Duffers don’t tee it up at Ocean Course (Kiawah Island), Carnoustie Golf Links, Bethpage Black, Whistling Straights or Cape Kidnappers (Hawke’s Bay) the first time they try golf. These courses can wreak havoc on the scorecard of even the best professionals. Newbies learning the ropes of golf at these venues are set up for failure, frustration and utter disappointment.

Golfers often have erratic results when they first start to hit their irons and woods at the range. Players soon learn that working with a coach to understand proper grip and swing mechanics are critical to getting consistency from their long irons and woods. To achieve any semblance of a decent short game golfers also realize that they need to commit to regular practice of putting and chipping around the green. Once this foundation is set then golfers can head off to their local pitch and putt course, then gradually move up to more challenging courses as their skillsets improve.

The same disciplined approach is required to achieve consistent trading success. Trading paper accounts for at least 3-6 months, and in many cases longer are need to deliver consistent positive results. Still, it is important to remember that paper trading success doesn’t guarantee the same results when actual money is on the line. Many traders find that while paper trading helps them develop good habits for identifying entries and exits. Additionally, it helps them prioritize which set ups to trade. Managing emotions is an area where paper trading falls short. As a result, it is imperative to manage position sizing to minimize risk, particularly when one starts out trading.