So your trading coach has been telling you to only trade in your paper account. A couple months have gone by. You are wondering when you have proven your trading success.
My coaching clients seem to either be anxious to use real money, or are perfectly happy being safe while only using their paper account. Since the point in learning or improving your ability is to make money, it may be time for you to move into trading real money.
I suggest that trading coaching clients only keep track of your win/loss ration for the past 10 trades. Make this a rotating past ten trades. Just to claify, only count a trade after it is closed. After it is closed, did you put profits in your pocket or did you lose paper money? If you put profits in your pocket in at least 5 of the last 10 trades, you are ready to make some real money!
No cheating allowed! Just because your trade was profitable at one time does not matter. When you close your trade – that is what matters! When you closed your trade was it a win or loss? If you follow your money management rules, you can win 5 out of 10 trades and still be profitable over all.
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