Will start daytrading in one week

Originally posted by Lobster


Sure! The market will keep going down forever. Just hold onto your shorts. My calculations forecast YHOO at -400 and CSCO at -350 within 12 to 18 months! But wait, there's more...
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LOL! Now i know who those guys that were PRESSING NQ in the 800's are!
 
I recommend starting small also. You have a 50% chance the market will move against you and if the stakes are high it is easy to panic and make mistakes when real money is on the line. I started off paper trading and did well, but when I started using real money, I jumped in to fast and made mistakes I didn't do on paper. I relate it to playing basketball. When I'm practicing, I can make most of my shots, but in a real game I miss most of them.

Good luck
 
Trading minimum size, 1 lots or 100 shares is significantly better than paper trading; it keeps you from developing a number of bad habits that need to be broken latter. Don't try to make money, just scratch at first.

You will be months ahead ...
 
Originally posted by BobbyMurcerFan
What bad habits are you refering to? I didn't know paper trading can develop bad habits.
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The traits you develop thinking you would have been filled, or at an unrealistic price, that make you think you are a genius.

Liking starting over when you move to really money; why bother ...
 
That's why MyTrack dropped their contest awards on their paper money trading practice system. People were trying all kinds of crazy moves and when you have a large sample, it'll produce winners of an inordinate quality. Of course, what you don't see are all the similar wild plays that did what normally happens -- wiped out.
 
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