How similar is a sim to live trading?

He's already been live, it went nowhere. But you could also do this. Moderating size is a valid approach.

 

Agreed. Plus Sim can only get you so far. You’ll never get the psychological impact of trading real money in sim.

Comparing sim to live trading is like comparing learning how to drive playing a video game versus getting in a real car. It’s just not the same thing.

 

One cannot moderate size when one is already trading the minimum size available. Oh, I am so moderate, I put prudes to shame!

 

One thing you will never learn from a sim is how to deal with your emotions. How you deal with your emotions is by trading a small amount of money that you CAN afford to lose. You will learn better with real money. When you start trading with a higher amount, with no trading knowledge you start making stupid decisions.

 

I think success as a trader means a few hundred percent on your account. But, if you start from chump change it would be a lot more than that.

From where I am I will call myself successful if I can break $200,000.

 

My experience is that you CAN use sims to deal with your emotions if you do it often enough. Sim trading is the same as training for a sport. I once played a scrimmage against the Chinese national hockey team and even though it wasn't a real game, it made me a better goalie. And it was fucking painful holy shit. Never let anyone tell you that the fourth line is bullshit.

If you take the analogy further: do you really think that you can become a top sports player just playing for real? Hockey games last for 3 hours, and maybe you'll play 1 or 2 a week. That's 6 hours where you don't get a chance to improve what you suck at except under fire. (edit: and most of the time you're not even on the ice if you suck!!!)

No, it doesn't work that way. Train until you are numb. Then play for real. Or "scrimmage" with small amounts. But train like a professional.

My 2c.

Yeah I get you. I took $5K to $50K and now I want to take it to $500K.

LOL

 

sim trading is 90% technical, 10% mind & money management.

once you pass sim trading, proceed to live trading.

live trading is 90% mind and money management, and 10% technical.

so if you hear traders talk alot about about technical analysis, that person is still on sim.

 

It's one thing to try and grow a 10k account.

It's an entirely different story with anything six figures or more.

Especially if you are gonna trade any kind of size. Even 10 times leverage is very risky, and I don't even consider that a lot of leverage.

With 10k I wouldn't even be able to trade. That's a joke amount. It would be extremely limiting.

 

Probably.

 

Yes liquidity limits, slippage, spread widening are important factors that weigh down on net profit or even eat it completely (if you make a lot of trades and prefer to grab small profits). Some mention emotional pressure, but if you follow rules (some algorithm) then it should not be a problem. I would even say that in trading it is advisable to follow an algorithm.