Crazy paper trading day

Discussion in 'Trading' started by farmerjohn1324, Jan 6, 2023.

  1. spy

    spy

    No, no... you're just funny OT. You know... how you tell the story.

     
    #301     Jan 17, 2023
    semperfrosty, hilmy83 and Overnight like this.
  2. Overnight

    Overnight

    Of COURSE it is ok for testing. It (NT7) usually works quite well for learning how software works, how the entries and exits will go, how the ATM system functions, etc. But you occasionally get a glitch with it, so in your testing regimen you must discard those trades.

    But in general, paper trading is shit in the sense of the PSYCHOLOGY behind it. You don't feel the pain and glory of the trades when it is fake money. And that is how people get caught up on crap like trading 100 contracts in the ES with 50K in an account.
     
    #302     Jan 17, 2023
    Tradess0610 and spy like this.
  3. SunTrader

    SunTrader

    Never used sim in my life. I've sometimes thought hmm coulda bought here, coulda sold there. Though got rid of that stoopid habit quick.
     
    #303     Jan 18, 2023
  4. I do not think, that paper trading is a total shit. It is useful if you want to understand, how online trading works and to build your own strategy. Of course trading with fake money is not similar to the real one, as you risk much more, but in any case it is not bad. Especially if you use trusted paper trading platforms.
     
    #304     Jan 20, 2023
  5. Tavurth

    Tavurth

    Why not attach some small bonus or detriment to paper trading. Use pavlov against yourself.
     
    #305     Jan 20, 2023
  6. madein212

    madein212

    You can make all the money you can on sim, but nothing is going to prepare u for the flood of emotions you'll feel when trading live. Confidence is always high when paper-trading. That's also one sure way to tell when someone's faking it online (streamers)....they are generally calm. Controlling your emotions is the single greatest skill you need to master when attempting to trade live....and being on sim only gives an illusion of a false sense of confidence.
     
    #306     Jan 20, 2023
    Tradess0610 likes this.