Is paper trading pants?

turtle trader said:
So just take it for what it is, it really doesn't need a great debate. I don't think there's anyone who believes that it can genuinely replicate real trading, but it is important to see how your strategy performs in real time. Assuming you have a winning strategy then a period of paper trading can help you build your belief & trust in it, which may go some way towards dealing with the emotional aspects of real trading, but there will still be a long way to go.

There are many aspects to succesful trading, and each needs to be worked on. If you try to use paper trading to address all your psychological issues then your efforts will be doomed to failure. If you use it to test your strategy then it may well save you a lot of time & money.

So no, paper trading isn't pants, it just has to have the correct purpose. It can sort out your entries & exits .... then it's down to you to sort out your head.

Simon
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OK so we're all really singing off the same hymn sheet. Paper trading is pants if you let it be but it can be a useful tool. When I started trading I was instinctively against paper trading and accepted loss as part of the learning process. After a sticky patch and subsequently my experience with the demo last Summer I found myself going down new routes. Since then I've tuned in to my own rhythm and found a more successful trading style. I now draw real time charts, and have developed a midi player which plays price, volume, support and resistance.
How about a new thread entitled "Is Technical Analysis Pants?"
 
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I think paper trading is less valuable and far more time consuming than backtesting.
 
blackcab said:
Tell us more...
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Well it's simple really. I was getting chart fatigue and neck ache so we knocked up an app. in VB which plays GM sounds. Major chords for prices above the days pivot and minor below, but all diatonic as I find chromatic half steps tiresome on the ear. Now ranges have to be set for whatever instrument one is trading so the pitch doesn't go into bat territory when there is a spike up - however when we get over the next support the midi patch changes and all pitches revert back to middle C. Trading this way is visually I suppose a bit like three line break charts. This app has been tailored for me and probably would only suit those with perfect pitch (1 in 10,000 I believe)

However I'm currently working on producing a complete mixing/audio desk set-up, an Albelton Live for the Stock market.

How looney is that?!
 
oatman said:
Time to move on? :LOL:
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Please feel free. However if anybody is interested in further discussion about the correlations between music, fibonacci and trading then I would be happy to continue on a new thread.
 
rols said:
Please feel free. However if anybody is interested in further discussion about the correlations between music, fibonacci and trading then I would be happy to continue on a new thread.
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rols

Please do start a thread on this. I cannot contribute myself at present, because I am about to depart on the Easter break. However there are clear harmonies in all of them and it would be interesting to see some postings.

Charlton
 
Charlton said:
rols

Please do start a thread on this. I cannot contribute myself at present, because I am about to depart on the Easter break. However there are clear harmonies in all of them and it would be interesting to see some postings.

Charlton
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OK. Perhaps start something after Easter break.
 
I have always found paper trading to be a waste of time.

Without any real money at risk, you cannot possibly recreate a real trading situation, nor anything approximating to it.
 
Paper trading must have some benefits for a beginner. Once he has made a few trades, however, that's it. I can't see where anything new can be learned. Backtesting is quite different. There, he is lookjing at the statistical possibilies of a certain thing happening under certain conditions, depending on the idea that is in his head at the time.

Split
 
rols said:
Please feel free. However if anybody is interested in further discussion about the correlations between music, fibonacci and trading then I would be happy to continue on a new thread.
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rols,

I think you mis-understood. I believe Oatie's comment was directed to my rather dated taste in music rather than the subject/content of your thread.. :LOL:

Though not related in any way to what are sure to be your observations regarding Fibonacci relationships in music, I've found the Parsons Code somewhat useful in cataloguing historical market behaviour.
 
Is Paper Trading Pants ? is a very odd and untintellligble question, presumably set by a lunatic.

If the question were, " Is Paper Trading a pile of dog manure" ?, I would have to say, yes it most certainly is.
 
Chicken Curry said:
It is a very odd and untintellligble question, presumably set by a lunatic.

Excuse me, Mr. Untintellligble! Ever heard of irony? Calling yourself ChickenCurry is a strange kind of irony in itself.
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And finally...

rols said:
Chicken Curry said:
It is a very odd and untintellligble question, presumably set by a lunatic.

And furthermore. It's time you were downgraded to a Korma..

If you had taken the trouble to read the rest of the thread you would have discovered the term "pants" is a commonly used colloquialism used by the younger generation.

Finally. I'm pleased to observe my thread at least provoked some response. Cf
http://www.trade2win.com/boards/showthread.php?t=18415
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Is it any wonder why most people are trading failures judging by the quality of posts, especially on this thread ?????
 
Chicken Curry said:
Is it any wonder why most people are trading failures judging by the quality of posts, especially on this thread ?????
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I hear lack of attention to detail and jumping to conclusions are two reasons for "trading failures."

Chicken Curry said:
It is a very odd and untintellligble question, presumably set by a lunatic.
Click to expand...
 
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