Should You Be Paper-Trading?

This is a discussion on Should You Be Paper-Trading? within the First Steps forums, part of the Reception category; Demo accounts are a step up from paper trading....

Reply
 
LinkBack Thread Tools Search this Thread
Old Jul 14, 2009, 12:41am   #8
 
7 Posts
Joined Apr 2009
Demo accounts are a step up from paper trading.
CookinFlatSix is offline   Reply With Quote
Old Jul 14, 2009, 5:58am   #9
Joined Mar 2009
Yes. Also a demo account may be used to try out ideas. I acutally switch over from live to sim regularly to try out setups. A good sim, btw., does not give you instant filles but statistical fills (I.e. a touch may not be filled for a limit order). In my case (ninja trader) I find the sim to be alittle more conservative than the market
NetTecture is offline   Reply With Quote
Old Jul 14, 2009, 9:33am   #10
 
A Dashing Blade's Avatar
Joined Jul 2004
Quote:
Originally Posted by TradeCamp View Post
. . . My personal take is that paper-trading eliminates a key element of trading success - EMOTION.

Unless you're trading with your own actual money you'll just be playing with a trading simulator, this isn't going to help your trading education.

What do the more experienced members of the forum think? I'd be interested to hear people's views.
Agree 100%. Any trading when you're starting out should be done with a meaningful amaount of money ie money you can comfortably afford to lose but would prefer not to.

Bottom line . . . 80% of trading revolves around emotional control, the need for this comes from the fact that you're playing with real money.
A Dashing Blade is offline   Reply With Quote
Old Jul 14, 2009, 9:46am   #11
Joined Jun 2009
Train hard Fight easy
tenbobtrader is offline   Reply With Quote
Old Jul 14, 2009, 10:03am   #12
Joined Jun 2009
think if you are emotionally stable and have approached trading from the start in responsible way, you do not intend trading scared money etc

its the same

many I think come unstuck when profitable on demo or with small stakes

move live / jump up in stakes

then they attempt the cherry pick there own method approach to make more out of trading opportunities than their method indicates is possible

demanding the market pays to order

miss miss miss miss !!!

emotion up ......... ! ###

THE END


huge value imho, you should have the discipline to return to it later if required

you have a benchmark to measure personal performance from
tenbobtrader is offline   Reply With Quote
Old Jul 14, 2009, 11:11am   #13
Joined Jul 2009
TradeCamp started this thread I don't personally have much regard for demo accounts either. How many traders here deposit 50k into their trading account to start with? Even if they can, the emotional difference between a fictional 50k and 50k of your children's inheritance is HUGE.
TradeCamp is offline   Reply With Quote
Old Jul 14, 2009, 11:17am   #14
Joined Jul 2009
TradeCamp started this thread
Quote:
Originally Posted by A Dashing Blade View Post
80% of trading revolves around emotional control, the need for this comes from the fact that you're playing with real money.
This is so key. In fact, this unlocks another secret of trading. People often ask why people who can teach you about the markets, don't just go and trade for themselves. Emotion is the answer, they may logically and rationally know what to do, but when their own money is on the line, their emotional approach sets them back.
TradeCamp is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Article: Paper Trading and the Transition to Real Money Trading T2W Bot Educational Resources 13 Oct 30, 2012 4:27pm
Paper trading? pkevl First Steps 8 Nov 18, 2008 2:54pm
Paper Trading swiss2004 First Steps 18 Jun 25, 2005 3:49pm
Paper Trading - Where can I? t2w1000 First Steps 8 Jul 14, 2004 11:20am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)