Virtual Trading with BetterTrades
Anytime you want to take up a new hobby it's a good idea to practice first. A baseball pitcher must work on a new pitch before he takes it to the mound. A golfer must practice a new technique over and over before attempting it on the course. A diver needs to perfect a new dive before trying to use it in a competition.
TThe same is true for trading the stock market. You can't just open an online account and start trading. Not if you want to make money. Newcomers to trading will need to practice over and over until they learn to be both confident and competent.
The best way to practice your stock market education is through virtual trading for stocks and options. BetterTrades offers a pair of potential platforms to conduct practice trades: Real Time Markets and Extreme Charts and Simutrade Manager. Both are extremely valuable stock trading tools to learn how to conduct trades.
The key to virtual or non-funded trading is to make the experience as real as possible. There's no benefit in taking steps that don't replicate the actual trading experience. When conducting practice trades, you need accurate bid-and-ask prices for your stock or option purchases, you need a real-time platform to input the trade information, and you need the ability to duplicate every potential strategy available. Your virtual trading tool should tell you when something is going wrong. Without this sort of information you won't know how to react when things go wrong in real life. Ideally, non-funded trading should be linked to the live stock market and allow students to learn how to adapt to real market conditions.
Real Time Markets uses the same platform for its virtual trades as its real trades. You get the same streaming data and quotes and since the real platform looks the same as the practice platform (the real platform has a yellow background, the practice platform has a white background) the transition from practice trades to real trades is potentially much smoother.
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