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#10 (permalink)
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Chicago, IL
Trading Experience: Intermediate
Platform: SierraChart
Favorite Futures: /ES /CL
Posts: 15 since Mar 2018
Thanks: 4 given,
20
received
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I will say that ultimately paper trading/sim trading is great for two things:
1. Learn your platform.
2. Master your strategy/method.
The two things above paper trading will help you out with, however, as many others have said you must trade your paper trading account as if you were trading a real account. Therefore if you start out with 1k you must manage your risk as if it were a 1k account (Regardless if your paper-trading account size is 100k or 500k for that matter). Otherwise paper-trading will not be of much help to you.
After a period of paper trading, I would say a couple of months and you prove to be profitable, only then I would go and start trading with real money. But remember and this has been mentioned thousands of times on here, you must treat your paper-trading account as if it were a real account, stick to your strategy and your money management plan(s), in other words trade your plan otherwise you will be setting yourself up for failure down the line when you go live.
-bofh
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