Paper trading (sometimes also called "virtual stock trading") is a simulated trading process in which would-be investors can 'practice' investing without committing real money. This is done by the manipulation of imaginary money and investment positions that behave in a manner similar to the real markets.
I am using a simulator right now so that I can learn how to day trade with out risking my own
capital. I joined Warrior Trading and that provided me with access to their simulator which I can use to trade in real time. You can see these two pictures of my trading screens. This was on my first day of learning what all the fancy charts and buttons meant. :)
During the course of my learning journey I have set goals for myself to meet. My current daily goal in the simulator is to make just $50 a day. This would provide me with $1000 profit each month. Once I have mastered $50 a day, I will up my goal to $100 a day providing me with $2000 a month and so on. I think within 2 to 3 months I will be able to switch to investing real money. Since I want this to be my full time career, I am willing to take my time and learn how to be a professional trader.
Thank you for coming along today.
Namaste and Trade Another Day,
Michelle
Sounds like a plan to me 👍🏻
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