How to Practice Online Stock Trades

Never walk the stock market tightrope without practicing first.

Practice online stock trades before risking your hard earned money. If you take the time learn to trade stocks like a pro, you just might save your shirt when you go out into the real stock world.

Things You'll Need

• access to the internet
• email address

Instructions

1. Find an online mock stock trading website. A mock trading website allows you to practice online stock trades without risking real money. There are many websites to practice trading stocks, so pick the one that's easiest to use for you. Some examples of online trading practice websites include the Virtual Stock Exchange on MarketWatch.com, HowTheMarketWorks.com and WallStreetSurvivor.com.

2. Register with your chosen mock trading website to start practicing online stock trades. Use a site that does not ask for personal information or charge subscription fees. You should only provide your name and email in order to register. These sites make money through advertising not subscriptions, so do not provide your Social Security Number or bank account information.

3. Practice, learn and make mistakes. Go ahead, pick some crazy stocks. Get the hang of buying and selling stocks online. Remember, you're not risking money so be a high-risk day trader and feel the excitement.

4. Compete when you practice trading stock online. Enter online contests and find out how you're doing against other people. This is how you'll really learn, by challenging yourself.

5. Set goals when you practice online stock trades. Create scenarios that will challenge you to learn more.

Tips & Warnings

• Online stock trading is fun and a great way to take control of your financial future.

• This can be addictive; have the discipline to walk away.

References

• MarketWatch: Virtual Stock Exchange Games
• How The Market Works: Practice Trading
• Wall Street Survivor: Learn Trading