Newbie Questions.....

[torero]

For me, paper trading is really to develop a performance results and evaluating them more than a simulation. In trading, this word "simulation" is an oxymoron since it doesn't really simulate the real trading due to factors not existent during demo trading. Real trading is the only way to go I agree.

[MPBigley]

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

[torero]

Let us know how it goes. Sometimes we were all in the same boat but different times and seems a waste of time not to tell someone about the experience. But then again, anyone can describe and persuade you until he's blue in the face until you realize you've just got on that boat too. Sweat, blood and tears (experience) are more valuable than gold in trading. I think you might be well on your way now that that part is over.... maybe (it'll creep back from time to time).

[MPBigley]

Will do torero, thanks for the posts. Capital is transferred today, we'll give it a Monday, July 2 start. I'll post a monthly update at the end of July. Best wishes to all of you.

MPBigley

[james_gsx]

Good luck, just remember you're not trading equities you're trading other traders