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From paper money to real money?

  #15 (permalink)

Detroit, MI
Trading Experience: Master
Platform: Sierra Chart
Favorite Futures: NQ, CL, ES, GC
Posts: 94 since Jul 2011
Thanks: 16 given, 122 received

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!

Well, I would not go live until you can prove to yourself you can be profitable in SIM. If your profitable in sim, cut your winners in half and keep all the losses, are you still profitable. SIM is very different than live. Do you have a method that you trade ? Is it written down ?, Is it consistently profitable ? Do you know what your win/loss ratio is ?, etc. There is a lot you need to have figured out before you go live....or you can be like most others and blow out a couple accounts while you learn...but it is not necessary as a rite of passage.

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