Discussion
I have been paper trading across two equity markets and two forex markets for over a year now and my results have come in at 9258 positive points.
I already know that this is a good result, but I would have to risk a reasonable amount of capital, and more importantly time to start trading properly, am I being silly and should just take the plunge and see what happens? Or was last year a particularly freak market across my range?
It is all so tempting to go for it, but i would lose a large income that i currently have from my business, which i couldn't contine with, as the theory i have devised for my trading would keep me locked to my screen for most of the day?
I already know that this is a good result, but I would have to risk a reasonable amount of capital, and more importantly time to start trading properly, am I being silly and should just take the plunge and see what happens? Or was last year a particularly freak market across my range?
It is all so tempting to go for it, but i would lose a large income that i currently have from my business, which i couldn't contine with, as the theory i have devised for my trading would keep me locked to my screen for most of the day?
As above. If you will lose a "large income" then I would suggest not to do it. Making money on paper is good but in real life things have a funny way of working out differently. Trading with, and losing, your own money mean that psychology has as much to do with trading as the technical trading itself.
If your system is that good can you not automate it so that you can continue working as a back up for the first year or so to see if it works?
I would suggest trying it live with just a small amount of money but giving up a good income for it is not so sensible. Markets change all the time, what if your system stops working after 2 months? Will you be able to get your business back to giving you the good income you were used to?
If your system is that good can you not automate it so that you can continue working as a back up for the first year or so to see if it works?
I would suggest trying it live with just a small amount of money but giving up a good income for it is not so sensible. Markets change all the time, what if your system stops working after 2 months? Will you be able to get your business back to giving you the good income you were used to?
I have tried several test days, and it does take alot of concentration and no distractions, such as clients on the phone etc. My theory is simple, so i can look back through existing graphs at the end of the day and see what results i would of had.
Im aware there is no holly grail, but i do know that my theory was consistantly successful last year, but I don't know about 2012. I think I will give it a couple more months and if the results are still positive, I will convince myself to take the gamble.
Im aware there is no holly grail, but i do know that my theory was consistantly successful last year, but I don't know about 2012. I think I will give it a couple more months and if the results are still positive, I will convince myself to take the gamble.
dalenorth said:
I have tried several test days, and it does take alot of concentration and no distractions, such as clients on the phone etc. My theory is simple, so i can look back through existing graphs at the end of the day and see what results i would of had.
Im aware there is no holly grail, but i do know that my theory was consistantly successful last year, but I don't know about 2012. I think I will give it a couple more months and if the results are still positive, I will convince myself to take the gamble.
You can't just look at graphs though. Have you looked into execution slippage?Im aware there is no holly grail, but i do know that my theory was consistantly successful last year, but I don't know about 2012. I think I will give it a couple more months and if the results are still positive, I will convince myself to take the gamble.
What markets and what timeframes are you trading?
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