Does anybody know of any free paper trading platform where you can practice trading options and use Market-on-open and Market-on-close option trades. All of the free practice stock trading sites I came across so far only allow generic market orders. Does anybody know of any one that allows those type of order timings?
paper trading question
- Thread starter ksda
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rmorse
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Just so you know, market on close and market on open orders in options are very different from stock MOO and MOC. In stocks, you would choose the primary exchange and have some expectation of liquidity in stocks that do a fair amount of volume. With options, there is no primary exchange except for single listed options. There is no protection on the open from bad pricing. MOC orders are generally given to a MM on a best efforts basis. Execution can be terrible. In fact, MOC options orders might be executed well before 4pm.
You should never, IMO, use those orders types for options.
You should never, IMO, use those orders types for options.
Well, there are so many paper trading platforms I used to like, because I personally learnt a lot from here. As I used these platforms at early stage of my career as a trader. These platforms boosts my career. I came to know the basics from here and gained so much practical knowledge of trading.
Paper Trading Platform - Basically paper trading (trading simulators, virtual trading, stock market games) lets you practice investing, trading, gain experience, and learn the game without risking your life savings.
Paper trading or trading simulators are extremely useful for practicing new strategies, refining your technique and approach, and learning about new facets of trading the market.
Trading simulators lets you practice as long as you want, make all the mistakes in the world, and gain experience for no cost and no stress. Most people can’t live off of their investments is losing too much money trying to learn the game. But as you can see, practicing with trading simulators, along with a trading coach and investment books, there’s no reason to lose a lot of money to learn the game.
However, there are a few different styles of paper trading simulators: Paper trading platforms and strategy & technique simulators. Paper trading platforms are the regular paper trading tools that you can use to practice investing in the market. Strategy & technique simulators can provide pseudo data in “real-time” to help you understand trends, market updates, techniques and strategies.
* Important - One of the best ways to get realistic fills is using interactive brokers paper trading account. You can set it up with bracket trader or something like that and use it as a regular account. You need another program for charting, Quotetracker will do just fine. Little or no cost.
Or you can set up an account with Mirus or AMP and get Ninja or AMP global, (or Open-ecry), charts.
Hope it helps
Paper Trading Platform - Basically paper trading (trading simulators, virtual trading, stock market games) lets you practice investing, trading, gain experience, and learn the game without risking your life savings.
Paper trading or trading simulators are extremely useful for practicing new strategies, refining your technique and approach, and learning about new facets of trading the market.
Trading simulators lets you practice as long as you want, make all the mistakes in the world, and gain experience for no cost and no stress. Most people can’t live off of their investments is losing too much money trying to learn the game. But as you can see, practicing with trading simulators, along with a trading coach and investment books, there’s no reason to lose a lot of money to learn the game.
However, there are a few different styles of paper trading simulators: Paper trading platforms and strategy & technique simulators. Paper trading platforms are the regular paper trading tools that you can use to practice investing in the market. Strategy & technique simulators can provide pseudo data in “real-time” to help you understand trends, market updates, techniques and strategies.
* Important - One of the best ways to get realistic fills is using interactive brokers paper trading account. You can set it up with bracket trader or something like that and use it as a regular account. You need another program for charting, Quotetracker will do just fine. Little or no cost.
Or you can set up an account with Mirus or AMP and get Ninja or AMP global, (or Open-ecry), charts.
Hope it helps
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(Someone who lost a lot of money trading options without knowing what he was doing, now bashing options using poor spelling/grammar.)
Someone who can't trade normally
Someone who can't trade normally thinking they can do something clever with options
Someone who can't trade normally thinking they can do something clever with options
I notice you're from the UK...so you would be trading European-style options. European options are kind of like gambling,or futures...it's kind of an all-or-nothing risky bet.
US options are less "shite" instruments to trade. You're not restricted to exercise only at expiration.
Weekly options are even more 'sexy', than traditional monthlies.
Forex is much better to trade, very liquid, very trendy and you can hedge your position just the same, just can't see the point in trading options, sorry
Forex is completely foreign to me. I briefly once opened a demo Forex account just to wing it, try it, gamble it. I essentially got nowhere, just lost money. -- But then again, I was practically just treating it like playing roulette...betting on a color, or like playing blackjack.
How much can you make trading Forex on a daily, or weekly, basis...percentage return-wise?
With Options...you can make anywhere from 1% to 100+% -- and the upper range of that...is not That rare, or once in a blue moon only.