Another Week in the books. This past week has been absolutely amazing, to say the least. There were some runners like $NBY and $IGC along with many more which I will discuss in the video recap below. This post is going too different from the rest. As you know I have not had Stock to Trade in well over a month. It has been tough, I m not going to lie. I did not let them from keeping me immersed in the Markets. As you see in the past video recaps. I've been using Thinkorswim AKA TOS. Only for scanning. I did not allow myself to Trade since TOS is run on delayed data. I smoky used it for scanning for my highly tracking which I revealed in a previous post. Furthermore, I used Yahoo Finance for the past 2 months just for live Market quotes and Charting. Not the best, but you work with what you got. I honored the struggle for the past 2 months. For the reason that I will explain in a video lesson, I made that decision. It's OK. I can't take away the past. I can only invent the future.
Of course, Stock to Trade has a paper trading feature that is Life with Real Market Data. I will be utilizing the Data which has been available for me in order to back Test. You must think of yourself as Scientist. Test and Test. Refine and Refine and Optimize in Pursuit of Success. I've done it before, but this time will be unique in many ways.
Paper Trading often gets a bad opinion in the Trading Community, but I couldn't disagree more. Again everyone has their own Personally and Opinion. I will respect that. Paper Trading has changed the game. Why risk your hard earned money on the line. Like I said you have to Test your Edge. A Simulator Account is a great way to build on your Mechanical Approach to Trading. Emotions don't a real impact on Paper Trading is another debate that is very common. I agree to some extent. Since it's not real money on the line, we don't have that emotional factor. I will summarize my point in the Video Recap as well.
Each of us will have different paths in our Trading Journey. That is what is the beauty of the Markets. Did I expect too be paper Trading at this point? No, I did not. But make the best of it. I am only 20 years old. I have my entire life ahead of me. Markets will always be there. Although I do have a target date of when I anticipate beginning trading in a Live Account. I will discuss that as well in the Video Recap.
Of course, now that I will be Paper Trading Again. We must go over the rules. Just because it's virtual money does not mean I can set the Buying Power to the Max. I have to treat this like a Business. Train Like a Pro...Act Like a Pro...Work like a Pro. I will have a specific starting amount which I will discuss in the Video Recap. In addition, I explain the rules which should be ingrained in your head by now. The great thing is that I don't have to reinvent the wheel. The rules are set...the game board is set. Just like chess. Make your move. Put it this way. It takes NO skill to put on a winning trade. It takes SKILL to create a state of Consistent winning Trades. Sounds Confusing. I know. But Allow me to explain in the Video Recap.
I am looking forward to sharing this part of my Trading Journey with you. Let's get back to it!
- I love you all. My parents, I will always love you I thank you for being great parents. Happy Fathers Day to my Dad. To my Siblings, I will always be here for you. Everything was for y'all and my Family. I never decided to become a trader...I just simply never stopped leading. Once I entered the Game. I was hooked. It was never a Passion. It was an OBSESSION. I don't know where I will be in one or five years from now, but I'm in control.
This past weekend I stumbled across a 6 plus seminar by Mark Douglas. Who is the author of "Trading in the Zone" and the "Disciplined Trader." This seminar was mind opening. I will share in the video recap.
* I did intend to record a longer video recap. Sadly I did not press the Record Button on the Software. I was talking too myself for an hour. To save my voice I did not decide to redo the video. I will make it up in next Saturday's post.