How to speed up practise trading?

Domin8

Newbie
Hi there guys,
I have a paper trading account on trading view so I can practise but it is taking so long for my trades to play out. Is there anyway I can use my time more effectively so that I can learn faster? Thanks in advance.
 
S

Smith2525

Try scalping the 1min and 5min time frames if you want action and excitement.
To learn faster, spend more time reading into strategies and trial them.
 

trade2bpro

Active member
Try to practise all method as scalping, long-term trading, arbit, martingale, swap, cross trading,... at the same time and note all in a table.
 

taylorarnold

Junior member
I’m not sure it’s worth speeding it up, if it needs more time then take it as will benefit you in the long run
I agree! One should avoid rushing and diving into live trading hastily. Instead should take his time and practise enough till he starts making consistent profits.
 

WalletInvestor

Active member
Like others have said, trying shorter time frames can help, if you feel like you can handle it. It's also important to know your limits and manage your time wisely. However, there aren't any shortcuts really, so try to be patient with yourself and take as much time you need to learn.
 

vimal1

Junior member
You need to pick your timeframe first of all. This has to fit in with your lifestyle. No point trading 5min if you have a 9-5. Then you have to have a strategy/strategies to trade that timeframe. Then you have to backtest it and ensure you test the strategy under different market conditions over a reasonable period of time.

If you want to "fast forward", get an objective strategy and get it coded into MT4 or other platforms like Tradestation/Ninja. For the sake of £100-£200 for coding the strategy, it will save you alot of money trading it without backtesting and also alot of time doing the backtesting calculations yourself manually. You can lose many £000s just trading and then realise the strategy is flawed. Hope this makes sense!
 

vimal1

Junior member
If there’s one thing that practice is synonymous with then it’s hardwork. There’s no shortcut or quick way to practice. Whether you like it or not, you have to grind yourself. There’s a popular rule in outliers which states that a person needs 10,000 hours of intensive practice to master a skill and it’s true.
Yep this is true. Certainly immense hours of practise are required. I wouldn't even call it pain-staking. Its actually "rewarding" to find strategies that do not work. This is because it "saves you money" trading blind as it were. I love backtesting and happy to share/discuss the various techniques I have used over the past 20 years or so with anyone offline. Just PM me
 

sharonj

Junior member
You are probably asking about a shortcut that would help you.But I don't think any experienced trader would suggest this to you.Rather,you should take as much time as you need to get an understanding of the forex market.Also, you better don't forget that getting good resulton a demo account in no way means that you will get good results in the live market too.
 

Happy2trade

Junior member
You cannot speed up your practice. Just keep practicing and tuning til you are ready to go live, where you can actually afford the losses.
 
There is no benefit of speeding up your practice trading if you don’t understand what you are doing. Trading is a difficult job and you won’t get good at it with overnight practice. You will have to spend enough time understanding the basics so that you know what is happening in the market and how you can take advantage of that.
 

Jasonn

Junior member
Trading has no shortcuts. Moreover, practice is supposed to help you learn things and develop knowledge. Why worry about speed? Learn at your pace!
 

jonahelen527

Junior member
It's important to know that shortcuts lead to losses, especially when you have no idea about what you could have done. You better give the required time to your learning so that you are prepared for different situations that can come by.
 

Jasonn

Junior member
Whatever you are learning, keep implementing it on a demo account. It won't make your learning curve smaller but it's good for honing your skills. If you try to do it quickly, you will most probaby have to do it all over again, better take your time now.
 

BigRob

Junior member
Hi there guys,
I have a paper trading account on trading view so I can practise but it is taking so long for my trades to play out. Is there anyway I can use my time more effectively so that I can learn faster? Thanks in advance.
Paper trading is good - Don't cheat! Journal your trades. Have a plan and stick to it. Trade in multiples. You can liquidate a portion and hold the rest. Short term trading is a great way for beginners to lose their $ fast. But then again I've only been in the markets for 50 years...
 

andrewborund597

Junior member
You can prefer practising on a demo as much as you can. But I'd suggest not to overburden yourself as it may stagnate your mind and restrict your understanding.
 
 
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