trading simulator

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crazyhorse's picture
crazyhorse
Status: Bronze Member (Offline)
Joined: Nov 16 2008
Posts: 56
trading simulator

I am interested in diversifying 1 or 2k of money in a brokerage account.  New to trading and want to practice before making some costly mistakes.Smile

Has anyone here used  (or know of) an online trading simulator where you use "virtual money" to trade with?  I thought there were sites out there that could do this...

Also, any recommendations on which online brokerage to use?  I am leaning towards Tradeking right now.

ed2011's picture
ed2011
Status: Member (Offline)
Joined: Aug 21 2010
Posts: 6
Re: trading simulator

This is just my two cents but if you only have 2k to invest, you are better off saving it, especially if you aren't a very experienced investor.

My experience with trading similators is that do not help. All they do is give you a false sense of security. Good luck!

crazyhorse's picture
crazyhorse
Status: Bronze Member (Offline)
Joined: Nov 16 2008
Posts: 56
Re: trading simulator

We all have to start somewhere, no?  If anyone can answer my question in a constructive manner, it would be appreciated...but please, no "you are better off not even trying" advice. 

earthwise's picture
earthwise
Status: Platinum Member (Offline)
Joined: Aug 10 2009
Posts: 848
Re: trading simulator
ed2011 wrote:

This is just my two cents but if you only have 2k to invest, you are better off saving it, especially if you aren't a very experienced investor. My experience with trading similators is that do not help. All they do is give you a false sense of security. 

And besides,"You'll shoot your eye out!"

crazyhorse's picture
crazyhorse
Status: Bronze Member (Offline)
Joined: Nov 16 2008
Posts: 56
Re: trading simulator

I know there is a wealth of trading experience on these forums...No recommendations?

Jbarney's picture
Jbarney
Status: Silver Member (Offline)
Joined: Nov 25 2010
Posts: 233
Re: trading simulator

Hi Crazy Horse,

I found your post interesting, as I too, am starting to think trying to invest a little money.  To avoid a bit of the risk, I would suggest starting out really small, perhaps a portion of the 2k you might invest, and picking specific stocks or mutual funds.   It limits your exposure, yes, but also any potential rewards.  This is just advice from someone very much in your situation.

As far as trading simulators, I have nothing to suggest, never used them.

 

Jason

m111ark's picture
m111ark
Status: Member (Offline)
Joined: Jul 3 2008
Posts: 9
You've probably gotten no

You've probably gotten no decent responses because anyone who's traded in any market knows $2,000.00 is not nearly enough to even begin to think about trading.  You didn't even mention what you're considering trading? options, stocks, futures, forex???  Since you seem determined to trade, take a look at thinkorswim, trade monster.  Spend 2 or 3 years on thinkorswim at least, you'll soon understand what we mean.

silvervarg's picture
silvervarg
Status: Bronze Member (Offline)
Joined: Mar 28 2010
Posts: 57
Re: trading simulator

You don't really need a program to do any simulated trading.
Just write down the virtual cost of purchasing including fees and eventually the virtual cash you get after selling including fees.

Assuming you don't trade very frequently this works fine.
You should not consider trading very quickly unless you are very experienced and have lots of cash.

With small funds I would rather suggest that you put them in a relatively safe fund. My suggestion for a safe fund would be something that invests wide in things like precisous metals, industrial metals, food, energy etc.

The risk will be very low, and the return on investment is likely to be from okey to good (but probably not great).

 

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