New.. is it time for real money??

New.. is it time for real money??
Hey guys. Last November (2011) I logged into MB Trading and setup a Demo account. they give you 10k fake money and let you go to work.

So its been almost a year now. Out of the 11 months I've been set up with them, I probably only actively traded for 5-6 months. the last 2-3 months have been a recovery time for me. I set up a bad stop and held a position from 1.2791 eur/usd ALLL the way down to the bottom. (the 1.20 bottom in july..yeah.. that hurt) So, I kept it. no way I could take the loss, and its now back up. Im back in the green. (quite a bit green ) Yes i do have patience, and even though its fake money. I've been making it "real money" by moving my money around a little. using a % of what i earn/lose. (mostly giving it to my wife lol)

I learned a few charts, how bollinger bands work, moving averages, mac d etc etc.. I DONT trade every day. sometime i hold a position for a few days, sometimes a few minutes. i use alot of trailing stops, and tend to stick with a falling position long enough to watch it climb again. and i spent ALOT of time learning how the platform i use works (MBT Desktop Pro) great software btw.

Ok so anyways, Bottom line. I stated in nov 2011, with 10k. its now October 2012 and my account balance is 63k. and i THINK i could have done better if I hadn't of messed up that stop. (that really hurt, i was SOOO close to a margin call. I had to trade my position average down a few pips at the time. which im glad i did. now my profit is even better that its back up.

so what it boils down to is; am I ready for real money? I took the advice, traded for a year or so and learned what I could, even though there is SO much more i need to learn. But should i go ahead and bite the bullet and put the coin in the account? Im thinking of starting with the micro account ($400 investment) and seeing what happens. i know it wont grow very fast, but i figure that is the easiest way to get used to playing with real money while minimizing risk..

what do you guys think? is it time to do it?

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MotorsportsX View Post
So, I kept it. no way I could take the loss, and its now back up.

This statement alone is enough to say a resounding NO. If you can't take a loss, sooner or later it will take you.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

PandaWarrior View Post
This statement alone is enough to say a resounding NO. If you can't take a loss, sooner or later it will take you.

i did the math, it would of had to go all the way to 1.18 for me to get a margin call, and i was able to get that to 1.15 by trading small amounts at the time.

and i have no problem taking a loss.. but a 1,200 dollar loss because it went the wrong way and hit your stop, and a 40thousand dollar loss because i fat fingered my keyboard are two completely different things. PLUS.. and i do want to emphasize this.. i HELD on purpose. i wanted to see if i could get myself out of the hole, which i did do.. no problem. i highly doubt i would of ever held a position like that with real money. but i also probably wouldn't of left open positions while i went on a 2 week vacation either lol. and at the end of the day.. i can close that position right now for 11k profit.. so i think i did ok.