Summer is finally coming! Rubbing your hands, you leaf through a few brochures… Great pictures, wonderful places… Awful prices! “Well, even this year”, you think with disappointment, “it’s going to be the cheap holiday on a third-rate camping site – as usual!” Never mind, still, you will go to Barbados when you retire and have all the time you want at your disposal. You wish! But when you think about your pension, do a bit of maths, you end up thinking that you’ll be lucky if you can afford more than soup and water every now and then… And still, you haven’t set aside your children’s college money! It all looks a bit discouraging so far. But you are resourceful: you open the papers and look for a second job… After a few minutes, the picture is clear to you: you are either too old, or too young, too qualified or too inexperienced; plus, for every job, there are thousands of applicants. You may as well be reading the obituary!
But then a sudden idea comes to your mind; you have been following the finance and economy news in papers and on TV for some time, so, why not invest in stocks? In the end, there are those who make huge profits! At least, so you think. But you are a wise person… Before diving in headfirst, you do some research: the real data shows that 98% of all new stock traders make no profit at all! In fact, they end up losing their money instead! This is not encouraging, we must admit. If you have your wits on you, you will certainly agree that you need a lot of know how and, in particular, experience before you invest your hard earned money at the risk of losing it. Wise decision!
But how can you do it? How can you gain experience in the stock market without using money? It sounds impossible… And here’s where you are wrong. Yes, because there is a way of practicing stock trading completely safely, and without risking a single cent of your money. It is called Paper Trading.
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What Is Paper Trading?
This is an innovation in the stock trading business; it means that you join a website, or online tool, which allows you to study stock trading, including investing virtual money in stocks, thus you can learn all the basics of this trade, like:
- Reading short and long-term trends.
- Understanding how companies behave when stocks fluctuate.
- Learning the rules of demand and supply.
- Working out the reactions of investors to the news.
- Devising an investment strategy.
- Learning to follow the market closely, using indicators to help you.
Yet, what is even more important, is that you will gain real practice and experience. Unlike reading up on the topic and studying theoretically, paper trading gives you what you really need to avoid ending up like the 98% of new traders we have talked about: hands-on experience. And all this, let us remember, without using (and losing) real money!
The Best Paper Trading Tool
There are a few tools on the net, but, having looked around and done some detailed research, one really stands out as having all the features you really need: papertrading.io. This easy to use online tool, now with updated features is both comprehensive and practical. With a friendly layout, it allows you to learn all you will need before you start investing for real and this may (and probably will!) save you money! Just check it out.
The graph: your main tool, of course; this gives you the value of a real stock you follow day by day. On each day, you have the high price, the low price, the opening value and closing value. This allows you to see the fluctuation of your stock during the day. Moreover, and this is extremely useful, it also gives you the past history of the stock. This is essential to study the stock you are following in a professional manner. You can adapt the graph to suit your needs: you can see the stock’s values over one month, three months, six months, a year or the year to date. On top of that, the graph is zoomable!
Your account: you are given $100,000 to start with; you do not need to invest immediately, in fact, you can buy stocks whenever you want. Your balance is automatically updated whether you lose or make money.
Stock indicators: you are provided with the volume of the stock, as well as other indicators, including the moving average (the average value of the stock in question), the relative strength index (which calculates the momentum of the stock) and the moving average convergence divergence indicator (which you can use to know when a trend, rising or falling, may end). You will need all these to decide when to buy and when to sell, and you can do it with your virtual money and with all the necessary data instead of learning it the hard way.
Stock databank: papertrading.io has a huge databank of real stocks to study – 500! This is very important because it gives you the breadth and variety of stocks, companies, and scenarios that you will encounter when and if you decide to go for it and invest your real money in stock trading.
Fast-forward: you only need to click on ‘next day’ to move forward in time; this way, you can study at your own pace and skip stocks you are not interested in.
Have a second chance: with papertrading.io, you have the chance of restarting the simulation; this way, you can really learn from your mistakes. Consider how important this feature is… How many times have you wished that you could turn back time? Now you can with papertrading.io!
What Other Skills Will You Learn?
With papertrading.io you will learn a lot of skills through practice; these include how to use stock indicators; how to predict a trend using them; how to invest in real stocks; how to buy and sell at the right time and other important skills.
What is more, this tool is designed to teach you how to learn to invest before you lose any real money; it is the only safe way of getting studying stock trading with no risk at all. There are, in fact, many types of investments, and papertrading.io gives you a chance to practice them all! This way, you will learn which type of investment, company, or stock is best for you before you open your wallet! Isn’t this what you really need?
Many people lose money especially if they are new to this unforgiving business because they make the wrong decisions. This is because they have not developed an investment strategy. This is possibly the most important lesson to learn if you want to be successful at stock trading. Well, with papertrading.io you can learn just that; by studying trends, learning to use stock indicators and real practice you will learn to plan and carry out an investment strategy that suits your budget, needs and even personal style!
A Final Word
If you thought that you could just start trading in stocks, without having any practical preparation, you were mistaken, and at risk of losing quite a lot of money. Reading this article will have given you a clear idea that this is a risky business, and that the only safe solution is paper trading. Better safe than sorry!
You will be surprised to learn that even professional stock traders use the very same indicators you will get from papertrading.io! So, use the tools a professional has at his or her disposal, without risking your money, and learn what you need to avoid dangers along the way.
Are you not convinced yet? You should be by now, but if are a really tough cookie, and need to try things with your own hands before believing, well, you are in luck indeed! Yes, because papertrading.io is currently running a promotion: you can have a $1 trial right now! You have nothing to lose; try it now; it’s a win-win situation. Just check it out, you will not be disappointed.
Believe me, stock trading is a very harsh and unforgiving business, and the only chance you have of starting it with real experience is by practicing using paper trading, and the best tool on the net is papertrading.io. Just try it out for 1$ ONLY and…
Good luck!
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