Your Questions About Paper Trading Free

Jenny asks…

Which online broker offers no minimum start up fund for option trading ?

I’m student and i want to start trade option and i need to know which online broker offers no minimum start up fund meaning 100% of the fund will be used for the underlying securities.

I realize that OptionXpress do not have minimum start up requirement but they need margin account of minimum of $2000 for buying naked put.

Anyone who know about these please do come forward and explain, thank you.

John answers:

How can you buy and sell options without money? You could paper trade without money. Once you have an account number. I think you would not have to fund your account for that. I paper traded for about a year with $200,000 play money. Aft3er one year I had $400,000. So I borrowed $65,000 on an interest free credit card for a year. In one year, I lost it all. The ‘trader effect’. There is a lot to learn. It would have been best if I had started paper trading with a realistic amount, I think. OptionsExpress has a nice learning program. Good luck.

Nancy asks…

Looking for a good piece of software which can teach me how to trade?

I don’t wish to invest real money. Just a virtual trading simulator or something along those lines. I don’t mind paying something reasonable.
Thanks.

John answers:

I would suggest a paper trading platform like thinkorswim.com. Sign up is free and you can also papertrade for free. Download the desktop version. Youtube videos are also a nice tool to learn with. If you’re thinking of getting into options, I suggest Shaffer Research. If your looking for someone to help you make money, I could send you some option recommendations to help you out. Email me at openrangetraders@gmail.com

Donna asks…

How do you make a sheet of paper strong enough to hold a person or atleast a lot of weight?

For my construction class, we’re only given a single sheet of standard blank paper and six inches of tape.

John answers:

Roll the paper into a tube. Use the tape to secure the free end of the paper to itself so the tube doesn’t unroll. If you stand the tube on one end, the other end will support weight. You’ll have to trade how tightly you roll the paper with the balance of the weight – the tigher you roll the tude, the smaller the base hence teh harder it wil be to balance any weight you set on top of it. I’d recommend rolling the paper so that the shorter dimension of the paper becomes the length of the tube.

David asks…

What is Stock market? I want to invest and i want to do Online share trading?

Please help me, someone told me About online Share Broking! But i do not know anything about it! I want to invest in share trading!
and what is NSE and Raligare securities ltd?

John answers:

Go to www.nseindia.com and download about the stock trading informations. It is free to download
You may also go to www.moneycontrol.com. NSE is National Stock Exchange started in the year 1994 having Head Office at Mumbai. There are so many books on Share Trading. Read some good books. Read Finance News papers / magazines like Business Line, Business Standard, Dalal Street etc and watch TV channels , CNBC, Z Business etc.
Learn the trade before entering. PAN card / Asdhar card are required to open Demat and Trading accounts.

Maria asks…

How much money do I need to start my stock investment dream?

I know it’s possible to invest with little more than a few hundred dollars, but trading fees really eat into the return. Some stock brokers require a minimum of $1,000 to begin stock trading. What do you think? Is there a formula?

John answers:

My answer is probably more boring than what you want to hear. If you plan to invest only a couple of hundred bucks I suggest you start with commission-free ETFs, otherwise commissions will eat up all of your returns. TD Ameritrade, Schwab, Fidelity, and probably other brokerages offer commission free ETF programs as long as you keep the fund for at least 30 days. Vanguard and iShares have been competing on price a lot, so you can get a cheap exposure to the market. Take for example VYM (Vanguard High Dividend Yield) – it charges a management fee of only 0.13%/year which for a $200 portfolio equates to $0.26 beating the typical $9.99/trade for a single stock purchase. Buying an ETF also gives you a well diversified portfolio. There are also “no transaction” mutual funds that you can check out, but the problem is that they require higher minimums.
I take it that you want to learn from the experience, but you can accomplish that with “paper money”. TD Ameritrade has a trading platform called thinkorswim which you can download by opening an account there. You have the option to log-in to the paper trading or the real money account. I am only saying TD Ameritrade because my account is there and I really like their trading platform, but I have heard good things about Schwab as well. Can’t go wrong with either if you are just starting out.

Hope this helps
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