Demo account with real account experience

[Umrd33]

For many, a demo account is a real opportunity to gain experience.

 

[Kagisopeter]

Anyone can trade with micro accounts right? But my brokers don’t allow it. Is it strange and should I look for another broker?

It’s quite common actually. Trading in small amounts restricts you to trade with a positive risk reward ratio.

 

[kroxobor]

Tried my hands too with RSI and MACD and but failed to find right parameters which produce accurate signals. When analyzed, I made 2 mistakes, firstly going long since the market seemed to be oversold and secondly, perceiving that the market will reverse because I stopped a divergence.

 

[cortney302]

Trendlines and moving averages are good at identifying these too.

Any idea on how to use the moving average as dynamic support & resistance?

 

[Kagisopeter]

@cortney302 Use MA if you wish with the support & resistance, but only with the indicators, because otherwise it isn’t as powerful as the horizontal lines.

 

[shriekpurser]

Tried sketching out the lines manually but wasn’t good at it. Is there any tool that makes this part a bit easy?

Did you have an idea about the tops or bottoms to confirm a trend line?

 

[Nanpeatear]

Tried sketching out the lines manually but wasn’t good at it. Is there any tool that makes this part a bit easy?

Remember that it takes at least 2 tops or bottoms to draw a trend line that’s valid and at least 3 to confirm it. The steeper you draw a trend line; there are more chances of it being less reliable. See if you made this error earlier.

 

[Lokom]

It becomes much easier to work on a real account if you have completed at least 3 months of practice on a demo account.

 

[shriekpurser]

Tried sketching out the lines manually but wasn’t good at it. Is there any tool that makes this part a bit easy?

Did you have an idea about the tops or bottoms to confirm a trend line?

 

[Nanpeatear]

Tried sketching out the lines manually but wasn’t good at it. Is there any tool that makes this part a bit easy?

Remember that it takes at least 2 tops or bottoms to draw a trend line that’s valid and at least 3 to confirm it. The steeper you draw a trend line; there are more chances of it being less reliable. See if you made this error earlier.