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cintrix

03/22/13 10:09 AM

#2906 RE: Melmarc #2905

Joe C offers good advice. The only thing I would like to comment on what he said is the paper trading advice. That is a good way to get started, but don't ever think that because you are doing really well paper trading that it will carry over into the real world of trading. There are two reasons for this. One is the psychological aspect. When you are trading with fake money you will trade differently no matter what you think. You may put more into a trade than if you were actually trading - you may stay a little longer in a trade because it isn't really your money - you may be more likely to buy something that you might be scared to buy with your own money. The other point is that when you paper trade you are assuming that you are getting your buys and sells where YOU pick them. That doesn't always work that way. Sometimes you know where you want to exit but when you put your order in it doesn't fill and immediately downticks. Same with a buy. You may see something that you go to buy and there are other buyers in front of you and you don't always get your fill where you want it. When you paper trade that doesn't happen. Getting your fill at your price points is another obstacle. Just keep that in mind.