First off, i am a total newcomer to trading. I opened an account with an online broker, am using their App with a 10k demo account.
I am under no illusions when it comes to trading. I am not interested in doing real trades until i spent at least 2 years in simulation. I don't believe in get-rich quick schemes although i understand it's possible, at high risk only though. I also understand that things would feel entirely different if that were real money at stake.
I started doing some basic trades to see how things go. I quickly developed my trading style (i don't dare call it a strategy) – it does involve waiting out positions to recover sometimes. 1-2 days sometimes. I use TP but never used SL.
The basic approach is very amateur-like: i look at a chart of the past hours or days, i imagine where it will go without any knowledge of any economical background whatsoever (sorry), and then i just buy or sell, based on what i feel will happen. I usually never invest more than a 100 EUR in one sale/purchase, and i often wait for longer durations before even opening the App again. I just let it sit. I often have margins that leave me almost no funds to trade with, because i tend to open multiple positions of multiple instruments at once.
Overall, in less than two weeks i was able to almost double my account value. However, i am surprised to find that i have very few losses.
What i am trying to understand is, why it is that my way of holding on to positions for longer durations (i never got beyond the margin) has turned out to be so beneficial? Is that in any way reliable? Because almost every trade i made turned out positive, even though most trades first went the other direction and i just waited it out (which was possible due to margins).
Or is it because i am using a demo account, and things are tweaked to look good and inviting, but look totally different with a real account? (i don't think i'm allowed to post the name of the App/platform here, so i refrain from that, but i guess most of you will know it).
If someone could enlighten me as to why this approach is good or why it is a totally silly idea which will lead me down into deep loss the moment i start trading with real funds, i would be glad to hear you out.
(Please note: i have opened another demo account which i use via my smartphone, here i use the same "strategy" and was able to make EUR 6.000 from the 10k demo account in two weeks).
I am posting my results page from the app (made screenshots and merged them together):