Know About Virtual Trading / Paper Trading?

Some people consider virtual trading to be paper trading, buying and selling shares by writing on paper and estimating the price by themselves, we call it paper trading, but some websites do this work for you and provide you free virtual trading platform.

By the way, computer programs or applications that provide a platform for virtual trading are called stock simulators.

 Actually virtual stock trading is like trading in the stock market, where you will see everything like the live share market, the prices of all the shares will be seen, their price will be increasing and decreasing. You will be able to place orders to buy shares etc. You get 5 -10 lakhs or up to 1 crore of imaginary money (virtual money).

But it is made only for practice. Some people practice on virtual trading platform before doing direct trading in share market. Here everything works like live share market, you are given credit of lakhs of rupees from which you do trading, you make profit or take loss, you do not have to pay anything from your pocket.

Once you have lost millions, you get credit of millions of rupees again and you can start trading again, nor can you take home the profits made in it, so we can treat it like a game that you can buy real shares Play before you hit the market.

How do virtual stock trading platforms work?

The process of how you will use stock simulators to do virtual trading is very simple, you can use stock simulators in India in the following way –

Whichever simulating platform you want to use, you will have to open an account for free with your email.

After that you have to decide how much money (virtual money) you want to trade with.

After that you can buy and sell shares like in real live trading and keep track of your profit or loss.

You can also try your different strategies on this platform.

When you start feeling that you now know everything and now you should go into the real market, then you can start trading in the real market.

Pros and Cons of doing virtual trading

Every item has some advantages and some disadvantages as well, it depends on you how you use it. While there are advantages of doing virtual trading, it also has some disadvantages, let us understand them one by one.

Advantages of doing virtual stock trading

You do not need to open a demat account or go through any work process to do virtual trading, you can get your account activated with the help of just an email.

You do not need real money for virtual trading, you are given virtual money for trading.

  There is a lot to learn on the virtual trading platform for the newcomers who are associated with the stock market, here they can get information about the basics of the stock market and different strategies.

Here you do not have to spend a single rupee for trading, so here you can trade without any risk.

Also Read :-

Know About Money market and capital market

Know the Difference between Trading and Investing

What are Penny stocks?

Disadvantages of doing virtual stock trading

The biggest disadvantage of doing virtual trading is that you do not have any emotional attachment in every trade you take because your real money is not involved whereas in real trading your emotion is attached.

In this, you already know that whatever profit or loss you make, you are not going to get it, so after some time you start getting bored with it.

When you do real trading then the environment there is somewhat different there if you are going in profit or loss then you mentally go through a kind of pressure which tests your patient level that how long you are in the trade Therefore, trading is also called a psychological game in which your psychological level is more involved than your trading strategy but you do not get any such experience in virtual trading.

Some people also believe that you should not do virtual trading because it spoils your habit.

Some of the best websites to learn Virtual Stock Trading

Money Bhai

               Website — https://moneybhai.moneycontrol.com/

Moneybhai is part of the biggest blog related to finance, Moneycontrol, where you can register for free, initially you get virtual cash up to one crore which you can invest in shares, commodities, mutual funds etc.

In Manibhai you can also participate in different leagues and compete with different traders, here you also get a forum where you can ask questions and get answers.

Chart Mantra

Website — http://chartmantra.economictimes.indiatimes.com/

This is also a great website for doing virtual trading (paper trading) This website is made by Economic Times, this website focuses more on technical analysis.

Here you will be able to learn about different charts and different patterns. Here you are given a credit of 1 lakh in the beginning. The most important thing about this website is that it lets you choose only one stock and you have to do research and analysis again and again on the same stock, this gives you the advantage that you can get an idea about the movement of that stock and its volatility. I understand and at the end of the day you have to find out whether you make profit or loss from that stock.

Tradingview

Website :- https://bit.ly/3r48Oai

Tradingview is one of the best website or app in India providing virtual stock trading facility.

This site is considered very best in terms of convenience, here you can use many facilities like chart analysis, many technical tools and many different facilities. Here you can start paper trading by opening an account for free.

Apart from this, the names of some other best websites are given below, you can check their features by visiting them-

Dalal Street

Website: https://www.dsij.in/Stock-Market-Challenge

Investopedia Stock Simulator

Website :- https://www.investopedia.com/simulator/

Track invest

 Website— http://www.trakinvest.com/

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