Your Questions About Paper Trading Stocks

Sharon asks…

Where on the internet can I do practice trading?

Where can I do some practice trading (where I monitor real stocks but don’t I don’t put in any of my money yet)? I just “paper trade”, but do it as if it is real online trading.

John answers:

Http://www.allstocks.com/

John asks…

Ok does anyone know anything about stocks?What is the current trading price of wal-mart stores inc?

I have this one thing for school to do in power point XP i know i should know all about them i know the basic stock like its a peice of paper stating that you own part of a buisness blah blah blah so on and so forth i looked it up and all i could come up with were a series of numbers and i couldnt tell what one was the current trading price so any help?

John answers:

You can find anything you want on Yahoo Finance.

Http://finance.yahoo.com/

http://finance.yahoo.com/q?s=WMT

wmt is trading at $47.49.

William asks…

Would appling the “red paper clip trade-up” to stocks work?

Those not familiar:

http://en.wikipedia.org/wiki/One_red_paperclip

Probably wouldn’t work, and I have no experience investing in stock, so I’m clueless on this. But buy an undervalued stock, wait until it’s overvalued, sell it, then find something else. OK so I know that’s the idea behind stocks lol, but hell, with some research, could it work?

Just a poor college student trying to think of a creative way to make money. Obviously business isn’t my major 🙂
In reply to commoncents (thanks for the reply btw), how much is the tax? I was thinking if this were to work, I’d have to start out with 100 shares at $5 or so (is that normal?) and would have to be undervalued, wait for it to hit $6 or so, find something else undervalued, and work my way up. I guess if something was losing money, like say I got to $10 but lost to $7 (once again don’t know if that happens a lot), I could wait and it’s likely go up or just find something else at 7. I don’t know. I’d have to actually research it.

I’m always trying to think of ways, how to “beat the system” haha. Unfortunately, most of the ideas I’ve had aren’t any better than even the “jump to conclusions” mat in office space lol. I did figure out the whole martingale betting theory on my own completely hung over though! I guess I have that working for me.
How does this “method” compare to traditional investing? Probably a lot dumber.

John answers:

Of course it could work,, but each time you sell a stock at a profit you will owe income tax on the profits, UNLESS it is in an IRA or similar retirement account that is sheltered, OR you have losses to offset the profits.

It might be easier to start with a red paper clip.
At least you are thinking on a Saturday night, instead of getting drunk (or are you already??)

You get credit for being creative,, Hang in There~

James asks…

which website is good to start paper trading on?

You know to get some experience buying and selling non- real stocks

John answers:

Several people use investopedia.com

You can also use just about any brokerage firm to “virtual” trade as well.

What’s nice about using a brokerage firm’s system is that many of the screens, etc are much closer to real and like you’d expect to use when trading real money.

Optionsxpress.com for example allows you to trade stocks, options, etc on their platform virtually.

Hope that helps!

Charles asks…

Good percentage to buy, and short stocks?

Recently, my dad has been teaching me about the stock market. I have done paper trading, and I have done pretty successfully. I have a Scottrade account set up, and I have some of my stocks ready. All I need to do is to put the money in the account. I just need a percentage of some stocks to hold, and some stocks to short. Please give me an answer soon.

John answers:

Before you “trade” or even invest there are four major items that you need to consider and have in place
1 – A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.
2 – Sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you trade/invest.
3 – A written money management program in place.
4 – A full and complete understanding of the rules & regulations of the industry.

Without having more information about your personal information, such as age, current income and other data such as risk tolerance, martial status, and demographics it would be very inappropriate for me or any other person to provide specific investment information in this type of media

Take a look at websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

At MSN following the strategy lab analysts to get a feel for what the pros are doing and why. You can use the ‘stock” tab and this will provide you research, the top 10 & 50 selections

You can also visit .http://www.rookiedaytrader.com/default.asp
http://investorshub.advfn.com/default.aspx
http://www.thestreet.com
http://www.brokerage101.com/
http://www.1source4stocks.com/

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