After my first year of mediocre trading, I’m looking to do some serious training on a paper account

TerminalUltra

TerminalUltra

This past year I started my trading journey with a small account.with no real progress and doing research I’m ready to go back to paper trading seriously and do some learning and gain the actual skills needed before hopping back on my cash account. I’ve collected some reading material on TA and fundamental analysis, and was able to get a discount IBD subscription.

I played with a few brokers this last year and have settled on IBKR Lite for now. I’m an Automation Developer for a wealth management firm and am pursuing my MS in Accounting/Finance to pair with my BS in Computer science. So currently I’m all in in learning Finance and the markets at this point in my life. Becoming good at programming takes screen time and getting behind the keyboard to train and grind code. I feel the same mindset in learning some of these deep concepts can be placed with paper trading.

Is there a structured path on what and how I should learn? I would like to take 1-2 months of hardcore paper “training” but where to start and where to go is what I’m looking for.
 
Right now I’ve only traded stocks on, haven’t ventured out yet to options, forex or futures. Again basic noob 1st year trader, just wanting to formulate a training plan using paper trading.
 
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Lol, there is no easy path to learn to trade and why 95% lose at trading. Companies can hide what really going on in accounting. Stick with charting, 99% of trading though is risk management.
 
I read you're pursuing a degree in finance.

A question to ponder in your future studies.

Are the markets a random event moved by the hand of man?
Or are the markets following a detectable cycle upon
time/price correlation into it's geometric form?
 
mikeriley said:
I read you're pursuing a degree in finance.

A question to ponder in your future studies.

Are the markets a random event moved by the hand of man?
Or are the markets following a detectable cycle upon
time/price correlation into it's geometric form?
More...
I would like to say both, where large funds make the moves which the market adjusts but with study speculation I believe timing cycles is also possible
 
Handle123 said:
Lol, there is no easy path to learn to trade and why 95% lose at trading. Companies can hide what really going on in accounting. Stick with charting, 99% of trading though is risk management.
More...
I’m just trying to relate how a programmer like myself can take that method of learning and education to a paper trading account. IE there is a sequential method of concepts one must learn and practice in order to become good at computer science concepts (databases, networking, scripting, coding, algorithms etc) I am assuming with TA techniques, fundamental analysis of corporate finances and financial analysis. There seems to be a plethora of concepts that can and should be learned just like I had to do with my tech skills
 
TerminalUltra said:
day trade would be the end goal, but only have a small account, that mixed with some swings.
More...
Why day trading? With a small account you run up against the PDT rule. Probably the most difficult type of trading.

I'm not sure why people are drawn to day trading. Is it the lure of easy money, the internet guys who are turning a 5k account into millions or some other reason?

I know I tried it and on paper it looks like if you only make a half percent a day then compound it you'll soon be wealthy. What doesn't show up in your calculations are the inevitable losing days, the spread, or the mistakes.
 
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