{"id":32183,"date":"2013-10-06T09:31:44","date_gmt":"2013-10-06T13:31:44","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=32183"},"modified":"2023-04-06T14:28:06","modified_gmt":"2023-04-06T18:28:06","slug":"from-paper-trading-to-live-time-to-turn-the-lights-on","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/from-paper-trading-to-live-time-to-turn-the-lights-on","title":{"rendered":"From Paper Trading to Live: Time to Turn the Lights On"},"content":{"rendered":"<p>I&#8217;ve been mostly daytrading for couple of years with not very impressive results. The last few months I decided only to paper trade and the results are pretty good. The problem is that I&#8217;ve done this before (trying to transition from successful paper to real trading) with disappointing outcome.<\/p>\n<div>\n<div>\n<p>That&#8217;s why I&#8217;m not that confident that this time it will work, although, this time the results of my paper trading are remarkably steady and consistent. I don&#8217;t sense that I am doing anything differently when I trade real money, I am invested emotionally with my paper trades almost as much as with the real ones(I think). Yet there is something that I am missing.<\/p>\n<\/div>\n<\/div>\n<div>You&#8217;ve been around a lot of aspiring traders, do you have any experience or insight on that issue?<\/div>\n<div><\/div>\n<div>\n<p><strong>@mikebellafiore<\/strong><\/p>\n<\/div>\n<div>\n<p>You are ready. This time is different. You said it in your question: &#8220;although, this time the results of my paper trading are remarkably steady and consistent.&#8221;<\/p>\n<\/div>\n<div>\n<p>The past is the past. You were trading different setups probably, at a different time of your life, with less screen time, and with less trading knowledge. One suggestion I would recommend is to develop with as much detail as possible the variable of your trades. And then back-test them. This will give you more confidence in your trading in real-time if you added this step to back-test your setups. We have been doing much more of this on our test. An up-and-down trader on our desk chatted with me outside my office on Friday that his confidence is much higher in certain setups because he back-tested those ideas on our proprietary software. He said, &#8220;I know they work and all I have to do is execute.&#8221;<\/p>\n<\/div>\n<div>\n<p>I love your approach to restarting your trading career. Paper trading is a very powerful skill builder that most should adopt before trading live.<\/p>\n<\/div>\n<div>On <em><a href=\"http:\/\/www.smbtraining.com\/blog\/smb-on-wall-street-warriors\">Wall Street Warriors<\/a>,<\/em> a TV documentary that highlighted our training program<em>,<\/em>\u00a0one of the scenes that resonates with many developing traders is me standing before some of our trainees and saying, &#8220;You have to believe you will be the next great trader on the Street.&#8221; You can be. You have done the work required. You are ready. It&#8217;s time to turn the lights on and have some fun.<\/div>\n<div>\n<p>Related blog posts:<br \/>\n<a href=\"http:\/\/www.smbtraining.com\/blog\/the-overanxious-trader\"> The Overanxious Trader<\/a><br \/>\n<a href=\"http:\/\/www.smbtraining.com\/blog\/hey-just-relax-and-trade\">Hey, Just Relax and Trade<\/a><\/p>\n<\/div>\n<p>You can be better tomorrow than you are today!<\/p>\n<p>Mike Bellafiore<\/p>\n<p><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-ebook\/dp\/B003VIWRJA\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1381064463&amp;sr=1-1&amp;keywords=one+good+trade\"><em>One Good Trade<\/em><\/a><\/p>\n<p><a href=\"http:\/\/www.amazon.com\/The-PlayBook-Inside-Professional-Trader-ebook\/dp\/B00DW7PLLQ\/ref=pd_sim_b_1\"><em>The PlayBook<\/em><\/a><\/p>\n<p><a href=\"http:\/\/twitter.com\/mikebellafiore\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>No relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve been mostly daytrading for couple of years with not very impressive results. The last few months I decided only to paper trade and the results are pretty good. The problem is that I&#8217;ve done this before (trying to transition from successful paper to real trading) with disappointing outcome. That&#8217;s why I&#8217;m not that confident that this time it will &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/from-paper-trading-to-live-time-to-turn-the-lights-on\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2444,2449,4703,2448,2451,4706,4707,1718,653,2445,1989,4712,4690,1888,207],"class_list":["post-32183","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-daytrading","tag-how-to-be-a-day-trader","tag-learn-trading","tag-prop-trade","tag-stock-market-course","tag-stock-trading-education","tag-stock-training","tag-the-playbook","tag-trader-training","tag-trading-careers","tag-trading-course","tag-trading-courses","tag-trading-education","tag-trading-school","tag-trading-stocks","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>From Paper Trading to Live: Time to Turn the Lights On | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/from-paper-trading-to-live-time-to-turn-the-lights-on\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From Paper Trading to Live: Time to Turn the Lights On | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I&#8217;ve been mostly daytrading for couple of years with not very impressive results. The last few months I decided only to paper trade and the results are pretty good. The problem is that I&#8217;ve done this before (trying to transition from successful paper to real trading) with disappointing outcome. That&#8217;s why I&#8217;m not that confident that this time it will ... 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