Here's the thing. I bought tradingsim.com subscription. I think it's a good software to practice. Yet, the odd thing is that it doesn't seem to be helping. Or I'm not approaching it the right way. I usually go back to the day when I lost a lot of money and replay it using tradingsim.com website. But I still haven't internalize these patterns that I know intellectually works. Maybe daytrading futures is too fast for me. Not sure. So, I just signed up for IB Paper Trading account. Maybe that will simulate the real conditions better. I'll give it a few weeks to a month of paper trading to see if I can instill good habits into my trading. Especially the habit of risk management and putting in stops. That's what is killing me really.
It may or may not help. My advice to you (and I wish I had this advice 3 years ago, the bloodletting would have been less) is to do what you are doing, but in live on MGC. Trust me on that.
Pfhh, I have no idea what we're on about at the moment. Just a funny between stock/option trading and futures. All I know is,. I want Xela in my corner, against themickey and whomever he pulls into his ring.
Mate, imo, day trading suits people who are very fast thinkers and have enormous energy, young, hyper type people, guys/gals who can't sit still for one minute, ants in their pants type. If you are of the studios mind type, day trading will leave you behind I reckon. But if the peck peck pecking all day long, one crumb at a time sounds like fun, do it. Only difference is, the crumbs are dancing about so you gotta jump around trying to catch them in a fleeting moment.
Daytrading doesn't mean you're actively trading all day long. The reason I prefer it over buy and hold is I don't feel like holding through a market correction. Buy near the low. Sell near the high. Wait out the correction. Rinse Repeat. That's what good daytrading is about. Of course the key to being a good daytrading is good market timing.
We here in the futures world do not "peck peck" all day long at crumbs like the chickens. We smoke the henhouse, byatch! Yes, this happened, I posted this. We in the futures world are messed up. (sorry).
Found hypnosis, 12 sessions in my 7th year of losing/last in futures really nailed one of last areas. I still go 3-4 times each year to work on me as I have problems outside of trading but if not taken care will hurt my trading. Good luck to you.com
@trader99 Sorry if I'm misunderstanding how you're trading, but it sounds as though you are buying/selling in the direction of the trend at times and also doing so against the trend at others. And rather than entering on reactions, you're entering on moves in the direction of the trend. Or perhaps you are seeing counter trend moves as moves in the primary direction. If this is true, some additional study regarding reading trends and entry tactics could help you before doing the paper trading that you are planning. Again, sorry if I read between the lines incorrectly.