A New Era in Papertrading

Discussion in 'Trading' started by Sonofagun, Oct 19, 2003.

  1. xorrex

    xorrex

    For those who don't want to make papertrading more emotional can opt to make real trading less emotional, simply by resigning themselves to never taking their profits out of the market. If you can convince yourself of that, then trading real money becomes a bit closer to trading fake money. I leave it all in anyway, which is why I drive an old Honda. :p
     
    #41     Oct 21, 2003
  2. dbphoenix

    dbphoenix

    I like your idea about the icepick. Or you could stick a needle in your eye. Or set yourself on fire. :p
     
    #42     Oct 21, 2003
  3. I agree with the substance of a prior post which stated that paper trading is a valid means of testing a system or method, however, it does not test the trader. As I have painfully learned, only "live ammo" does that.
     
    #43     Oct 21, 2003
  4. xorrex

    xorrex

    You must have tried fire...hence 'phoenix' :cool:
     
    #44     Oct 21, 2003
  5. I think everybodys' right...hehe

    Paper trading has it's pros and cons.

    Probably not as useful to stock traders,(uptick rule, getting partial fills, etc...)as S&P or ES traders.

    It's like hitting golf balls on the range. A good place to practice
    and try new ideas (without the pressure) before you get on the course.

    But, on the course, teeing off the number one tee, you only get one swing, and you know it...lol :D
     
    #45     Oct 21, 2003
  6. saying you have no, zero, none, emotional tension while trading real money....specially when size is on the line is absolute nonsense.......you are saying someone can be a robot, please, I have seen different aspects of life besides trading, pilots, surgeons, musicians, emotion always enters the fray. Sure some control it more than others, thats another issue.
     
    #46     Oct 21, 2003

  7. Right, emotion is definitely a factor. I'll never forget my first
    real trade. My brow was sweating, my hands were shaking and I wrote down what I needed to tell my broker so I'd be sure and say the right thing...lol

    Fortunately, it gets easier the more you do it. Sort of like doing that first flip off the diving board. After the first few times, heck, that wasn't so bad.
     
    #47     Oct 21, 2003
  8. xorrex

    xorrex

    I have 'scripts' to read to my broker, as I don't want to eat a big loss because something slipped my mind. I also have 'boxes' around my trades, so I always know where or when I am going exit by default.
     
    #48     Oct 21, 2003
  9. Let me change this a little bit. It's much easier:)


    Here's how to get the emotional and psychological side of a simulator.

    Trade knowing that you will show yourSELF the P & L on the simulator at the end of each day to show YOURSELF your results to let YOURSELF know how close/far you are from doing this for a living.


    That's what I do and o boy do I feel the emotions.
     
    #49     Oct 21, 2003
  10. I don't use limit orders on a simulator as it would be foolish since no simulator can correctly place you in the GLOBEX offer/bid lines and keep track of your CHANGING spot. I only use MARKET.
     
    #50     Oct 21, 2003