paper trading stock options

[billbenson]

I traded options years ago and made several hundred dollars (total) after a few years. I had the dispensable cash back then. It was fun and I learned a lot about the market, all of which I have long since forgotten.

I'd like to do some paper trading for the fun of it. I'm sitting in front of a computer all day long, so glancing at the market and doing paper trades would be fun and educational. I used to be quite market savvy, but you don't have interest if you don't have any money there.

Anybody know of any sites that they like for strictly paper trading? Any software or strategies anyone likes? Any good sites for options strategies etc?

[painperdu]

I've been using Google finance to pick and watch stocks for the fun of it. I've had most of my current stocks for about 2 years and up to a +32.32% change! I have 14 different stocks in my portfolio: a couple tech stocks, two pharmaceuticals, one retail food and one food manufacturer, a drug research, and other retailers. I think I'm nicely diversified but I have a couple real estate and housing related stocks that I could probably drop.

I love researching the tech and pharmaceuticals. I also pay close attention to those companies that I actually can see and use, like Walgreens.

[Spider]

Never seen the attraction of paper trading - kinda like reading about sex! Or taking a shower fully clothed!

Either put some money in and play for real or invest/gamble your money some place else and enjoy that instead!

[billbenson]

If I can paper trade for a while and come out ahead, I may plop some money at it. If I can't make money on paper, I'm not going to do it for real! Kinda like starting a hobby business before quitting your day job.

[Evan]

I have a couple real estate and housing related stocks that I could probably drop.

Though it'd probably be wise to "buy" more at these rates... It's knowing how to calculate a bargain. I don't know what specific securities you have, but some certainly are "cheap".

[Dan Furman]

If I can paper trade for a while and come out ahead, I may plop some money at it. If I can't make money on paper, I'm not going to do it for real! Kinda like starting a hobby business before quitting your day job.

The problem with paper trading is the same as gambling for no money - it's just a different game w/ money on the table.

[Spider]

If I can paper trade for a while and come out ahead, I may plop some money at it. If I can't make money on paper, I'm not going to do it for real! Kinda like starting a hobby business before quitting your day job.


The problem with paper trading is the same as gambling for no money - it's just a different game w/ money on the table.I was about to say what Dan said, only I would have called it "a VERY different game." So different as to be incomparable. Sure, the process would be the same, and for that reason could be useful, but I see it like learning to play football by reading the RuleBook and learning to play football by joining a team and going out on the field.

And, No, I don't think it is anything like starting a hobby business before quitting your day job, unless your hobby business doesn't involve customers, clients, vendors, money and accounts. Paper trading may be a little like comparing a hobby and a business, but not a hobby business.

As I said, though, paper trading could be helpful for learning what to do rather than how to do it.

[billbenson]

The problem with paper trading is the same as gambling for no money - it's just a different game w/ money on the table.

And I want to do it to better learn the game and for the fun of it. I don't see that as a problem.

[painperdu]

Though it'd probably be wise to "buy" more at these rates... It's knowing how to calculate a bargain. I don't know what specific securities you have, but some certainly are "cheap".

I guess some housing/real estate related stocks are a good buy right now but Home Depot? I also have a REIT that bought up a lot of bubble properties and I'm not sure they'll ever see profitability.