New to Day Trading, looking for a simulator.

Discussion in 'Trading Software' started by JoeWunsch, Sep 8, 2005.

  1. JoeWunsch


    Hello everyone,

    I am currently a webmaster, but I am interested in learning about and dabbling into daytrading with stocks. Last few days I have been playing around with Forex and trading currencies, with their 30 day free trial.

    I am curious if there is any company or similar that offers the ability to simulate day trading similar to forex's system, all of the stock simulators I have been able to find are not similar.

    Thanks for the information in advance.

    Joseph Wunsch.
  2. rwk


    I cannot recommend a specific simulator, but I advise extreme caution in using any simulator. No simulator can tell you what it feels like to trade, nor indicate how well you are likely to do. That said, there is some limited benefit in using a simulator in learning to use a particular trading platform. In that case, your preferred trading platform would dictate what simulator to use.
  3. Bowgett


    I think you should start with stocks first. It will take you longer to blow up your account so you will be able to learn more. With Forex you can blow up in one day.
  4. wabrew


    You might try this -- I have no idea if it is good or bad. I do know their commis rates are very high - more so for a beginner.

    Assume you understand all the 'use at your own risk' caveats
  5. 1- don't daytrade.
    2- if u you do daytrade, have a plan
    3- daytrading is only viable if you are a broker.
    4- see #1
  6. mikeyd


    Open an account with Interactive Brokers and use the front end Zero Line Trader this will give the closest to realtime live trading on a good platform in a simulation mode without risking any cash. Unfortunately simulation is no where near good as the real thing but this is the best I have found. Then when your ready turn off simulation mode and go.

    Good Luck
  7. JR97