Any stock traders out there?

[®ob]

I seem to recall seeing a website that offered stock trading software that allowed you to manage a portpholio of stocks, but with no real money. It was catered to people that were new and wanted to learn without risking their own funds.
Is there some software out there that'll let me manage real stocks but with "fake" money so I can practice?

[dasmoofler]

Yahoo finance.

[GStephan]

Rob,
Have you considered paper trading? This can be esspecially useful when learning the stock market, esspecially considering that you're trading without actual funds. In addition to paper trading, I would recommend the sites below.

Try:
http://www.fxsol.com/getting_started...ce_account.asp

http://vse.marketwatch.com/Game/Homepage.aspx

Take Care,
Graham

[25psi_Elise_Killer]

http://finance.yahoo.com/

Click on the links to "create your own portfolios" and it'll keep track of your P&L

[RichS]

The worst possible thing that can happen with one of these is that you make a TON of money on paper...

Then you think you can do it for real.

Unless you understand WHY you 'purchased' the stocks you did and WHY you thought they were valued less by the market at the time you purchased them than they were actually worth, then all you are doing is guessing.

Sometimes you guess lucky.

Sometimes you don't.

Remember: Past performance doesn't indicate future behavior!

[Ginetta]

I would suggest some books if you are thinking about getting serious about investing. Also, when you start trading you should keep a log of when you purchase a stock, why you purchased it, and your general thoughts about its future performance. This will force you to actually think through your investment decisions instead of just shooting from the hip.

Here is a list of my favorite books and those i feel most important:

How to Make Money in Stocks -O'Neil (By publisher of Investors Business Daily, CANSLIM method)

One Up on Wall Street - Peter Lynch (Possibly single best investment book)

Beating the Street -Peter Lynch (Not as good as OUOWS, but still decent)

The Warren Buffet Way-Hagstrom (Analysis of Buffet by an investment professional)

Buffet - The Making of an American Capitalist-Lowenstein (Best Buffet book)

Common Stocks and Uncommon Profits-Fisher (Classic book, teaches 'scuttlebutt method')

Classics and Classics II-Ellis (Anthologies of good investment ideas and articles)

Security Analysis-Graham & Dodd (This is THE bible of how to analyze companies)

Money Masters-Train (Professional reviews people like Graham, Buffet, Templeton etc)

New Money Masters-Train (Professional reviews people like Soros, Lynch etc.)

Stocks for the Long Run-Siegel (Wharton professor on market - good book)

A Random Walk Down Wall Street-Malkiel (Classic book)

Financial Statement Analysis - A Practitioners Guide-Fridson (Very good for developing financial statement abilities)

Contrarian Investment Strategy-Dremen (Good book on going against the grain)

Berkshire Hathaway Inc. Shareholder Letters-Buffet (These are amazing examples of clear thinking, and are free.)

The Money Game-Smith (Fun book with good insights)

Jump Start Your Brain-Hall (Not about investing, but good book for developing creative thinking)

Soros on Soros-Wein (Inside the mind of an amazing investor)

Economics in One Lesson-Hazlitt (Good for brushing up/learning about drivers of the markets)

Atlas Shrugged-Rand (James Taggart is a short seller's dream CEO)

The Artist's Way-Cameron (Another good book regarding creativity and breaking creative block)

The Moral Animal-Wright (Why we are the way we are, stock market is a more expensive place to find out)

[25psi_Elise_Killer]

I've read "A Random Walk Down Wall Street". Good stuff!

[snuggles1]

Originally Posted by ®ob

I seem to recall seeing a website that offered stock trading software that allowed you to manage a portpholio of stocks, but with no real money. It was catered to people that were new and wanted to learn without risking their own funds.
Is there some software out there that'll let me manage real stocks but with "fake" money so I can practice?

old thread - just happened upon it now, as i see the SP500 towards its worst month in several years. And looking lower.

interesting to see what the pols say now... not that any of them understand economics too well.

[25psi_Elise_Killer]

I see the S&P 500 hitting 6 month support at 1280, if it drops below there the next level of support is 1220

[snuggles1]

Originally Posted by 25psi_Elise_Killer

I see the S&P 500 hitting 6 month support at 1280, if it drops below there the next level of support is 1220

thanks. So how u trading that EliseKiller?

[25psi_Elise_Killer]

Originally Posted by snuggles1

thanks. So how u trading that EliseKiller?

I'll wait to see what the S&P does when it reaches at 1280. If it bounces off of 1280 and starts to go up again, i'll go long. Its possible to bounce since some technical indicators i look at look oversold. However, if there's definitive break below 1280, i'll go short...

[25psi_Elise_Killer]

Ignore the crosshair line around the 1260 level...

[snuggles1]

Originally Posted by 25psi_Elise_Killer

I'll wait to see what the S&P does when it reaches at 1280. If it bounces off of 1280 and starts to go up again, i'll go long. Its possible to bounce since some technical indicators i look at look oversold. However, if there's definitive break below 1280, i'll go short...

got it...even tho i dont know what ure shorting... ETFs are implied. Yes, there are lotsa indicators out there now.

[snuggles1]

1284,,,, i guess u're pulling the trigger. what to do with all that cash now?

[25psi_Elise_Killer]

I am going to wait a few days to see which if it bounces off of 1280ish support or if it breaks it on the downside. If it breaks it, might short some ETF's and/or buy puts, but buying puts are going to be expensive with the VIX spiking 13% today.

[snuggles1]

Originally Posted by 25psi_Elise_Killer

I am going to wait a few days to see which if it bounces off of 1280ish support or if it breaks it on the downside. If it breaks it, might short some ETF's and/or buy puts, but buying puts are going to be expensive with the VIX spiking 13% today.

ok, sounds good... the VIX is interesting to look at but how people actually make money off it is beyond me (and this is all I do...maybe I should ask JJC )

but i agree, that's a stiff premium now. I actually covered big positions here...

[25psi_Elise_Killer]

VIX index is an index which gauges volatility. Volatility is a main component of option pricing. So, the higher the volatility, the higher the option price and vice versa.
Better definition here:
VIX - CBOE Volatility Index

If you want to make $$ directly off the VIX, there are options and futures available for you to play with. If you deal in large size, best to be in the OTC market since the listed markets are not very liquid...

[snuggles1]

Originally Posted by 25psi_Elise_Killer

VIX index is an index which gauges volatility. Volatility is a main component of option pricing. So, the higher the volatility, the higher the option price and vice versa.
Better definition here:
VIX - CBOE Volatility Index

If you want to make $$ directly off the VIX, there are options and futures available for you to play with. If you deal in large size, best to be in the OTC market since the listed markets are not very liquid...

i'm kinda chuckling here... ok thanks. I guess kidding doesnt come across well online at times.

As I said, this is all I do all day. If I truly thought ok "I want to make $$ directly off the VIX" I would be doing it, since I dont get paid unless I make investors money. Point blank: do u know anyone who makes $$ directly off the volatility? U must know more hedge fund managers/private traders than I do.

[Wareal]

E-mini index futures are an excellent way to either hedge long portfolios or simply trade to make a buck. Capital requirements are very low. Risk/reward is not hard to figure out, liquidity is excellent, and of course, you can easily trade in either direction. Short below 1320. We'll continue to get temporary lows (one coming soon), but nothing to trade on the long side for more than a week. I'm not at my home computer. I'll post some numbers later when I get home. Look here for contract specifications for the S&P e-mini:

CME E-mini S&P 500 Futures and CME E-mini S&P Options

[25psi_Elise_Killer]

Originally Posted by snuggles1

i'm kinda chuckling here... ok thanks. I guess kidding doesnt come across well online at times.

As I said, this is all I do all day. If I truly thought ok "I want to make $$ directly off the VIX" I would be doing it, since I dont get paid unless I make investors money. Point blank: do u know anyone who makes $$ directly off the volatility? U must know more hedge fund managers/private traders than I do.

Ah, i see you work on the buy-side....

Simple way to make money strictly using the VIX is to trade the VIX options/futures. Could go long/short, combo, straddles, etc...
CBOE - Micro Site

As for volatility trading, there's a lot of professionals who do it in the options markets. I didn't trade volatility to make $$ per se, but when i used to trade OTC options, our counterparties (broker/dealers) would take the opposite end of the trade to help facilitate it. To make sure the counterparties don't lose money on the deal, the counterparty would go short on the positions we purchased, then would manage the position by going delta neutral until the specified option expiration date.

I'm a former institutional equity derivatives trader and currently unemployed. If you know anyone hiring, please do let me know