SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : DAYTRADING Fundamentals
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Dominick who wrote (8848)6/11/2000 2:25:00 PM
From: Dan Duchardt  Read Replies (1) of 18137
 
Dom,

I understand the motivation, and I have no objection to your notion of eye training and system development. I still maintain that live trading with limited risk and low overhead is a far better approach.

When I was in my paper trading phase I was in a training program with lots of other new traders, and in contact with many who had recently gone from paper to live trading. Nearly everyone was making decent profits on paper, and nearly everyone was losing money trading live. The notion that you can expect your live gains to be half your paper gains is, in my experience, false.

It became very apparent to me that expectations developed during paper trading were not met in live trading, including both the ability to execute trades at market prices, and handling the emotional involvement in the trade. There is a huge emotional factor when switching from paper gains to reality losses for most of us because of the need to produce an income stream in order to stay in the game. It is my belief that it is far better to suffer REAL small losses from the very beginning than it is to build unrealizable expectations from paper profits. If you cannot turn it around under these conditions, at least you can quit sooner and probably lose less money in the long run. And if you can be profitable small, you can gradually scale up using the same system until lot size becomes the limitation.

Dan
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News