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Beginners Luck?

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Lewis John
24
Lewis John 2016.06.21 09:20 

hey everyone!

So as cliche as it sounds, im new to trading and was looking for a bit of advice maybe or guidance. I have been using a demo account for a couple months now and been using different methods/strategies to try and hone in on what works best for me. I tried a real account a couple months back and was still a bit niave and lost my account. It was around £400. Not much capital to start with for most but I thought it was...anyway, it didnt work. Not the past couple of days ive stuck to a strategy on a demo account which I believe works best and with a starting 'investment' of $3000 im already up to $11,000 in 4 days of trading! Ive won trades and cut my losses when needed, am I just being lucky? Do you think I will trade differently with real money? I'd like to think I would trade the same. By the time I save up enough money to start for real again with a slightly larger capital, it will be months. Would anyone recommened using a bank loan to get started? I dont want to ask family or friends as this could get complicated possibly?

Any hints/tips or suggestions would be greatly appreciated! :)

Lewis

Marco vd Heijden
Moderator
4708
Marco vd Heijden 2016.06.21 09:44  

Only one way to find out ?

I am not recommending you use a bank loan, in fact i advise you strongly not no.

However i am sure there are people who made it that way.

Of course there is still a lot of other work that needs to be done for example selecting your future broker.

Lewis John
24
Lewis John 2016.06.21 13:20  
Marco vd Heijden:

Only one way to find out ?

I am not recommending you use a bank loan, in fact i advise you strongly not no.

However i am sure there are people who made it that way.

Of course there is still a lot of other work that needs to be done for example selecting your future broker.

Thanks Marco!

I have already chosen a broker but I will listen to your advice and just save my money for the capital and keep practicing and learning with my demo account. Fingers crossed I become a little success and be able to stop working as a Chef! :)

Richards Laudurgs
1325
Richards Laudurgs 2016.06.21 20:02  
Lewis John:

hey everyone!

So as cliche as it sounds, im new to trading and was looking for a bit of advice maybe or guidance. I have been using a demo account for a couple months now and been using different methods/strategies to try and hone in on what works best for me. I tried a real account a couple months back and was still a bit niave and lost my account. It was around £400. Not much capital to start with for most but I thought it was...anyway, it didnt work. Not the past couple of days ive stuck to a strategy on a demo account which I believe works best and with a starting 'investment' of $3000 im already up to $11,000 in 4 days of trading! Ive won trades and cut my losses when needed, am I just being lucky? Do you think I will trade differently with real money? I'd like to think I would trade the same. By the time I save up enough money to start for real again with a slightly larger capital, it will be months. Would anyone recommened using a bank loan to get started? I dont want to ask family or friends as this could get complicated possibly?

Any hints/tips or suggestions would be greatly appreciated! :)

Lewis

Hello Lewis. 

If you are able to turn 3000$ into 11,000$ in 4 days, I bet that you would not have problems turning 100$ into something like 1500$ in a month's time, unless you are being lucky, just like you said, and 1500$ is enough to operate with. Do not take a bank, since if something happens and you loose your money, you could be in serious debt. 

There's a saying out there that 90% of traders will loose 90% of their capital in 3 months time, so I think that 4 days is not a sufficient period to judge your strategy, unless you can backtest it with bulletproof accuracy.

Kok Siah Seng
440
Kok Siah Seng 2016.06.23 10:55  
Richards Laudurgs:

Hello Lewis. 

If you are able to turn 3000$ into 11,000$ in 4 days, I bet that you would not have problems turning 100$ into something like 1500$ in a month's time, unless you are being lucky, just like you said, and 1500$ is enough to operate with. Do not take a bank, since if something happens and you loose your money, you could be in serious debt. 

There's a saying out there that 90% of traders will loose 90% of their capital in 3 months time, so I think that 4 days is not a sufficient period to judge your strategy, unless you can backtest it with bulletproof accuracy.

Lewis John:

hey everyone!

So as cliche as it sounds, im new to trading and was looking for a bit of advice maybe or guidance. I have been using a demo account for a couple months now and been using different methods/strategies to try and hone in on what works best for me. I tried a real account a couple months back and was still a bit niave and lost my account. It was around £400. Not much capital to start with for most but I thought it was...anyway, it didnt work. Not the past couple of days ive stuck to a strategy on a demo account which I believe works best and with a starting 'investment' of $3000 im already up to $11,000 in 4 days of trading! Ive won trades and cut my losses when needed, am I just being lucky? Do you think I will trade differently with real money? I'd like to think I would trade the same. By the time I save up enough money to start for real again with a slightly larger capital, it will be months. Would anyone recommened using a bank loan to get started? I dont want to ask family or friends as this could get complicated possibly?

Any hints/tips or suggestions would be greatly appreciated! :)

Lewis

Never take a bank loan.. the ,monthly interest will be torturing you,.  If you are trading real account the atmosphere and tense is different..  Try using small account for real money.. its where u shld start off with.. 

Lewis John
24
Lewis John 2016.06.23 20:20  
Richards Laudurgs:

Hello Lewis. 

If you are able to turn 3000$ into 11,000$ in 4 days, I bet that you would not have problems turning 100$ into something like 1500$ in a month's time, unless you are being lucky, just like you said, and 1500$ is enough to operate with. Do not take a bank, since if something happens and you loose your money, you could be in serious debt. 

There's a saying out there that 90% of traders will loose 90% of their capital in 3 months time, so I think that 4 days is not a sufficient period to judge your strategy, unless you can backtest it with bulletproof accuracy.

Hi Richards!

Thanks for your time and response! I have been trying different methods for the last 6 or 7 months after I did a 20 hour diploma online which actually got me interested in the first place. I wouldnt say my strategy is bulletproof as such but I seem to have found a set way I enjoy to trade, which I think is the most important. I understand about the banks etc but I really wanted to get out of my job in a hot kitchen asap so the main reason for the bank loan was to be able to make 'decent' money to replace my wage as a chef. I understand that with the same stratergy I could do it with $100 to $1500 but I dont think I could afford to do it that way while I have a job :(

Again, thanks for your time and input!

Regards

Alejandro Cuartas
4734
Alejandro Cuartas 2016.06.24 04:31  
Hello, practice first in a 100USD real account. you will notice the diference between real and demo, it changes a lot.
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