Paper Trading is a Waste of Your Time
Read the full article: http://investingadventures.com/2007/12/start-small.html
While paper trading can help someone get their feet wet in the markets, the best way is to have actual cash involved. At one point or another, you will forget about your paper trading account(s), but you won't forget about those thousands of dollars sitting in your investment account.
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If you have never had any
If you have never had any experience at all with the stock market, I would say to newcomers that paper trading helps to understand how it works and get an idea what the stock market is.
I agree. But you can only
I agree. But you can only use it so long. I think that was more the point of the article. For someone that is completely clueless and doesn't know the first thing, you can use it to learn. But you shouldn't use it much or for too long.
I have to second that. There
I have to second that. There is no better teacher than experience.
That is great advice. I
That is great advice. I recently read Timothy Sykes book, An American Hedge Fund, and that is pretty much his mantra. Not so much about paper trading, but that the greatest lessons that he has learned was by losing money in the stock market. It is easy to bet big when you have no skin in the game, but when you are really in the trenches, either you fight or you die. Great article, thanks for that.