Oil/Phil – OK. Learning here! Actually I paper traded more than 3 months before I started on real money, but I guess I was more aggressive then. Paper trading does that and I realize I have to do it differently and forget it is only paper. The stops I placed at 10 cents is because you usually tell us to take the $100 loss (I add a cent just to be one over the cero and five lines). The doubling I did was trying to follow your cues from the webinars, where you usually double between 4 and 10 cents and then sell the original contract at the break even point. In fact I was going to take the $100 profit when it escaped me!
I think I will go back to a paper account for the futures, but scale it down to a more realistic (for me) $50,000.
March 27th, 2014 at 2:28 pm
Oil/Phil – OK. Learning here! Actually I paper traded more than 3 months before I started on real money, but I guess I was more aggressive then. Paper trading does that and I realize I have to do it differently and forget it is only paper. The stops I placed at 10 cents is because you usually tell us to take the $100 loss (I add a cent just to be one over the cero and five lines). The doubling I did was trying to follow your cues from the webinars, where you usually double between 4 and 10 cents and then sell the original contract at the break even point. In fact I was going to take the $100 profit when it escaped me!
I think I will go back to a paper account for the futures, but scale it down to a more realistic (for me) $50,000.
Thank you Phil