So i have been demo trading for about a month now and i see people using these strict systems and they only trade when certain conditions come together even if for example a uptrend has begun they jump in on it a little late because the certain conditions used in there system didn’t come together till then. I haven’t been using a real set in stone system. I have been basically using trend lines, support/Resistance and some sma/ema and macd to trade… but there really isnt any strict system. i trade when i think i see a opportunity and not when certain things come together. is this a bad thing to do ? or should i try to make a set in stone system. i have been doing pretty good when i actually sit down and anaylize the charts instead of trading from phone in school:D. I am 17 and in highschool still…
thanks
Do something else until you’re 25.
Demo results don’t mean anything because the challenge in trading is dealing with real money losses.
Basically, you’re gambling with fake money in the world’s biggest casino. You don’t feel like you know what you’re doing because you don’t. Get educated, in 8 years.
i never said i didnt feel like i didnt know what i was doing. I am learning things… im not just guessing and i dont see why its a problem trying to learn it now. if anything i think it would be better to get a head start in trading.
I think the earlier you start, the better! Just make sure you’re financially ready by the time you open a live account later on, but there’s no harm in learning the ropes even if you’re still in high school. That’d give you a few years’ lead compared to most traders who’ve started learning the basics after graduation or even while they’re already working. I say work on your “skills capital” for now then worry about the trading capital later on.
Not having a strategy set in stone is a strategy :). I agree with PipDiddy…the earlier you start the better!
Absolutely ++++1 My son has expressed an interest in trading, he is 16 in high school. He asked me what I thought about him trading when he’s in university instead of working at a traditional university part time job. I told him I don’t know. . .draw up a detailed business plan and then I’ll let you know what I think. If you can see your self trading and doing the work that goes along with it, then the earlier the better. Good Good Luck
Gp
What ever you are doing on demo is not going to teach you anything. Once you decide to move to a live trading it will be totally different. And only than you’ll find out does you really need to have a trading plan and strategy or not.
Actually, I think the demo is a good tool to learn the mechanics of it, just not to follow it in terms of trading real money. You have to know the tool you are using intimately before you move up to the real deal