Quote from azzzy:
For me this is a good (or rather fast) way to lose a couple of grand.
or you can put 500 hundred in a scottrade account if you don't want to use margin or short. maybe cheaper elsewhere.
if you have a plan, cut losses quickly, and let your winners run that shouldn't happen or it happen slowly. hey you can make some money too.
even if you did lose. try to learn from your mistakes and it will make you a better trader. losing is part of the game, you just have to have bigger winners than losers.
im guessing from your other post that you haven't traded live yet.
when you lose a couple grand in demo trading is there any pain involved or emotional highs or lows? i'm not saying using demo trading is useless but you will learn alot more if you trade live.
in demo it's not that intense. When your trade is in the red are you hoping the trade will comeback? or if it's in the black are you elated? in trading there is alot of emotions and psychology involved.
once you put your own money on the line your emotions are charged and hope and greed come into play. youll also be forced to learn discipline with the rules i mentioned above.
i'm still still dealing with those rules but getting better every time i place a trade. especially letting winners run, it can run way more than i expect quite a few times. i'm also trying to get better at having less emotions involved.
in this game your just really trading against yourself.
