practice mode for real?
Right then chaps. I have for a while been practising numerous things on practice mode since my earlier posts of being a newbie and losing some small thousands of pounds. I am now contemplating trying to trade properley again now. My question is using the ladder etc on different markets, would the reaction to my input of money be the same in practice mode and for real?
No, practice mode is more of a figures and strategy thing. Alot of people get caught out with practice mode, i did in my early times. Just face the market once you know where you would get out if it go,s belly uprogerlisa wrote:Right then chaps. I have for a while been practising numerous things on practice mode since my earlier posts of being a newbie and losing some small thousands of pounds. I am now contemplating trying to trade properley again now. My question is using the ladder etc on different markets, would the reaction to my input of money be the same in practice mode and for real?
It will be different, especially if you're using large stakes. I think practice mode is fine for trying automation strategies, or seeing how your Excel sheets react, however I don't think it's great for teaching people how to trade. For starters, you will react differently yourself when you're playing with real money. Once the heart rate has increased, decision making won't be the same as in practice mode. Practice mode doesn't show part matched trades, or the frustration of being stuck in a queue etc
Practice mode is good start for learning the basics and how things work.
but trading for real is very very different,
for a start it's real money and that will change you mentality completely.
also there is the getting orders filled problem, if you are using 2-00 stakes then it's not a problem,
and the same with practice mode results,
but as you increase stakes you will start to have a bigger effect on the markets and move the price away from you etc.
but trading for real is very very different,
for a start it's real money and that will change you mentality completely.
also there is the getting orders filled problem, if you are using 2-00 stakes then it's not a problem,
and the same with practice mode results,
but as you increase stakes you will start to have a bigger effect on the markets and move the price away from you etc.
We've tried to make practice mode as realistic as possible, but if obviously has its limitations. It works best with small stakes and most unrealistically with enourmous stakes.
The best metaphor I can give you for how you should treat it, is to imagine you are taking a penalty kick in a football match against a blindfolded goalkeeper. When you use practice mode the market can't react to your order because it can't see it, the same as the goalkeeper can't see where you just kicked the ball. But he may save your shot anyway.
Using real money in the market is always going to feel different, no matter how well the practice mode functions. But one of the main reasons we introduced practice mode was so people could learn about trading and using the software at no risk. You can also practice key skills ready for when you make mincemeat of the market
So it's generally very useful whatever you use it for.
The best metaphor I can give you for how you should treat it, is to imagine you are taking a penalty kick in a football match against a blindfolded goalkeeper. When you use practice mode the market can't react to your order because it can't see it, the same as the goalkeeper can't see where you just kicked the ball. But he may save your shot anyway.
Using real money in the market is always going to feel different, no matter how well the practice mode functions. But one of the main reasons we introduced practice mode was so people could learn about trading and using the software at no risk. You can also practice key skills ready for when you make mincemeat of the market
So it's generally very useful whatever you use it for.-
steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
The market will react against real money.