Will virtual trading practice help me become a better trader?
Just in my personal opinion,
Yes, virtual trading is as good as, practicing your swimming lessons on dry land.
Join FYERS Community to pick others' brains on Trading/Investing
Hi Jayesh, this question makes me feel very much nostalgic. It reminds me of my old days, when I had started my journey in the stock markets. I always used to have this question behind mind, and I used to ask myself as well as the experts in the markets, that what is the right approach to get started in stock market. Should I start with live trading directly or should I first start with virtual trading and take some experience and then jump into the markets.
Frankly speaking I never got a unanimous answer on this. When it comes to fundamental knowledge of the stock market, I was very confident, however was afraid of putting my hard-earned money in stock markets without having any practical knowledge of trading. As it is rightly said that getting knowledge is one thing and when you apply that knowledge in practical its very different. So, finally I took a call what my heart and mind guided me, and as result I started my journey into markets by trading virtually.
During virtual trading, I used to maintain a checklist, which later helped me a lot in my live trading.
Some of the sites which you can refer for virtual trading.
So, I personally feel anyone who is new to markets and don't want to risk their capital, they should first start their journey by trading virtually. This will help you build your confidence, allows you to practice techniques and strategies needed to be a successful trader. Once you are confident enough, then gradually shift to live trading.