Your Questions About Paper Trading

Helen asks…

Where can I find a good site for paper trading?

I was wondering if anyone knows an online website which offers free paper trading. I am starting to get into the stock market and I would like to first start out without using real money. Does Yahoo Finance offer anything? Any suggestions would be great.

John answers:

You could also try WSS as they are probably the best virtual trading site.

They also do free virtual trading competitions that make paper trading a bit more interesting. They are good fun and some of the prizes are pretty good.

Michael asks…

Where can I find a site to do paper trading free?

I went to optionsexpress, however, they are asking for my banking information. I do not want to give this yet until I have done some paper trading, first. Can anyone help me?

John answers:

Investopedia has a free simulator:
http://simulator.investopedia.com/home.aspx

John asks…

Do you have to register as an agent for waste paper trading?

hi,I am a going to act as a broker between the sellers and buyers in the waste paper industry,as I am new to this trade,I would like to know ,do you have to register as a broker or agent in U.K?

John answers:

Talk to your Council, you will need some sort of licence.

Sharon asks…

What is the best approach to paper trading stocks, specifically Options?

I have read a few books and have become interested in stock options. I am a looking for a way to test myself without losing my shirt. Ultimately, my goal is to work from home around trading hours so that I can support my children in their after school activities. I don’t need to be rich but it would be nice to be self sufficient.

John answers:

I personally use “thinkorswim” trading platform. Their trading software is made specifically for options – and they are a very nice group of people who like to help people. You can call anytime and they answer questions. They have a paper trading account for options – you would have to open an account online, but you don’t have to fund it right away. Once you get the account open, you can paper trade every day as if you were using real money. Then when you are ready you can fund the account at that time. This is very advisable for trading options. I don’t know where you live but they have many free option trading courses – because they want you to learn and use their software (which is free as long as you have an account with them). Some of the courses are the same as others out there that are charging lots of money for.

I would think this paper trading platform for options would be what you need.

Chris asks…

Which of the free finance websites has the best paper trading set up?

I need a website that are accessible to others so that I can teach them trading techniques.

John answers:

Have you considered http://simulator.investopedia.com ?
You can set up a private game with different portfolio limitations. Not sure about public access to your account though.

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