Trading Simulator

[Modest]

What trading Sim does everyone on ASF recommend?

I'd prefer if it had global markets and not specific to a single country. I begun using CMC Markets Demo account but a little annoyed that a lot of the stuff is only accessible to their Live Accounts.

 

[Trembling Hand]

What kind of sim you use will depend on what instruments and what time frame you are trading. It depends on lots of things actually, data, instrument, time frame, frequency, discretionary or system trading blah blah blah.

You haven't given much info to work with.

 

[Modest]

What kind of sim you use will depend on what instruments and what time frame you are trading. It depends on lots of things actually, data, instrument, time frame, frequency, discretionary or system trading blah blah blah.

You haven't given much info to work with.

My apologies TH I am new to trading.

I like the idea of starting out by going long on stocks, Technical Analysis appeals very much to me as I am a visual person and I'd like to be a discretionary trader.

I like the idea of skimming for awhile to learn a little (is that even the right term) basically I'd like to start off buying stock that I believe will increase in the short term, getting a modest profit after brokerage (50 - $100) selling and repeating the process.

I understand there is shorting but I am not full bottle on that and other ways to trade the above I personally think the above is the most appropriate way to slowly learn the ropes but please feel free to correct me.

Thanks!

 

[CanOz]

My apologies TH I am new to trading.

I like the idea of starting out by going long on stocks, Technical Analysis appeals very much to me as I am a visual person and I'd like to be a discretionary trader.

I like the idea of skimming for awhile to learn a little (is that even the right term) basically I'd like to start off buying stock that I believe will increase in the short term, getting a modest profit after brokerage (50 - $100) selling and repeating the process.

I understand there is shorting but I am not full bottle on that and other ways to trade the above I personally think the above is the most appropriate way to slowly learn the ropes but please feel free to correct me.

Thanks!

I'd recommend getting a demo FX account. If you can double that in a month then go looking for some real action...

CanOz

 

[Trembling Hand]

Whats ya budget?

 

[tech/a]

I'd recommend getting a demo FX account. If you can double that in a month then go looking for some real action...

CanOz

MT 4

http://www.metatrader4.com/

 

[Modest]

So you guys are suggesting I start trading in Currencies as both suggestions appear to be currency trading platforms?

 

[Trembling Hand]

So you guys are suggesting I start trading in Currencies as both suggestions appear to be currency trading platforms?

FX is basically free. If you want to sim trade stocks on a short term basis you will have to pay for the data. Thats going to be from 40-120 per month.

 

[tech/a]

FX is basically free. If you want to sim trade stocks on a short term basis you will have to pay for the data. Thats going to be from 40-120 per month.

Well if your going to trade your going to need data.
If you can't afford data then you can't afford to trade.

 

[skc]

Depending on how you trade your stocks, if you just doing End of Day, hold a few weeks sort of stuff. Pen and paper is all you need (or a spreadsheet of course).

You can get prices from a number of free sources (e.g. yahoo, google).
You record your own buy/sell price.
You can get charts from a number of free sources (e.g. yahoo, incredible charts).
Just mark your trades and see how you go.

If you want something a little bit more dynamic for stocks, I think IG Markets let you trial for 2 weeks and stream you live stock prices.

 

[Modest]

Thanks for the advice guys. I've kind of figured out the CMC Markets platform and looking at playing in the Demo day trading. Figured out how to get the Charts and Technicals going (using MACD & RSI) so the platform is starting to appeal to me and it appears to be fetching Live Data (not sure?).

 

[CanOz]

Thanks for the advice guys. I've kind of figured out the CMC Markets platform and looking at playing in the Demo day trading. Figured out how to get the Charts and Technicals going (using MACD & RSI) so the platform is starting to appeal to me and it appears to be fetching Live Data (not sure?).

If your trading fx then keep a close eye on the market opens and try to avoid the dull areas. Some people think because fx is 24 hours there will be lots of opportunities, when in reality there are better times to trade than others. A keen eye will see some things that tend to happen more often than not, and you may be able to take advantage of that.

CanOz

 

[Modest]

I don't have a very good feeling about Forex Trading at the moment. I did look into it, read up watch some videos but it didn't tickle me like CFD's in Commodities and Companies.

 

[Modest]

Also can anyone give me a low down on 'direct' trading. Say I don't want to do CFD's and I just want trade actual stock on the ASX what platform would one recommend?

 

[CanOz]

I don't have a very good feeling about Forex Trading at the moment. I did look into it, read up watch some videos but it didn't tickle me like CFD's in Commodities and Companies.

Yup, and you want free intraday data. Generally they do this for FX only as there are little in exchange fees for them to pass onto you.

You can't have your cake and eat it too!

CanOz

 

[Modest]

I never said I did not want to pay a fee to receive live data streams. My initial question was about Simulators, a Sim doesn't need to be live to the second IMO.

 

[CanOz]

I never said I did not want to pay a fee to receive live data streams. My initial question was about Simulators, a Sim doesn't need to be live to the second IMO.

Well it's either intraday or end of day. EOD is free from Ninjatrader for US stocks. Intraday is a different story, you'll need to pay for data other than FX.

CanOz

 

[Modest]

Well it's either intraday or end of day. EOD is free from Ninjatrader for US stocks. Intraday is a different story, you'll need to pay for data other than FX.

CanOz

Thanks for clarifying CanOz checking out NT now.

What does everyone use to trade non CFD's on the ASX directly?

 

[Modest]

Jeeze I am blind as a bat! Turns out CMC Markets does Stockbrokering platform so I can trade non CFD. Awesome. Just goes to show what a newb I am.

I think I'll skip CFD's for now and just trade direct stocks with my very own capital instead of having that temptation to use CFD leverage.

What do you guys think?

 

[CanOz]

Jeeze I am blind as a bat! Turns out CMC Markets does Stockbrokering platform so I can trade non CFD. Awesome. Just goes to show what a newb I am.

I think I'll skip CFD's for now and just trade direct stocks with my very own capital instead of having that temptation to use CFD leverage.

What do you guys think?

In my view CFDs should only be used by experienced traders that understand the advantage of leverage and how it should be used as well as how to cope with the spreads.

Trading the real instrument is a good choice for now.


CanOz