Blog : Paper Trade
by Peter Leeds on June 20th, 2011
Always start learning to trade penny stocks by paper trading. It is an easy, no risk, zero money way to get up to speed fast.
Paper trading was one of the secrets to my success, and I actually learned as much about penny stock investing that way as I did from actual real money trades.
Here's what you do:
Keep track of trades you "would have" made, if you had been using real money. Follow real penny stocks, and keep track of prices you buy and sell at on paper. Pretend you have $100,000. Find which penny stocks you would buy, decide how many shares, and keep notes. When the prices of an underlying penny stock changes, you can see how you would have done if you had actually invested.
With paper trading, you trade penny stocks more often, you learn quickly, and you can refine your penny stock strategy over time. All for the super low cost of zero.
Give it a try.
You are reading this old blog entry because we still like to reference it. :-)
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