I spent 2007 paper-trading...ready for real time?

Discussion in 'Trading' started by newtrader8, Feb 3, 2008.

  1. Decided to do paper-trading from the beginning of last year to now. Basically did about 3500 contracts in the ES, 500 in Soybeans, and some 300~ in grain and hog spreads.

    Factoring in IB commissions, I took the $25k starting paper-trading account to $128,404.90 by last Friday. I have done this with both fundamental and technical research, being about 20% and 80%, respectively. I never fell below $24,800, so I was profitable consistently from the beginning.

    I'm in front of my computer when in a trade, unless it is a hedged spread in grains or the Lean hogs.

    What do you think? I believe I can replicate these returns with real money. I only work from 11am to 6pm, so I can trade the open from 8:30 (central time) to when I leave about 10. I also trade soybeans and wheat in the evening where I see decent liquidity.
     
  2. how long do you hold your trades... how many contracts do u trade
     
  3. mogul

    mogul

    You already know the answer to your question.

    The only way to find out is to do it. Whatever obstacles you will face with your real account cannot be overcome with any further papertrading.
     
  4. This is to certify that newtrader8 has successfuly passed all the qualifications for real trading and ready to trade with real money.
     
  5. PJT

    PJT

    When you are nearing your stop and your stop dictates your loss will be $3000 is when the real fireworks begin. The funnest part is when you take the stop loss and the market proceeds to reverse in 15 minutes bringing you back to what would have been even but you already took your stop.

    good times and good luck:)
     
  6. Jaybeemac

    Jaybeemac

    Newtrader8,

    I'm a newb also, but am just getting ready to start paper trading. Which sims did you use for a whole year? Did you try alot of different ones, or did you use just one?
     
  7. Exactly. Posting here might have been the first sign of weakness. No offense, I actually think this is the case. Just goes to show what real money can do to your head.

    You already know the answer to your question. You must put your money on the line. If you've taken 24K to 124K in the paper account, there is no point in continuing with it, unless you are psychologically unprepared or you don't have any actual money.
     
  8. Give the man his certification already! :)
     
  9. Delayed gratification is the ultimate discipline. You are good to go..



     
  10. you knew the answer to this question before you even asked it.

    You are ready.

    stick to your trade plan and always remember RISK MANAGEMENT.

    How about you start a Journal on this site and tell us how it goes.

    best of luck and happy trading.
     
    #10     Feb 3, 2008