IMO a simulator is mostly a waste of time, sort of like playing cards for toothpicks. People make decisions very differently when there's lots of money on the line.
Agree. Trading/investing for imaginary money is a waste of time. One never learns that way. Start a small account with 2-4K. You will likely go "broke" a time or two before you learn the key to trading/investing: risk management!
My advice for a beginner:
1. Determine how much of your account the entire position will be, buy no more than a third of that for your initial position. Add to the initial position as the trade goes your way. Add in thirds until entire position is established. Never, ever, ever add to a position that is going against you. Averaging down is for suckers!
2. Always, always, always know your exit price before you start your initial position. One should never lose more than 3-5% off total account on any one trade. Put in actual stop orders, if it is a mental stop the dirtiest four letter word in trading (HOPE) will come into play if the trade starts to go against you. As the trade continues to move your way start raising your stop to begin to lock in profits.
This post was edited on 11/8 at 9:03 am