Best place for Paper Trading

Quote from NickBarings:

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.
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Agreed. I paper traded for 6 years! Its not just a matter of emotion, theres also trading technique, the daily routine of trading, record keeping etc.
 
Quote from trading1:

Agreed. I paper traded for 6 years! Its not just a matter of emotion, theres also trading technique, the daily routine of trading, record keeping etc.
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Good remark. Even Richard Wyckoff mentioned to trade NOT more than 10 shares when starting out.

You have to figure out where the weaknesses in papertrading are: eg do not use limit orders as in real life limitorders are visible and the market reacts to those. Also limit orders do not get always filled. So stick to market orders getting in and getting out, in that way it is more realistic.

Don't listen to those that advice you to trade with real money: they are not your friends, they are those who are taking the opposite side of your trades and are only interested in bringing more money to the markets by newbies and that they can exploit.

It is only a matter of time before you'll trade 10 shares when you are starting out, why do you think that you can immediately go into the ring with the heavyweights and win from them? And when your account is depeleted then you'll cannot trade more than 10 shares. So start off with 10 and then after you discover that you are suitable for this game then SLOWLY increase the number of shares so that the emoitions get a chance to get used to the higher amount sof money. There is no need for rush. If you discover that you are not meant for this game then with tarding 10 shares you still have a large part of your account left.

Maria over and out
 
Quote from fancythat:

Peregrine Financial Group and Lind-Waldock offer free simulated trading on their platforms if you are interested in futures. www.lind-waldock.com and www.pfgbest.com.
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=================
Helpful, & Maria had some note worthy points also;
and papertrading, which is more helpful than simulators alone;
and much more permanent, does several other things.

Develps good habits, true paper trading does not have the same pressure as real paper money:p , but develops good habits .
Note I am talking about paper trading which unlike simulators alone, papertrading can be studied /noted, marked after hours....

And besides a Jack Schwager top trader still does it .REASON enough right here [who makes a bout $300 million;:cool: ]
 
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