%% BIGGEST problems include but not limited to. 1] Paper trading can help, but its nowhere near the real market. 777] One got $1,000,000 selling ''pet rocks''; buy so many , many more got millions investing + market investing than trading /have to factor that IN. As the years pass buy, ok,did fine on inVerse ETFs yesterday, but re-read#777 888] Sure Paul Tudor Jones is a billionaire; + inverse ETFs could help a bit , but picking single stocks + profit , frankly was so inferior profits back to my ETFs, medium + long term profits . 666] Oops , a 666= lower number; some years go, they reverse split + never did well after that in TZA, not blaming them\LOL just saying 999] So few profitable bear funds , if you are not inclined to inverse ETFs dont worry about it!! ''100% paper gains in a few weeks ''?? Interesting, P T Jones only did near that % for few years, but it was real time gains .
%% THAT can work well if your name is Peter Lynch, Fidelity ; + meanwhile SPY benchmark moving up in May/QQQ moving up/May/YTD...... . Oops sorry real time SPy -LOL just lost a dime,weekly. / Back to Uptrends \; + ocasional inverse ETFs............................. Losers add to losers -Paul Tudor Jones. LOL/ SPY price just gained the dime back
If you are just using TA to trade you are bound to failure. There is only one way to use TA properly and it is against it. Whatever an indicator signals, do the opposite.
%% Good + nothing quite like a good bull market Uptrend; SH + other inverses can help on day like tuesday
The problem is support and resistance levels don't actually exist and are therefore un-tradeable. Carry on.
Paper trading long-only strategy on daily time frame in few weeks and transition to live trading? Have you backtested before paper trading and if yes, what is the statistics? How does the strategy perform during bearish market? I would like to see >= 200 trades in at least 6 months for day trading before I consider my strategy can dance with the market and backtest more data to find fault on my strategy. And my strategy is 2-way direction. Notice I use the word fault. The presumption of any strategy should be it doesn't work until proven otherwise with enough data. Maybe you should pull hand break and backtest more before even paper trade.
@Mr.Richter , the sting of losing has to become common/bearable. I would say keep at it. Duration of time gathering information on your win/loss; profit/loss ratio is important. Say at least six months? Monthly, Weekly, and Daily charts are a nice Topdown approach to long trading. Also, nothing is ever certain in this market, so words like "accurate, tremendous success, minor and significant" can lead to a false sense of security. How many years of experience do you have anyway?