best places to paper trade

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tradegod

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Hi where are teh best places to paper trade - (pretend daytrade) without opening a real account / paying a fee----------preferably with the real market --

cheers mate
 
tradegod said:
Hi where are teh best places to paper trade - (pretend daytrade) without opening a real account / paying a fee----------preferably with the real market --

cheers mate
Click to expand...

FXCM, Alpari, Capital spreads....
 
I used ThinkorSwim for my PaperTrading then turned it into a funded account too. Great company, great customer support.

Know a few people who use Ninja too.

I specifically like TOS because they have a native Mac Platform. (y)
 
For day trading stocks, TradeStation's simulator mode can't be beat in my opinion. I've tried them all (except eSignal). But you do need a funded account, and the software is expensive ($200/month) if you're not trading real shares. Once you switch live trading though, it's free after 5k shares a month.
 
You can try TurTrades . It is an application that lest you practice trading using real historical market data. TurTrades basically presents a stock at random date you have an option to buy, sell or pass, you can press next day to fast forward one day to see how you did. Basically it lest you trade back in time using real historical market data without waiting to see results.

Another another place that lest you paper trade is http://vse.marketwatch.com/Game/Homepage.aspx nice thing about this is you pick a game and play against other people so there is incentive to be profitable.

Hope that helps good luck.
 
Best paper trading I have ever found on the web (simple, effective, interesting, very well made, no need to install anything):
www.chartgame.com

Emotionally, it is not realistic, because you can speed up time, but it's still paper trading, and the regular paper trading (in real time) for most people is too boring and slow. So, rather than quit at that, you might as well keep at the less realistic one, which still teaches you a lot.

Second best: Genesis Trade Navigator: it has a paper trading feature, very good one because you can trade futures with it in playback mode, so you can speed it up as well, which you can't do anywhere else I know of, with futures i mean. It has a free trial of about one month, and the software is heavy and kind of user unfriendly.

Yet, despite trying both of those simulators, and IB paper trading account (in real time, totally realistic, in this sense the best of all), I could never become profitable. But at least those simulators save you a lot of money, if you use them. I didn't use them for the first 12 years, but then they did save me money.

Overall, I think it's rare to be one of those guys who can be profitable at discretionary trading. If you don't have what it takes, it's almost impossible to become profitable at discretionary trading. On the other hand, system trading is much easier. So I'd advise everyone to start directly with that.
 
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Yeah chartgame is really cool. The only thing I don't like about it is that it only has the daily chart and you don't have the ability to enter/exit midday. Still a good tool tho.
 
the best place to paper trade is in the toilet....
seriously,folks..
if you are going to trade,then trade with a demo platform.where you actually put on the trades in the same environment as if you were using real money
imho
 
I love thinkorswim, especially their charts and how customizable and how u can code and modify the indicators to your heart's desire. However, I believe their papertrade isn't realistic, especially for futures. It's been about 2 months since I've tried their papertrade so it might've changed, but watch for how your limit orders get filled. Thinkorswim's futures papertrade seems to trigger your limit order as soon as the "real" price touches that price level. However in real trading, your orders are entered into a queue and you have to wait your turn to get your orders filled. Sometimes your orders in reality may not get filled because there hasn't been enough contracts traded at your limit order for your turn in the queue.

Waht i do is use thinkorswim for charts and use Interactive Brokers or Infinity Futures' platform for both real and papertrades. Their papertrading puts you in the queue as if you were trading for real, so it takes some time for the market to "work through" other people's orders before yours gets filled. In slow and dry markets, that makes it much more realistic because often you may not get filled, or have to change your stategy and just enter an order "at the market"

hope that helps.
 
JeffreyLin said:
I love thinkorswim, especially their charts and how customizable and how u can code and modify the indicators to your heart's desire. However, I believe their papertrade isn't realistic, especially for futures. It's been about 2 months since I've tried their papertrade so it might've changed, but watch for how your limit orders get filled. Thinkorswim's futures papertrade seems to trigger your limit order as soon as the "real" price touches that price level. However in real trading, your orders are entered into a queue and you have to wait your turn to get your orders filled. Sometimes your orders in reality may not get filled because there hasn't been enough contracts traded at your limit order for your turn in the queue.

Waht i do is use thinkorswim for charts and use Interactive Brokers or Infinity Futures' platform for both real and papertrades. Their papertrading puts you in the queue as if you were trading for real, so it takes some time for the market to "work through" other people's orders before yours gets filled. In slow and dry markets, that makes it much more realistic because often you may not get filled, or have to change your stategy and just enter an order "at the market"

hope that helps.
Click to expand...

Definitely second ThinkorSwim, once i got used to the platform and charts I really like it. However, for paper trading you do have the problem you mentioned of very very quick fills, but also there is the problem that the dashboard is 20 mins delayed quotes, but the charts are real time, and so technically you can see 20 minutes into your future. Im guessing they do this so that people will feel they are 'good' and put money in :confused:

I have heard good things about Interactive Brokers though.
 
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