Coaches Corner - Going Live | Episode #10
February 26, 2013 at 5:04 PM (SPY)(GLD)(DIA)(TSLA)(MDBX)
Going Live | Transitioning From Simulator To Real Money Trading
You are about to embark on the part of the journey that will ultimately make or break you as an Emini Trader. Many traders want to skip right over the simulator so they can make it "real". Those traders either humble down eventually and do the right thing, or they cease to call themselves traders.
If you are moving from Stocks or Options into Emini Futures, you may only need 2-3 weeks in Sim. If you are brand new to trading, it will take you at least a week to learn the mechanics. Once you have mechanics down, expect to spend 6 weeks to 6 months. You must be consistently profitable in Sim before you go live.
Once you go live you will encounter emotions you never knew existed. The good news? You can go back to Sim any time. Sim / Live / Sim / Live as often as it takes. One of the biggest mistakes traders make when the fail to become profitable in the simulator, is going Live anyway, thinking somehow that will fix the problem. It won't. It will only compound it.
Reach out for help. Don't ever be ashamed or embarrassed to ask for help. Reach out to your Mentor, call Burt, talk to somebody who will give you wise counsel. You don't have to go it alone. Keep in mind, if you accept the "support network" offered, you are committing to be there for someone else, down the road.
If you are “Stuck” or feel fear GET HELP especially if you can’t overcome it yourself.
Be responsible. Protect your cash to trade another day, go SLOW. Nice and easy
Great Trading - Robin Dayne “The Trader’s Coach” 702-616-3744 rdcoach22@yahoo.com
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