How do people fail at this?

A demo account is only for practice not for real trading. I opened and start trading with a demo account a few years back and start making a profit with that account but when I start real trading with real money I have blown my first account very fast but after this survive in forex after a lot of hard work.
 
Failing is not important, not learning through failure is the biggest mistake, that a trader makes. You must learn from your mistakes and you shouldn't repeat it and learn from it.
 
Things are different when you trade with your own money. Emotions are difficult to control. Plus in a demo account we usually trade with more money than we are actually willing to deposit in a live account. We also tend to trade in bigger lot sizes to gain more profit because going big feels good. However, this is not the case in a real account because there a re a lot of constraints to be kept in mind. If you think you can control your emotions and actually practicing in a demo account like you would do in real, then you might think of going live. My advice would be to try with a small amount first.
 
Obviously, but many traders, when does the Demo Trading Successfully, they thinks that they would be able to survive in the Forex Market as well. But Demo and Real Market have lots of differences, which the traders should learn.
 
ark93 said:
Genuine question, not trying to be condescending. I really want to know what the catch is or where people are getting hung up. Background: I started practicing forex trading as a hobby a couple weeks ago using TDAmeritrade's thinkorswim and then with a practice account on Oanda (TD won't let me trade forex with my amount of money). I haven't started trading real money yet. I wanted to make sure I knew what I'm getting into.

Anyway, since I started trading, I haven't had a negative day. In fact, most days I'm positive 5-10%, and that's with my extremely limited knowledge of trading. I just did some research on the Internet and then jumped in. I have zero method whatsoever, I just keep in mind some basic tips I gleaned online combined with patience and common sense.

Yet, whenever I look online I see tons of negative people saying this and that, that Forex trading is a gamble, scam, etc., that you might as well go to the casino, that 90% of people lose money according to official sources, that the brokers have to profit somehow, etc. I was reading through the terms when I signed up for Oanda and even they said that 2/3s or their users lose money. How can this be? Aren't these people taking this seriously? I mean it's their money and everything. I understand some people are brash or just trying to get rich quick, but certainly not the majority of them?

Could it just be that I have what they call beginner's luck? Is it somehow different with real money, will new forces working against me appear as soon as I start trading with my own money?

I want to know what the catch is. Again, not trying to show off my skillz or anything, I'm just skeptical. I really just jumped into this and the returns seem too good for someone who just started with no knowledge whatsoever. Thanks in advance.
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Hi Ark93,

If perchance you've revisited this thread, would you consider updating us on what you have learned since your last post here... your original question certainly stimulated a lot of comments and suggestions!
 
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