Mock Day Trading
Mock day trading, or demo trading, is the process of using a mock trading account to learn and practically apply trading strategies, without the need to risk actual money. Mock day trading allows beginners to get the practice they need to properly learn practical day trading strategies, without the anxiety that comes along with putting up real capital. Although mock trading cannot teach traders every aspect of day trading, it is an effective way for beginners to get a practical handle on the basics without taking on too much risk.
There are a few reasons why somebody might want to start mock day trading. The main reason is that it allows beginners to learn the ropes without risking their own money. It also allows hopeful traders to get an idea of how trading mechanics work, so that they aren’t fumbling around with their broker when they actually begin trading.
There are some disadvantages to mock trading, in that you don’t quite get the entire impact of what it feels like to trade with real money. There is a lot of psychology and emotion which goes into day trading, that can be lost if traders practice only with mock trading accounts. Although working through the best free day trading simulators can give you a lot of practice, there are still some aspects that are lacking.
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Why Mock Trading Is Not Enough
In order to generate money with your day trading activities, you need to cultivate day trading skills. Although practicing with a demo trading account can allow you to practice many of these skills in a realistic context, there are many aspects of real day trading that mock day traders miss out on.
When cultivating real investment or day trading skills, it is important to understand and feel the gravity of all the risks and emotions that our trades are subject to. Without this element of realistic day trading, it is impossible to really get an understanding of what it feels like to perform real trades. Mock trading gives beginners the capability of applying some of the knowledge they learn within a practical and realistic setting, but it doesn’t simulate every single factor of day trading.
In order to get a more in-depth understanding of what is at stake, users should look into other ways of learning the practical aspects of day trading. This knowledge can be used in tandem with mock day trading on stock simulators to create a well-rounded learning experience.
How To Start Mock Day Trading
Tradenet offers live trading videos where students can watch Meir Barak (the founder of Tradenet), and Scott Malatesta (the host of Tradenet’s trading room). These traders will show you real trades where they employ their strategies on the trading floor. Watching these live trading sessions gives users direct practical knowledge, which they can then apply in their mock trading activities.
Watching a live day trading channel to learn practical knowledge used on an actual trading floor allows users to learn real trading strategies that they can test with their mock trading. This provides some advantages compared to mock trading by itself. The best stock simulators are designed to allow traders to apply the strategies they learn within their demo trading accounts.
If you’re interested in watching Meir Barak trade live, and starting to gain practical knowledge for use in your mock trading accounts, you can sign up for Tradenet’s 14-day trial. This gives you access to Tradenet’s interactive live trading room, allowing you to see Meir and Scott trade in real time, and discuss the applications of their strategies with traders of all skill levels. Signing up is easy, and only requires a few simple credentials and agreements.
The 14 day trial allows potential students to access the Tradenet private live trading room for 14 days, and participate in their live trading chat room where you can discuss day trading strategies and tips with a supportive community consisting of traders of all skill levels.