Paper Trading Goals

[Turveyd]

Great job Turveyd,

I commend you for staying with your plan and not giving up. Once you get a method and discipline, you golden. That's how I think about it.

Once you have discipline, the market will reward

It takes a while, just got to stick at it and don't be afraid to start from scratch a few times.

10 years sounds like a long time, but it soon flies by, some months and years I've not made a single trade though, about 12months since I started taking it seriously and Jan this year when I started to see results.

 

[SimpleMeLike]

It takes a while, just got to stick at it and don't be afraid to start from scratch a few times.

10 years sounds like a long time, but it soon flies by, some months and years I've not made a single trade though, about 12months since I started taking it seriously and Jan this year when I started to see results.

I have been on it off and on for about 2 years. I work a full time job as well. But one thing I can say is that I really enjoy it. Time will get me better. I got time, just need to stay at it. Atleast I know that all the products out there want cut it.

 

[Turveyd]

I have been on it off and on for about 2 years. I work a full time job as well. But one thing I can say is that I really enjoy it. Time will get me better. I got time, just need to stay at it. Atleast I know that all the products out there want cut it.

Yeah I run a business, business / life is a pain, it pulls you away for a few weeks then you have to get back into it just about get there and get pulled away again.

Couple ( 4 ) envelopes on a chart, 2 would do and trade DAX and easy as eating pancakes.

It's annoying how simple the solution is after all these years to be honest, I coulda been rich many many years ago

 

[SimpleMeLike]

Yeah I run a business, business / life is a pain, it pulls you away for a few weeks then you have to get back into it just about get there and get pulled away again.

Couple ( 4 ) envelopes on a chart, 2 would do and trade DAX and easy as eating pancakes.

It's annoying how simple the solution is after all these years to be honest, I coulda been rich many many years ago

Great.

What do you mean a couple of enevelopes on the chart?

I hope one day it can be that simple for me. Its starting to unfold with more practice.

Atleast you made it and achieved a long time goal. I work full time and its hard to get trades in the morning without getting busy.

 

[Turveyd]

Great.

What do you mean a couple of enevelopes on the chart?

I hope one day it can be that simple for me. Its starting to unfold with more practice.

Atleast you made it and achieved a long time goal. I work full time and its hard to get trades in the morning without getting busy.

Haven't technically made it, till you've horde large sums of money away from the market, the market can be cruel and take it all back, just got to get sloppy, lose focus have a bad day and weeks / months of hard profits can be wiped away been there done that before!!

Option, $6000 account all puts so short, over night gap up dropped me to $70, if I'd of flipped long within a week I'm of had 100K

I'm currently trading off 3 Envelopes, check my journal out. fixed % price away from a SMA / EMA!!

Self employeed helps, I've pretty much had 3 weeks free to work on trading, work tomorrow though Ex is there to, never fun, uggggg!!

 

[HKVP9]

When should be my goals performance wise when paper trade?enever it arrives?

This is one of the most important questions a Trader should ask themselves. The answer is that no one can tell you what your own goals should look like!

What's important to you, might not be important to others. What you consider a worthy goal, might far too expensive for the blood of another. Your goals should be predicated upon your own personal needs and desires. So many people get caught-up in trying to keep-up with the Jones' that they forget to establish and account for their own needs, not as a Trader, but as a human being.

Mortgage payments?
Car or Lease payments?
College Loan payments?
Debt Burning Party?
More vacations each year?
A new aircraft purchase?
A new supercar purchase?
A new wardrobe?
Braces for the kids?
A new house for the spouse?
Contribute to building a new Church?
Starting a non-profit foundation that helps people?
Buying a new IWI Tavor and a new FNH FS2000?
Constructing a new $20 million headquarters for your NPO?

The list is endless and nobody can create such a list for you - but you. Your needs come from you, they will be unique and your trading goals should always reflect your own personal needs and requirements.

Sit down and figure out what you are trying to accomplish as a Trader and your goals will take care of themselves.

 

[butterfacetrader]

I don't even know why there is a debate here. Clearly in paper trading you are not risking real money and emotions don't play any role here. Like someone said, emotions are one of the biggest factor. And plus when there are no real risks you make stupid ridiculous bets that simply isn't prudent to the investor/trader/speculator interested in retaining wealth, rather than all about go big go home. I run a paper account that I restart periodically for fun and test methods. Often times I can rack up all my YTD gains in a week with a smaller account. But those trades are ridiculous that I would never do it in real life.