“Everyone has a plan until they get punched in the mouth.” “No plan survives first contact with the enemy” ~Mike Tyson
Hello Overnight, Only bet when you know you will win consistently year to year for the next X-XX years. Just going for it or just trade right now is why traders lose so much money.
Sounds like you're waiting for a guaranteed market test, solution, formula -- That will never happen. A trader can ace two paper test accounts, but fail completely in two real live accounts, and/or vice versa. That's the reality of the market environment and trader. Trading is similar to flirting and dating....you have to take your chance, win or lose. And take it from there, You need to remove those over-analyzing Eyeglasses of yours....and put on some action Sunglasses, Ya Heard
Hello MacBookProHo, losses will come MacBookProHo, you know this already. Not all trades will be winners. There are no guarantees wins all the time.
There you are finally, admitting that you don't trade live. All of those posts about ratios, backtesting, performances and algos are all related to a paper account. I always thought that you speak too much and something sounded fishy on your posts, well, now everything makes sense. You are a discretionary trader that sometimes play with computers.
Hello angrytrader, I am a honest open book @angrytrader , you can ask me any question on earth you like. I have nothing to hide at all. Yes, I agree with your comments. I am SIM/Paper discretionary/guessing manual trader for about 3 years in a row so far. I also trade 2 live (real money) algos.
Good Morning Overnight, Can you please explain why no-one cares about paper/sim? I will respect your answer and opinion. I believe paper/sim trading is a marvelous business decision for a trader to consider to build confidence, trust, ability to recover drawdown in a timely manner, build skill set as a manual/discretionary trader before risking his/her business capital money. This trading business is challenging, and all the trading capital is needed in the future for when an edge or confident winning trading is discovery. For example, if I had went straight live years ago, I would have lost a lot of money. Because of my discipline and waiting, I was able to take that trading capital and apply towards other investing opportunities and make money. I do not have alot of money, so paper/sim trading fits me. My business approach is: If I can not triple my sim account, I will not triple or double my live account. So I stay in sim to avoid big losses on my business money. Overall, my trading business over the years is positive net gain. No losses. I think about +$9,000 over the years including the cost of trading courses, indicators, etc etc. My goal is to scale up the algos and definitely get live in my manual trading efforts and scale up. I believe manual trading can get me towards my goal of XX-XXX ES contracts faster than algo trading can. Thanks,
Hello Overnight, The two algos have a combined net profit (after commissions) of $5,132 for the 2022 year so far. Hopefully more profits comes by end of the year. Let me know if you have more questions.