Spending money to make money…

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Otherwise titled: ” How paper trading is a necessary evil”

So, over my time doing this, I have made literally every mistake you can possible make as an investment gambler. I have:

  1. Joined services that are new, with much larger stakes than I should.
  2. Joined services that are now and paid far too much for them.
  3. Overstaked to my available bank (Egypt last year was a prime example; 10% of my available bank staked a day)
  4. Jumped in, balls deep from day one based on the say so of an ‘independent’ tipster.
  5. Jumped off services that are having a drawdown (Not even a large one) jumping straight onto another that is also doing the same.
  6. Refused to paper trade. I’ve spent money so need to make it back, right?

Out of all of these mistakes, it’s probably #6 that is the most costly to my portfolios and my investments.

I can give you a prime example in the form of secondwincome, who isn’t having a particularly good month so far, but, I change my tact from last month and decided to start paper trading.

3 month sub minimum. First month paper traded (Or in this case, very very light stakes). Verify his posted results with what you have and if they match? Hooray. Go in with half of your normal stakes. If they don’t? Figure out why.

I guess this was more a rant than anything but seriously. Paper trade.

Oh! Make connections in the community, too. My largest profit this month is from my free portfolios.

Oh oh! Stop conflating sub price with performance. It’s not. Average the points return over a year and do your research as to points a month. Why am I paying £47 a month to EBS for an average return of 15 points when numerous other tipsters give that for much less?

 

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