Today I would touch on stock-trading simulators, the next logical step from paper-trading. Our main aim is to trade and gain that trading Midas touch and be in Zen with the market, such that each time we put dollars into the market, we have a positive expectancy of X dollars profits/dollar invested. We know we are in for the money and this skill does not come out of nowhere. Basically it must come from your CEK, i.e. capital, experience and knowhow. Suffice to say the more capital one has, more times you trade or better still the longer you survive in this trading, the more knowhow all translates to a, hopefully, successful trader.
Hence this is where today’s blog comes in whereby for a mere online registration you have access to the best software for stock trading simulators and hence immediately you can put your trading plans, ideas and mind to work. The actual learning begins here. This is the real thing, not words, philosophies, formula nor concepts playing in your head!
There’s several websites offering such simulators and, finding them is a cinch, since when you type, “trading simulators” in Google search, and lo! Hundreds of such sites will appear. Many of them are offering free trials and you should take advantage of them. Try a few, say 2, and learn to operate and get used to their software. It is quite straight-forward registration and you should not face difficulty here. Anyway, here’s some links for example;
After registration, the game of making money begins. The whole point of learning how to be a successful trader comes to this – to make money. This is live stock trading game with real quotes and you are trading without risking your hard-earned money. This is where your investment strategy is put to the acid test. It’s time to do some hard decision, number crunching and what’s more it’s online.
Some sites allow you to compete against each other, and ranking is performed as you are not only competing against yourself but others. This simulation allows you to trade a myriad of portfolio, though, stick to basic stocks, nothing fancy unless you want to show off and burn down faster. Here you learn how to monitor stocks, place orders, put your theories to test and compete with the best or worst.
Hence all this blogging on becoming a successful stock trader leads here; compete or perish.
Happy kaizen trading!