what is “paper trading” with the stock market…how do u do it…imean on real paper, no online program stuff

Question by Flying Monk: what is “paper trading” with the stock market…how do u do it…imean on real paper, no online program stuff
i want to learn about the stock market and this “paper trading” i cant afford these online programs ect…cause im 17 and broke…i have a friend whose cousen dose this, he reads investors buisness daily everyday and records his profits and losses, he started with 5,000…….hes 6! he dose paper trading….i want to learn this so if u can direct me thanks if not direct me to a site that teaches it…..

THANK YOU!!!

Best answer:

Answer by trader
Write down how much you have to invest.
Decide when you are going to buy or sell a stock, at the day’s open or close and use that price. Decide the day when to buy or sell the stock and then write down the number of shares and its price/share. You can get your stock price data from the news paper or on-line sites such are finance.yahoo.com or bigcharts.marketwatch.com
Keep track of your transaction on a spread sheet, such as Excel, or use pencil and paper.
Create the columns; Date, Stock, #Shares, Price, Profit/Loss
To learn from your mistakes, keep track of your reasons for each buy and sell. Go back and review your results and improve your system. Check out the Yahoo group ComputerProgramPicks. Best of luck to you. Having luck is executing with a prepared mind.

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