[Cory2679]

It's too bad there aren't smaller crude oil lots like with spot Forex (ie $0.10/tick, $1/tick)...I would think that starting out that small would make the transition from SIM to live easier...

[Dinerotrader]

Originally Posted by Cory2679 »

It's too bad there aren't smaller crude oil lots like with spot Forex (ie $0.10/tick, $1/tick)...I would think that starting out that small would make the transition from SIM to live easier...

That would be nice. I think that same thing all the time.

[momop]

Originally Posted by Dinerotrader »

Real
-$544





Well, I feel like a failure but oh well. Gotta keep working at it. I'll be going back to SIM now to see if I can fix a few problems I ran into. During these past 3 days of live trading I saw some issues that still need work.

Sorry to see your losses, but hang in there Dinero. Can you backtest with sim for those loss days and see if the entries/exit were same ? May be some emotional element caught you while being live.

[Gabe2004]

Originally Posted by Dinerotrader »

That would be nice. I think that same thing all the time.

USO trades almost 1:1 relative to CL and 1 CL = 2000 USO.

Could you post a chart or two with your entries and exits?

Gabe

[enochbenjamin]

I know nobody wants my opinion, but here goes.

SIM trading cannot duplicate the emotions that arise from within when real money is on the line. With SIM trades I can set a target of $1 and watch it get 80¢ and retrace back down to 20¢ before hitting my target of 100¢. Now for real life - no way I'm watching 60¢ of profits disappear. Its just not the same.

If we had a SIM contest I'm certain I can trade circles around just about anybody. But in the real world I am just a below average trader who barely eeks out a profit. But I take my lumps with real money because I sincerely believe that is the cost of tuition for this profession. I will never learn how to control my emotions SIM trading - I will only get that feeling when the rent money is on the line!

Growing up I was the Monopoly king in my family. I would always have houses hotels everywhere and the fam would always say your going to be a landlord one day. Well that day came and I can tell you while the concept is there Monopoly does nothing to prepare you for collecting rent from real people struggling to get by. There is no book you can read that can explain the mixed feelings you have evicting a single mom with young kids. The only way to know how it feels is to go to court and experience it.

I'm not saying that SIM trading doesn't have its merits - all I'm saying is that SIM trading will not allow you to experience the anxiety of risking your hard earned money. There is nothing that can mimic the experience of losing.

just my 2¢'s worth.

Side note: I mainly trade CL because the volatility usually provides many opportunities daily. But after a losing streak I switch over to 6B because it has similar volatility but with a lower risk/tick ($6.25/tick). Once I get my confidence back with 6B - I earn the right to trade CL again. I've tried to do the same with QM but 6B seems to work better for me. Maybe others might consider trading something (YM?) with less risk until you feel confident to trade CL.

Just food for thought.

[momop]

My Sim results
-----------
-9
5
8
29
-27
-22
-95
-66
--------------
Net Profit = -177$

Problem was I went all short and market reversed and took my stops. Note to self: Need to get my long plays going. Still working on my long signals.

[bathrobe]

Originally Posted by enochbenjamin »

I know nobody wants my opinion, but here goes.

SIM trading cannot duplicate the emotions that arise from within when real money is on the line. With SIM trades I can set a target of $1 and watch it get 80¢ and retrace back down to 20¢ before hitting my target of 100¢. Now for real life - no way I'm watching 60¢ of profits disappear. Its just not the same.

If we had a SIM contest I'm certain I can trade circles around just about anybody. But in the real world I am just a below average trader who barely eeks out a profit. But I take my lumps with real money because I sincerely believe that is the cost of tuition for this profession. I will never learn how to control my emotions SIM trading - I will only get that feeling when the rent money is on the line!

Growing up I was the Monopoly king in my family. I would always have houses hotels everywhere and the fam would always say your going to be a landlord one day. Well that day came and I can tell you while the concept is there Monopoly does nothing to prepare you for collecting rent from real people struggling to get by. There is no book you can read that can explain the mixed feelings you have evicting a single mom with young kids. The only way to know how it feels is to go to court and experience it.

I'm not saying that SIM trading doesn't have its merits - all I'm saying is that SIM trading will not allow you to experience the anxiety of risking your hard earned money. There is nothing that can mimic the experience of losing.

just my 2¢'s worth.

Side note: I mainly trade CL because the volatility usually provides many opportunities daily. But after a losing streak I switch over to 6B because it has similar volatility but with a lower risk/tick ($6.25/tick). Once I get my confidence back with 6B - I earn the right to trade CL again. I've tried to do the same with QM but 6B seems to work better for me. Maybe others might consider trading something (YM?) with less risk until you feel confident to trade CL.

Just food for thought.

I completely agree with your assessment. I lost my fair share of real money when I started. The whole time I could successfully trade on sim. I remember when I felt that I had come into my own as a trader, my account was around 5k and I was down $1,500 on the day but the last trade was executed perfectly and it had all the pressure of making my account go down to 3k from 5k in one day. I do not remember what the last trade made (not that much) but I told my dad that I was now at ease with my trading and had confidence in my entries/exits and losses from that point on I was fine with if I had stayed within my plan/rules.

I know this last part will not be a popular statement and I am not at all saying this pertains to anyone here because everyone who posts has solid reasons to take a trade but I have wondered if sim exists to lure people into trading fake money so when they start with real cash thinking they were born with a gift they will no doubt over trade (making broker $) and lose.

[Kiwi]

I don't think so Bathrobe. Far more people come off the sim too fast (or never go on) and chew away their money. Lots of people don't sim at all (too boring, what's the point, etc etc).

To me, the purposes of a sim are:
- to prove that what you see in hindsight is still there in real time
- to forward test a backtest
- to learn some elements of what is needed to trade your plan.

It doesn't have to duplicate real emotions, test yourself under monetary pressure etc etc to be a useful tool.

I trade real money but I still sim things before I run them with cash. So currently I'm trading indexes (well, I've stopped for Easter) but I'm sim trading longer term Forex. Because the forex trades are infrequent, depending on the number of unexpected results the forex will go live in anywhere from two weeks to two months.