About a month ago I decided to go into forex trading after making some research on it, I was able to pick a suitable broker and I decided to start with a demo account that is after I have done vigorous study and research on charts, the Japanese candle stick to be precise I was able to understand the trends both bullish and bearish and when to enter a trade.
After reading different PDFs on forex I decided to start watching YouTube videos on price actions and indicators and suitable timeframe for a day trader so I was practicing with M1 time frame but later found out that H4 timeframe is preferable for me. When I started trading with the demo account I saw that I was making profit I'd say it was quite easy so I decided to ask questions why is easy to make profit on my demo account and if it will be the same on a real account using theame strategy, but the answers I got is making my feet to be cold. The reason I open this thread is to hear from other forex traders and professionals. how were you able to cope transitioning from a demo account to a real account aside emotions and greed what else should a novice be mindful of while trading and also will you say that you are a profitable forex trader?
Below is a screenshot of the trades I made in my demo account.

Really love this question, am in same boat with you bro and will love to hear from the masters.

Supercaddy:
Really love this question, am in same boat with you bro and will love to hear from the masters.

Yea and I even need to know much so I won't end up blowing a real account

Bro... you're good
Wow
See ur profits
Which strategy do you use?

Newsin:
About a month ago I decided to go into forex trading after making some research on it, I was able to pick a suitable broker and I decided to start with a demo account that is after I have done vigorous study and research on charts, the Japanese candle stick to be precise I was able to understand the trends both bullish and bearish and when to enter a trade.
After reading different PDFs on forex I decided to start watching YouTube videos on price actions and indicators and suitable timeframe for a day trader so I was practicing with M1 time frame but later found out that H4 timeframe is preferable for me. When I started trading with the demo account I saw that I was making profit I'd say it was quite easy so I decided to ask questions why is easy to make profit on my demo account and if it will be the same on a real account using theame strategy, but the answers I got is making my feet to be cold. The reason I open this thread is to hear from other forex traders and professionals.l, how were you able to cope transitioning from a demo account to a real account aside emotions and greed what else should a novice be mindful of while trading and also will you say that you are a profitable forex trader?
Below is a screenshot of the trades I made in my demo account.

are you saying that one can be making money using demo account?

jom28gy:
are you saying that one can be making money using demo account?

No one can't make money with demo account

Eryyy92:
Bro... you're good
Wow
See ur profits
Which strategy do you use?

Scalping with H4 timeframe

Newsin:

Scalping with H4 timeframe

which time frame?
Daily or weekly?
I haven't seen any scalper who scalps more pips than you do
Keep it up

Eryyy92:
which time frame?
Daily or weekly?
I haven't seen any scalper who scalps more pips than you do
Keep it up

Thanks
I use the 4 hours (H4) timeframe

Newsin:

No one can't make money with demo account

but you just said it here

Well your right.... using or trading demo doesn't guarantee profitability.

Now look at your demo, I can see that you started with a million USD/NGN.

The truth is that in your real account, are you going to start with that amount.... probably NO.

So you see that it's just a fantasy.

Secondly look at your lot size, I believe if your using your hard earned money you wouldn't be using such lot size.

In summary, what I am trying to say is that, many people just use demo because other people say so.

Demo is meant to resemble and behave like your real account - In terms of trading capital and strategy.

You are meant to start trading demo with the amount you know you can start with in your real account and manage that money and learn from your mistake...not use a million dollar demo account and feel like the next Warren Buffett.

This is my humble advice, hope you find it helpful.

Cc.
Newsin
Supercaddy

Redmi007:
Well your right.... using or trading demo doesn't guarantee profitability.

Now look at your demo, I can see that you started with a million USD/NGN.

The truth is that in your real account, are you going to start with that amount.... probably NO.

So you see that it's just a fantasy.

Secondly look at your lot size, I believe if your using your hard earned money you wouldn't be using such lot size.

In summary, what I am trying to say is that, many people just use demo because other people say so.

Demo is meant to resemble and behave like your real account - In terms of trading capital and strategy.

You are meant to start trading demo with the amount you know you can start with in your real account and manage that money and learn from your mistake...not use a million dollar demo account and feel like the next Warren Buffett.

This is my humble advice, hope you find it helpful.

Cc.
Newsin
Supercaddy

I planned to start with what I can afford and I didn't state it above that it is a naira cent account with minimum deposit of 2000 naira which is equivalent to 200000 NGC (Nigerian cent). I'm planning to start with 10000 naira which when converted to NGC will be a million NGC as to what I'm trading with in the demo account