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Old 06-11-2007, 08:49 AM
MPBigley MPBigley is offline
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Re: Newbie Questions.....

I appreciate the comments and I should tell you that I have a trading plan and have designed the rules for the system. The first month was spent tweaking and adjusting every time it blew up. Basically, the last three months I have spent 'paper trading or sim trading' through my broker real time using the appropriate dollar amount I would be trading with live. I have focused on preserving capital, limiting losses, and following the system rules. I laughed when I read both of your posts regarding advice, because, at first I did everything you guys described. Over traded, breaking the rules in order to just participate, lol. Once I found I had worked out the technical bugs, and trusted that the probability for a profitible trade existed when buy signals were generated, the results improved significantly. It does take an extreme amount of discipline to keep your hands off until the market conditions generate a probable buy signal. It appears the only way to truly know if I have the ability, discipline, and mentality to do this is to do it. I'll 'paper trade' until the end of June, then start live in July. I will pick up that book you mentioned, it sounds like an informative read. Any information to help is appreciated. I appreciate the time you took to answer and look forward to hearing more also. Thanks, I really appreciate this forum, as it is the best resource I have found on the web related to day to day trading.

MPBigley

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