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Beware Demo


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  • 4 weeks later...
Guest Captain

Some good points there, but to be honest, you could go the other way and become too cautious.  I find that I do best when I have a little bit of apathy toward losing a few thousand pounds.

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.  True enough we must be prepared to lose, and by how much you are comfortable with will depend on your account size. The stats are unequivocal though, most new traders will blow their small accounts pretty quickly, usually coming hot off a prolonged spell on demo where it is somewhat easier to re-fund the account. Demo isn't real trading and the platform works different, slippage, changing spreads, entry/exit prices. Something that works on demo will not necessarily work on a live platform.

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Guest Captain

You can eventually become numb to emotions.  I think you will perform best when you treat your account like a hybrid, not quite a demo account, but not quite your "rent money".

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The structure under observation is orange wave 1, which is positioned within the larger context of navy blue wave 3.   The primary function of this analysis is to track the ongoing trend in the NZDUSD market, which is currently in an impulsive phase. This phase is characterized by a strong directional movement that is part of a broader wave pattern. The impulsive mode indicates that the market is moving forcefully in one direction, specifically within the orange wave 1 structure of navy blue wave 3.   The direction for the next lower degrees is identified as orange wave 2. This suggests that following the completion of the current impulsive phase in orange wave 1, the market is expected to transition into a corrective phase, known as orange wave 2. This phase will likely involve a pullback or consolidation after the current upward movement.   Detailed analysis reveals that navy blue wave 2 appears to be completed. 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    • ASX: ASX LIMITED - ASX Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)   Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with ASX LIMITED - ASX. We observe that ASX LIMITED is approaching the end of wave 2-grey, but needs more evidence on price action for confirmation, also allowing wave 3-grey to be opened to push higher thereafter.   ASX: ASX LIMITED - ASX  Elliott Wave Technical Analysis   ASX: ASX LIMITED - ASX  1D Chart (Semilog Scale) Analysis Function: Major (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave (c)-orange of Wave ((y))-navy of Wave 2-grey Details: The short-term outlook indicates that the price has continued to decline longer than expected, with wave 2-grey retracing quite deeply. Essentially, it may continue this action. However, a drop below 53.98 will call for a reassessment of the situation. Invalidation point: 53.98   ASX: ASX LIMITED - ASX  Elliott Wave Technical Analysis TradingLounge (4- Hour Chart) ASX: ASX LIMITED - ASX  Elliott Wave Technical Analysis ASX: ASX LIMITED - ASX  4-Hour Chart Analysis Function: Major (Minor degree, grey) Mode: Corrective Structure: Double Zigzag Position: Wave (c)-orange of Wave ((y))-navy of Wave 2-grey Details: The short-term outlook shows that wave (c)-orange is about to complete, and at the same time it will also complete wave 2-grey, allowing wave 3-grey to open to push higher. The important thing is that the price needs to rise above 59.39, which is also the first step to renew the long-term bullish view with wave 3-grey. Invalidation point: 64.32   Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: ASX LIMITED - ASX aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!  
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