Crazy paper trading day

farmerjohn1324 said:
I've already failed in trading from 2019-2022. Only started having success in August 2022 until the present.
More...

Many are called,few are chosen.

If you can start with 50 grand and not lose it all in 3 months then it may be worth pursuing.

If you can turn 50 grand into 200 in 6 months then you may have the Midas touch.

My advice is to start real money trading TODAY with 1 contract and for 3 months as proof of concept.

You have the luxury of scaleability once you prove you are chosen.5 contracts then 10 then 20.

Now...if you really want to make some money I would put 250 straight onto BTC*.Im kidding!,i'm kidding!Fred! Virt! I was actually kidding this time!!hahahaha:D:D

*BTC 120,ETH 80,LTC 50
 
semperfrosty said:
Many are called,few are chosen.

If you can start with 50 grand and not lose it all in 3 months then it may be worth pursuing.

If you can turn 50 grand into 200 in 6 months then you may have the Midas touch.

My advice is to start real money trading TODAY with 1 contract and for 3 months as proof of concept.

You have the luxury of scaleability once you prove you are chosen.5 contracts then 10 then 20.

Now...if you really want to make some money I would put 250 straight onto BTC*.Im kidding!,i'm kidding!Fred! Virt! I was actually kidding this time!!hahahaha:D:D

*BTC 120,ETH 80,LTC 50
More...

Proof of what concept? I'm telling you strategies will adapt and that any strategy now is extremely haphazard.

Now in relation to the original post, whether or not "swinging for the fences" on news release days can be a realistic strategy remains to be seen.... However one thing is for certain and that is that news release days must be taken in to account for any strategy.
 
farmerjohn1324 said:
Proof of what concept? I'm telling you strategies will adapt and that any strategy now is extremely haphazard.
More...
Hey Farmer, you're all over the place. You need some direction. Why don't you come up with a sound strategy first and then backtest it? Then take it out for a spin for a month or two and see how it performs? No need to get mired in all these "woulda, shoulda, coulda" after-the-fact BS.
 
schizo said:
Hey Farmer, you're all over the place. You need some direction. Why don't you come up with a sound strategy first and then backtest it? Then take it out for a spin for a month or two and see how it performs? No need to get mired in all these "woulda, shoulda, coulda" after-the-fact BS.
More...

I think I'd rather backtest a few first. This would first require the time to do that. But I also plan to not let a strategy run 24/5, I'd probably do different things during overnight hours, and different things around the news releases.
 
farmerjohn1324 said:
I think I'd rather backtest a few first. This would first require the time to do that. But I also plan to not let a strategy run 24/5, I'd probably do different things during overnight hours, and different things around the news releases.
More...
This is the problem that I see with you based on your writing. You don't have a clear direction and yet you've already done and achieved everything in your head. You seem like somebody with attention deficit problem, not being able to focus on any one thing for long. The number one essential trait needed for a profitable trader is FOCUS.
 
  • Like
Reactions: spy
schizo said:
This is the problem that I see with you based on your writing. You don't have a clear direction and yet you've already done and achieved everything in your head. You seem like somebody with attention deficit problem, not being able to focus on any one thing for long. The number one essential trait needed for a profitable trader is FOCUS.
More...

Yes, there are many options to consider and I'm not willing to risk considerable amounts of money until I have a better idea of what would work long-term.

I don't NEED to do this. But it would nice if something will work.
 
farmerjohn1324 said:
Yea but I probably would have quit after all the panic chasing. Funny that I actually already learned that lesson (not to chase up and down) on Schwab back when I did only 3 contracts. But I forgot it and got rusty.
More...

It's ok. It's not the same when you are trading. You can know everything about what you need to do and not to do but when you are actually under the psychological pressure when trading, it's very difficult to always adhere to what you've learned. Psychological stress plays a huge part in trading. Sometimes it works in your favour and allows you to salvage a bad trade but sometimes it works against you and makes you tp too early or chase. It happens to all of us. I am glad though that you treat your paper trading just like real trading and actually experience the same psychological pressure as in real trading. That will help you formulate better trading plans and really help you in real trading.

Good luck!
 
You must log in or register to reply here.
Back
Top