Don't trust his words, paper trading is useless, paper trading is a waste of time.
but don't trust my words.
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21 year old beginner.
- Thread starter mailman12
- Start date
Don't trust his words, paper trading is useless, paper trading is a waste of time.
but don't trust my words.
2000 hours of getting straight up kicked in the balls, 2000 hours of getting punched in the face, 2000 hours learning how to stand, 2000 hours of learning discipline, and 2000 hours learning to knock the other guy out.
Total 10,000 hrs go.
and thats just the beginning . Now you have to learn how to stay on top.
Total 10,000 hrs go.
and thats just the beginning . Now you have to learn how to stay on top.
Quote from beachhouse:
Don't trust his words, paper trading is useless, paper trading is a waste of time.
but don't trust my words.
I used to think the same thing - but I believe you're incorrect.
Papertrading creates habit. It doesn't give you any indication of what success will be like in trading, but if you're a daytrader it helps with skillsets like hotkeys, pattern recognition, and execution.
Overall trading ability is hindered only because there are no psychological barriers.
Quote from Zr1Trader:
2000 hours of getting straight up kicked in the balls, 2000 hours of getting punched in the face, 2000 hours learning how to stand, 2000 hours of learning discipline, and 2000 hours learning to knock the other guy out.
Total 10,000 hrs go.
and thats just the beginning . Now you have to learn how to stay on top.
Don't believe him either, he is a paper trader.
Quote from beachhouse:
Don't believe him either, he is a paper trader.
Put up or shut up,
I clearly stated in CL thread that I was only posting a few sim trades testing some new stuff. I also stated I don't post live trades because I don't need to be fighting my ego during the day as well as focus on trading.
This is from TF , NQ, CL, GC today. How did you do?
Attachments
Quote from wiesman02:
Pick an instrument, and study the price action of that instrument. Make sure you chose only one instrument. Don't go skipping around to different instruments looking for that 'holy grail'. Choose one and study it until you're blue in the face. Be a master of that instrument.
For example, say you choose the ES. Take a chart, throw up 15 min bars with NO indicators, and study how the ES moves. After 6 months of studying it, you'll learn of a few intraday patterns that repeat every now and again. After 2 years, you'll have a decent idea of which patterns to trade, and which to stay away from.
Just make sure you study these charts live every day. If you don't put in the time, you'll never make it. Having a mentor helps also !
This is good advice. There are people who can make money consistently from price action and price patterns. Price has its own logic on how it wants to move, whether in its trending phase, trading range phase, the manner patterns are created, and the frequency and likelihood of all these phases that occur in various time frames.
Quote from mailman12:
I am 21 year old who lives in Baltimore, Maryland and I want to be a trader. I have mildly studied stocks and options and I have paper traded a few. I am trying to study trading in general and I just need somewhere to start to learn it. I would like to work with a prop firm oneday.
Also there is a friend of the family that is about to start a hedge fund. He of course knows how to trade very well. He is willing to teach me, so I am hoping he will come through with it. He is just busy all the time, which he should be, and I do not want to wait around to learn what I need to learn. I would like to get ahead start on it so that he would give me an opportunity trading with him.
I just need some advice on where to go to get some training.
Thank you.
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Quote from mailman12:
I am 21 year old who lives in Baltimore, Maryland and I want to be a trader. I have mildly studied stocks and options and I have paper traded a few. I am trying to study trading in general and I just need somewhere to start to learn it. I would like to work with a prop firm oneday.
Also there is a friend of the family that is about to start a hedge fund. He of course knows how to trade very well. He is willing to teach me, so I am hoping he will come through with it. He is just busy all the time, which he should be, and I do not want to wait around to learn what I need to learn. I would like to get ahead start on it so that he would give me an opportunity trading with him.
I just need some advice on where to go to get some training.
Thank you.
Take advantage of your friend that is starting the hedge fund! Do whatever you can to get him to help you out. Offer to work as an intern, help him with grunt work etc. If you follow the advice of 90% of the people on this board it will hinder you rather then help you. In fact stay away from this site until you have a general idea of what you are doing!