I'm on my third and it's getting harder and harder to convince the boss to let me have more money. Each account brings new lessons that I believe you can only learn when real money is involved. How many accounts, paper or real, did you blow up before moving on to something else or finding your successful method?
I'm trying to understand your questions. You have been trained by a firm to trade though paper trading. You have consistently lost money in paper trading. If that is true, you are either not following your training or what they are training you to do is in question. What do you think the problem is? Have you paid for this training or are you an employee?
I blew up because of externalization of evil people screwing with me outside of the Market. Taking my vengeance to the Stock Market was insane, don't you think? Being a utter buffoon and thinking "I don't give a damn if I blow up, that's a great trading mindset!if I lost money, it meant nothing. Why are you blowing up, what products are you trading that's causing such deep self-reflection? Are you letting winners tank into losers or picking top-tickers? Your not giving us much to work with, why not explain what's went on and why? What were you trading that drained your capital? The first time it was my stupidity and pure gambling, not the Stock Market or some poor trading habit, I thought all you had to do was buy something moving and "your bound to make money!", Wrong! The second time, once again I was arrogant and refused to take small gains because $500 was a insult after showing a paper-gain of $3,000 to $25,000 (I threw away a many six figure day-trade gains, they were so deep in the green, because of greed!). Destroying your year's gain in a week or day by deciding your going to trade new products, the old ones that are your bread-and-butter, that's too easy and not challenging! That's how I got slammed in 2002, deciding to trade futures because Pink Sheets, Nanocap and Microcaps were chopping and Futures looked like Hollywood! In your case, how many times have you blown a hole in your account? What emotional mindset were you trading in, health problems, family troubles or the need to survive on your Trading income? There are people who blow up once and move on, others like a old friend (he's blown up more than Victor Neiderhoffer) who talked himself in to co-managing a new Hedge Fund last month and is trying to explain why all those Oil stocks he bought as a Value-Player were cut in half! I think the manager is going to fire his ass but he will find another Gig because he's the best talker there is! Think about it, how do you co-manage a Hedge Fund after blowing up everything, filing BK twice and owing your family, friends and ex-wives cash? People never learn, they allow smooth taking guys to drop fancy terms ("Well, when I was trading with XYZ Firm, my Annual Returns exceeded 700 Standard Deviations!") , the worst plagiarizer and stealing poor Victor Neiderhoffer (How I love reading his books, he's a great story teller!) lines! The question is, do you want to Trade and if so, what are you willing to do to make your dream happen? How's your humility ratio and willingness to learn, taking people on as juniors and watching them front-run or head off in other directions "Look, a squirrel!" get's old, how focused are you? What are you willing to offer the Stock Market in return for co-existing with her wild mood swings, she's a Honey-Mamma and Freaky Bitch and you only survive by kissing her ass 24/7 and obeying all her insane whims. If you can humble yourself, just maybe, maybe, you might be able to extract her sweet-stuff without getting stung. Your leaving lots of data out, it's hard to answer a question without further data. I wish you well and hope you are able to get back in, if your hating it, it's time to bail!
Make sure you learn to be consistent on someone else's bankroll or you'll be in for a couple expensive lessons.
I never blew up an account, its not necessary to do so to learn. If you are blowing up accounts then you either know little or nothing about proper position sizing or you are lacking discipline to implement that position sizing system. You could also have no edge. Notice that these issues will not be solved by blowing up more accounts
OP, trading advantages aside, If you risk 1% or less of your account per trade it makes blowing up a lot less likely than if you are risking > 2% per trade. Stop over levering.
I got the boss = WIFE LOL I blew up loads of times, only small mind $100 per time, once a month slap back in only, but it's all worth it cause 10years later I'm back in profit over all and going the right way ( okay not to day, but close LOL ) I bet if you worked it out, I'm likely earning 2p per hour currently LOL I agree, got to be real money, sim is just too easy.
One guy blew up his $100 million account. Apparently first he lost $40 million. With $60 million left, he put it all on an option trade, except for $200,000. http://www.elitetrader.com/et/index...-million-dollar-hedge-fund-in-4-weeks.289163/