Best place for Paper Trading

Discussion in 'Educational Resources' started by seth711, Jun 27, 2006.

  1. seth711


    Can anyone recomdend a site or service where I can get started doing a bit of paper trading without hours of signups or extended cost? What would you all recomend? I would greatly appreciate it! Thanks
  2. Paper trading blows.

    Absolutely no emotions involved. It's like banging a supermodel vs dreaming about doing it.

    Put money in the market and trade 100 share lots.

    I pray you lose money on your first 10 trades. Maybe then you will have a chance at this profession.

    I've never in my life, met a person who didn't become a Millionaire Paper trading.

    My 17 year old daughter recently completed her Economics class in school and they had to trade the stock market for 10 weeks.

    She made a ton of money on SBUX, etc... all paper friggin money.

    She said "dad, your job is so eaaaaaaaaaaaaasy." :confused:

  3. if only it was..... :(
  4. alisa


    options xpress used to anyway have a good site for that
  5. ivob


    I disagree here.

    It all depends on how serious you take it. I have ambitions to be a daytrader and I feel that papertrading has helped me a lot so far, especially to realize how hard trading is.

    This is because my rule is to ONLY go real trading when I am consistently profitable. So obviously there is a reward (real trading) and punishment (waiting before real trading) which makes me feel all the emotions which are also involved in real (day)trading. However, I suppose in real trading these emotions are stronger. Of course if you do not take papertrading very serious then it's not useful. So I guess papertrading is easier so if I am not consistently profitable in papertrading then forget about being profitable in real trading.

    So for sure it saved me a lot of money.

  6. seth711



    Can you tell me what site you paper trade on? Anyone wanna drop some names or links? Thanks!
  7. In your bathroom. With toilet paper. That's about what it's worth.
  8. ivob


    I use IB's papertrader.

  9. There is only 1 reason to Papertrade.

    If you Can't make $$$ papertading, you will NEVER make money when your Emotions are on the line.

    I still say Open an account and trade 100 lots.

    I wouldn't recommend papertrading to anyone.

  10. At least, paper trading will show you
    if you have an edge.

    Real trading will show to what extent
    emotions effect that edge.

    So, paper trading HAS it's value.

    Don't go live before papertrading confirms that your techniques work or
    trade so small that emotions don't
    get involved.
    #10     Jun 28, 2006