Paper Trading Or Real Time Trading

For those new to trading, you'll soon realise that success depends on the physchology of trading just as much as buying and selling at the right time.

How would you feel after you've just made 6 losses in a row. Would you hesitate when placing the 7th trade? Or if you had just won 6 times in a row. Would your mental state be any different from when you made your first trade?

To be a successful trader, you'll have to master your emotions. Paper trading therefore is vastly different from real time trading. Losing $10,000 of imaginary money will never have the same physchological impact as losing real money. Personally I think paper trading is a waste of time. Your reactions when it comes to paper trading can't be compared to real time trading.

Its much better to trade using real money, and real emotions. Begin with a small account. A few hundred dollars should do the trick. What you'll learn from losing, and making mistakes when first starting out is much more valuable than what you learn when making profits. Of course, remember to minimise the losses when you're on the learning curve.

If you're trading using technical analysis, you can get data here: historical data.

Best of luck with your trading.