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From paper money to real money?

  #12 (permalink)

North Carolina
Trading Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
Posts: 644 since Nov 2011

@Calming You can open a real money account and just trade in the simulator. There is a trade off between how long you trade on the simulator vs. going live. The trade off is due to the fact that the market changes and because even while simulated trading can be very accurate if done correctly, there is still information you cannot gain in the simulator, that you can gain from live trading. The trade off is largely a function of the cost to trade and the accuracy of the simulation vs. the live trading. Futures are highly leveraged with high costs for making mistakes. If the cost to trade live were less then there would be less reason to trade in the simulator. You should only trade with money you can afford to lose but you should, of course, strive not to lose.

Instead of focusing on becoming a professional: identify your strengths, resources, and capabilities. Define specifically what you will do, define ways to evaluate your progress, and work toward those specific goals. Achieve enough success at that whole process and you will be more likely to just end up as a professional.

Calming View Post
How long did it take you to switch from trading paper money to trading real money? Some say that one should trade paper for at least three months. Most brokers (systems) limit demo to two weeks. There is a possibility to continue but how long will they allow one to keep doing so?

One also hears that it takes 9 years to become a professional trader and that every pro lost an initial deposit at least once, so it makes sense to trade with an amount that one is okay to lose. Thoughts, ideas, suggestions, and philosophies are all welcome!

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