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Studying/paper trading

Discussion in 'Beginner's Lounge' started by NewOrder, Aug 2, 2011.

  1. NewOrder

    NewOrder

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    How long did you/ have you been studying and paper trading for? At what stage did you feel confident to start live trading?

    I have been studying on and off for a few years inbetween kids, moving country and the general stuff of life. My plan sees me doing a few more months of serious study then phasing more into more paper trading. I hope to go live by about Feb 2012.
     
  2. tech/a

    tech/a No Ordinary Duck

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    (1) Most of your concerns will disappear when you understand how to quantify and implement Risk mitigation into your trading.
    (2) All of your concerns will disappear when you have developed a fully tested method which returns a positive expectancy in all markets.

    Without (2) you cannot implement (1)
    Without (2) you are just expecting at best and hoping at worst that what you are doing will return a profit.
    To paper test a method rigorously would take 30 yrs as a minimum.

    In the process of finding (2) you will become aware of why a trading method is profitable.

    You THEN will be able to develop and trade in a discretionary manner.---if you wish
    To attempt to do so before understanding WHY your trading will be profitable will see you amongst the 97% who fail---sadly many who could "make it" are demoralised and financially defeated BEFORE they get to square one---errr (2)!!

    This is where your at now!!!


    Its worth the investment in the necessary tools and the time in becoming proficient.
    There are really no short cuts---although many will try!
     
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