Paper trading. Usually u win more then lose. Cause you can look at things objectively, its not real money.

Real trading... emotion comes into play... always holding back for more profit, always holding back to cut loss, cause its REAL money.

So... if u can make 20% from paper trading... dont expect anything more then 10% in real trading...

Experience from Commodities trading.. not stock.. so it moves much faster..

I still don't agree.



This paper trading is not as simple as different view points.

Let me use my old sayings...

The stock market is like fighting a war.
Paper trading is like preparing yourself to fight the war.

Can you fight the war without preparing yourself?
Can you fight the war without knowing what's your fighting skill?




2nd para
No where have said that paper trading means you will sure win once you trade.
That's BS.
I agree.

3rd para........

How come you no ask me this?






I did more than 8 years.



smurfs

Excellent. You sure you know trader?

How exactly did you paper trade?

Care to share?

I do real trade 1st.

Before that I don't even know how to paper trade, or what is the objective of doing so. I used to think it is a completely waste of time.

I don't know

This post has been edited by Smurfs: Mar 20 2017, 02:49 PM

For commodities?

Not sure how relevant it would be for your slower moving equities market.

I think (or at least in my mind) you got say before. At least you mentioned years. I thought it was 3 or 5, but I wrong since you said 8. I should have written your post down on paper...

Not sure if you want to answer, never mind if you don't....

In the 8 years of your paper trading, do you have a rough percentage of wins vs loss? Like 50-50 or 70-30 etc?

How does that compare with your real trading after that? Is it about the same percentage? Or much better?

You see, I ask not because I want to know how much profit you make....

I can see how you are trying to guide newbies on to a track so that they don't lose money right at the start. I can appreciate that, believe it or not...

However, IMO, it is not much point just chanting a mantra unless you show the benefits. Or else newbies will not take it seriously. Your story about the girl who lost money initially is a good one that newbies can probably relate to or be aware of or be afraid of.

Why some people read books of other successful people is because they want to see if they can follow or emulate to also achieve success. But the book must have explanations of why and how in order for one to learn from it, or else it is just like another story book.

There is a difference between preaching and teaching...

Trading becoming philosophical...

Your point about the emotions part is a very good one. You do not get the true impact of how emotions come into play when doing paper trading alone.

and it doesnt get easier....

get burnt just waiting for that extra 20 points.... and after some 2 digit years of doing it... i still fall into the same trap..

Once you start talking stuff like 50-50 or 70-30 I know you have the concept of paper trading wrong, which is why I can understand your bias against it.

Look I am NOT talking about stocks like JAKS or the PUCs and DATAPREPs of todays.
Continuous paper trading such stocks for many years has zero value in my opinion.

For a trader..
Paper trading is used to discover ourselves.
To find out what kind of trading fits me best...
or perhaps I suck in all form of trading.

Take a double bottom or the \/\/
The proper method to trade it is to buy AFTER the second bottom is formed, right at the top of the right side of the W.

I then ask myself, is double bottom trading the best for me?

First thing first.
Like many, I always ask, why not right where the second bottom is formed?
If not, how about 2 or 3 bids above the 2nd bottom?
Why ask this?
Cos usually, there is quite a bit of meat between the bottom and the top.
For example, say... if the bottom is at 1.20 and the top is 1.35, me like many others, will surely ask why 1.35? Why not 1.20.

So best way to find out?
Real practice.
Find a real existing stock, paper trade it.
Test it out.
Try playing the 1.20 or the 1.24.
Then compare it versus 1.35.
And I do NOT test it on one SINGLE stock.
I test on many.
And I also make sure I mark it down if the market condition is bullish or bearish.

Result?
The 1.35 is always the better entry.

And in fact, I also test the difference of where the double bottom occurs.
Oh yeah, I am sure you are aware that double bottoms can happen in different trends.
ie. you can have a double bottom on a down trending stock and you can also have a double bottom in an uptrend.

The paper trading objective is to find out how best I can trade this.


Of course, the early days, my paper trading was simple...
RSI la...
change the time period la...
etc etc etc....

Hey, I can go on and on....

but I gotta ask you this....

is this your TYPE of paper trading?

or is your paper trading just paper trading on stocks like PUC and then once you hit a certain win percentage, you consider yourself a success and then you move on to real trading?

LOL!

You saying I got to show you my actual record before I start posting?

Hahahaha!!!!

I believe you know that I was trying so hard to pull your 'left one' longer...............






Seriously...
From your older posts...
I am pretty confident you are an above average investor.

In my previous posts, I have already said that I am not saying paper trading is no good.

My point was to ask after doing 8 years of paper trading, you should be having close to 100% wins with real trading after that. Except that one time, if I remember correctly, you said you lost some 3K or something on a trade - can't quite remember exactly. Such stats would thus help a newbie understand the value of it all.

Do you think if you tell a newbie to paper trade first for 5 or 8 years before doing a real trade, they are going to follow?

No, I wasn't asking for you actual trading profits etc.

Anyway, if anyone is interested here is an article about paper trading. As I say, there are normally two side to everything. Make sure you read the user comments at the bottom to get a wider view. One of the comments say what MeToo said in an earlier post here. People generally write articles to push their own viewpoint only. Does not mean there are no other correct viewpoints.

https://tinyurl.com/kgo8bp7

This is chat is not going anywhere real soon.

OK.

Got my WSS done.

All fresh now.

So where were we?

Ah... paper trading.

Look. Let's get it straight.

I have encouraged paper trading for a long time.

That's all.

It's not that I am forcing you or anyone to take this as my gospel.
Yes, everyone has different viewpoints.
That's needless to say and I find rather irritating that folks constantly throws that out the minute they see a conversation going on.
However, I am very strongly opinionated on paper trading.
And many times, I wonder, if the folks that are against paper trading, know what exactly paper trading is?
Paper trading is NOT buying any stock and continue buying any stock, and then hope to get a result.
These people, know nothing what paper trading is all about.

How many variations are there to trading?
Bottom up trading, Breakout trading, Trend trading, scalping, day trading, wave trading blah blah blah...
So many variations.
Are you gonna tell me that one can read a book or go to a forum and understand how to trade a breakout?
Where's the buy in point? What's the cut loss? etc etc....
Just go in trade and learn from whatever mistake you make?
That's ludicrous.
Downright.

And no I am not giving you any stats.
Yes, I made mistakes and made losses.
It's normal.
But I am not gonna to boast that I got something like a 600% gain on my portfolio since the last 5 years or something like that.
NO.
What?
You want this to be another toxic forum like i3?
Hey, my game stats shows I win xx% in a year.
I am top 10. blah blah blah...
and because MY track record is so good, whatever bullshit blog I write, that's the gospel truth.
NO.
That's not me.
If I disappoint you, I am not gonna apologize.

AND I am not selling any stat. either.
Paper trading is a suggestion for newbie.
You think the comments make sense, do paper trade.
And yes, I still do paper trade.

And just in case your forget...
Yes I shall NOT give anymore stock tip.

BTW do read that Livermore book.

AND please I have not in any 1 post suggest that paper trading would ensure you 100% win record.
That's utter crab.
I am not selling any snake oil.
Where and when did you see make such suggestion?

And btw...
Yes, I paper traded a long time.
I told Gark that before.
He knows.

That's me.

I ain't gonna to hide that fact.


Emotions.
LOL! I shall be polite and not reply on that.

Last and not least again....

YES ... everyone has different opinions.

It's just my opinion on paper trading is way toooooo strong.





Ok bo?

come....


your opinion I respect but you gotta respect mine too.







This post has been edited by Boon3: Mar 20 2017, 06:25 PM

Agree with both thumbs up

Yes, everyone should respect each other's opinions.

Not sure if I got what you mean, but let me clarify. I said:

Note the word "not" in there. So I wasn't asking Boon3 to tell his profits.

Anyway, never mind, don't want to toxicate this thread...

Your two big toes not in agreement?

Too bad then....

So tell me why one should not paper trade ?

Let me hear your own opinions.