just be aware, when trading sim there are 2 issues. 1)spread. things like equities options, which can have a wide spread, aren't very well simulated, in my experience anyways. 2) psychology. it's much easier to think clearly when there's no money on the line. i do read alot of posts which seem to say "i was doing well in sim, then because of ________, when i went live i lost money". imho, better to start off trading just 1 unit of something that has a decent spread. alot of crazy stuff happens in the actual market that doesn't happen in "sim" - crazy flash crashes, fake orders, hidden orders, etc. you cd combine sim and trading mini-position sizes - for example, you cd do live trading in the 1st half of the day then sim in the last hr. or some such plan. see how they compare before you build too many hopes up on your sim results.
also, imho again, sorry to be dear abby here, but yr long term plan shd be focussed on finding your own system. one little brownie recipe which makes really good brownies. it could be a pattern - flags, for example, or break of channel, or break of rising wedge...there are patterns, galore. or, it could be a type of catalyst - twitter excitement, fed meeting, biotech news, earnings...there are tons of types of catalysts. find out what catches your fancy, what interests you.
also, also, & probly others will disagree with me here, but every day, do 1 monetarily-insignificant trade you dislike. it's like in a yoga practice, you have to do one pose you hate every day. just push your limit. for example, i don't really like shorting, ironically, as i have made money shorting. but i have to force myself to do it.
also also also, super-important: track every single trade you make and analyze them at the end of the day.
(i know zero about anything other than trading stocks & their options - futures terrify me because they seem as far as i understand it, to incorporate leverage, and i am not consistent enough yet to trust myself with leverage.)
Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Last edited by Maisie; March 26th, 2012 at 10:21 AM.
Reason: forgot somethign
The following user says Thank You to Maisie for this post: