Teach your self on simulators

Discussion in 'Psychology' started by dpolyakov, Apr 19, 2007.

  1. dpolyakov


    I know that a lot of people just want to trade without even heaving a plan what to do in this or that situation. You have to make 100 trades with at least 60% of successfull trades. If that goal is reached, you can trade with real money; otherwise, start again. Once I blew my 5K account, just because I did not train myself. I did 5-6 successfull trades, relaxed, and 1 loss, then another loss, then third loss, one small win, one big loss... and 5K were gone! Lesson learned...

  2. Since only 100 people have read this thread, its apparent that no body even wants to read about using a simulator, more less actually use one. I'd say about 85% of our users at PT ignore our suggestion to practice a few weeks on a simulator and jump straight in to cash. :(

    CajunSniper / Puretick.com Administrator-Trader
  3. Brett Steenbarger advocates the graded use of simulation, likening it to the traders equivelant of a gymnasium.

    It's hard to argue with that logic.

    Most people aren't patient enough to put in the necessary and continual effort, though.
  4. Using simulator, and they are almost identical to real thing in respect to data and fills is of extreme importance. If people can not make money on simulator under real market conditions, and not just back testing, which becomes curve fitting in most cases, what makes them think that it would be any different with real money.

    Yes there is a huge difference between play and real money, but this comes second once simulator is mastered. Then you start trading with one lot, future or 100 shares, and see if dealing with real money alters performance.

  5. dpolyakov


    yep, sooner or later they will understand that simulation is the way to start anyway.
  6. pkny


    someone mentioned a broker with a simulator that doesn't expire, for futures, does anyone recall?
  7. The cheapest way to get free simulator which will be close to identical to real market conditions is to open IB account (min 5k) and get NinjaTrader simulator version, as long as no real trades are needed it is free for as long as you want. So the only fee is about $10 per month or something like this that IB charges as account maintenance.
  8. pkny


    thanks for the info....
  9. Infinity Brokerage has a good one
  10. pkny


    #10     Apr 30, 2007