Owen and Pat,
Owen has mentioned that he feels he spent too long in sim paper trading and has encouraged me to start taking small 5 share positions as soon as I am comfortable. I want to let you know I hear you.
I also thought it might help you as I am asking for coaching if I shared my current thinking on when and how to transition out of sim and into actual money.
My current bank roll to trade is $10,000. There is a bit more available, but that is the limit for now until there is a proven track record of six months or more.
- Step one is putting together two green weeks in a row in simulation.
- Step two trade with $500 or 5% of my bank roll in real trades. Likely 5 shares of something between priced under $100 or two positions less than $50 a share.
- Step three as long as progress forward is being made add in 5-10% ($500-$1000) more cash each week.