[Dan Mezick]

Trader tilt is very real. And a huge issue to understand and manage. Under real conditions a typical new student would play ONLY long stock with no margin because of all the factors you list.

If you cannot win at [long stock/no margin] you are just adding variables and kidding yourself if you add anything (for example, short stock) as an additional, allowable type of trade in your method.

Yes, trading play money is not the same--- not nearly. The situation and effect is analogous to playing play money on Party vs. cash on Party.