Dang, I'm A Great Paper Trader

jodistrict said:
When you get up to 5 minis, then you could switch to futures YM or NQ which is the same size ($5 per tick).
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One small quibble here. YM and NQ move at different rates to something like ES or 6E so it's not exactly the same. :-)
 
Arnie Guitar said:
No, I know it's not real.
I take huge one sided positions, no balance... Absotutely fearless.
Always bull put credit spreads, WAY out of the money... Haven't lost yet.
Karen Supertrader's kinda stuff.

My real account? Big chicken..,

It's gotta be because it ain't my money, real money, that's all I can figure.
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Sim is only good to learn the trading platform, actual trading experience is down to real trading, not simulated, as it is counterproductive. You wouldn't attempt getting into a boxing ring playing Nintendo games.
 
Thanks everyone, very interesting replies.
I'm obviously nothing like Karen S, but like her, I only trade S&P 500 options.
It is funny to me how I'll sweat most trades in my real account, and be so cavalier with my paper account...Let 'er rip, tater chip.
I trade the weeklies, in my paper account I usually make one trade a week...one big position usually for half the portfolio!
My real account? Usually one position, no more than 10% of the portfolio, sometimes I'll roll up to two if things are right. This week was rare, three positions, two put positions and a call with that big pop on Wednesday.
Watching the YouTube videos of Karen's TastyTrade interviews inspired me to swing for the fences in my paper account, but there's no way I'd have the stones to do it in my real account...just base hits, small ball.
One thing I am doing after watching her videos is going farther out. I've focused on weeklies since they came out, but am going farther out now in conjunction with weeklies, so I guess I am stretching out a little. Even though I've been at this a while, I'm still "walking" in my real account, but "running" in my paper account.
Maybe I should leave well enough alone.
Thanks again everyone, for the perspective.
Arnie
 
Arnie Guitar said:
... Sure wish I could do the same in my real account.
I do ok, but I'm killing it in my paper account.
Same strategies...
Oh well...
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The main problem of the paper trading - it allows you to lie to yourself, while market does not allow it.

So while testing the strategies on paper, trader should also be practicing catching his own lies. With practice you can almost eliminate your own lying to yourself, anticipate it, therefore bringing the paper trading experience much close to the real one.
 
'Flying' a simulated plain will never be the same as flying the real thing due to pshlychological factor rather than quality of simulator.
 
Arnie Guitar said:
Thanks everyone, very interesting replies.
I'm obviously nothing like Karen S, but like her, I only trade S&P 500 options.
It is funny to me how I'll sweat most trades in my real account, and be so cavalier with my paper account...Let 'er rip, tater chip.
I trade the weeklies, in my paper account I usually make one trade a week...one big position usually for half the portfolio!
My real account? Usually one position, no more than 10% of the portfolio, sometimes I'll roll up to two if things are right. This week was rare, three positions, two put positions and a call with that big pop on Wednesday.
Watching the YouTube videos of Karen's TastyTrade interviews inspired me to swing for the fences in my paper account, but there's no way I'd have the stones to do it in my real account...just base hits, small ball.
One thing I am doing after watching her videos is going farther out. I've focused on weeklies since they came out, but am going farther out now in conjunction with weeklies, so I guess I am stretching out a little. Even though I've been at this a while, I'm still "walking" in my real account, but "running" in my paper account.
Maybe I should leave well enough alone.
Thanks again everyone, for the perspective.
Arnie
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I wish you success Sir

It one hellofa journey - but worth it

RN
 
Arnie Guitar said:
No, I know it's not real.
I take huge one sided positions, no balance... Absotutely fearless.
Always bull put credit spreads, WAY out of the money... Haven't lost yet.
Karen Supertrader's kinda stuff.

My real account? Big chicken..,

It's gotta be because it ain't my money, real money, that's all I can figure.
More...


That's a good thing that you aren't doing in your real account that dumb shit you're doing in your paper account. Trading Karen Supertrader style only leads to one place, bankruptcy.

You know, there's a reason it's called 2 standard deviations. Because IT DOES HAPPEN. If it never happened, it wouldn't be called 2 standard deviations would it? It would be called an impossible deviation.


Traders who think they are safe because they trade 2 SD out, are just picking up pennies in front of the steam roller. One day, maybe in a year, maybe in 10 years, you'll see why trading 2 SD out thinking your safe is a fools game.

It works for a while, maybe a long while, but eventually it gets you because as I said, THEY DO HAPPEN.
 
My guess is that you are risking too much. I am trading futures but only trade one contract with money I don't care about. Take the fear out of your game.
 
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