A loss of nearly $500 was seen before I turned in at around 2pm EST.
Closed positions. Haven't the chance to study the charts. Will be with Al at clinic for the whole day today.
1 comment:
Common Sense
said...
i'm sure people have told you that FAKE money is 100% different than trading real. Remember, if your expenses are 2k a month for rent and food, you really need a trading account of about 50k. If not, your profits will have to be extra-ordinary -- which is why futures traders take crazy risk, leverage, and usually blow up. You need 2 winning days every 3 to make it. You cannot have more than 1 really bad day every 2 months. I made 10k a day on FAKE money, it's soo unrealistic that it's 100% useless. You'll see. Fake money, right now i'm short 100 contracts. If i get stopped out I will buy 200 contracts, and it's all dumb.
Try to fund an account and trade 1 contract and then see how it is with real emotions at work. If you take too long, trade too quick, execute wrong, overtrade, anything...ur emotions change and it's drastic. I've been trading for 15 years, trust me, I have a clue. I just think paper trading really builds horrible habits. My 2 cents.
1 comment:
i'm sure people have told you that FAKE money is 100% different than trading real. Remember, if your expenses are 2k a month for rent and food, you really need a trading account of about 50k. If not, your profits will have to be extra-ordinary -- which is why futures traders take crazy risk, leverage, and usually blow up. You need 2 winning days every 3 to make it. You cannot have more than 1 really bad day every 2 months. I made 10k a day on FAKE money, it's soo unrealistic that it's 100% useless. You'll see. Fake money, right now i'm short 100 contracts. If i get stopped out I will buy 200 contracts, and it's all dumb.
Try to fund an account and trade 1 contract and then see how it is with real emotions at work. If you take too long, trade too quick, execute wrong, overtrade, anything...ur emotions change and it's drastic. I've been trading for 15 years, trust me, I have a clue. I just think paper trading really builds horrible habits. My 2 cents.
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