Hello p0box4,
Is there an issue with paper trading?
Every trader is at different stages in life. Not everyone has earned the right to trade with real money. Therefore, we stay in paper trading until we get consistency.
Bhel puri...Improving Brooks the Padu Way
- Thread starter padutrader
- Start date
Is there an issue with paper trading?
Every trader is at different stages in life. Not everyone has earned the right to trade with real money. Therefore, we stay in paper trading until we get consistency.
Hello p0box4,
Is there an issue (e.g., is it bad) with risking (stop loss) $500 to gain reward of $100 (profit target) in trading?
Thanks
I FORGET TO THANK YOU.......for encouraging an 63 old idiot, who with one foot in the grave is tryin to learn to trade.
people like who give such constructive advice is what makes ET great.
i have told Baron to give a huge reward for such self less service
no it means i have spent 2 days .......that means a lot...i am only trading to kill time and not lose money so sim is the best way
Hello padutrader,
Do not listen to this people discouraging you or talking negative about you trading SIM. And never forget what Buffet says below. They will not be around when your live account goes in drawdown by $X,XXX to $XX, XXXX because of the rush "you gotta trade real money" quote
You are winning, because you are have not lost nothing. So great job to me.
Positivity!
are you selling short And Buying long?
Are you shorting and longing?
Of course there are no issues with paper trading. However trading is all about consistency.
2 days of trading does not give a reliable track record. I think Padu has proved that by now, maybe a 100 times.
Every time he has been profitable on demo or with a live account for 2 days he thinks he reinvented the wheel, yet a few days later he blows his account.
I would say that is the issue, specially when the trader has been making those exact same mistakes over and over again for 13 years. He keeps making the same mistakes yet is expecting a different outcome.
How many times in the past have you been profitable for a day or 2? How long did that profitability last? Never long.
So i would expect you to know by now that a track record of 2 days isn't reliable.
Unfortunately you keep thinking you reinvented the wheel every other few weeks when you made some profits for 2 days, only to blow your account a few days later.
I am not really sure in what universe that means a lot, but i know it isn't ours.
If your average risk to reward is $500 to $100 you need at least 85% success rate to just be break even, including slippage and commissions.
So yes, i would say that is quite bad.