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I’ll call it a pet peeve of mine. It drives me insane when I see beginner day traders who are just getting started in the markets spend their money on tools that, in all actuality, are free! Not only are these trading simulator tools free, if you know where to look, some will pay you to sign up and use them! How cool is that?!?! Trading simulators (also known as “demo trading” or “paper trading”) are an essential tool for anyone looking to learn how to trade. When you can fake trade without the threat of losing any actual money, you’ll be able to experiment and practice until your heart’s content. If you are not aware, despite what some may claim or portray, day trading and swing trade is a difficult endeavor. In other words, practice is not optional. You’ll need to fine tune your trading strategies and figure out what best fits your personal risk tolerances; however, money does not grow on trees so you can’t continue to spend your own money “figuring things out”. Once you find yourself a quality trading simulator though, you can practice with peace of mind that you are not on the verge of losing all your money. You can take your trading journey one step at a time and now feel the burdensome pressures of emotions. Whether we’re talking life in general or learning how to trade online, let’s work smarter.. not harder! The smart way to go about simulator trading is to NOT pay, but rather, GET paid!
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