That’s too accurate.
You need more data, and screenshots aren’t exactly sufficient for that. But yes, trading live is crucial for gathering real results, which you should then journal, analyze, and optimize.
Arsenio said:
You need more data, and screenshots aren’t exactly sufficient for that. But yes, trading live is crucial for gathering real results, which you should then journal, analyze, and optimize.
You’re absolutely right—live trading is essential for collecting real data. I’m just getting started with all this and am honestly unsure of what to expect or how to move forward. Any advice on how to journal, analyze, or optimize a trading system would be incredibly helpful. Right now, I’m focused on understanding the basics step by step.
You can’t learn to trade without spending time screen trading. So, go live. Start small using a prop challenge account for $100, which gives you a $10,000 account. Make $5 trades, and if you lose 1% of the account ($20), take a break and reassess. If you repeat this for a year, you might learn how to trade effectively. Avoid spending so much time backtesting your system, as many suggest. You’ll likely waste months, and within the first week of live trading, you may discover your system doesn’t work in reality. If you have an idea that seems promising, trial it live for a few weeks to see how it performs before diving into backtesting.
Your trades appear to be logical and systematic. Start with a demo or a small account to practice live trading, focusing on how to enter and exit trades and calculate lot sizes.
Demo accounts serve primarily to help you get familiar with trading. Moving to live trading helps you navigate the toughest phase—emotional control and the subsequent self-doubt that comes with it. After that comes breaking even, then achieving profitability. Get live as soon as possible; best of luck!
Posting eight trades on Reddit and asking if it’s time to go live misses the bigger picture. Trading is about demonstrating consistency over a substantial sample size. Eight trades reveal nothing about your risk management, adaptability, or overall edge. Common sense plays a crucial role.
If you were truly ready for live trading, you would have completed 300-400 trades in real-time, carefully journaled with performance records showing no significant inconsistencies. You need a solid profit history, proven discipline, and a clear understanding of your trading system before you make the jump. Anything less is just asking for costly mistakes.
You need more data than what you have. Make sure to backtest and forward test your system before going live.
I pretty much have similar setups.
More than just solid trade setups, successful trading hinges on self-control and effective capital management.