^ Thank you for being nice. I know what you're trying to say and it good to hear that other traders are looking out for each other! I know psychology does play a big part but being middle 30ish, I consider myself wiser than most (I hope ). I certainly know you can lose you shirt when it comes to this kind of investing and I don't plan to let it get that far. For example, I had a trade, all the signals were there for a strong long, I entered and for the first five minutes, I was up 4 ticks. THEN I got greedy and the trade went against me. I kept the trade 'hoping' the trade will resume up. In the end I was down 10 ticks. I played with all these good and bad scenarios, really taking the time to go through them and to see if I can improve. Now, for one contract, I make a mental stop of 100 bucks but if I get a positive vibe about the trade, a strict stop of 150 bucks.By, managing my money this way, I seem to be able to control my losses and wins. Can I say to myself I know what I'm doing? No. I don't think anyone is. But I've tried hard at the simulation, I'm in the black so and I'm prepared to break my cherry or break the bank, so to speak Another thought occurred to me. With my simulation with IB, I can enter and exit a trade quite fast. Here are the details: I long or short limit order on the last price and I use the IB 'transmit immediately' (without the order ticket popping up) I normally have no problems getting filled, but if it doesn't transmit fast enough, I cancel and submit the order again. Anyway, can someone tell me if I will be playing with the real thing, would I have problems getting my trades filled? I know ES is traded electronically so should it matter?
All I can say is... check out my journal. All of your answers about paper trading and going to real money with index futures will lie within there
stick to 1 contract at least for 6 months. don't even THINK about trading for a "living" for the next 2 years. this is where most people (including myself initially) stuff up even though they might have a profitable system. the pressure to "earn" clouds your judgment (entries/exits). have a career in the mean time and do your best at it. trading should be a "hobby" or a side thing. Look at trading as solving puzzles. this will help you to to focus on the game instead of the money.