Day trading may feel like you’re playing a computer game. Sometimes, fast hand-eye coordination makes all the difference between winning and losing. In the competitive gaming industry, winning comes with large prizes. Some computer games involve great real-time teamwork strategies; such things are undoubtedly employed by algorithms or professional systems with large capital. In the gaming industry, there are analyses given to the audience as to what the players are doing; newscasts with market commentary may be a fair analogue.
So what’s the difference? Mainly, it comes down to the immediate dollars and cents, risk and reward. Most teenagers are not playing video games for money in the same way, though they may be seeking donations on Twitch or whatever streaming platform. (Some day trader personalities do this, too!)
Another similarity is how you can practice trading and playing the game. For example, you can practice offline in some games with “bots” who are just programmed enemies rather than being controlled by real players. Likewise, you can paper trade (with “Monopoly” money!) in NinjaTrader either real-time or after-hours via the playback connection.
Many of us have heard those stories of traders making it big or losing everything within a few hours of trading. The outcome of a game typically does not change one’s destiny in the same way. With both games and trading, there are mistakes beginners can easily make. This video addresses five important concepts.
Do you know the purpose of the “Rev” button in NinjaTrader? That’s the Reverse button. It can make a huge difference in your trading. That’s what’s explained first. We won’t spoil the remaining four topics. Keep watching!