I am interested in day trading and would like some advice on various free simulation/demo accounts that I could use to begin papertrading. Once I get comfortable in the demo account and I learn more about day trading, I would like to work with with a prop firm such as cy group and starting making real trades.
What I am looking for is an simulation/demo account that is going to be as close as it gets to real live trading and having a real account with prop firm/or general retail account. Meaning something that will give me access to stop/loss, p&l statements, etc.
I have seen a few places mentioned such as interactive brokers, infinity trading, ninja trader, etc. All I am looking for is something free that is very similar to the real thing. Thank you for the help.
Subscribe for a free 30 day trial at AMP futures, you will get the zenfire datafeed and you have all the products, install the free version from ninjatrader and you are as close as real trading as possible, it will cost you $0. In the email you will get from AMP they will include the instructions to download/install ninjatrader and the serial number for ninjatrader. https://www.ampfutures.com/ninja_trader.php
Please, I beg you, paper trade for months and months until you are consistently profitable, if you don't you WILL loose your money.
I made that mistake, please don't make the same mistake.
1. If you can't make money with a practice account you can't make money with a real account.
2. Just because you make money with a practice account does not mean you will make money with a real account.
I go to the pistol range every week and consistently hit within the expert circle. But it would be a totally different experience if the target was shooting back.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
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2. Actually, if you make money with a sim account under a realistic condition ie 1 or 2 cars per trade, stop for the day if max loss reach etc.. then you will make money with a real account.
Thanks for the reply. I tried opening a tos demo account, but it was a very involved process and wanted me to fax things and fund the account. I looked into opening an IB demo account, but you have open a regular account first, with minimum 10k. I just downloaded the ninja free demo account, but it is just a blank screen a few options to do things. I am assuming I need a data feed for the ninja account, but I don't know how to get a free one nor how to incorporate a data feed into the account if even I do get it.
I am looking for an all inclusive demo account that would have everything I need just to look at things and start making paper trades. No adds on and other programs to download with it, just one website/demo account I use that has everything. Hopefully there are some demo accounts like this that exist. If anyone can give me one that matches up with what I have described above, please reply to this thread.
Since I plan on probably using a prop firm once I am done and not a retail account with futures, I am assuming I will not need a demo account that uses futures. This info might narrow down things and help you find me an account that is all inclusive. I appreciate any help. Thanks.
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You can contact Mirus Futures, they will give you a trial Zen Fire account and get you setup without funding the account. If you like it, you'll need to fund your account to keep the free data after the trial expires.
This is not existing and it will not happen. You will have to put more effort in it than you are wishing for. If you want to become a trader and you have already problems setting up an account and downloading software it will not happen.
Have you read my post ? You just fill in your email address at AMP and you get an email with all the info / serial numbers needed to set up a sim working ninjatrader account. If that's too hard, you're wasting your time.
You can lead a horse to water, but you can't force him to drink.
Thanks for the reply. I will follow your advice about AMP. I downloaded an openecry demo account for 14 days, but I really do not how to work with it yet. I am in the process of learning. I think I also found a way to use the tos demo. Please keep in mind that I am brand new to trading and have never even looked at any of this information before on a screen, so it is a little overwhelming. I think I have just became a little frustrated the past few days because it is so much information to learn and I have have expectations for myself and want to become successful in this field. And want to learn quickly.
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I was exactly like you (but I had no problem installing the programs and signing up) but I blew 2 accounts because I was inpatient. I hope you will be patient. Thanks.
I agree Cory. Realistic demo is what most people skip.
Hints:
Trade with the same # of contracts you will trade in real life. Use the exact stops, and see if the profit target was exceeded to make sure your fills would happen in real life.
This would provide a good start.
Best of Luck!
Matt
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