{"id":577,"date":"2023-01-02T15:06:31","date_gmt":"2023-01-02T15:06:31","guid":{"rendered":"https:\/\/newmiller.com\/?p=577"},"modified":"2023-07-23T15:08:40","modified_gmt":"2023-07-23T15:08:40","slug":"taking-off-the-training-wheels","status":"publish","type":"post","link":"https:\/\/newmiller.com\/index.php\/2023\/01\/02\/taking-off-the-training-wheels\/","title":{"rendered":"Taking Off the Training Wheels"},"content":{"rendered":"<div class=\"tta_notice\"><\/div><button id=\"tta__listent_content_1\" class=\"tta__listent_content \" type=\"button\"  title=\"Text To Audio:  Tap to listen post.\"><div class='tta_button'><span class=\"dashicons dashicons-controls-play\"><\/span> <span> Listen<span><\/div> <\/button>\r\n<style>\r\n#tta__listent_content_1.tta__listent_content{ background-color:#184c53;color:#ffffff;width:100%;border:0;display:block;border-radius:4px;text-decoration:none;cursor:pointer; }\r\n#tta__listent_content_1.tta__listent_content:hover{background-color:#184c53;color:#ffffff;width:100%;border:0;display:block;border-radius:4px;text-decoration:none;cursor:pointer;}\r\n#tta__listent_content_1.tta__listent_content .text-position{ position: absolute;padding-top: 2px; }\r\n#tta__listent_content_1.tta__listent_content .dashicons{ display: none;line-height:1;font-size:25px;height:25px;width:25px; }\r\n\r\n<\/style>\r\n<script>\r\n    window.ttsContent = \"Taking Off the Training Wheels. Time comes when you\\'ll want to trade live rather than in simulated mode. Here are some things to consider as you contemplate this transition: Don\\'t begin trading live until you become consistently successful trading paper.Before applying any successful trading strategy in live trading, understand how and why it is successful. Being lucky is not a good strategy.Use a live trading platform that is as close a match as possible to your simulated platform.Learn all you can about differences between the simulated platform and the live trading platform. For instance, paper options trades on Thinkorswim are never subject to early assignment.Do thorough tax planning. Understand how a standard margin investment account is different from a Roth IRA. Choose an account type that will be consistent with your best interests. Don\\'t hesitate to return to the paper platform whenever your profits fall or turn into losses. Market behavior is dynamic. What worked last year may not work this work this year.Don\\'t change your trading approach without returning to paper trading to test it thoroughly. Start slow. Test the waters before you dive in.\"\r\n    window.buttonId = 1\r\n    window.ttsListeningSettings = {\"tta__listening_voice\":\"Microsoft Mark - English (United States)\",\"tta__listening_pitch\":1,\"tta__listening_rate\":1,\"tta__listening_volume\":1,\"tta__listening_lang\":\"en-AU\"}\r\n<\/script>\n<p class=\"has-medium-font-size\">Time comes when you&#8217;ll want to trade live rather than in simulated mode. Here are some things to consider as you contemplate this transition:<\/p>\n\n\n\n<ul class=\"has-medium-font-size\"><li>Don&#8217;t begin trading live until you become consistently successful trading paper.<\/li><li>Before applying any successful trading strategy in live trading, understand how and why it is successful. Being lucky is not a good strategy.<\/li><li>Use a live trading platform that is as close a match as possible to your simulated platform.<\/li><li>Learn all you can about differences between the simulated platform and the live trading platform. For instance, paper options trades on Thinkorswim are never subject to early assignment.<\/li><li>Do thorough tax planning. Understand how a standard margin investment account is different from a Roth IRA. Choose an account type that will be consistent with your best interests. <\/li><li>Don&#8217;t hesitate to return to the paper platform whenever your profits fall or turn into losses. Market behavior is dynamic. What worked last year may not work this work this year.<\/li><li>Don&#8217;t change your trading approach without returning to paper trading to test it thoroughly. <\/li><li>Start slow. Test the waters before you dive in. <\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Listen Time comes when you&#8217;ll want to trade live rather than in simulated mode. Here are some things to consider as you contemplate this transition: Don&#8217;t begin trading live until you become consistently successful trading paper. Before applying any successful &hellip; <a href=\"https:\/\/newmiller.com\/index.php\/2023\/01\/02\/taking-off-the-training-wheels\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/posts\/577"}],"collection":[{"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/comments?post=577"}],"version-history":[{"count":3,"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/posts\/577\/revisions"}],"predecessor-version":[{"id":585,"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/posts\/577\/revisions\/585"}],"wp:attachment":[{"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/media?parent=577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/categories?post=577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmiller.com\/index.php\/wp-json\/wp\/v2\/tags?post=577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}