Debbie 1 Posted February 7, 2020 Hey guys!! Been a member for a month now. Love the community and information! Just started using the simulator. Know everyone's different, but do you guys recommend leaving after meeting the daily $$ goal? Or keep practicing? Feeling 50/50. Share this post Link to post Share on other sites
Abiel 474 Posted February 7, 2020 Hi Debbie. Sim is a habit builder, good and bad habits. So trade in sim as you would in real. Don´t get fomo because you are not trading, an important part of the learning process is your reflection and review of your trades (journaling) so your learning daily sesion should have the trading stage and the journaling stage. Abiel Guerra BBT Team [email protected] @abielguerra Find your answers in our Knowledge Base Share this post Link to post Share on other sites
Rob C 826 Posted February 7, 2020 59 minutes ago, Debbie said: Hey guys!! Been a member for a month now. Love the community and information! Just started using the simulator. Know everyone's different, but do you guys recommend leaving after meeting the daily $$ goal? Or keep practicing? Feeling 50/50. The first month on the SIM is about learning DAS and see what type of setups fit your personality. So there may be some over trading during this discovery phase. Once you discover what setups fit you I definitely recommend kicking in the discipline and stopping when your goal is reached. Andrew once recommended that you need at least one month on the SIM where you treat it exactly like it is real money, before actually going live. I personally stayed 6 months on the SIM before going live, and three months live before the discipline finally kicked in. So please take your time. Share this post Link to post Share on other sites
Debbie 1 Posted February 7, 2020 Abiel, Rob, Peter: Your diverse responses help put it to perpective and form my own answer. Thank you! Share this post Link to post Share on other sites
Bailey Nevener 83 Posted December 15, 2020 (edited) On 2/7/2020 at 12:25 PM, Debbie said: Abiel, Rob, Peter: Your diverse responses help put it to perpective and form my own answer. Thank you! I would certainly focus on trading for “time” in the first 2 months. 9:30EST fo 10:30EST at least. However, once that explore period is complete, I would focus on an ‘R’ multiple goal for the day. A minimum R multiple that I would do if I were you is 3 for the goal. A minimum max loss R multiple you should use is also 3. I personally have a ratio like this, 50 : 5 : 5 That is $50 risk per trade, 5R max loss, 5R goal amount. Even more ideal might be 50 : 5 : 7 It is necessary to not have your goal be close in Rs because your max loss would also have to be close. It is counter intuitive, but you really don’t want one trade to matter too much in regard to your overall day. What I mean is, if you make each trade worth so much in your day if you lose, then you are probably going to swing for the fences more to take the pressure off. If you can ‘afford’ losing one or two trades before getting nervous, it will enable wiser trading decisions. Not to mention even good trading setups may not work several times in a row. My ratio use to be 200 : 2 : 2 I was so inconsistent from day to day it was insane, but it makes sense. I was banking on one of my first two trades being a winner or I was done for the day. That level of accuracy is simply put, out of a traders control. Give up the quick gains, become a consistent trader. Edited December 15, 2020 by Bailey Nevener Share this post Link to post Share on other sites
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