[Jack D]

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

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[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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[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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[James Barra]

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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[Author]

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