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Rick,
I've never really done it, but wouldn't paper trading be mostly invalid?
I made a decision to sell Boeing when I saw it hit 49 1/8 - by the time I
entered my order and it executed I sold at 48 15/16. When trading on
small margins, wouldn't taking credit for an extra 3/16 on a paper trade
skew one's expectations?
Bob.
On Sat, 25 Oct 1997 Bando57@xxxxxxx wrote:
> Eric and I werent advocating dropping paper trading from one's
> development..far from it...you have to paper trade....i would think quite
> obviously even the most experienced of traders still paper trade in some form
> or another when embarking on a new method or modifying an existing one....
>
> We are just saying that, and especially for a novice, paper trading has to be
> put into perspective....a whole new set of parameters come into play when the
> money is in the mouth....the psychological factors are just so different...
>
> example: for those who golf, they will know what i mean
>
> you go to your course early in the morning and play by yourself all week in
> prep for a big money game on the weekend....the shots just fly to the green,
> chips roll up the pin and the putts drop..
>
> then on the weekend standing there with your three buddies watching your
> every move the jitters just naturally come...the putt that now has to be made
> to save a $5 press all of a sudden looks that much longer and the hole that
> much smaller...
>
> paper trading is like hitting a golf ball at the range
> real trading is hitting a driver over water into a narrow landing area
> guarded by huge trees on either side 240 yards away.
>
> Rick
>
==================================================================
Bob Dombrowski, Buffalo, NY
ah149@xxxxxxxxxxxxxxxxxxx
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