You can have the best daytrading plan but you’ll never make any money if you don’t take action and actually start trading. But how can you start without risking a single penny of your own money?
After all, you are still new to trading and don’t want to lose thousands of dollars because you made a small mistake in your trading plan, do you?
The best thing you can do to get started is to get a so-called “Paper Trading Account”. And the best: You can get a paper trading account for free from your broker. Or just contact me and I’ll set you up with a free paper trading account.
So what is a paper trading account?
A paper trading account let’s you trade your system with “virtual money”. You will get live quotes and can enter the trades according to your plan. The daytrading system will simulate fills, and you’ll find yourself in a trading position. Paper trading accounts show the profit and loss in real time, and you can see LIVE how much money you are making or losing. Keep in mind that we’re talking about “virtual money”, so actually you’re not making any money...
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