I recently graduated from grad school (with a degree completely unrelated to finance) and have begun working, so I have some discretionary income to throw around. I've already set up a Roth IRA, but I want to start dabbling in the market. My dad has always been a successful investor, at least by my standards, and still manages a mutual fund account for me, which I imagine I'll take over once I marry, but neither of us have the time to sit down and dedicate time for me to learn.

I've asked around, but no one really has a good answer. Can anyone recommend a good online market simulator? I'm looking for something that's free (if possible) that also has research/analysis capabilities. It also wouldn't hurt if I could get my friends involved.

TIA

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Posted by OnTheBrink

Member since Mar 2012

5418 posts

Posted on 11/7/12 at 3:22 pm to beauxkner

Found this website, looks pretty good...

LINK /

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Posted by foshizzle

Washington DC metro

Member since Mar 2008

40599 posts

Posted on 11/7/12 at 3:55 pm to beauxkner

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.

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Posted by bradwieser

Cornell Fan

Member since May 2008

10555 posts

Posted on 11/7/12 at 11:08 pm to foshizzle

quote:
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.

this. Just start dabbling with a grand or two.

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Posted by LSU0358

Member since Jan 2005

7915 posts

Posted on 11/8/12 at 8:57 am to foshizzle

quote:
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.

Good luck.

This post was edited on 11/8/12 at 9:03 am

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