Free virtual stock trading.

[Kenbuntu]

Hey guys, I have just about been given the OK to start stock trading, but want to try the virtual stuff for a few weeks just to see how i am.

Do you guys use any? And if so, which are the best? Of course, I'll be doing a bit of research, but I thought I'd ask some people I trust.

And got any tips for me?

Thanks,
Ken

[tplyons]

I used to use an app on facebook called kaChing. I did not too badly doing some personal trades while I was in my investment club in college.

If you're going to be putting real money in the stock market, and this is your first foray into investing, I'd recommend more than just a few weeks in a simulation.

[L-A]

Wall Street Survivor

[hbarcat]

Only invest money that you could afford to set on fire.

[tplyons]

I highly recommend reading this book:

http://www.coffeehouseinvestor.com/

[Kenbuntu]

Yeah, Im signed up on two places now. howthemarketworks and wall street survivor. each with a few different profiles, penny stocks, and a few different variations. We'll see how they do tomorrow.

And I found a good online broker: tradefreedom.com
7 dollars per trade, and I believe 1000 bones to get started. Software is free. Looks better than that wizetrade stuff.

If all goes well, I'm thinking of starting real money by August. Till then, I'll have to know day trading like the back of my hand. In that month of August, I plan on day trading, then going long term in [insert company name here] until i finish my first year of university.

I really need some money. My mom just lost her job, my pops is on a temp one. ***** going to be tough the next four (plus) years. And if any of you guys have some tips, please send them my way.

[tplyons]

Originally Posted by Kenbuntu

Yeah, Im signed up on two places now. howthemarketworks and wall street survivor. each with a few different profiles, penny stocks, and a few different variations. We'll see how they do tomorrow.

And I found a good online broker: tradefreedom.com
7 dollars per trade, and I believe 1000 bones to get started. Software is free. Looks better than that wizetrade stuff.

If all goes well, I'm thinking of starting real money by August. Till then, I'll have to know day trading like the back of my hand. In that month of August, I plan on day trading, then going long term in [insert company name here] until i finish my first year of university.

I really need some money. My mom just lost her job, my pops is on a temp one. ***** going to be tough the next four (plus) years. And if any of you guys have some tips, please send them my way.

1) If you NEED money, day trading is not the way to do it.
2) Are you looking to day trade, or invest?
3) Are you willing to lose every bit of that $1000 if things go wrong?

[Kenbuntu]

1) i thought it was
2) Day trade when school's not going on, invest when school is going on.
3) Yes and no. I'm willing to lose 1 grand, but losing is not an option here. Im determined to make that more. Seriously. And, (please correct me if I'm wrong) I don't really lose money until I cash out correct? I don't mind losing some money, as long as I can make it up the next day, the next month, however long it takes to make it up. It's the nature of things.

And once and IF I make money, i plan on taking some out y'know? Instead of having it all in there at once. So kind of like, make a grand, take out a grand.

[tplyons]

1) Day trading is an incredibly easy way to lose money, or gain, depending on your luck. But it's seldom predictable.
2) Pick a strategy and stick to it. Shifting from day trading to investing is often problematic. (Do you even know the difference?)
3) Everyone in the stock market is determined to make money. But why isn't everyone a millionaire?

3a) Consider the money lost until you cash out... if you have any left.

I think you need to do a lot more research and reading before you consider tossing money at the stock market. A lot of times throwing money in a CD is more profitable than day trading.

Originally Posted by Kenbuntu

1) i thought it was
2) Day trade when school's not going on, invest when school is going on.
3) Yes and no. I'm willing to lose 1 grand, but losing is not an option here. Im determined to make that more. Seriously. And, (please correct me if I'm wrong) I don't really lose money until I cash out correct? I don't mind losing some money, as long as I can make it up the next day, the next month, however long it takes to make it up. It's the nature of things.

And once and IF I make money, i plan on taking some out y'know? Instead of having it all in there at once. So kind of like, make a grand, take out a grand.

[tplyons]

But, take advantage of the free investment programs online... see how you are in a month or two... if you're seriously in the red, rethink your strategy and try again.

[Kenbuntu]

1) True.
2)Strategy sounds good, more below.
3)Millionaire is not by goal here =D whatever I get, I get. I know the business is brutal, and I've still got A LOT to learn.
3a) Noted. (Y)


Now this is my strategy.

Selling: Selling during the first hour. I've done a small bit of reading and apparently selling during the first hour is good: why? Because that's when broker's get information to buy stock. Within the first hour or so, the stock will rise, then suddenly drop. (I've checked Freestockcharts.com and i've seen this pattern).

Buying: I'm not sure about this, but I believe you buy when a company is at the local minimum of their drop.













yeah, I'll get back to the books.

[tplyons]

Originally Posted by Kenbuntu

Now this is my strategy.

Selling: Selling during the first hour. I've done a small bit of reading and apparently selling during the first hour is good: why? Because that's when broker's get information to buy stock. Within the first hour or so, the stock will rise, then suddenly drop. (I've checked Freestockcharts.com and i've seen this pattern).

Buying: I'm not sure about this, but I believe you buy when a company is at the local minimum of their drop.

All I've got to say is good luck... you're going to need it.

[Kenbuntu]

That doesn't sound good.... haha

Tomorrow will be the day I see if this works!

[PSPookie]

Originally Posted by Kenbuntu

That doesn't sound good.... haha

Tomorrow will be the day I see if this works!

You can't even buy properly sized T-shirts. What makes you think you can handle investing/day trading?

[Kenbuntu]

That's not going to stop me, keep trying. Just a word of advice, if you've come here to hate, troll or make me troll, beat it, it won't happen this time.

I'm already seeing a 9$ profit in my Western Wind Energy stock. And a 3.50$ increase in my apple share.

[PSPookie]

Originally Posted by Kenbuntu

That's not going to stop me, keep trying. Just a word of advice, if you've come here to hate, troll or make me troll, beat it, it won't happen this time.

I'm already seeing a 9$ profit in my Western Wind Energy stock. And a 3.50$ increase in my apple share.

Yeah, and I kick @$$ at monopoly. That doesn't mean I should go into real estate.

I'm not trying to hate or troll here. I'm just pointing out that you may be in over your head. Think long and hard before you go intvesting any money. Also consider the Dunning-Kruger effect and what implications it may have on your self-assesment of investing competence.

Smarter, more mature than you Icelandic banker with degrees in finance thought they had it figured out. They were wrong.

Just sayin'

Sincerely,
Buzz Killington

[tplyons]

Originally Posted by Kenbuntu

That's not going to stop me, keep trying. Just a word of advice, if you've come here to hate, troll or make me troll, beat it, it won't happen this time.

I'm already seeing a 9$ profit in my Western Wind Energy stock. And a 3.50$ increase in my apple share.

Think of it this way... at $7 a trade, you're still at a loss.

[Kenbuntu]

yeah. I'll forget about day trading :P

Update: My western wind energy stock is now making me a $13 PROFIT!