Posted on 19 October 2012. Tags: virtual stock trading
In some ways, virtual stock trading has been around for a long time. If you are old enough, you may remember taking out the finance section of the newspaper and pretending that you had money to invest in some of the tiny, printed names and numbers you saw listed there. Then you watched how they performed over the days and weeks. Maybe you pretended to sell and buy more. If you were very knowledgeable, you may have even assessed fees and commissions against yourself when doing this.
Virtual stock trading took on a whole new life with the advent of the Internet and widespread access to computer software. Now you can leave behind the clumsy imaginings of your youth and really see how you would do without risking any money. A number of stock brokers with online platforms allow their clients to participate in virtual stock trading to test their own strategies before trying them out in the real world.
You do not have to be as patient as you once did with these imaginary investments. You can run your ideas through historical performances of various stocks and see how you might have done using your same strategies in the past. This is an excellent way to learn how to use various online tools such as the stop-loss order, without putting your own money on the line.
Even if you are an experienced trader, this might be a valuable tool for you. You can try out innovative ideas without taking too many risks. The only drawback to virtual stock trading is that you cannot keep the money if you do it right.
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