Noob needs experienced traders to comment on my recent successes

Quote from NoDoji:

Experienced trader's comment:

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You could still hurt yourself falling off the balance beam.

I think tight roping the floor is more accurate.
 
"Noob needs experienced traders to comment on my recent successes"

And you present your question on ET?

That is like the blind leading the blind.... lol
 
Quote from Av8rdan:

PKTS, TY for real comments, they are quite helpful. I really want to find a way to get onto a system where I can trade in exactly the same way I would in real world, in terms of speed, executions, fill prices etc. So far, nothing but zeroes. So how does a rookie trader get started...open an eTrade account and make tiny trades with T-3 settlement and Reg T rules? Sounds boring, slow and far more risky. I would hate to hold anything for more than an hour tops...more time held = more exposure for risk.
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This comment here is exactly the reason why paper money is nothing like real trading. The psychological aspects of trading. You just said, "sounds boring and slow"" . So what happens when you start with real capital thats not as much as paper trading account. Then you get very impatient because you do not feel satisfied with your gains, so your jumping in more trying to make your time worthwhile. Your account my be increasing at the same rate percentage wise, but not in dollar terms, so even if you made 10 percent and that 10 percent amounts to 5000 in paper account, but then in your real account, 10 percent amounts to 100$ so what will you do then. Will you feel satisfied, or will you look to keep trying to get more. So it is always important to demo/paper trade with the amount you will start live with. Do it that way and its a bit more realistic and you will get a lot more out of it. Just my two cents. Later
 
Quote from Av8rdan:



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Sounds like you're trading on a delayed platform, correct me if I'm wrong. On a delayed platform if you go long a stock while it's going up, you're basically already in the money before you make the trade.

A friend of mine a while back opened an investopedia game in which he made fill times 0 seconds, so it would be more "realistic". The problem is the game ITSELF is delayed 20 minutes. So, by getting filled in "real-time" you're actually getting filled 20 minutes earlier. It's like you can see the future. He thought he was a god damn genius and master of the markets on day 1, until he realized it's all delayed.

I could make a million dollars per minute if I could see the future. Those results are completely unrealistic even amongst the experienced. From what I understand, you're not supposed to intraday trade on those games.

My recommendation is to download the thinkorswim platform and a papertrading account if you want real-time papertrading.

Everyone will tell you papertrading is nothing like real trading. For once, the herd is right on that one. Trade paper for a year and figure out your style by learning from others. And for the record, you'll never be "ready" for real trading. EVERYONE pays their tuition.

My 2 cents.
 
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