Best place to Paper Trade online?

[KingRichard]

As I'm new to investing, I'd quite like to run a fictitious account somewhere and record my 'trades' online. Anyone know of a decent site where I can learn the different markets?

A good spread would be great - I want to learn about futures, options, bonds, currency and good old company shares if that's possible.

I've bought a few books to find out about different investing styles, although I'd probably prefer to work things out for myself, by making mistakes (best way to learn).

Does anybody else paper trade on PH, or is anyone else into playing the markets?

I've decided to spend the next few years building up my assets and residual income rather than blowing my current disposable on Porsche finance! Time to grow up me thinks

[jamesw2000]

tradindex do a dummy account I think or bullbearings.co.uk

[KingRichard]

jamesw2000 said:

tradindex do a dummy account I think or bullbearings.co.uk

Just opened an account with Bullbearings. They've started me off with a trading balance of £100k though, hardly realistic for my purposes!

Are there any that allow you to put in your own balance?

[MitchT]

I use TradIndex's 'player account' for paper trading - It's a useful way to get used to a new system. However, I've found that you're better off using real money to practice, once you're clear on how you're going to operate, as paper trading never allows for the fear factor that's attached to real money trades. Learn to eradicate emotion from your trades and you're 90% of the way there... but it's impossible to do this with paper trading. When I first started I paper-traded my way from a virtual £20k to £50k in three months, but in four years I've not been able to make the same percentage gains with real money.

[KingRichard]

MitchT said:

I use TradIndex's 'player account' for paper trading - It's a useful way to get used to a new system. However, I've found that you're better off using real money to practice, once you're clear on how you're going to operate, as paper trading never allows for the fear factor that's attached to real money trades. Learn to eradicate emotion from your trades and you're 90% of the way there... but it's impossible to do this with paper trading. When I first started I paper-traded my way from a virtual £20k to £50k in three months, but in four years I've not been able to make the same percentage gains with real money.

Hi mitch.

I really want to use paper trading to get used to the systems, work out a trading style that suits me and learn how to read the financial information available. I'm not going into this blind, however I am aware that it remains just a game if no real money is involved.

However, it seems a whole lot more productive than messing about on facebook while I'm at work!