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Title: paper Trading, who do it? Post by: siagh357 on May 24, 2018, 10:29:02 PM I have been told by a lot of good traders that before I become a pro trader I need to paper trade. Who does it and can some one share his experience and strategy for me to learn. It Is even effective in making one a good trader?
Title: Re: paper Trading, who do it? Post by: SFR10 on May 25, 2018, 06:55:06 AM It Is even effective in making one a good trader? You can end up on both sides. The main issue is when amateur traders get used to it, most tend to fail in applying everything in real trading.- Some of the reasons are:
The above two, makes amateur traders to choose wrong decisions (there are few other things as well). Regardless of what I've said, do some paper trading (to be familiar with everything) but try to see it as a real trading. - Useful links:
Title: Re: paper Trading, who do it? Post by: Awesomus Maximus on May 25, 2018, 08:36:43 AM Thanks for the links, they are very useful. I liked the advice to start trading after some practice with small amounts of money. Choose small enough sum that you are comfortable to lose in order to minimize the amount of stress. Then double the sum when you become good at handling the stress with the initial sum and so on.
Title: Re: paper Trading, who do it? Post by: Jhomzky23 on May 25, 2018, 08:53:56 AM Of course, paper trading is a good training ground before using real money. There are 2 things that are essential in paper trading. The first one is you can trade and try out different trading styles/systems and find what works for you best. Number two would be assessing yourself whether you're ready or not in trading with real money depending on the result of your paper trade. For instance, if you can consistently win/profit in you paper trade for say several months, it can boost your confidence in real trading arena therefore executing each trade better.
Title: Re: paper Trading, who do it? Post by: palle11 on May 25, 2018, 08:56:49 AM I have been told by a lot of good traders that before I become a pro trader I need to paper trade. Who does it and can some one share his experience and strategy for me to learn. It Is even effective in making one a good trader? I believe that what you mean by paper trading is same thing as demo trading. For my view, demo trading is just for you to familiarize yourself with the trading platform, getting use to the buttons, where to find them, making orders, indicators etc. As for the trading experience with demo and real life trading, they are not the same because one involves "fake" money visible on the platform while the other involves your "hard earned money" on the platform too. Off course you know the emotions wouldn't be measured in the same way ;D |