What actually is paper trading online?

  • This topic has 9 replies, 1 voice, and was last updated 1 day ago by Jack D.
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  • #199671 Reply
    Jack D

      Total newbie question: What exactly is paper trading and how does it work for day traders?

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      • #199690 Reply
        Kalfo

          It’s a place where you go to make winning day trades before placing the same trades in a real-world environment and then lose!

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          • #199715 Reply
            Joan

              😂😂😂

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            • #199716 Reply
              Jack D

                I don’t get it. Why do your trades work in paper mode but then not in real world trading?

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              • #199740 Reply
                Kalfo

                  You’re not contending with price slippage when you paper trade. Fees can be more favorable too. And the big one – you don’t the emotional burden in paper trading mode.

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                • #199833 Reply
                  Jack D

                    What’s the point if it’s not the same as real trading then?

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                • #199691 Reply
                  Steve

                    Online paper trading is practice mode for the stock market. You can buy and sell using pretend money, but everything else like the prices, charts, and timing is real.

                    I spent hunreds of hours paper day trading before doing the real thing. It’s great for learning the ropes and the best place to start for beginners in my view.

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                    • #199717 Reply
                      Jack D

                        Ahhh, that makes sense now, thank you!

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                    • #199697 Reply
                      James Barra
                      Moderator
                        DayTrading.com Team

                        Paper trading refers to the practice of trading with virtual money. It’s essentially a risk-free way to practice strategies or get familiar with trading software without using real money.

                        You can try paper trading in a demo day trading account, which are offered by most reputable brokers.

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                        • #199718 Reply
                          Jack D

                            I didn’t realise to start with it’s basically a demo account, thank you. Ive ipened an account with Pepperstone from that list to practice ‘paper trading’

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