Show me. I would like to see you turn 100k into 1million paper trading posting daily screenshots of your blotter. And how long will you take to accomplish that? Your strategy either works or it doesn't. Most people on here don't have a working strategy and will turn 100k to 10k paper trading. The only thing missing with paper trading is the emotional element but atleast it is proof of a working strategy. And are you sure you actually trade? Because any real trader knows that a losing trade with a good stop loss is fine. With 5 losing trades in a row with a 10% stop loss I should be down by 8K not out of the game. Keep in mind I have never lost 10% on a trade it is 5% tops.
Stop losses, and gains, are a double-edged sword though...it can work both ways in your favor and against you. The trick though and skill in trading...is having the foresight to make that judgement call. If trading automatic stop losses and gains were that simple and linear and easy...everyone would be driving around in Ferrari's and wearing Rolex and eating lobsters for lunch. I have turned 100k into a million in paper trading accounts. And likewise have lost some as well...with high gains, comes that lingering potential for just as high losses. Again, the trick and skill though in trading is usually in the collective details and management of yourself. Being an aggressive, or elite, trader is not for everyone -- not many people have the stomach and skill and fortitude and mentality and maturity for it....that's why mutual funds and diversification exists. There's usually more than meets the eye in a relatively basic and short forum post. Good trading, ET extraterrestrials...High-Five`
You don't need a strategy to do it with a paper trading account. I will simply trade huge positions on trades I know will work with no fear of losing a penny and 10x the money in the account no problem. The fact that you think paper trading a strategy has any bear on how well you will perform in the real market shows how little you know.
Wrong, wrong , and wrong again. For one, paper trading charges much less commission. Spreads are irrelevant. Your orders are unrealistically fulfilled, and emotion is everything. Absolutely everything. Consider how many times you have seen something you though was a good opportunity, not taken it, and then it worked out the way you thought it would. With paper trading you will hit a lot of the time due to that simple fact. You will go big on the trades that you are sure will workout. With real money you will doubt yourself, and watch your p/l much more closely. Practice your "strategy" all you want with a paper account. Try it with real money and see what happens. You sound very new to this game. Good luck.
Wrong again. My site allows you to set the commissions. Plus I only trade highly liquid stocks way beyond my position size. And emotion is everything only for people who don't know what they are doing or don't have a working strategy that is tried and tested.
Coming from the kid making a paper trading journal for "accountability". Your stubbornness and know it all attitude will keep you from succeeding in this game and most others. Good luck with your funny money.
A journey of a 1000 miles begins with the first step and that is what I have taken. Thanks for the luck but it doesn't help with trading
You don't know what will and won't help. Stop with the know it all approach. With your attitude you will lose everything you have. I can guarantee it. Quit patting yourself on the back. Come back when you are trading with real money and apologize for being a stubborn prick when you lose it all.
This is what a poster said in another thread. Either you are a fool or you are intentionally misguiding newbies. I choose to follow the advice below and stop posting on my thread! Keep paper trading until you are consistently profitable. Putting "skin in the game" does not make a bad strategy or poor trading behavior better; all you're going to do is get poorer