Hi Folks, I have been paper trading the SP500, NQ and ER2 for a few months now. I have developed a system that nets ~1k per month for 1 contract. This week my company presented me with a buy-out package. So it's time to go from part-time amateur to full-time professional. Any thoughts or advise would be greatly appreciated. Muriel
Just be prepared for things not going as you have planned. That's the reality of putting money on the line vs. paper trading.
Once real money is on the line your whole perspective may change, especially if you will be needing the money in the future. If it is risk money - take your time and play small, and by all means enjoy it, or find something else. Make 'em pretty, Chris
keep everything as simple as possible. Stick with the basics. When I went full time, I used my bread and butter - fade the gap on stocks - and it's still my highest probability and most profitable setup. I occasionally fade the ES, but find stocks more suited to my style.
A wise-man was seated in silent prayer, When a stranger came by and rested there. The stranger was haggard and his clothes were all torn, And he spoke to the wise-man in a voice all forlorn. "Which road do I take to get serene above all, For wherever I go I hit splat into a wall?" The wise-man smiled, easing the stranger's load, And he pointed his finger down a narrow, twisting road., So the stranger set off and his gait was quite light, But he returned pretty soon and he looked a worse sight. "That road I went down I didn't like it at all, For after a while I went splat into a wall. "I really want a path that will give me some peace, Where my fears will go free and my tensions will cease. The stranger pleaded some more, his voice was disjointed, But down the same road the wise-man again pointed. The stranger set off, though he looked full of doubt, And after a while he returned with a shout. "How come you sent me down that same twisting road? Can't you see I am tired and I don't want this load?" The wise-man spoke in a voice that was keen, "I thought you were searching for a life that's serene?" The stranger exclaimed, "Yes, I really want that!" "Then," the wise-man said softly, "You must go through the splat."
I have traded for real, with 1 contract before I came up with my system, so I do know that indeed my perspective has changed. Than I started paper trading has I did when it was for real, that's when I came up with my system. I have to say I am nervous, but I don't believe I have a choice and I am getting a healthy buy out, so I have so time to get comfy. The other thing I just realized as I write this, I have trust and have faith in my ability to make this work. yeahh 4 me. LOL