Paper Trading
Doing paper trade before and after you become a trader is completely different. Before you become a trader, you don't know about fear, greed and maximum drawdown for your trading strategy( Drawdown is the loss of your capital after a series of losing trades). You have a trade set up and you test it by paper trading. After becoming a trader you know how you feel after profit/loss. You know how powerful fear and greed is. And you know that you have not tested your trading strategy's maximum drawdown.
Doing paper trade after becoming a trader may be because of not following your trading plan properly. You may think your trading plan is wrong and you want to find some other suitable trading plan. The real thing is your mind don't know how to handle fear or greed. You should feel confident to overcome fear and greed. You have to find your strength and weakness in trading. You are the only one who can find it. Nobody can find it for you. Some people will be good in trade using pivot levels, Fibonacci levels or in finding divergence in indicators or pattern finding etc. You cant become master in all. But once when you are clear about your strength you can control your fear and greed. It won't happen in a single day. And the whole process takes time depending on your hard work.
PS: I am always fascinated by observing human behaviour and mind. And share market reflects the human mindset.
Doing paper trade before and after you become a trader is completely different. Before you become a trader, you don't know about fear, greed and maximum drawdown for your trading strategy( Drawdown is the loss of your capital after a series of losing trades). You have a trade set up and you test it by paper trading. After becoming a trader you know how you feel after profit/loss. You know how powerful fear and greed is. And you know that you have not tested your trading strategy's maximum drawdown.
Doing paper trade after becoming a trader may be because of not following your trading plan properly. You may think your trading plan is wrong and you want to find some other suitable trading plan. The real thing is your mind don't know how to handle fear or greed. You should feel confident to overcome fear and greed. You have to find your strength and weakness in trading. You are the only one who can find it. Nobody can find it for you. Some people will be good in trade using pivot levels, Fibonacci levels or in finding divergence in indicators or pattern finding etc. You cant become master in all. But once when you are clear about your strength you can control your fear and greed. It won't happen in a single day. And the whole process takes time depending on your hard work.
PS: I am always fascinated by observing human behaviour and mind. And share market reflects the human mindset.
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