Crazy paper trading day

[p0box4]

I'm wondering what if I have 2 orders, one above and one below. One cancels the other, and which ever it hits, that has a profit target 10 points above/below.

Only works in demo, if it were that easy everyone would be a billionaire in no time.

 

[farmerjohn1324]

Sure you can. But you have just seen something you cannot unsee. What you did with the 100 contract "play money" is now going to be eating at your brain.

You totally fucked your mind up when you did that. I really wish you had not done it. I would strongly suggest that you go back to one contract, right now and stay there for a few weeks, and really try to forget WTF happened to you.

You have been traumatized, unless you are a robot. And I do not think you are a robot.

I had been doing 6 contracts on Schwab. So that's my baseline

 

[p0box4]

Sure you can. But you have just seen something you cannot unsee. What you did with the 100 contract "play money" is now going to be eating at your brain.

You totally fucked your mind up when you did that. I really wish you had not done it. I would strongly suggest that you go back to one contract, right now and stay there for a few weeks, and really try to forget WTF happened to you.

You have been traumatized, unless you are a robot. And I do not think you are a robot.

Yep, i once had a $16K winner on FOMC back in 2014 when i still traded FX, real account, doubled the account in a minute, 100% luck.

Fucked me up for a long time, not realistic at all long term, but it seems that way when you first experience it and don't know any better.

Going all in on back or red in the casino probably has better odds.

 

[spy]

I'm really hoping to eventually make a real money strategy out of this.

Pure gold, you're going to do great! Don't listen to the haters. Paper trading is actually much harder than trading with real money... if you can make it there you can make it anywhere. I'd seriously think about putting your entire life savings into a real money account and get started ASAP! 100 contracts is not enough!!!!

You're the man broski!!! UPVOTE THIS POST

 

[Overnight]

I had been doing 6 contracts on Schwab. So that's my baseline

But as you mentioned in your OP, you are now on Ninja and their generous day-trade margins. It is a crack habit you must stop before it starts.

TRUST me when I say this...What you did playing around with 100 contracts has altered your brain chemistry. Sure, you may have some 6 contract baseline with Schwab. But you are not at Schwab.

You have a tough road ahead now. I do not envy your task. Please be prudent, and try to unlearn what you have learned.

 

[schizo]

You totally fucked your mind up when you did that. I really wish you had not done it. I would strongly suggest that you go back to one contract, right now and stay there for a few weeks, and really try to forget WTF happened to you.

I agree. The whole purpose of using the paper account is to trade as realistic as possible. OP's gonna have some hard time purging this bad boy trading image. Noob traders need to know that bad trading habits are like porn. They're addictive and very hard to break.

 

[farmerjohn1324]

Yep, i once had a $16K winner on FOMC back in 2014 when i still traded FX, real account, doubled the account in a minute, 100% luck.

Fucked me up for a long time, not realistic at all long term, but it seems that way when you first experience it and don't know any better.

Going all in on back or red in the casino probably has better odds.

If you wait until after the news release, how is picking red or black? After it starts moving, it will more than likely keep moving in that direction.

 

[p0box4]

If you wait until after the news release, how is picking red or black? After it starts moving, it will more than likely keep moving in that direction.

"It will more than likely keep moving in that direction".

Do you have proper analysis and statistics to back this up?

I can assure you that statement isn't true.

 

[Overnight]

If you wait until after the news release, how is picking red or black? After it starts moving, it will more than likely keep moving in that direction.

That is where you will fail, because it is wrong. See any FOMC/Powell speech day over the last year.

 

[Darc]

I always thought that paper trading and keeping a Journal here was just as psychologically challenging as using real Money.
If you stuff up here, there's dozens of Vultures circling to slip the Boot in.