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Practice makes Perfect!
One of the most important factors that contribute to a novice traders' success (or lack of) is their ability to engage in deliberate practice. This can take two forms:
First is back testing strategies. This involves applying a set of conditions in accordance with the system in question to previous sets of data and assessing the outcomes which result.
Second strategy which we recommend, is paper trading. This is crucial for beginners because it allows for risk free exposure. Experience is key in any financial market, and gaining this experience in a risk free manner is extremely valuable.
You wouldn't dive into a pool without being able to swim.
You take driving lessons before going on the highway.
Surgeons go through intense schooling before cutting.
This schema of practice before perfection exists in almost all niches of professional individuals who perform at the highest standard possible. Practice is required for perfect performance.
Welcome to Trading Game!
This app provides the means to paper trade with a demo account across a whole list of assets like Stocks, Forex, Crypto and Commodities. Simple interface that is easy to use!
This level of support sure beats the experience of phyiscally writing paper trades and manually tracking. The technology has come a long way! I remember when someone told me about paper trading and I was amazed that there wasn't a better solution to this problem.
Further, there is educational material on the application to develop and assess your own understanding! This is intuitive because it allows for education and testing to occur successively.
Another important feature is they can put you in direct contact with a variety of brokers that are consumer-centric. For example, Webull!