Yay another noob posting hoping to eventually succeed at trading haha This is a noob question but I'm hoping it can help more people than myself, good news is I haven't actually traded with my own money because I know I will lose it in the blink of an eye so I think that is a step in the right direction, but I have been playing with some simulated trading to get a 'feel' of the market. I've actually been doing well (I know sim results are not true to life well aware) the thing is I sort of know what I'm doing so I was wondering how I build this into a strategy. Can anyone share how they went about this or what this did to built it and how much of how you trade does it control (especially if you are more discretionary) anything really with this will help
Depends on what you define as young I am 23, but I think what I think of as old would be different for other people. On the troll part definitely not just looking for direction
Backtest your trade strategy. If the results are positive...that's when you go to simulator trading. If you do it any other way (so far it seems like you're starting that way)...you're just going to become another failed trader that lost his/her real money. Backtesting is the best way to get a "feel" of the market via comparing current backtest results to historical results. Here's something else to remember...when your backtest results are positive and you then transfer into simulator trading...continue backtesting your current trading performance for comparison to prior backtesting results. In contrast, simulator trading should only be used to learn the trade execution platform from the broker that you're going to be using for real money trading. There's that direction you're looking for. wrbtrader
I think then if that was the way to do it I've gone two steps ahead... oh well. while that would be helpful what I need first is help in the development of that strategy and how also a question just wondering how other people use a strategy
If you have enough balls to start the trading, have enough balls to continue it ! And that means you do not need to know what anyone did, how, when and why, neither as the reference pint, nor as the encouragement(or discouragement). You are on your own man,.... Enjoy !
'How much depth does your strategy have'...I don't even know what the heck that means. Nor do I understand your post, reads like a bunch of vague gibberish with no point or exact question. Anyways, a trader needs to be like Indiana Jones. -- If you are too cautious and prefer to think about things and concepts and philosophies and theories behind the safety of a desk...you won't succeed as a trader. I hope this semi-answers your question.
To make it a bit clearer, if you have a trading strategy, how much of your trading does it dictate, what do you let it control what do you control, what have you included etc. Also, I love the Indiana Jones nod
Also I'm not asking for anyones trading strategy because I agree with qxr1011 everyone will trade differently you need to find your way, but also because well I don't think anyone will just have that out hahaha
You're still trying to jump the gun sort'uv speak. Right now you should only be concern with developing your trade strategy and then backtesting it to see if it merits moving into simulator trading instead of being concerned with issues that only an experience trader should be wondering about. Yet, if you've already mastered your trade execution platform...move into small position size trading with real money. This whole process may take a few years or many months...not days or weeks. Then when you're trading with real money...that's when you'll be able to determine how much of your trading is about your trade strategy versus how much of your trading is about you as a trader. wrbtrader