New Demo Acct In Profit Within Half An Hour of Trading

[swagman]

Hey Guys,

I had to wait just over 48 hours for the first trades to be automatically placed on my Demo Account using FXDD broker and running 3 Scalper deals and one LT Strategy deal. All 3 Scalper deals were placed within 5 minutes of each other when the action commenced. My account was in profit within half an hour of first trade being placed after the broker had received his split. :)

Question. In the Trade tab the Type begins with Sell. What did I sell? I had not purchased anything yet? I thought I would start with Buy as we buy into a position? Or so I thought. Can anyone enlighten me here?

Also, I did not use Scalper_MM so have it set to false. Lot size 0.5 and LRR = 5 Running on Fapturbo20.

It has taken so much concentration and emotional/mental energy to get it working to this stage. The 48 hour wait was challenging to say the least. I am now reluctant and hesitant to remove version 20 completely right away. Think I will watch it trade for 2-3 days at least and take some time to find out how to do the removal of the older version completely and properly. It looks like we are going to have to do this every month anyway to keep up with the latest and greatest cutting edge version to mazimize the potential of the amazing robot that our three tech geeks have put together for us.

Maybe a thread in this forum with step-by-step "How to remove old version and download and re-install new version" will hlep a lot of people here. :)

[dcrowley06]

hehe. yeah, it is confusing about the buy/sell scenario.

I really recommend going over the www.babypips.com (http://www.babypips.com) and going to the school tab. There are some awesome lessons over there and they try not to be too drab.

But basically, when you place a sell, you are hoping that the base currency depreciates and that is how you make your money (laymans terms... you want the chart to start moving down).

When you place a buy you are hoping that the base currency appreciates and that is how you would make your money. (again laymans terms... you want the chart to start moving up).

It takes a little bit to get used to, but with some moderate experience watching the scalping trades occur, you will get the hang of it.

[Sooner]

Question. In the Trade tab the Type begins with Sell. What did I sell? I had not purchased anything yet? I thought I would start with Buy as we buy into a position? Or so I thought. Can anyone enlighten me here?



Welcome to trading terms 101, I will be your instructor for today.

What you refer to is called short selling. When you are "short" what you are doing is borrowing lots from someone else and selling them, your goal here is to sell the borrowed lots at a high price, and buy them at a low price so you can replace the ones you borrowed thereby making a profit. If the prices goes up, you end up paying more to replace the lots you borrowed and this results in a loss.

The opposite would be a long position or buying low and selling high. Buying and selling are probably the wrong terms to use as they can be confusing. Adding long and short to your vocabulary will make it easier to explain and eventually it will all make more sense.