Demo Accounts

 After I began trading again I thought it would be a good idea to open a demo account to try different strategies and get out my constant urge to open position after position (the risk management downfall that lead to my post US election debacle).

 I opened a demo account and it was filled with (fake of course) 50,000 USD. Of course this is much bigger than a regular account and can make your brain get lost in what you are doing partly because it is a rare amount of money for a day trader to have in an account and also because you know it is fake your mind does not taking the trading seriously and that definitely affects how, when and why you open positions. You can go 10,000 units long at 5 USD a piece at the month high because "you think it might keep going up" and it won't matter because it's not real. Whereas in a real account a smart trader does try to be able to explain every position they open - myself included; although even being able to explain the logic behind a position doesn't mean it will be profitable unfortunately.

 This demo account experienced good fortune in the very first day, having it's balance boosted by a couple of smart trades to over 80,000 USD. The following days saw more erratic trading on the account and a loss which reset my to approx. 50,000 USD again! I collected my self and was able to, within three weeks increase the account's balance to over 172,000 USD which was the highest value I have ever had in a demo account. I was pretty chuffed with this as the US election approached. Alas I had done the same as I had done on my real account and managed my risk AWFULLY. The election saw me take a hit of 115,000 USD and reset to around my starting balance...

 Again as I did with my real account, I traded carefully and between ~20/11/12 and 07/12/12 I had increased the balance from 55,000 USD up to 118,000 USD. Then on Friday, doing exactly what I had created this account for, it took another hit due to my over-opening of positions, and the balance hit an all time low of 40,000.


I am already increasing the accounts balance again having gone short at the currencies six-week high. I will periodically update on this account in the future but as it is fake and not of utmost importance they won't be too often.

 Thanks for reading!