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

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

  1. cszulc

    cszulc

    I've been using the paper trading account with Interactive Brokers, had an account there with some blue chip stocks and covered calls, not too much of a gain there last year.

    Mainly in a trade for anywhere between a minute and 20 minutes, longer if it's working for me well. In the e-minis, I probably have at most 5 contracts on at once while I'm in front of the screen, but usually 2-3. For my grain and meat spreads, it ranges from 4-8 depending on my risk outlook and opportunity. My stops were usually 3 points in the ES, and 30 in the YM (both equal $150). The stops didn't get hit much, and sometimes were a little wider during volatile times. Most I ever lost on a trade was somewhere between $700-$800, and most I ever made was $1,000.

    I'm probably going to start this week and might start a Journal here in doing so for my spreads.
     
    #11     Feb 3, 2008
  2. You can start with real money, however now commodities have mostly plateaued, and in the stock market, things aren't clear now, the market may plunge further.

    You daytrade? If so, be aware that paper-trading is very different than reality, in such a small time frame.
     
    #12     Feb 3, 2008
  3. cszulc

    cszulc

    Forgot to add my advice:

    newtrader8,

    I am in the same boat as you. I've done options tradng, but never really futures. I've been paper trading a little, and think you're ready. You have my approval :D , but don't blame it on me if you forget.
     
    #13     Feb 3, 2008