As said prior... Once you know the ins and out of your platform and how you will use it, sim trading has no benefit. Of course, if you are like the poster previous to you and you don't have a system or know how to read charts, you are no where ready for the activity of trading, in any format.
trade 1 share if you have too or a insignificant amount. Paper trading doesn't take a lot of things into account
Practice is not simulation. The mechanics of enter and exiting, moving stops, determining position size need to be worked on of course to ingrain them. Simulating ... if only I bought here and sold here I would have made gazillions is fantasyland waste of time and energy. A lot of top athletes like sports related video games. But they know the difference between a game and their actual practice. I would think most traders in this profession know the difference as well.
Disagree completely. Trading is better because it DOESN'T have any inventory, employees etc. And many business people make terrible traders. Just like the rest of the population - at least as much as any other endeavor.
That's correct, but there are far more rich businessmen then traders. Trading is much more difficult, succesrate is far lower then for businessmen.
I give feedback to my clients’ paper trades - so in our particular circumstance it is a most valuable learning tool. We are also tracking performance metrics. YMMV. It is what you make of it.
I believe that nothing happens in vain and no matter how it sounds, it is also an experience. Of course it will not be a waste of time in the shuffle, I can not know what will happen tomorrow but so far there is a plus.
%% Good points; not that i'm against Fed reserve paper notes [$$]. Paper trading can help+ learn levels ; not near close to real trading.