Paper Trading

[chard]

Hello everyone. I just joined SSP this week and am a newbie. I will probably be lurking, watching and studying before I invest any real money.

Any recommendations regarding a service that allows paper trading? Ideally I would like one without a time limit and where I am not going to get calls every couple of days asking me when I am going to invest. I found this one http://www.simustock.com/. Has anyone used this? Any opinions? I suspect that it doesn't simulate real trading very realisticly but we shall see.

Paul

[tuzo]

Almost any finance site has a portfolio feature where you can enter trades.  Yahoo is good. MSN (http://moneycentral.msn.com/home.asp has a pretty slick activex control that tracks historical performance.

[bryanmcn]

The SSP's have a couple of virtual portfolios that they have been paper trading for a few months now. (Administrators - Can we get an update?)

Unless you are prepared to follow the rules without question (buying and selling exactly as they say) don't expect the same results. Paper trading has no emotional involvement. Since market movement is driven mostly by psychology, you will find yourself changing the rules according to the pain and pleasure you experience when you trade for real.

Also, keep in mind that you shouldn't trade with anything less than a $50,000 portfolio because you can't recover from the drawdowns.

Administrators- Can we get some updated performance specs from the various portfolios?

[chard]

Thanks Tuzo. I didn't even think of looking there. Doh!

You bring up an excellent point Bryan, and thanks for your advise on portfolio size.

Paul

[Super Stock Picker]

The SSP's have a couple of virtual portfolios that they have been paper trading for a few months now. (Administrators - Can we get an update?)

Administrators- Can we get some updated performance specs from the various portfolios?

Hello bryanmcn,

Unfortunately, we will have to delay the updates of the virtual portfolios and stats until the first days of October.

We are sorry for the inconvenience.