Best place for Paper Trading

Quote from rallymode:

I second that.

The only value to paper trade is perhaps test out "your system". What i mean is find out how you are going to enter and exit whatever it is that you trade given that you are serious about it which is hard to do. After 10 trades you start to enter and exit as you please since nothing is on the line. Those who think they can discipline themselves during a simulation are kidding themselves.


I also say open an account and start small. Hell even 10 shares will give you a better idea about how emotions are factored in than paper trading and it wont cost you all that much if your setups are net losers.
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10 shares?

Still NO emotions involved.

I didn't even realize you could trade less than 100 lot without paying some sort of Premium, LOL.

Mac
 
Quote from F-Trader:

10 shares?

Still NO emotions involved.

I didn't even realize you could trade less than 100 lot without paying some sort of Premium, LOL.

Mac
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Well 100 could add up to quite a bit to the inexperienced trader. I havent done any paepr trading, i am an options guy, so i backtest instead but a buddy was doing it with 10 so i figured i'd use that. Maybe not. :D

And to answer the OP's question, IB has a nice virtual trading platform.
 
Quote from 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.

regards,
Ivo
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Same here.
Papertrade (or simulated trading, the best) helps saving a lot of money, if used properly.
 
Quote from F-Trader:

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.

Mac
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That's why papertrade is useless.

Trying something which you will never in real trading.
 
Quote from WmWaster:

That's why papertrade is useless.

Trying something which you will never in real trading.
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It's like a teenager watching Porn vs having Real sex.

No emotions, paper trading sucks.

The best way is to lose money.

Everyone should lose on their first few trades, get used to it.
 
LOL, I actually agree with F-Traders sentiments entirely, even though I may have used different language. I am curious to find out if this is the kind of advice potentially given to his 17 year old daughter!!.
 
Quote from Ruprect:

LOL, I actually agree with F-Traders sentiments entirely, even though I may have used different language. I am curious to find out if this is the kind of advice potentially given to his 17 year old daughter!!.
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NO.

My daughter is very prudish and I told my wife she wasn't allowed to have sex until she was 28. :eek:

My teenage son is a different story.:D
 
Quote from F-Trader:

Paper trading blows.

Absolutely no emotions involved. It's like banging a supermodel vs dreaming about doing it.
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Not sure how old you are, but I distinctly recall a song called "Imaginary Lover"....

"Imaginary lovers never let you down"

Another thing - imaginary lovers NEVER have bad breath or bitch.

:cool:

Paper trading is good for one thing (IMHO) - to test your ability to recognize a trading signal. Could be useful for that.
 
Quote from F-Trader:

It's like a teenager watching Porn vs having Real sex.

No emotions, paper trading sucks.

The best way is to lose money.

Everyone should lose on their first few trades, get used to it.
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I'm unique.
Actually I learnt how to control my psychology through simulated or paper trading. Odd enough? :P

I won't trade if I won't practice enough to control my psychology when trading real. Without simulated or paper trading, it won't give me the confidence, familarity etc. to keep me (nearly) emotionless when trading real.

To me, I treat real trading the same as sim trading. What I do in real trading is exactly the same as what I do in sim trading, including emotions. Putting real money at risk will not affect me (much).

Anyway, forget it as most people will not understand.

Try to trade small and learn how to control your psychology.
 
To me, the benefit of paper trading is primarily to get a handle on using the trading software (platform) and understanding the mechanics of placing an order, amending an order etc. You're probably going going to want to compare some different platforms to see what suits you best. We can get you a free live demo on any of our futures platforms or our forex platform. There's no fee and no obligation to use the demos. Feel free to check our website, or better yet give me a call and we'll try to figure out what platform would suit you best. We only deal with futures and forex though.

www.globalfutures.com phone:1-877-367-3177

Best regards,
 
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