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I just read your trading journal, You are only one step ahead of me. How much time did you spend in SIM before you started trading live?
You have to take your sim experience seriously: I ahve been in sim for 5weeks, every single day making very extensive notes on every single trade
I adjusted my SIM account from 50,000 to a realistic $2900.00
I trade using the same system I did with stocks
I pretended it was for real....when I made a bad trade, I was disappointed
I even deducted commissions fees from every trade.
When you are in the armed forces, you practice manouvers with the Miles Laser System (kinda like laser tag but on real M16s)....but you dont goof around, you pretend you are on an actual mission - even though there are no bullets. Everything has to replicated as if it were real life.
if I fukked up in SIM, I would NEVER trade for real (as greedy as I am).
Can you help answer these questions from other members on NexusFi?
i assumed that you were consistantly profitable in sim.
I don't trade ES. I trade CL and YM.
I trade mostly in SIM as I try to fine tune my strategy and plan. I do take live trades when I see a setup that I really feel confident about--and for me that means scalping within ranges and channels. 3-4-5 ticks and the occasional runner. Around 11:30 AM NY CL tends to slow down and form nice patterns that fall into my sweet spot for trading I and can often reel off 10-15 consecutive small winners.
I was a little like you at first--did a little sim and then jumped right into ES--got creamed and now I take a much more professional and realistic approach. One of my weaknesses is overtrading --at least in SIM.
I do bad in volatile markets--stops can get spiked out in the blink of an eye--and my risk tolerance doesn't allow for big stops.
My stats very clearly show that I do better ( in fact profitable) in premarket and the times between NY 11:30 AM --1:00 PM--i stop after that anyway cause thats 1:00 AM in my timezone.
But I am in no hurry to go live again full time --I will practice and fine tune and learn, learn, learn, same charts-same indicators-day in and day out-- testing a few indicators--blah blah--- and I will conquer
edited--when i say i will conquer--not the markets--but myself
....and while learning by reading/video can be helpful in some ways, ultimately that won't create success. I'm not sure why I'm even posting about this but good luck with the trading budfox.