ib paper simulator. is real time. personally i would just put a couple thousand on the line and start trading. this for me is how u will really learn.
I've been paper trading S&P future minis with Think or Swim for several months... so far it's been great. Everything is in real time except level II and Depth of Market. Other than paper trading I don't forsee myself using ToS because it's over cluttered and complex. Complex in the sense that entering a OCO order takes way to many steps for my trading style and vehicle.
No it's not. This is from the IB website: "The TWS demo mirrors the actual TWS in both form and function except market data is simulated based on the previous week's ticks and orders are not actually executed and cleared." How can it be real time when "The IB TWS demo is available from 00:20 - 23:50, seven days a week"? For me this is a good (or rather fast) way to lose a couple of grand.
there are two types demo and paper trading. demo trading is delayed paper trading is not(it's actually called papertrader). papertrader needs to have a funded account. that's why a put paper trading and not demo trading.
As previously stated, IB has a demo which is delayed, and IB also has a great paper trading acc't which is real time.....but you have to have a real IB account and must have already funded it.
or you can put 500 hundred in a scottrade account if you don't want to use margin or short. maybe cheaper elsewhere. if you have a plan, cut losses quickly, and let your winners run that shouldn't happen or it happen slowly. hey you can make some money too. even if you did lose. try to learn from your mistakes and it will make you a better trader. losing is part of the game, you just have to have bigger winners than losers. im guessing from your other post that you haven't traded live yet. when you lose a couple grand in demo trading is there any pain involved or emotional highs or lows? i'm not saying using demo trading is useless but you will learn alot more if you trade live. in demo it's not that intense. When your trade is in the red are you hoping the trade will comeback? or if it's in the black are you elated? in trading there is alot of emotions and psychology involved. once you put your own money on the line your emotions are charged and hope and greed come into play. youll also be forced to learn discipline with the rules i mentioned above. i'm still still dealing with those rules but getting better every time i place a trade. especially letting winners run, it can run way more than i expect quite a few times. i'm also trying to get better at having less emotions involved. in this game your just really trading against yourself.
No, I am trading live already (started a few weeks ago). And doing OK actually. In large part thanks to a month of daily paper trading (mainly while waiting for my account to be set up and funded). Everything you have described above can be done without actually losing money (and a new person will lose money when learning to trade). Which is the whole point of paper trading. Real life is not the same but simulated trading helps avoid stupid mistakes stemming from not knowing the platform, the way stocks move, not knowing how certain orders are executed, etc.