Why Start With Paper Trading?

by Justin Weinger on January 23, 2017

Lots and lots of aspiring day traders have stars and dollar signs in their eyes. Jumping into the daily trading of stocks with serious ideas about making serious profits right away. And they lose their shirt on the first day, in the first week, after the first month. What they never knew about, what could have saved them is this: Paper trading.

Gwen knew about paper trading. She was transitioning from being stay at home mom as the kids started going to kindergarten when she discovered Warrior Trading. From the beginning, as she made her way through the online courses, the instructors had a regular refrain: Don’t start live trading until you have a month under your belt in simulated trading.

What is simulated trading you might ask? It is a fully interactive experience that Warrior Trading offers to its students, where the student traders have a chance to work in a real-time market that mimics Wall Street. Warrior’s paper trading simulator has real time Level 2 capability, where students have access to Level 2 orders and immediate order execution. That capability means that you can test your newfound skills in an environment that looks and feels like a real day trading space.

That is how Gwen got the chance to hone her day trading abilities before funding a real, live account with cash and going out into the market. Sure, she stumbled at first, but those stumbles were smaller and more manageable, due to the time she spent in the trading simulator. Gwen had the opportunity to develop risk management and stock picking strategies in real time, while not risking any real money.

On her first day in the trading simulator, Gwen was presented with $100,000 in virtual trading power. She executed her first trade and saw the results that day, because the Warrior simulator was able replicate a real brokerage account. It worked just like in the real world, but it was simulated trading. And Warrior’s simulator, unlike other trading simulators, has advanced charting abilities, so novice traders like Gwen can work on their chart reading skills. Being able to weed out technical indicators from complicated charts is a valuable skill in day trading.

Gwen is earning a comfortable living from her home office these days, working in the morning, making the profits she needs and then picking up the kids in the afternoon from school. She put the time and effort in to make that happen.

Do you think you have what it takes? See Warrior Trading on Facebook and take a look at the website too. All the potential is right there.

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