Paper Trading: Log your results!

[beamstas]

Well, people here go on about TA. What am i supposed to do? Rub a crystal ball?

Usually i just trade with instinct, around support and resistance, but thought that i should use some TA.

I don't know, i give up... (not on trading, but on trying to change my style).

By the way, to the person who said "keep using sim", i have gone well beyond sim. I am using sim for the SPI. I think i'll go alright, just got to get my stops into place. I have already made 3k+ doing trades i would have done in real life, and am confident i can do more. It's just a matter of waiting for the right conditions.

Don't give up

There are two people who have been instrumental in my progress as a trader - from listening to them and taking in what they say
Tech/a is one of those two people

There is always much to learn

Everyone in this thread is trying to help you (admittedly some more than others)

My advice

Don't give up
You will get there!

No need for a crystal ball!!

No one can trade at 100% win rate

You don't even need to trade at 50% win rate

Just let those profits run

Brad

 

[nunthewiser]

Don't give up

There are two people who have been instrumental in my progress as a trader - from learning and taking in what they say

thanks m8

 

[tech/a]

thanks m8

You crack me up!

 

[Aussiest]

Don't give up

There are two people who have been instrumental in my progress as a trader - from listening to them and taking in what they say
Tech/a is one of those two people

There is always much to learn

Everyone in this thread is trying to help you (admittedly some more than others)

My advice

Don't give up
You will get there!

No need for a crystal ball!!

No one can trade at 100% win rate

You don't even need to trade at 50% win rate

Just let those profits run

Brad

Thanks Brad. You are right. I have logged a lot of what has been said in this thread and am going to study it over the next few days (memorise, absorb, see what fits).

I really do appreciate most of what has been said to me here and i really do appreciate when people help! I guess it was a bit of information overload.

Probably time for me to watch some mindless American sitcom and take my mind off it

I read and listen to what Tech/a says, and Trembling Hand.

And, i thank you too for your contribution to this thread.

 

[James Austin]

I don't know, i give up...

By the way, to the person who said "keep using sim", i have gone well beyond sim. I am using sim for the SPI. I think i'll go alright, just got to get my stops into place. I have already made 3k+ doing trades i would have done in real life, and am confident i can do more. It's just a matter of waiting for the right conditions.

sorry aussie, that didnt come out well.
however there is nothing wrong with being on sim until you are consistently profitable, week after week, month after month or year after year if need be.

if you can do this, then you've got yourself the makings of a robust trading plan as well as aptitude.

side note: may i also suggest an IG account as a sim account. it is different to the traditional sim in that you will get "real account" prices; simply dont fund the account, execute orders as in real live trading, IG simply rejects the trade due to lack of funds, but the trade will be logged in your activities.

i am presently using this as i test and develop a SPI system i am working on.

to be continued . . . .

 

[tech/a]

Here is the overload of information.

Youve taken a Short SPI trade with a target of around 3200
You have your Stop at break even.

Enjoy the sitcom

 

[Aussiest]

Here is the overload of information.

Youve taken a Short SPI trade with a target of around 3200
You have your Stop at break even.

Enjoy the sitcom

Okay, .

Thanks James.

 

[ThingyMajiggy]

What are you using to paper trade? Are you using some kind of demo account, I am interested in having a go, but can't seem to find anyone with a decent demo account, might be better off just watching it and writing my ideas down.

Keep up the good work, tech and TH are definitely worth listening to

 

[beamstas]

Here is the overload of information.

Youve taken a Short SPI trade with a target of around 3200
You have your Stop at break even.

Enjoy the sitcom

Exactly

He is aiming for 3200
In my humble opinion - it may take two weeks or longer to reach this

Aussiest, work out which time frame you are trading first!

If you are investing for 15 years a 1 minute chart is no use to you
If you are day trading on a 1 minute chart a 15 year chart is of no use to you

Same goes here
Don't worry about what happens on the small time frame - intra day and day to day. A trend is rarely a swan dive down or a straight impulsive move up (can happen though)

The price will most likely move against you at some stage during the two weeks

Now that you are armed with this knowledge - you won't be so easily shaken out with a small move up

Because we are looking at the bigger picture

Hope this makes some kind of sence

Brad

 

[Aussiest]

What are you using to paper trade? Are you using some kind of demo account, I am interested in having a go, but can't seem to find anyone with a decent demo account

I'm using IG as my demo account...

Trembling Hand and tech/a: as i said before, i appreciate every bit of advice / help they can give me, no matter how harsh it seems sometimes :grinsking

 

[tech/a]

There are a few here who wonder what T/H and I look like.
So here is a pik taken reciently.
I'm the tall one.

 

[MRC & Co]

There are a few here who wonder what T/H and I look like.
So here is a pik taken reciently.
I'm the tall one.

Is that at the weigh-in?

 

[tech/a]

Is that at the weigh-in?

Acadamy awards after party.
Ive mislaid my hand bag and T/H is breaking out the ICE.

 

[beamstas]

There are a few here who wonder what T/H and I look like.
So here is a pik taken reciently.
I'm the tall one.

The height difference is really pronuounced in this happy snap

 

[James Austin]

The height difference is really pronuounced in this happy snap

i was wondering what the hands were doing in techs photo

 

[Wysiwyg]

There are a few here who wonder what T/H and I look like.
So here is a pik taken reciently.
I'm the tall one.

Hmmm, that is interesting, I completely mistook you guys for egg-heads.

 

[Trembling Hand]

There are a few here who wonder what T/H and I look like.
So here is a pik taken reciently.
I'm the tall one.

To be fair this is the one that hasn't been photoshopped.

 

[nunthewiser]

cmon now , u boys are being really silly , we all know that tech/a and trembling hand are one and the same person

 

[skc]

I was pretty sure this is TH...

The trembling hand, prior career in sports... the clues are all there people.

Not sure about tech/a. I have not researched any cartoon characters from Adelaide.

 

[nomore4s]

Aussiest,

Stick with it mate. It's a long and hard journey sometimes but all the successful traders have done it tough at some stage, especially while learning.

From reading this thread it appears to me you are still a bit unsure about how you can best go about trading, chopping and changing, trying every new thing that you find but not being consistant at any of them - this is a stage I also went through until I realised what worked for me.

I would suggest just sitting down and working a few things out - like TH said know where you are going.

What markets are you going to trade?
What timeframe are you going to trade those markets in?
Are you going to use FA, TA, a mixture of both, tea leaves or some other form of analysis?
Will this analysis suit your market & timeframe? Will it provide profitable opportunities?
Establish entry & exit rules. Have a plan.
Employ good money & trade management.
Is this system/method profitable in the market and timeframe you wish to trade?
And as TH says practice & review constantly but be consistant in what you do.

There are plenty of people on this site that will help you. Good luck