Trading Simulations for Beginner

[pavloh]

Hi,

I am just starting to get into this whole Share trading... I have not yet made a single trade and looking around for more information before i make that leap. Getting my hands on a few books, looking around commsec and trying to get some basic knowledge, seems quite daunting to be honest. My question is other than the ASX Share Game which is currently closed for applications is there any other applications etc that are free that I can use to simulate trading stocks. As well as reading I think this would be the best way to get a feel for it, invest a few thousand and see how I go before using my own cash.

 

[johenmo]

OANDA for forex.

A few CFD providers allow some sort of dummy account. Interactive Brokers has a dummy account I believe. Also cheap rates for stocks.

 

[supermatt]

do you want like an actual program where you can simulate trading conditions after market close or do you just mean being able to buy and sell shares with a demo portfolio?

because you can just use prorealtime, hubb investor etc and they have the ability to place virtual orders which is good if you just wana have a go before going live.

prorealtime is pretty good for that though, I did use it for that a while back.

 

[pavloh]

Yeah thats what i am after, ie. being able to place orders as if I was using my own money, so in theory i could have a 10k account and be able to invest that as i please and see how i go.

 

[supermatt]

I'd just sign up with prorealtime. Its free and you can create whatever size account you want and also factor in brokers fees for everytime you make a trade.

 

[pavloh]

thanks for that mate. Signing up now looks good

 

[jono1887]

IG Markets and GFT have a free demo account for FX, CFDs stocks...

 

[pavloh]

Came across this website

stockwatch.com.au

similar to the asx game exactly what i was looking for. Check it out if your looking for something like this..

 

[shortlist]

Came across this website

stockwatch.com.au

similar to the asx game exactly what i was looking for. Check it out if your looking for something like this..

Pavloh

I'm just sarting out with this as well. I'm using the IGMarkets demo right now. It seems OK to me, but I haven't trued others yet (which I will) so difficult to compare. What do you want to trade/invest in?

 

[pavloh]

Pavloh

I'm just sarting out with this as well. I'm using the IGMarkets demo right now. It seems OK to me, but I haven't trued others yet (which I will) so difficult to compare. What do you want to trade/invest in?

I am looking to get into shares primarily, havnt done any research on anything else yet, alot to take in so far. Still a long way to go before i actually put some money down I think. Looking to mainly invest i guess.

If you know of any good books or websites to read up that would be great. Currently reading Rich Dad Poor Dad, seems like a good book so far about half way through although dosnt really give any insight into share trading.

 

[shortlist]

I am looking to get into shares primarily, havnt done any research on anything else yet, alot to take in so far. Still a long way to go before i actually put some money down I think. Looking to mainly invest i guess.

If you know of any good books or websites to read up that would be great. Currently reading Rich Dad Poor Dad, seems like a good book so far about half way through although dosnt really give any insight into share trading.

I read that some years ago, and no, it's really nothing more than a basic text. I think there is a specific thread round here somewhere about reading lists, etc., so good luck with all the reading when you find it.

Meanwhile anyone who can enlighten me about margins and CFD risk on IGMarkets in particular is desperately sought! For example, when trading CFDs on IG, do you have to leverage, or can you use your own money only? Call me old-fashioned but I am not interested in big profits, and don't require the benefits (or risks) associated with leveraging.

Can anyone talk me through this? Am I making sense?