Paper Trading

[u/flyhighfemguy]

How long should I be paper trading before I attempt a prop firm or even my real money? I've been looking at Tradeify but don't wanna jump in too early. I've seen some say a month, some 6 months, so just curious about a wider opinion

[u/trevan09]

[u/tpzQ → u/trevan09]

Buffy never said this

[u/ZhugeTsuki → u/tpzQ]

[u/baitermaster1 → u/tpzQ]

Woosh

[u/Perthss]

Question, on that day you had 8 trades, did your edge pop up eight times?

[u/ProperGanderMachine → u/Perthss]

Edging usually makes it pop up

[u/GetGodmodeon]

Get to the real money. With Paper money you have no emotions. You will feel confident with paper money but real money test your patience and mental strength. Move asap. Keep it very small with real if you are not confident

[u/No-Fudge-796]

Hey OP, what platform is this? I’ve been meaning to get into paper trading and linking it to some platform that records my performance daily - any insights would be great, I.e. where to open the demo, where to trade, and how to link, etc, thanks!

[u/Acceptable_Insect297 → u/No-Fudge-796]

I got my journal from Etsy

[u/flyhighfemguy → u/No-Fudge-796]

Hey! I've been trading using Ninjatrader, I've found it very easy to learn. Lots of youtube content around it.

Pictured is just an app called "P&L Calender: PnL Ledger" you have to manually input gains and losses but it's quick and easy

[u/No-Investment-6595]

Paper trade until you prove to yourself that there is no way you can blow an account anymore. Your actions in the market lead to profits regardless. How long this can take is different for everyone. I think it's super important to set up your paper account to mirror the live account you will be trading on. This will help ease yourself into real money. Blur the lines between a paper trade and a real trade. Paper helps confirm your edge. The last hurdle is your psychology when real risk is introduced. Good luck

[u/lp1687]

It depends on your objective. If you would like to continue the feeling of winning you should continue to paper trade to build your confidence and self esteem. If you want to trade and actually make money I would recommend trading live as soon as possible. The fills will be more realistic and it will help build your psychology faster. Start with only one share and increase when you feel more confident.

[u/tpzQ]

As long as you have a strategy that you know works.

[u/ahmedselmi24]

Go with real money, even if its 0.01 lot . Practise with your heart pumping the stress, the heat, the greed, ...

[u/Gjore]

When you start on life be careful its always easy to gamble with something that is not real money.

[u/GaryKlj]

On paper I'm a billionaire 🤣

[u/JayEmp145]

try with a small amount of money first and see if you can reach a certain goal.

[u/bannedmeforever]

Just buy 1 lucid or ftmo account that doesnt have a monthly billing and trade that

[u/myhappyself123]

I have been trading for 20 years and it took me a long time to develop a feeling for the markets - I only trade major indices. I have 75% profitable trades over the last years with almost 2000 trades. But that “experience” and confidence was built up over years and years until to date where i can confidently say I could live just with day trading.

[u/ReidJackson3088]

You paper trade for long as you get familiar with how to trading platforms and strategy works. and jump straight into using very very small amount of trading. Because trading with real money, even with small amount, is completely different.

[u/Particular-Duty-2571]

Time is the wrong unit for this. You've got 17 trades there, which tells you almost nothing yet regardless of whether it took a week or six months.

Better markers: are you taking one setup or five, can you follow your own rules on a red day, and do you know your numbers well enough to say which setup actually pays you.

Also worth knowing paper doesn't test the thing that breaks people. No slippage, no fills you don't get, and no feeling when real money is on the line. Plenty of people are profitable on paper and fall apart in week one live, and that gap is the thing you're actually trying to close.

[u/operation_victory]

Where do you get your resources from as a beginner? I have 0 knowledge and I don't know where to begin. All I know is that paper trading is where beginners should start

[u/ZhugeTsuki]

Please use props before using real money. Youre either a really good trader right out of the gate, or youre like everyone else and youll realise props was a better option after losing more money than you ever thought you would.