Paper Trading on Paper
Should I paper trade on paper?
No! Paper trading should be made as realistic as possible without the use of real money. Paper trading by writing down the prices you would have bought or sold is not the same as using a live day trading simulator that uses actual market prices and tries to mimic lifelike executions.
A day trader's learning curve should shorten when he uses a lifelike software program that simulates reality. In stock day trading, you should use a demo of the same direct access trading software that you will eventually use; e.g., Real Tick. This can cost you between $300 or more a month even for the demo.
If you decide to day trade currencies, you can use a live demo of many trading platforms for free. To sign up for a free 30-day demo of the a day trading software on this site, click here. In reality, you can start paper trading on the live demo before you even open an account without paying anything. You can sign up for as many demos as you want when the 30-day trial expires. Read more about this topic in the paper trading section of this website.
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