Your Questions About Paper Trading Site

Donald asks…

what is a good paper trade internet site?

I’m looking to get into the internet stock market. I’d like to get some practice in before i go into the real deal. Know of any good sites?

John answers:

WELL THER ONLINE INTERNET SITES ARE REALLY BLOWING UP RIGHT NOW. BUT BE CAREFUL AND CHEK WITH BBB.COM ONLINE TO SEE IF THE COMPANY IS LEGIT. HERE IS ONE. IT GIVES YOU THE TOP 3 LEGIT WEBSITES TO WORK FROM HOME. I AM A FULL TIME STAY AT HOME MOM AND IT WORKS FOR ME. BEST OF LUCK http://www.myreviewplace.com/nat2004.html

Lisa asks…

Is there a site where you can trade foreign currency with people online? Like paper and coin money?

I know it is a dumb question but is there a site? Thanks

John answers:

Forex.com

Maria asks…

paper trading in currency and copper futures?

Hi,
I am thinking of investing beyond equities and want to try currency and copper. But first I want to do some dummy trades. Any suggestions on where to start (any book or site providing step by step instruction)? I want to have a real feel with the margin requirements, volatility, etc.

John answers:

For automatic trading, you need to do with
TradeStation (powerful backtesting tool and trading platform) http://www.tradestation.com/default_2.shtm

or MetaTrader(convinient and free, not serious for backtesting purpose, can work with many brokers) http://www.metaquotes.net/downloads

For discretionary trading, you can work with Oanda(web based platform) , the link below explains the margin based trading rules in details. With the rules, and some dummy trades on their platform, you know the steps:
http://fxtrade.oanda.com/help/
Oanda can also work with APP automatic trading if you like.

If you prefer a funny nice guy rambling things around, telling you this or that and all that dummy questions on beginners mind, go here: http://www.babypips.com/

Sandy asks…

is there any web site where i can sell buy trade old paper money and coins (ext Ebay and Coinbug.com)?

I have old money from 1700 to 1990 paper and coin us and Other some sliver some gold need to find a web site to sell buy or trade No Ebay or Coinbug.com im sell on both
Thank you
AMH

John answers:

Http://www.mycashforgold.info

William asks…

what is “paper trading” with the stock market…how do u do it…imean on real paper, no online program stuff

i want to learn about the stock market and this “paper trading” i cant afford these online programs ect…cause im 17 and broke…i have a friend whose cousen dose this, he reads investors buisness daily everyday and records his profits and losses, he started with 5,000…….hes 6! he dose paper trading….i want to learn this so if u can direct me thanks if not direct me to a site that teaches it…..

THANK YOU!!!

John answers:

Write down how much you have to invest.
Decide when you are going to buy or sell a stock, at the day’s open or close and use that price. Decide the day when to buy or sell the stock and then write down the number of shares and its price/share. You can get your stock price data from the news paper or on-line sites such are finance.yahoo.com or bigcharts.marketwatch.com
Keep track of your transaction on a spread sheet, such as Excel, or use pencil and paper.
Create the columns; Date, Stock, #Shares, Price, Profit/Loss
To learn from your mistakes, keep track of your reasons for each buy and sell. Go back and review your results and improve your system. Check out the Yahoo group ComputerProgramPicks. Best of luck to you. Having luck is executing with a prepared mind.

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