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Paper Trading Pumps Up Rookie Traders

Tue, Mar 28, 2017

Freebies at FreeSnatcher.com

Day trading brings about a unique situation within the world of work. How do you get better at something that requires risking lots and lots of money without losing lots and lots of money? Paper trading is the answer. With trading simulators, novice traders can try out techniques and string together strategies without the possibility of losing their personal next eggs.

How Does Simulated Trading Work?

There are many sites out there offering simulated trading software that is supposed to allow for real market conditions, so traders can really test their mettle against the same circumstances as other soldiers on the market battlefield. But Warrior Trading offers a real-time simulator that mimics the highs and lows of the market.

The trading simulator that students jump into after taking classes with Warrior Trading instructors is designed to look and feel like the actual stock market. You start out with $100,000 of fake money in an account and you get to test out all the strategies that you learn throughout your online classes with the Warrior teachers.

You get your $100,000 in virtual money and you get to work in a simulator that performs exactly like a real brokerage account, so you can trade in real time conditions. That means you have access to actual Level 2 Quotes and order execution that is fast as lightning.

The Most Important Lesson of Trading Simulators

Why is it so important to work with trading simulators? Because you get to learn risk management without risking anything more expensive than your pride. And risk management is the most important skill you need to master if you want to be a profitable trader.

You always need to put a stop-loss on your trades. And you need to stick to that stop-loss marker. You may see the trade going south and you want to hold on just a little bit longer to see if you can make your money back. But what you need to learn how to do is cut your losses. Get out of bad trades as soon as possible.

When you are in a trading simulator you can beat yourself silly by making that mistake over and over again until you learn. And you don’t lose any real money. Let it ride a couple of times and then you will learn quick how important it is to cut a losing trade before you lose all your profit for the day.

Want to find out if you can hack it without the possibility of losing lots of cash? Search out Warrior Trading on Facebook and take your shot.

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