Should I trade more in a day for practice? (newbie)

[Teruki 21]

Hi,
I just joined last weekend and I have practiced for 4 days from Monday.
I totally understand now how difficult it is and need a lot of training/practicing before going live!

Now, I am wondering how I should practice. I know when you are live, it is not recommended to take many trades. You choose and focus, right?
While I understand it is important to simulate as realistically as possible, meaning train as if you were really live, I can't experience many trades or see many patterns if I do so. I could still learn by without taking many trades and by watching, but if I take a trade then I feel I concentrate more and learn from mistakes.

So my question is, which is better?  Is it something that depends of your learning style or is it actually recommended to take only a few trades during the training period as well?

Thank you!

[Alastair 114]

IMO during training u should be in SIM/DEMO acct.  First take as many trades as possible to learn the platform and how it works while u create a "Trading Process"  abt 2 weeks.  U should know the platform and all the buttons, where to find what etc.

 

After tht phase now u switch into real sim trading (still in demo) but u r doing everything like u would do in a LIVE acct.  Evaluate success/failure, adjust, and repeat until u find consistency in demo/sim mode.

 

 

[Brendon 146]

Hey Teruki, simple answer, the best practice is the paper trade like you would live. Even to learn patterns. 

[Teruki 21]

Thank you all for your replies!
Got it - I will play around until I learn the process and technical aspects, but be careful not to fall into bad habits etc..
(I might take more trades just to make sure  DAS works as I expect it to work.)
Then I will just trade as I would when live.

[PilotFish 23]

As someone who just came out of SIM I will say this: I think it's important to make ALL the mistakes you can in SIM, and that includes over trading, so get in there and get your hands dirty. Always be mindful of what you are doing and don't let it turn into a bad habit, but definitely do it. Scalp bounces, scalp pullbacks, go long in pre-market, short a downward trend, hell, hold a position overnight. Get in as many trades as you can, and then watch them closely. Being in a trade has a profound effect to keep your eyes glued to the screen as well as increase your learning. Once you are getting close to going live, start to scale back and begin trimming the fat, getting into a more rigorous rules based approach that you plan to follow when you go live. Hope that helps and good luck to you.

Edited April 15, 2020 by PilotFish

[Teruki 21]

On 4/12/2020 at 10:10 AM, PilotFish said:

 Get in as many trades as you can, and then when them closely. Being in a trade has a profound effect to keep your eyes glued to the screen as well as increase your learning. Once you are getting close to going live, start to scale back and begin trimming the fat, getting into a more rigorous rules based approach that you plan to follow when you go live. Hope that helps and good luck to you.

It is what I was thinking of. When I trade, although it is not live, I really focus on it and it seems like I learn a lot more than I would when I just try to observe. Also easier to go over it and find out what I did well or wrong. Thank you for your wishes 🙂