Is it really that easy to make money?

joe_cotton

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?

TobiasRobinson

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_cotton

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_cotton

P.S. Will the taxman come knocking?

The_Geek_MH

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_cotton

The_Geek_MH said:

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.

Maharg

Have a look here http://www.binaryoptions.co.uk/uk-tax-binary-options

joe_cotton

Maharg said:

Have a look here http://www.binaryoptions.co.uk/uk-tax-binary-options

Should be OK then, thanks for the link.

reaper

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

bsbZen

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 Binary

You mean the same vx markets that is mentioned here at Forex Peace Army? http://www.forexpeacearmy.com/community/threads/vxmarkets-optionsmaker-german-binary-bot-worlds-leading-scammers.38695/

jamesn

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

Malvrid

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.

braydendrury

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'.

Malvrid

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

Logan

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?

Yozshujind

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

Boss

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

Logan

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

hackerr

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.

Boss

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

Kerius

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.

Samuhn74

Easy money does not exist anywhere, including in forex. Forex opens up opportunities for you to earn money, but this does not guarantee that you will be profitable. This is the main fallacy of many beginners. And yes, you are a beginner, even though you’ve been winning a demo account for two years now. I will explain. Look, Forex, like any other exchange trading, is tied to the emotions of traders and the ability to control themselves. 2 years on a demo account demonstrate that you have studied the market well, but your psychology is not ready for the fact that you risk losing real money. Therefore, do not expect easy money, but keep in mind that your success speaks of your potential.

Hulapointik

Making money can never be easy and, of course, you should pay efforts to access success. But there is a thing like return-to-efforts, and trading has much higher return to your efforts rate than working on a job. So don't experct free or easy money, but if you have skills and be working hard, you'll make significant summs and will be able to live independent life in your pleasure.

thearticlemaster

Working on Demo accounts for 2 years is good. You can start with actual trading now but be careful . Start with small amount for substantial period of time so that you can go through practical results of it. Patience is necessary in trading business as people generally gets greedy and invest a lot , resulting in loss of money.

DoraWalletInvestor

2 years on a demo account being profitable is amazing. The only thing it doesn't demonstrate well is how you deal with emotions related to trading - because of that, it is a bit harder to trade with real money. Starting with small capital is advisable when you first switch to real money.

parseval

It's not that easy, but if you really want to make money, it is.

wj0419579

Making money is easy. I think the question you were trying to ask was why do some people make millions, while others struggle?

nikkiscy

joe_cotton said:

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?

probably yes, because when you trade with real money is different. Maybe you should try with a small amount of real money to see if you have same results.

mattbel66

Just use google

BOnewby

Hi traders! Just found this forum. Interesting question. I'd like to figure it out also Two years on demo is amazing, but don't underestimate the emotional side when you switch to trading with real money. Even if you start with just $1-trades. But give it a try. Years ago I heard the advice to trade at least 1000 trades on demo before going live - so probably in two years you reached that goal, depending on your strategy and frequency you trade.

My advice would be to try it gradually on real money. There are a lot of broker who allow you to make a small minimum deposit and $1-trades. I started for example three weeks ago on Quotex (personally I made a $20 initial deposit but I think the minimum is $10 - so far no problems), and will try now to see how the strategy I adopted will work out.

Happy trading to all!
BOnewby