Newbie with a few questions

[esljobs]

Hi everyone. Been lurking around this forum for the last month or so. Some great info on here especially for a newbie like myself. A lot to digest but very interesting indeed!

Firstly my experience in trading. 0%. However, been doing a lot of book reading and have got the gist of a few things, i think. I've been mainly focusing upon trading stock on the NYSE.

I know I have a long way to go. Getting a trading plan together etc but I'd really like to try my hand on a free trading simulation program. Does anyone know of a free stock trading simulation program out there that is fairly newbie friendly?

Thanks in advance.

 

[timsk]

Hi esljobs,
Welcome to T2W.

To trade, you'll have to have an account with a 'broker'. Brokers come in all shapes, sizes and guises. That said, just about all of them will let you paper trade a demo account, if only to enable you to get used to their trading platform, charting package and other software. So, having decided you want to trade U.S. equities, your next task is to find a broker that enables you to trade them. To some extent - some would say to a large extent - this is dictated by the type of trading you want to do. If you're a day trader wanting to use Level II - you'll probably want a direct market access broker with $25k+ in your account. You may just want to swing trade over a few days, in which case you may be happy with a spread betting or CFD provider.

If little or none of this is making much sense, head over to the Trading FAQ forum and get stuck into the appropriate threads, and the fog will start to lift.
Enjoy!
Tim.

 

[esljobs]

Thanks for the reply. Like I said I still have a lot of ground to cover yet I'm getting the gist of a few things but it's the new terms presented on mass that are a tadge confusing. Still I'll head off back to the first steps section and continue on with my journey from there.

Thanks for the info

 

[jfcapitaluk]

Hi everyone. Been lurking around this forum for the last month or so. Some great info on here especially for a newbie like myself. A lot to digest but very interesting indeed!

Firstly my experience in trading. 0%. However, been doing a lot of book reading and have got the gist of a few things, i think. I've been mainly focusing upon trading stock on the NYSE.

I know I have a long way to go. Getting a trading plan together etc but I'd really like to try my hand on a free trading simulation program. Does anyone know of a free stock trading simulation program out there that is fairly newbie friendly?

Thanks in advance.

well your best bet is the free/simulated cmc markets or ig markets, they have platforms that allow you to simulate CFS and spread betting inc the NYSE, also bullbearings offer a free service for more "buy" side stock trading, have a look at jfcpaitaluk.blogspot.com for ideas and trade opportunities, plus there is a good glossary section