How about a TEST system for inexperienced traders?

Help improve Bet Angel.
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SteveJeffrey
Posts: 3
Joined: Wed Apr 15, 2009 11:52 pm

Hi All,

I've read through many of the posts over the past week, and this is my first post. I am sure this forum will grow into an invaluable tool for sharing great ideas to make us all more profitable. :mrgreen:

One of the big problems that many new traders have is in having the confidence to trade, and unfortunately, we all have to start risking our own money from day one, experienced or not.
It would be great if new traders could try out trading tactics in a safe test environment, which could perhaps be replaying data recorded from previous days races to allow us to practise entering and exiting markets, trading techniques etc.. Having access to a test system is a fairly common thing in other trading environments, and allows new traders some room to practise before they start risking their own money.

Has any thought been given to this idea in the past? What would it take to create a test environment that we could point our version of BA to?

I look forward to reading and sharing more ideas and suggestions over the coming weeks.
In the meantime, may all your "trades" be profitable... :mrgreen: :mrgreen:

-Steve
User avatar
TheRiddler
Posts: 102
Joined: Sat Apr 25, 2009 5:02 pm

One problem with a test is that it will fall short of 'real' trading. A bit like all those exams we endured in the past such as French, only then to go to 'real' France and find your knowledge of the language to be inadequate (especially with the regional differences.) You would be better off watching real markets form etc. and take everything from there. If you use small stakes ( I believe the min. is £2) then you're going to put little capital at risk.
Don't forget that there is more than one exchange and exposure to all may help you along the way.

Also why don't you record your real trading using screen capture(I think camtasia is popular.) Then you could replay your day's work and see where you judged the market incorrectly/correctly. You would be able to do this as many times as you wished with as many markets as you wished.

I'll leave others to add more and good luck.
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