For those without much experience, practice using different types of orders, tools, and surveying of the market can really help people to understand how to be successful. Updown.com is a website that allows free online stock trading practice, as users may simulate exchanges based on the actual market.
Updown.com Stock Trading Practice
A free website, UpDown allows users to partake in simulated market activities based on the actual world. New users receive $1 million to use however they feel fit, and based on actual prices from the market, a user can find success or failure in simulated ventures.
People new to the world of stock exchanging may practice different types of orders, and see how they pan out. The free trading site sends a report at the end of each day to each user to notify portfolio status changes. Just as on actual trading sites, such as E-Trade, Ameritrade, and Scottrade, UpDown calculates the dollar gains and losses, percentage gains and losses, and more for every user’s portfolio.
In receiving this free practice, site users can actually see exactly what would have happened had they used real money to perform the same trades that they simulated with virtual money in the real world market on the site.
Free Stock Trading Practice: Tools and Resources
UpDown also has basic, but valuable trading tools that allow users to look up various securities, and even closely examine their histories to try to recognize patterns. Amateur traders may also look for volatile stocks using the “market movers” tab, similar to the corresponding sections found on actual trade sites that let users check which securities gain or lose high dollar amounts or percentages of their prices.
Stock Trading Practice: Using Orders
Although it is easy for first time users to want to jump in and see how their decisions pan out, it can be wise to save a big chunk of the virtual $1 million to practice the various types of exchanges, and note how their successes or failures align with the happenings of the market. Although market orders are basic and direct, making them appealing, those without experience should be sure to learn how limit and stop orders work, and in seeing their components, it is easy to understand more complex exchanges, such as stop-limit and trailing stop buys and sells.
Updown.com provides convenient online stock trading practice for free that people interested in learning the ways of the market should be sure to check out. At the site, actual purchases and sales of various securities may be made with virtual money, and users can see how their decisions with real money would pan out, and adjust their trading tactics accordingly.