Stock Trading and Other Things

How can I practice online trading without doing actual trading?

I wanted to open a Scottrade account to do online trading but I have no experience what so ever. Is there a software or something that let's you practice with virtual money or are there tutorials that teach you how to trade stocks?

Thank you

Public Comments

1. Virtualstockexchange.com isnt bad.
I think most online brokers let you trade virtually (no risk no money).
I think ThinkorSwim has a good software that lets you paper trade in past markets.
In terms of teaching you how to trade well that comes with years of experience. Read books, articles, and watching CNBC. If you just mean how to transact a security well it depends on your broker. normally you click the trade button and enter share number and ticker symbol. lol. pretty simple.

2. Investopedia.com has a simulation with options and it has tutorials and a great deal of information.

3. If you want virtually accurate simulated trading on a technical platform, sign up with thinkorswim.com for a paper account. The problem with this is you may be overwhelmed with their trading platform, but once you get used to it, it's about as accurate as trading live.

If you want something not as realistic, though still capturing the general idea, use something like investopedia's stock simulator. The problem with this it's 15 min delayed and the fills you get will be not completely accurate, but it gives you the basic concept.

http://simulator.investopedia.com/

Finally, you could just track something with paper and a pencil. When you want to buy, use the ask price. When you want to sell, sell at the bid price. This will make for almost completely accurate fills. If you'd like a source for learning chart analysis, I recommend this site/ forum.

http://onlycharts.com/

4. Yahoo finance.

Create a portfolio that reflects your trading strategy. Actually, I think Scottrade has a Virtual trading part to their on line program.

5. If you decide to open an account with Scottrade, they have a whole bunch of video tutorials on investing online. You can use this referral code: VSKB9108 to get 3 free trades to get you started with (I will also get 3 free trades).

Enjoy trading online!