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I think you need to distinguish between paper trading and simulated trading.
I believe there is value in simulated trading but I see very little in paper
trading.
Bob
----- Original Message -----
From: "ric ingram" <ringram@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, March 26, 2002 12:06 PM
Subject: [RT] PSYCH: Avoidance of paper trading
> Hi,
>
> You probably, like me, have heard many traders disparage paper-trading as
a
> waste of time.
>
> I used to believe that this was due to the following symptoms often being
> related to a dislike of paper trading:
>
> - lack of self-trust to use discipline unless money was involved,
> - missing of the emotions of trading money,
> - unwilling, through greed or urgency, to paper trade, trade in a penny
> a point, building up the unit size slowly and steadily to what the
> account value, trading skills, acceptable risk of ruin, personal
> preferences, emotions... could effectively trade.
>
> My overall conclusions were that such people were potentially a danger to
> themselves (and others if CTA's) until they addressed their underlying
> problems.
>
> I still feel this is often true, but a story told to me recently has
> suggested that the symptoms that often are associated with such rejection
> of paper trading may be secondary factors - there may be a more insidious
> problem at their root.
>
> One of my longest standing friends is an unwilling scholar - based on
being
> asked to give a one-off lecture, he became a part-time academic at a UK
> university. As examples of his lack of scholar-like attributes, he is a
> successful investor in residential property; he has also succeeded in
> persuading his not-for-profit college to allow him to run a new doctorate
> course on a for-profit basis with him as the main shareholder.
>
> So his story is somewhat self-deprecating and simultaneously poking fun at
> his academic colleagues. According to him it is an old story - I hope
you
> like it.
>
> A number of academics were enrolled in time of war into the
> infantry. After training they all proved to be crack shots, capable of
> hitting the bullseye far more often than any other recruits.
>
> The time came for them to be sent into battle. As the enemy advanced,
the
> order was given to fire. Nobody moved. 'For goodness sake', shouted
the
> commanding officer, 'why don't you shoot?'
>
> 'How can we you fool', roared back one of the scholars, 'when we haven't
> been trained to fire at people.'
>
> If you have a scholarly view of trading, maybe, it is safer not to enter
> the trenches.
>
> So maybe, in a way, traders who see no value in paper trading are right -
> they may not be fit for any kind of trading.
>
> May your potential be realised, Ric.
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
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