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Stock Market Simulators & Virtual Paper Trading Platforms

4 Stock Market Simulators & Virtual Paper Trading Platforms

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Stock Market Simulators & Virtual Paper Trading Platforms

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  1. Stock Market Simulators & Virtual Paper Trading Platforms As you start to research investing, you’re bombarded with a slew of information about how to invest, different investing strategies, and the types of stocks you should be looking for. Many investors research for weeks or even months before risking their first dollar. WWhen you decide that it’s time to pull the trigger and make your entrance into the stock market, you may feel a bit overwhelmed. You’ve done the research, chosen a strategy, and picked some investments you believe will perform well. But there’s no assurance that things will go as you plan — especially if it’s your first time putting money in the market.

  2. What Is a Trading Simulator A trading similar is essentially a copy of the stock market on a virtual trading platform. These virtual platforms provide market data like you would generally see in your active trading account. In your active trading account, your trades are made using your money. So, when you lose, you lose real money. With these virtual platforms, you’re trading with virtual money, or paper money, that has absolutely no value. With this virtual money, you can make investments in the market in a virtual environment in real time. If your strategy is successful and you’re making plenty of virtual cash, it’s time to try your hand in the real world with real money. If your strategy leads to losses the majority of the time and you’re blowing through your virtual money, there’s no harm done. It’s time to tweak your strategy and put it to the test in the virtual world until the tweaks create a winner.

  3. 1. Thinkorswim by TD Ameritrade TD Ameritrade is one of the most popular discount brokers online today, with its newest trade desk, thinkorswim, being designed by traders for traders. As you would expect from a leading brokerage and intuitive platform, thinkorswim comes with one of the most intuitive virtual stock market experiences online today. Not only can you test your strategies in the open market, you can do so with a wide range of assets that make finding and assessing opportunities simple with best-in-class tools and charts.You can see it for yourself by signing up for free without so much as a requirement to open a brokerage account. 2. Pilot Trading

  4. Pilot Trading is a multifaceted financial platform focused on providing services to active traders. The company’s claim to fame is its algorithmic trading signals, which use psychology-based artificial intelligence to provide an overall profit or loss score based on market perception, commitment, equilibrium, and sentiment. In an effort to build confidence in the provided algorithms and knowledge of the Pilot Trading process, the company offers a paper trading environment, allowing you to practice in a lifelike trading environment. Here are the most exciting perks to using the virtual platform: 3. Apply Mulch

  5. TradeStation is one of the most popular online brokers for active traders. The platform is free to use if you 1) make at least five trades by the 12 month-anniversary of the date you open your account or 2) maintain an average end-of-month equity balance of at least $2,000. The TradeStation platform isn’t necessarily geared toward passive or long-term investors. Nonetheless, day traders love the offering, which comes with a free trading simulator. If you plan on active trading, it’s a great broker to work with. Moreover, the company’s demo trade desk offers all the tools you’ll need to test your strategies and make sure they’re effective before you start trading. 4. NinjaTrader

  6. NinjaTrader is yet another highly-trusted broker specifically focused on active traders. If you plan on jumping into the world of day trading, the company’s simulator is a great way to try your strategies with virtual money rather than risking the real thing. The one downside to the company’s practice platform is that you’ll have to download software, unlike other offerings that are available for use online. With the exception of that one pitfall, the software is some of the best in the business and well worth diving into, especially since it’s free. With the simulator, you can see how your trading strategy would have done on a historical basis, as well as in real-time. This backtesting capability isn’t a common tool and will prove to be overwhelmingly valuable when testing your strategies. Address: 79 Old Ridgefield Road Wilton, Connecticut 06897, USA H T T P S : / / W W W . H A M M E R S T O N E M A R K E T S . C O M

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