How much depth do you have to your strategy

[lawrence-lugar]

if you plan to use $10K trading, then sim trade with $10K til you make $10K, then go live
Then you will have all the evidence you need that you can make money trading

Or stay in sim til you make $XX,XXX money. Then you know the depth of your strategy

The first part of your advice is correct, SimpleMeLike -- but the second part is somewhat not as much.

Sim/studying the market/paper trading in your mind... is only a basic requirement to ensure your skill is viable.
Anything beyond that point...is Welcome to the School of Hard Knocks.
You can only basic train a soldier for so much...before he has to be thrown into the battlefield -- for better or worse.
Happy New Year 2018, SimpleMeLike.

 

[SimpleMeLike]

The first part of your advice is correct, SimpleMeLike -- but the second part is somewhat not as much.

Sim/studying the market/paper trading in your mind... is only a basic requirement to ensure your skill is viable.
Anything beyond that point...is Welcome to the School of Hard Knocks.
You can only basic train a soldier for so much...before he has to be thrown into the battlefield -- for better or worse.
Happy New Year 2018, SimpleMeLike.

Yes, I understand. But they way, I see it. If I can't make $10K in sim trading, then why should I risk my own $10K? But that's just me. I am very simple. Until I am a consistent profitable trader, I will stay in sim/paper and love every minute of it.

 

[Handle123]

Yes, I understand. But they way, I see it. If I can't make $10K in sim trading, then why should I risk my own $10K? But that's just me. I am very simple. Until I am a consistent profitable trader, I will stay in sim/paper and love every minute of it.

10k like way way too low. Some just making so little be like bait in Jaws. More like triple SIM account three separate times. Many think my back testing is extreme of one signal offers over 20k sample size , but more you know - better you can expect.

 

[SimpleMeLike]

10k like way way too low. Some just making so little be like bait in Jaws. More like triple SIM account three separate times. Many think my back testing is extreme of one signal offers over 20k sample size , but more you know - better you can expect.

Thank you Handle123,

I most certainly agree with you

 

[FXbeachbum]

I think he just doesn’t understand the technical terms. I’m getting at what OP is asking by depth how much of the trading is discretionary(feeling) vs systematic(rigid set of rules). And how sophisticated are the rules used, and what’s all involved with the rules how much time is invested. How much time is devoted to trading itself. All fair questions because the truth is there’s an infinite amount of ways to trade based on all the variables such as markets, time frames, different methods of analysis etc. Honestly it should be rule based as much as possible. But unless your fully automated discretion will always be there.

The truth is many people will have many years of reading, researching, studying, practickng and paying tuition to different areas of the market. What do I mean by different areas of study reading.l: TA(technical analysis) and all its variations including PA(price action), fundamental analysis, the different markets stocks, futures, options, FX. Systems (various methods of trading), psychology, exploring time frames. It will take multiple books and many videos and online resources to learn. In the end most of what you read will be rubbish anyways, but seems to get the good stuff a fair amount of rubbish must be sifted through. If you want to see what other retail investors are doing like others mentioned visit many forums, look at stock twits, baby pips etc. some info you can learn from some of those places but you’ll see how uneducated and impatient the typical retail trader is.

Even after all that learning and studying there’s no guarantee. Others have mentioned they’d been better off long term investing over aspiring to trade. I have to agree at 23 before you put a cent into trading set yourself up and start systematically investing in some funds/ETFs. You have the advantage of youth and compound interest. Don’t count on trading Set yourself up long term while you’re young first then with the extra after that possibly learn to trade or just put the extra in your long term too,
And be the guy that retires at 45.

In all honesty you’ll have to read dozens and dozens of books. If you live in a big metro area my guess is your library would be a good start finding books to read on trading if you don’t want to shell out huge amounts of money initially. Of course you’ll buy plenty of material too some good some not so good. I feel that if a book teaches you something it’s worth reading although many systems in the books will be crap. There’s decent videos online visit YouTube watch some, but some are crap too also beware a lot of online stuff given for free is a teaser to lure you into trading education scams so be diligent. Don’t get suckered into online scams promising to make you a trader. If you find good info on one market but it’s not what you want to trade don’t hesitate to watch the stuff a lot that applies to one market applies to others. I think there’s some forums on reading recommendations research those.

Just start searching and one thing will lead to another. If it’s meant to be you’ll keep pressing

 

[fordewind]

so If I find futures and trend following interesting (also the easiest to understand at the moment) then basically I form this into a strategy and ignore everything else?

That`s exactly how it`ll be.Moreover, your personal growth is only possible by doing stuff that grabs you.So better stick to what`s yours from the onset or the market turns you into a miserable lunatic.

 

[Jackpot]

I make multiple lines all over. If prices don't breach them and bounce off cleanly, I dub it one of the 'precise' stocks, and tend to trade those instead of imprecise things. For example:

is precise. However, this is not:

 

[fordewind]

Disagree.

The market does not accommodate/reward any trader's "interest", "growth", "intuition", or "gut feel".

The market is the final arbiter of price. Nothing else matters. Get a handle on that and you might succeed. If not, you won't.

i was talking about personal growth, not market rewards.To get market rewards you have to match with the market first("the final arbiter" is good), which could take the op decades, so i suggest the shortcut.But the shortcut via personal growth is only possible when you do YOUR things.

 

[Scataphagos]

i was talking about personal growth, not market rewards.To get market rewards you have to match with the market first("the final arbiter" is good), which could take the op decades, so i suggest the shortcut.But the shortcut via personal growth is only possible when you do YOUR things.

What does "personal growth" have to do with trading??

 

[fordewind]

What does "personal growth" have to do with trading??

I guess it`s how well you know yourself.