I'm the developer of a paper trading simulation which I call Rogue Trader.
As a Self Managed Super Fundie, I paper traded with a group of like minded people during the education phase and developed my own charting application to do the job. The others encouraged me to continue developing the application and I did, eventually taking it on the road to stock market expos in Melbourne , Brisbane and Sydney last year. The experience was eye opening and very revealing. In fact it shocked me to learn what predatory practices go on out there, but I digress.
I continue to develop software mainly for fun and the challenge. The challenge of writing software complements the challenge of running the super fund (I am not a software developer by profession, in fact I am a doctor - I write much of the software used in my own practice too) .
Enough of an intro.
Experience relative to success
What makes a great trader? Experience, discipline, insight and money management rules yada yada. You've heard it all before no doubt.
How do we reach that stage without getting toasted. PRACTICE.
Thats essentially why I believe paper trading is important. Obviously it is not the whole story, but a basis and foundation for entry in to trading. I dont think it matters whether you are a fundamentalist, technical guru or discretionary king, practice is vital.
Great traders dont start off as great traders. Most of the self proclaimed 'great' traders I've met have probably just been lucky to survive their first few years of clueless trading and then they do something that distinguishes themselves from the mob. They adjust their mindset and develop a serious approach to money management with fairly strict rules. Their experience of the market and insight, gained through perserverence, gives them an edge.
I dont have magic answers or a true trading edge. I make no special claims in this regard. I am happy to get ~20% return PA(may be better next year, yada yada). My goal was to beat HESTA (health industry super fund -- returned 16% 2006-2007) otherwise why would it be worthwhile setting up a SMSF. Time invested in trading has an inverse yield curve on other aspects of your life I have found. Again I digress.
I would like to get people with experience in trading to try the app and help me focus development on a set of features that would facilitate development of various trading styles. Quite frankly, I need motivation to overcome the next hurdle and make the application more than just pretty charts and running portfolio summary. Any help/guidance would be appreciated.
I have a week off later this month to give it another go.
Nothing is impossible.
And no this is not just a plug for rogue trader.
head to www.rtrader.com.au, register, install then send me an email to firstname.lastname@example.org and I will upgrade you to full status user. All I ask is that at some stage you send ideas on user requirements, user interface enhancements, usablilty, scanning enhancements, charting features, portfolio management rule implementation and guidance or anything else that pops into your head.
Compare the application to what you are used to using and let me know what you think, good or bad.
Have fun with it.
Unfortunately I have not yet made good my promise to create training videos, but I will if people recommend doing so.