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*Simulated* Trader P/L 2007
- Thread starter NoEmotions
- Start date
DAY 7
Another good day. Total 5 points. No mistakes but I am getting a little bit more careless. Today was easy, but market usually does not go up and up and up. I must be more disciplined and concentrate more on trading. Here are the #
5 x $50 less 5RTx $5 = $225 less 40% taxes = $135 NET.
trading ES 1 contract for 1 point.
Another good day. Total 5 points. No mistakes but I am getting a little bit more careless. Today was easy, but market usually does not go up and up and up. I must be more disciplined and concentrate more on trading. Here are the #
5 x $50 less 5RTx $5 = $225 less 40% taxes = $135 NET.
trading ES 1 contract for 1 point.
Well it wasn't so good for me.
I held a large position overnight, not knowing that my resting stop orders would be canceled on reg. market close. This morning my account stood at -$10,000. So I had my broker bring my balance up to 5000 to start all over. My results and balances are therefore somewhat skewed.
Today +2825 less com.
I held a large position overnight, not knowing that my resting stop orders would be canceled on reg. market close. This morning my account stood at -$10,000. So I had my broker bring my balance up to 5000 to start all over. My results and balances are therefore somewhat skewed.
Today +2825 less com.
Quote from Marvin:
Well it wasn't so good for me.
I held a large position overnight, not knowing that my resting stop orders would be canceled on reg. market close. This morning my account stood at -$10,000. So I had my broker bring my balance up to 5000 to start all over. My results and balances are therefore somewhat skewed.
Today +2825 less com.
Ouch!
I that what happens on the real platform or is it just a simulator thing.
Yes, emini S&P.
One contract is tough as it doesn't allow for multiple targets. I trade 2-10, depending on my confidence in the strength of the setup.
This week, with my account in ruins, I got real reckless and traded up to 30. My overnight trade was 22.
Paper trading detractors claim that it's not effective because we react differently when there's real money on the line. But I say the feeling you get watching your balance drop $375/tick is the next best thing to experiencing real losses (or profits).
One contract is tough as it doesn't allow for multiple targets. I trade 2-10, depending on my confidence in the strength of the setup.
This week, with my account in ruins, I got real reckless and traded up to 30. My overnight trade was 22.
Paper trading detractors claim that it's not effective because we react differently when there's real money on the line. But I say the feeling you get watching your balance drop $375/tick is the next best thing to experiencing real losses (or profits).
Quote from Marvin:
Paper trading detractors claim that it's not effective because we react differently when there's real money on the line. But I say the feeling you get watching your balance drop $375/tick is the next best thing to experiencing real losses (or profits).
I am one of those detractors, to a point. I didn't find paper trading effective until it was treated properly - as if it were real.
Would you really be trading 30 contracts or holding 22 during a night session? If the answer is anything other than yes, you are fooling yourself to the effectiveness that paper trading can offer.
It will only do you any good if you trade as you would really trade. (10,000) and you call the broker and he fixes your account. No fear in that scenario.
Make 'em pretty, Chris
Quote from version77:
I realize NY has a state income tax but hopefully not high enough
to push your taxes up to the 40% level. Seems kind of high to me.
Federal, state, and city taxes will probablyamount to 40%. It is a ball park figure that helps me see how much $$$$ (more or less) will stay in my account.