Is it really that easy to make money?

Hi
I have been using various demo accounts for 2 years now and have consistently made money both with forex and binary options will that all change if I start playing with real money?

Comments

  • TobiasRobinsonTobiasRobinson Posts: 45 admin
    If you have traded for 2 years and are profitable, the signs are extremely good that you will be able to replicate that in a real money environment.

    Some demo accounts vary payouts etc, and make winning more likely, but the majority are genuine 'like-for-like' platforms, so winning in demo is certainly a cause for confidence. Start small, manage your bankroll and give it a shot. Beware of taking any bonuses - if you have a winning strategy, ensure any bonus fits into that, and wont encourage you to 'over trade'.

    but 2 years is a great foundation!
  • joe_cottonjoe_cotton Posts: 5
    Thanks for the reply I feel confident enough to start for real now, the only times I have gone bust is when I either get greedy or fail to stick to the plan.

    GREED=FAILURE, better to win a little than lose a lot.
  • joe_cottonjoe_cotton Posts: 5
    P.S. Will the taxman come knocking?
  • The_Geek_MHThe_Geek_MH Posts: 652 mod
    it depends on where you live and how they treat the winnings, the best way is to be straight about it and pay some taxes, keep the man off your back.
  • joe_cottonjoe_cotton Posts: 5

    it depends on where you live and how they treat the winnings, the best way is to be straight about it and pay some taxes, keep the man off your back.

    I live in the UK.
  • joe_cottonjoe_cotton Posts: 5
    Maharg said:
    Should be OK then, thanks for the link.
  • reaperreaper Posts: 60
    2 years seem like a hell of time for demo accounts. why have you decided to wait for so long to open the real one? you could have started with a smaller amount, I think, just to check if you are ready at least emotionally
  • bsbZenbsbZen Posts: 84
    Hello,

    Making money in Binary Option world isnt that easy. I would advise to first like you are already doing practise on a demo account and learn how the markets behave and then do some knowledge in strategies and educations. If you wanna go live then make sure you have a good money management rule for yourself and also emotion control is needed. You need to accept losses as well as you dont always win from the market, if you dont accept losses the market wil slowly eating you up.

    So make sure you have a smart plan before going on a live account.

    Greetings,

    BSB Zen

    blueskybinary.com
  • Blue Sky BinaryBlue Sky Binary Posts: 157 ✭✭
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

  • jamesnjamesn Posts: 27
    There are some major reason why people do not profit from binary trading, you need to take some time to analyse this factors before reinvesting.

    Binary options trade is considered one of the simplest methods of trading. The simplicity is often the reason for many mistakes that can cause serious losses. It is advised for the traders to follow safe trading strategies.

    One of the single biggest reason that binary options traders fail, especially the beginners. The beginners get excited about the trading as it seems very simple to them and this is where they commit mistakes. Their inexperience leads to such errors.

    Kind regards
    Jamesn
  • MalvridMalvrid Posts: 107
    Money doesn't come easy on forex or on binary options, but if you've been able to trade for a long time on a demo account in the profit, then you should try trading with using a real account, start with cent first, then gradually raise your stakes.
  • Some demo accounts shift payouts and so forth, and make winning more probable, yet the larger part are certified 'like-for-like' stages, so winning in demo is positively a reason for certainty. Begin little, deal with your bankroll and give it a shot. Be careful with taking any rewards - on the off chance that you have a triumphant system, guarantee any extra fits into that, and wont urge you to 'over exchange'.
  • MalvridMalvrid Posts: 107
    Trading a demo account for two consecutive years is very good training. If you feel confident enough and if you are making profits, that I think that you should go live. But always keep on mind to apply some funds and risk management strategies on your portfolio and trades. I find it important
  • LoganLogan Posts: 14
    I think money can be earned in just one way, and this way is to become more skillful than others. It needs devotion and patience to gain skills and it needs a lot of time as well. A hurried person can never earn money. It is truth and we have to admit it. Do you admit?
  • YozshujindYozshujind Posts: 45
    Making money through trading is not necessarily easy or hard. What matters is your trading strategy and how well you understand the market. So long as you have the right knowledge about market movements and how to place your trades, making oney is not difficult, but it takes time before you start being profitable, so you need patience
  • BossBoss Posts: 77
    Being patient is most hardest and most useful thing to do on market. In the beginning you will need patience during your learning process. Take your time, learn well and dont just jump on the live account. Then you will need patience to develop your own trading strategy that works
  • LoganLogan Posts: 14
    I really think that in the beginning it is a bit hard to make money on both markets. Certainly there are differences between trading on demo and real account, so new traders should start real account with smallest investment possible until they gain some more experience
  • hackerrhackerr Posts: 6
    To start investing in Forex we need a secure broker. In Spain, a broker must be registered in the CNMV (National Securities Market Commission), in the United States in the Commodity Futures Trading Commission and in the National Futures Association. The list of regulated brokers can be seen on the web of the agencies in each country.
  • BossBoss Posts: 77
    By my experience, there is high chance that your profits will be lower on real account. There is certainly a difference between two, and I find that major difference comes from psychological aspects, as on real account you are more patient as you play with real and your money
  • KeriusKerius Posts: 40
    if you have been successfully trading on the demo account and having profits, then there are high chances that you are getting good at it. But you should understand that it is different on real accounts. This is because you feel pressured and tensed when trading with your hard-earned money, whereas in the demo accounts, unlimited funds are at your disposal.
Sign In or Register to comment.