This is the only reason I still have money left in my account. Money that I am not considering on dumping into an investment after busting my butt trying to make money trading for the last nearly 3 years.
Highly unlikely your paper trading is giving an accurate simulation of friction/spreads. I bet you're using TOS too - which is well known for being crap at simulated trading. On top of that, there's the emotional aspect - which you should determine if it's an actual problem or not.
Alright well if you're profitable on 90% of your trades in paper trading and not when real trading - then what actually differs? The market doesn't know you're paper trading, so you need to identify what i actually changing. Are you closing trades early or otherwise monkeying around with things whereas in paper trading you aren't? There has to be some kind of difference.
Being Successful at Anything in life is a rather small, elite club (no pun intended). Does that mean you should not pursue it -- that's debatable, depending on the person.
The expected value of most options trades is approximately zero. I would expect that over the long term, the trader who cannot predict anything would make zero. You need to be able to make enough accurate guesses about direction or volatility. You cannot just blindly put on trades and wait for time to pass. So work on a method that can successfully predict movement of indexes, stocks, futures, or whatever you want. Then use options to leverage it.
I agree, having been at this a long time and blown up several accounts. The one thing these guys never tell you is how much they are risking. They will suggest that they are doing everything right, and cannot understand why they keep failing. I'm betting a small sum that he's overtrading and risking too much, but doesn't acknowledge it even to himself.
Well, you will begin to win when you will be fed up to lose. In theory, everyone wants to win this game. But in reality, everyone just behaves like losers and / or or drugs addicts. This is human nature. Every day, we think we make some "slight" improvements. We test a new method, a new process, we got some tips... But we live in a vicious circle, where we repeat the same mistakes like in "GroundHound day" movie. Willing to win the game is about question yourself, recognize that you always make the same mistakes, and do all possible efforts to improve and be the best you can. But for what I see in my job and read in internet and here, vast majority in the markets are happy being losers. They just don't want to change. They will burn one account of 100 dollars, then 1000 dollars, then everything. In my case, I changed because I am a bad loser and I just could'nt accept to lose anymore. I was angry at myself, and finally accepted the rules: Hard work 10h/12h everyday, work during week-end too, discipline, focus, will to win, no emotions, humility. This is the "secret sauce" to win and be part of the 10% or even 1% who master the markets. But believe me, it takes time and efforts except if you are a genius. CM