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From paper money to real money?

  #37 (permalink)

Chicago, IL
 
 
Posts: 29 since Mar 2011
Thanks: 7 given, 6 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!

I just recently got back into trading. But I seriously paper traded for a good month before I started trading again. People who paper trade for a more than 6 months, I believe will never pull the trigger to trade live. For some reason those people are too scared. But definitely if you're a beginner, take your time to build a strategy. Trade that strategy for a good month or two, and if it works test it in a live account. I believe you learn the most in these markets when trading live.

To your question as of becoming a pro trader.....I think it's BS. No one really is a "PRO" trader. You're constantly learning and the markets are constantly changing.

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