Paper Trading Discipline
Trading stocks successfully is very dependent on discipline. Lack of it can be the difference between making several thousand in one day or losing just as much.
Stock trading discipline plays a role in:
- Picking stocks
- Waiting for opportunities
- Not overtrading
- Exiting losing trades
- Entering trades
- Following stop loses
Discipline is not only the key to making paper trading work for you, it is the key to successful stock trading in general. Any lack of following proper rules will be maginified when trading with real currency. It's your money, and you must do everything you can to prepare. Paper trading will help and it will expose your weaknesses.