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My sim to real life plan.

QuestionsCategory: QuestionsMy sim to real life plan.
andrew_n asked 1 year ago
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.  
Assuming I say green on the week (so far so good) I could be dipping my toe in with that first real buy by the end of the month.   I am a cattleman by training and have been taught that when putting together groups of cows or feeders calves buy 5-10% each week as a way of limiting risk.  That is why I am thinking that way, but am totally open to you telling me that chain of thought doesn't translate to this.   What does your experience say about that proposed timeline?  What about the slowly increasing exposure as I gain experience?   Thanks again for the chance to be part of the team. Andrew   
1 Answers
Avatar photoOwen Staff answered 1 year ago

Hi Andrew,
Pat made this video for you...
https://youtu.be/mLBEYkEkCH8