Podcast

TME 039: Paper Trading

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Today we are going to talk about paper trading.  Before we start I want to say I hate paper trading. Why? Because it is boring.  Now that I got that out of the way let’s talk about paper trading. When I became a new trader I started out paper trading. As I said I hated it because it wasn’t enough action. The money did not mean anything to me.

So, what does paper trading consist of?  Paper trading is not real trading. Paper trading is trading without using real money. In today’s time, there are many stock market simulators that can be used but it is not a requirement. The advance of technology makes paper trading easy without having to put capital at risk. If you want to get the most out of your paper trading then you need to take it seriously. The trading that you do in paper trading should be done exactly like its real money. When paper trading it will be hard to trade with the same emotions that you have when trading real money. You can trade $100,000 like it’s no big deal. If you paper trade right when you switch to real trading the emotions will be the same. If it’s not then risk less you are risking too much.

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