Dont trust results... - Pip Cop

ForexRonin · 2010-08-05, 11:52 AM

Good day all,

I am an analyst by trade. Work for one of the worlds largest companies and after many years on the job i have reached a point

where I have a good amount of free time on my hands. Thing is, about a 2 months ago, as a result of extreme office boredom and in the search of something to do I started to fool around with a practice account with Forex.com (CapitalGains Group). Now, I have manged logistics for a while, so I know my way around a spread

sheet. This started out as a game but now Im actually worried!.....

I started a 50K account at 100:1 leverage

, I looked at the charts for a while, read some forex for dummies book

, spent a couple hours building up a VBA script to help me make the calls (in/outs) and the next day started to test. It was all shits and giggles, like a game, till i noticed it was working. Here I am 2 months out, I have a practice account with every broker

I have found all share similiar results. The first account with FX.com that started at 50K is now in the 500K range

. All the other accounts ive opened have done +/- the same. This is really starting to get to me. So now I have to ask:

1) Are thes demo accounts rigged to get people into the market
2) I am not a genious by any strech of the imagination, But could such consistant results be a fluke or just beginners luck?
3)Could somebody please tell me what "normal" results are with thier own practice accounts.
4) I understand this market to be a less than zero sum system (due to broker

fees), so why is this working?

....Not sure if anyone who reads this will understand why Im just a tad disturped by all this. I'm just trying to get my head around this, becouse to be honest with you guys, this just seems just way too easy to be true.

**PipCop** · 2010-08-05, 02:00 PM

Most demo accounts are significantly different from live accounts. The feeds are different, the spreads are different or non-existent, and they often don't record swap

fees. When you go live you will quickly see this and likely lose all your money, or at least not be nearly as profitable.

The easy way to test your theory is to open a tiny account, say $500, and try your hand with that account. If the percentage of returns is the same, then you may be onto something.

I think you'll find that is not the case.

Sonic · 2010-11-05, 09:23 AM

making demo accounts similar to live, brokers just couldn`t attract their clients))

Quote:

Originally Posted by PipCop

Most demo accounts are significantly different from live accounts. The feeds are different, the spreads are different or non-existent, and they often don't record swap

fees. When you go live you will quickly see this and likely lose all your money, or at least not be nearly as profitable.

The easy way to test your theory is to open a tiny account, say $500, and try your hand with that account. If the percentage of returns is the same, then you may be onto something.

I think you'll find that is not the case.

JohnTheTrader · 2010-11-09, 07:17 AM

Quote:

Originally Posted by Sonic

making demo accounts similar to live, brokers just couldn`t attract their clients))

But it's not fair! Especially for newbie like me. They create a situation when you feel like a master of the world.

forexOfTime · 2010-12-20, 07:43 AM

Quote:

Originally Posted by JohnTheTrader

But it's not fair! Especially for newbie like me. They create a situation when you feel like a master of the world.

Yes. It is so and you can do nothing.

Even more if you will be successful on a Live account, there are a lot of tricks some brokers can use to change you direction.