I had very little know-how on how the stock market actually worked. “I” was the problem.Īfter all, I didn’t take the time to learn and practice investments through paper trading – I just wanted to be a part of the “get rich quick” business like my friends. I decided it was the stock market’s fault and not the reckless decision-making.įinally, I stopped playing the blame game and realized that it wasn’t the stock market that was stacked against me. I was just hungry for seeing investments returns and things, unfortunately, took a turn for the worse I made the fatal mistake of trading with actual money, rather than practicing with paper stock trading as I should have.īefore I knew it, I was buying and selling stocks with reckless intent.Įventually, I lost pretty much every cent I had and that was a harrowing experience which I don’t have the words to describe. I started making blind trades without any real strategy. However, unbeknownst to me at the time was my sheer lack of knowledge and experience. I wanted in – I wanted a taste of that mone y. I had witnessed a lot of my friends and acquaintances taking huge gambles and making thousands almost overnight. I was a young and hungry investor at the time, completely new to stock investments. Before proceeding any further, I just want to quickly share with you how things went from bad to worse for me, simply because I failed to take paper trading seriously. Trust me, I’ve been there and don’t want you to be in the same position. The benefit lies in the practice of making real trades without real money, because frankly speaking, newbie stock trading can be a scary thing. When you plan to invest any given sum of money, you’d want to see the effect it has before you actually take the plunge with real money. Paper trading is very useful for a number of reasons. Paper trading is basically the notion of trading with fake or pretend money to see what outcome your investment decisions might lead to. To effectively make use of paper trading practices, we’re going to make use of paper money or “fake” money, if you will. The Bottom Line What is Paper Trading & Paper Money?
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