Demo Account ad infinitum

Let's get a few things straight!

1 The posts in this blog are my opinions. They have not been approved or reviewed by, and do not in any way represent the views, opinions, or policies of Freedom Rocks.

2 Forex trading is a highly leveraged, dynamic class of investing in which only risk capital should be used. ‘Risk capital” is defined as money which would not represent a significant change in your day-to-day lifestyle if it were lost. Significant profits and losses can result from over- leveraged positions, improper risk management, and lack of understanding about the FreedomRocks software and/or your broker’s trading platform. Always practice with a demo account until you are 100% comfortable with these concepts and functions.

Phew...., now let's move on.... my demo accounts.

I have three now. The first is dubious because I made a terrible mistake. I cannot tell you what that mistake was because I was making notes on the back of an envelope and committing most transactions to memory. Duh!!!

But ultimately, I made a mistake with one of my NEW demo accounts that I had sworn I would NOT make a mistake in.

What I actually did was fail to place an order for the sale of SEVEN lots of EUR/USD and instead placed an order for the sale of ONE lot of EUR/USD!!!!!! This ought to have been severely devastating.

I had now learned from my mistake in my initial portfolio that I ought to have sold up and started from scratch, but I made a deliberate decision to see how things went despite my mistake. In other words, my mistake was now apart of the experiment. The mistake has been made in my $50,000 portfolio (the one I couldn't actually afford), so I waited with bated breath to see how it would have affected me had the money been real!

In the meantime, the portfolio I had set up to replace the original one I had made a terrible error in kept going, but the original mistake seemed terminal, and it did not recover. I have to say right now that the results of my mistake are more likely to be the result of me trying to put it right AFTER the event, which as we all know failed miserably.

Here is the good bit, though. Despite the negative mistake I made... to this date, the $50,000 investment I made is now $70,000. That is an increase of $20,000. And not very bad if you don't mind me saying so.

The account that I set up with exactly the same amount of money I intended to set up my LIVE account with had increased from $2500 to $3000 in one and a half months. $500!!! More than enough to pay for my monthly subscription.

See you next time.

forexvirgin