank roll you are used to so you ahve to be careful how many positions you open. If you quickly open and close them fine but if you keep a few open for a while your margin is very quickly depleted.
My first trade last night was a gain. That was my first goal. Next I work to meet my daily goals. Plan your work and work your plan right?
Thanks for your time,
The Forex Noob
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April 16th, 2009 at 5:10 pm
Hello Jeff the Noob,
I wish you lots of success with your new live account. Really !!
Lucky you did not put a much more higher amount to start with.
I like your site a lot, because it’s about Fapturbo and Megadroid, which many people now are using together.
So, little bit later you (we) will here many problems, comments and advices about those bots.
BUT, be carefull …… many of those comments etc. are really …..??
(maybe like mine).
When, for example, you start reading the Fapturbo Forum for many hours /
days / a week, you can really get very confused.
One person is saying this and another person is saying that.
Lucky, they have the meanwhile famous Donna, who exactly knows where she is talking about.
You are right in many things, the tricky brokers, the support etc.
There are so many things to say about “trading” as you know.
But, always keep in mind that a demo-account is just “a game” and NOT realistic at all.
I can tell you that I already 4 times !! brought a Demo-account from 50.000 to over 2 million in one month !! ( manually trading ) and only in Euro / US $.
and only also using the “scalping stategy”).
But a few hundreds of trades every day !! ( I have the time to do that ).
I know, this sounds like the sites from our Fapturbo and Megadroid ….
but this is TRUE, but can never be achieved with a LIVE account (also not by using some EA).
In a Demo-account (mostly rather slow), ALL your buying / selling orders will be filled, no problem at all !!
With a live account it is a completely different story, because THAT is real money, but maybe with some good EA it will maybe (hopefully) be possible to make some nice profits, but slowly, slowly.
So, Jeff, do not get too much exited (but I understand) and keep the patience and “slowly slowly”.
Many things abou the bots system I do not understand.
Why many traders are getting lots of trades from the bots and other traders hardly get a trade ?
Look for example to Donna’s account …….. every day lots of trades ??
Meanwhile many, many traders use the same settings as Donna, but hardly get some trades……. why ??
I start wondering …… we know we cannot trust the (all)? brokers, but maybe possible the EA company’s could be “working together” with some brokers?
Maybe crazy ……. but really crazy?
Think about it ……. with this kind of software almost all is possible !
Thanks for your time and good trading !
Regards, Ben Jaspers
April 16th, 2009 at 5:25 pm
For the people who want to see Donna’s account, here it is, and you can see for yourself the number of trades every day:
http://donnaforex.mt4stats.com
I am not trying to promote Alpari UK or something, I have no interest at all using some kind of trics ( in nothing at all ).
Good trading, Ben Jaspers
April 17th, 2009 at 10:58 am
Ben,
I appreciate Donna’s site address. I’ll take a look and ad it to this sites links.
May 10th, 2009 at 6:26 pm
Hi,
Regarding my results page for FAPTurbo- i’m really not sure it is a case of brokers working with EA creators, etc. I have spotted quite some variance between my own accounts, and accounts of family members i am running FAPTurbo on.
We have to remember (or note if we did not know this) that FAPTurbo has a ’scatter’ feature which means that not all trades are placed at identical times. With Alpari in particular it also appears to be the case that smaller trades get preferential handling over the bigger trades, in particular anyone trading anything about 2 full lots is having problems. The slightest delay anywhere in the trade process can cause problems also, since the high number of fapturbo users is blocking Alpari UK servers right now (Alpari have admitted this) meaning some trades cannot be filled on time and are subject to high levels of slippage.
Not sure if this helps any, but it may go a little way to explaining why accounts vary the way they do. If you want to subscribe to my newsletter, it has full updates each week with all my current settings- i have recently changed these around a lot- just go to my website to get a copy of this for free- donnaforex.com
All the best,
~donnaforex