Discipline is a by product of a SOUND METHOD. Without a good trading technique, you can have all the discipline in the world and still be a loser.
Well classified Bearbelly ... what a poorly written OP. Its not the losses that they complain about its the sheer waste of the english language. LOL. And then the OP calls his detractors newbies because they show such good taste. Recognizing what's a waste of time might well be the holy grail of trading! The great thing about ET is that even the crap can be entertaining.
========================= Exactly Nutmeg, spicey read; & those who criticize paper trading probably haven't done it enough years. Or maybe some are simply too lazy. Prefer paper & real time trading rather than demo. And true its not the same as money; HOWEVER it helps learn level$,and keeps me out of questionable probability trades And safely satisfies urge to ''do something''
Paper trading is mostly good to reveal when your strategies are wrong. Of course, eliminating those are important too.
Paper trading is what i also did for about 1 year before putting my money on the line. I am not against it, but the problem is that paper trading results are sometimes stellar and you risk putting your money on the line using a method that you feel uncomfortable with when trading real money... I feel that real $ trading gets you in check with yourself, rather than the market, and i feel that is an important step... Everyone who is idiot enough to criticize the existence of this post is simply ignorant. I am not saying that THIS IS THE WAY. Different people have different ways. I was simply describing what was my and other people's experience. I would say f*** in advance, but i am keeping my manners
Im going to let you guys in on something. In any enterprise or business, there is usually no profitability for the first year or so. Lets take Starbucks. The CEO and his team went without a salary for a few years. Ask any lawyer, the first few years out of law school you make no money. Its like this with any business or enterprise. Now it doesnt have to be that way and its not that way for some people, but it usually is that way for most people. It takes time to learn and develop your own system. It cant be expected to be done overnight.
Thanks Michael. And "most of the people" don't have a Holy Grail. They have other, more practical and trustworthy qualities, like, hard work, intelligence, education, passion...
ATTN: ALL NEW TRADERS: SAVE YOURSELF SOME TIME, WHILE WE ARE EARLY IN THIS THREAD. ONLY READ GNOME'S POSTS IN THIS THREAD. HE IS RIGHT ON THE MARK. GOOD LUCK.
whatever. i hereby call this thread closed don't post anymore. it is a waste of time... i don't even know why i started it. guess i was bored waiting for a good setup... hahha
I can't recall the exact co but the idea is this: You deposit 25k to trade, then you purchase a "training" for about 5 - 10k, then after six months to a year you purchase another training for the same amount. Then you become certified to become a teacher and you collect part of the "fees" from the new trainees with your new teacher status.