Paper trading 2 months - f/time or just evenings?

[Carlos Un-shackled]

Hi all,


Is it more important to build discipline for a few hours on a daily basis or should this be done full time?

 

[MajorMagnuM]

Hi all,


Is it more important to build discipline for a few hours on a daily basis or should this be done full time?

i believe building discipline is like being like a life long learner.
a few hours a day is a good amount of time

 

[AlexTagr]

It´s hard to stay focused and invest your valuable time if you´r trading with paper money. If you deposit real money, it gets a lot more interesting, you are not going to be able to stay away from the markets. At least that was the case for me

 

[DionysusToast]

Hi all,


Is it more important to build discipline for a few hours on a daily basis or should this be done full time?

Well, unless you are quite wealthy, you'll probably start off trading part time, so I'd say you should practise part time.

 

[tomorton]

However much you do, while you're doing it you'll wish to do less: and when you've finished it, you'll wish you'd done more.

I've got to to say more is better - but only to the point where you are able to work a strategy that is a consistent (not 100%) winner and which you have "lived in" under all conditions. Don't start trading until you know how to make money. Don't start flying a plane until you know how to land it.

 

[Jason Rogers]

Hi all,

Is it more important to build discipline for a few hours on a daily basis or should this be done full time?

Hi Carlos,

It depends on the type of trading you wish to do. It's possible to be a long term trader or to run automated strategies by investing a few hours into it a day.

How much time do you have to devote to trading?

 

[Obi-Wan]

Currently I'm trying to study as much as I can in my spare time. Still need to pay those bills...

 

[malaspina]

Hi,

AlexTagr is right. Trading with real money is a different ball game. It is the ultimate test for your to control your emotions.

 

[dbphoenix]

Hi all,


Is it more important to build discipline for a few hours on a daily basis or should this be done full time?

If you have no trading plan to be disciplined about, you're putting the cart before the horse. Develop your trading plan first, then sim trade it, then trade it for real in increments. If you don't trust it, you can't possibly be disciplined about following it. And if you can't be disciplined about following it, then it doesn't matter how many hours you put in.

As for the "full time" part, it depends on what you're trading and how long you can stay focused. If, for example, you're trading futures, there's not much point in trading for more than the first 90-120 minutes. If you trade this via replay set at 2x, you can easily do two days in one evening, three or four on weekends. Keep it up and you can go through an entire year in just a couple of months. By that time you will at least know whether or not (a) this is something you want to pursue and (b) you're good enough at it to make the pursuit worthwhile.

Db