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

TerminalUltra said:
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.
More...
Will It Scale? If you work a Price Action strategy for example and you get good results, Will It Scale UP to a size that an employer paying for a worker with Automation Developer, Accounting/Finance, BS Comp Sci credentials can spin off? Will it Scale UP enough to justify the effort in the long term?

If you still want to try your hand at daytrading, and are looking for a place to start, you could do worse than finding a few Very Simple price action setups and work outward from there.

https://www.elitetrader.com/et/threads/crude-oil-2021-q4.362613/page-5#post-5518705
 
I provide my clients with a MS Excel spreadsheet macro for tracking their paper trades. We also typically meet one-on-one once per week or so in order to break down trade entries and trade management. It works if you track it like a real trade - entry, daily marks, stop-loss, profit target, exit price and sizing, P&L, performance metrics, etc....

I think that one reason that paper trading works for my clients is that they email to me their trades and their performance spreadsheets, so in that sense there is on some level "accountability".

TerminalUltra said:
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.
More...
 
bone said:
I provide my clients with a MS Excel spreadsheet macro for tracking their paper trades. We also typically meet one-on-one once per week or so in order to break down trade entries and trade management. It works if you track it like a real trade - entry, daily marks, stop-loss, profit target, exit price and sizing, P&L, performance metrics, etc....

I think that one reason that paper trading works for my clients is that they email to me their trades and their performance spreadsheets, so in that sense there is on some level "accountability".
More...

thanks this is along the lines of what I was looking for. Much appreciated
 
You must log in or register to reply here.
Back
Top