Your Questions About Paper Trading Options

Sandy asks…

a website for paper trading?

I have found many that simulate the stocks. are there any that simulate options trading?

John answers:

Investopedia.com has a simulation with options.

Sharon asks…

Can I open a options trading account?

I have really bad credit. Can I still get approved for opeing a scottrade options account? I already have an account open with scottrade with margin trading activated. I just want to activate my options trading on the same account also. But i have horrrible credit. I have filled out the paper application and im about to send it into the mail. On the questions about net worth, income, employment, I may of had madeit look alot better then the truth. Basicly I beefed up my application with lies. Will I get approved for options trading still?

John answers:

You can i guess

Carol asks…

Best trading platform for beginners?

I’m looking to start out in the world of investing and am curious as to which brokerage is the best choice for a beginner. I have heard great things about Tradeking, optionsXpress, and Scottrade, and I have been using a paper money practice account on TDAmeritrade’s Thinkorswim platform so I am already somewhat familiar with that. Which firm is the easiest/best for a beginner to learn? I am looking at mostly trading stocks and options contracts, I don’t want to get into futures yet because they’re too risky. If it helps any, I have a decent understanding of the market and I follow it pretty religiously.

John answers:

“easiest/best for a beginner?” That’s quite a conglomeration of oxymoron’s. If you don’t want to learn, just forget it.

Your beginning question starts out asking about a “trading” platform. But your explanation changes to “the world of investing.” If you just want to invest, which means very little intraday trading, you can get off really cheap with end-of-day data on just about any platform.

A dedicated “trading” platform is altogether different than investing through a web browser. If you want to trade, then read on.

“Simple” to use is good, so you don’t make mistakes, but full-featured is better. You will not always be a beginner, and will have to learn the business if you’re going to do it. Fast, timely fills is more important than cheap commissions. Having the ability to trade anything, including futures, may keep you from having to switch in the future (always a pain).

I’ve seen a lot of people switch from TradeStation to TOS, but I don’t like TOS because they won’t let you export the chart data and store it or use it in other programs like Excel. Maybe that has changed.

I like the simplicity of trading from a price ladder through NinjaTrader. I’ve never made a mistake entering an order from the ladder, whereas I made plenty of mistakes entering numbers the old way. The ladder also handles all stops and gives a good visual of where price is moving within the depth of the market relative to my stops, and also handles ATM Strategies, like multiple positions and stops and targets and trails. All of it is set out ahead of time on the ladder.

Download a free trial and check it out. To use all of the features, you have to pau, but can use it free with most of the important stuff, You just can’t trade from the chart (like I said, I use the ladder anyway) and can’t use advanced ATM strategies without additional fees. The futures and forex data feeds are free through ZenFire, but you’re not ready for futures yet, so maybe this isn’t for you. You can do stocks with a $45/mo data feed.

Http://www.ampfutures.com/index.php

http://stockmarket.makemoneyideas.in/
http://simulator.investopedia.com/home.a… (simulator, and finance terms and definitions)
http://www.fool.com/school/basics/basics…
http://beginnersinvest.about.com/library…

Laura asks…

Trades/Other College Options?

My daughter is a senior in High School and is undecided on a major. She is planning on attending the local community college for her first year. But I don’t want her to go to college for 4 years and end up with a piece of paper that millions of others have who still haven’t found work to match their degree.

I am encouraging her to possibly attend a trade school to learn not only something that makes her more marketable, but also something she would enjoy. When I think of trades, the more masculine ones come to mind. But I was wondering if anyone had any ideas on specific trades tailored more toward females.

Thanks for any ideas.

John answers:

Well, there’s always beauty and culinary school (though the latter’s oversaturated), and technically things like jewelry-making and decorating are skilled trades. But really, if you know your daughter well enough to know that working with her hands isn’t something that naturally appeals to her (at least, I hope you’re not trying to find more “feminine” options for her just because she’s a girl when she really might enjoy something like plumbing or electrical maintenance), maybe you should concentrate on helping her figure out how she can pick up practical experience through part-time work and/or internships that will set her apart while she’s working on a degree instead. I’m not saying your instincts are bad: college isn’t for everyone, and skilled tradespeople certainly don’t get the kind of respect they deserve. But if you’re really committed to making sure she ends up in a field she’ll like, you need to let her take the initiative in doing the research into what it’ll take to succeed and hold back on the doom-and-gloom predictions unless her plans are clearly unrealistic and/or she doesn’t seem willing to accept the sacrifice they’ll entail. It’s the only way she’ll become a self-sufficient, independent adult, regardless of how her career prospects shake out.

John asks…

Term paper due tomorrow!! Please help me find information so I can write it!?

All students will write a short paper (6 enumerated pages double-spaced). Students have two research options, both rooted in a comparative politics framework. It may either compare 2 countries (not necessarily those covered in class) or structures/arrangements in dealing with conflicts; or comparing 2 countries in their approaches to European Union policy issues.
Here is my topic.. please give me links so I can type my essay!
“for my final research paper I intend to discuss and compare the international relations policy of Britain and Germany. In doing so I plan on exploring the issues of trade, military systems and national defense.”

John answers:

Try scribd.com (beware of random users ‘masterpieces’, lol… But there’s a lot of published ‘stuffs’ there available in pdf and/or txt format) or the ‘books’ section in google.

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