I did paper trading i started with 10000 and in 5 days turned it into 36000 I know there is know way in the world the actuall market is this easy. So how much harder is it?? What is the difference??
really... it's that easy! come on over a join the party ----------- no but seriously... you have an extraordinarily long way to go psychologically before you can do THAT wil real money...
It is hard to believe, but the actual market is even easier. Most likely you would turn it into double what you already made. It works like this, all those Exam Prep companies out there, such as Kaplan etc, they have the hardest practice exams and such. I never got higher than 600 on the Princeton Review GMAT practice exams. But on the real test I rocked the boat and had a 730. I never made any money paper trading, EVER! The focus for me is just not there when the real money is not on the line. I lost almost 65% of my equity paper trading, but the losses were only half as much with real money.
well i can see its hard by the way you guys are talking!! I know im not ready to start with real money and im going to continue my paper trading!! Im sure its harder when its real money and im sure it was all luck that i did that good.
Once you know the mechanics, paper trading is a complete waste of time. Almost everyone who paper trades makes money before they go live. Almost everyone starts losing as soon as they go live. Systems traders are not immune to this BTW. They simply stop taking their signals, where as discretionary traders do all kinds of stupid things to annihilate accounts. Revenge trading comes to mind as one of these. Something you'd never do with a paper account. Its been my experience that most of the people who support paper trading ARE paper traders. How would they know? This profession is 90% psychology, which doesn't kick in with paper trading. Its best to actually trade, but very small size imo.
Good points Jayford. You just have to start small and move up in size as you get better. I'm not saying paper trading is worthless, but trading with small lots ( 100 ) in the beginning will do him/her a lot better IMHO. Good trades to you all.
if you use the next generation sim trading like ninja, button, bracket then it shouldn't be much diff from real trading except the emotion part so go with realistic amount and contracts just like you would for real and you should be fine.
Why would anyone live-trade one share of stock without having some kind of a plan that he believes would reasonably produce some profits? Puhleeze don't try to tell me paper trading is worthless.