Hi I am new to investments and stocks, is there any platform where I can try a trading simulation or like share market game of sorts? - Seedly

Investments

Asked by Su Wong

Asked on 06 Jun 2018

Hi I am new to investments and stocks, is there any platform where I can try a trading simulation or like share market game of sorts?

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Joash Chua
Joash Chua

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Level 3. Wonderkid
Answered on 06 Jun 2018

If you are new to investments and stocks, I do suggest reading books like The Intelligent Investor or anything by Warren Buffett, and studying some finance 101 to get you up to speed about understanding financial ratios.

You may try your hand on a trading simulator but frankly the amount of time you spend on the simulation is going to be a poor return on your invested time. I know the saying goes "practice makes perfect" so more time on simulator means you get good at investing right?

Unfortunately, no. Perfect practice makes perfect. If you don't know what you are doing on the simulator, you will still have no idea what you are doing 100 hours later. Investments take a lot of time, investments demands you do your homework and really study, and investments do not tolerate short cuts (like buying/selling based on a tip from friend of friend etc.). That's speculating, not investing.

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Gabriel Tham
Gabriel Tham
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Top Contributor (Aug)

Level 8. Wizard
Answered on 06 Jun 2018

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Start by knowing yourself first. Why do you want to invest? What is your investment psychological profile like? Will you be able to sleep well at night if the value of your investments plunge? Read up readily available material like the intelligent investor, learn to earn or financial blogs like investment moats. These will give you a grasp of what doing investment is like. The only platforms I know that allows simulated trading is oanda and thinkorswim. The former is meant for forex while the latter only covers US market. Hope this helps

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Jonathan Chia Guangrong
Jonathan Chia Guangrong

18 Sep 2018

Can also consider this book, millionaire teacher
Kenneth Lou
Kenneth Lou

18 Sep 2018

Cool! yeah recommend reading and understanding Investment Moats' Wealth Machine idea: You can also read it here: http://investmentmoats.com/wealth-building-2/my-best-friend-asked-me-how-to-become-wealthy-this-is-what-i-told-him/
Nicholas Chan
Nicholas Chan

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Level 5. Genius
Answered on 17 Sep 2018

Thinkorswim has a demo account functionality that u can try virtual trading

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Gabriel Lee
Gabriel Lee
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Top Contributor (Dec)

Level 6. Master
Answered on 17 Sep 2018

Used TradeHero before in the past, great way to try out with virtual money. But take note that the experience when trading with virtual money and real money is quite different because of your emotions etc.

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Good Day Every Day
Good Day Every Day
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Top Contributor (Nov)

Level 6. Master
Answered on 16 Sep 2018

Philips Capital, TD Ameritrade

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Dwivid Sharma
Dwivid Sharma

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Level 3. Wonderkid
Answered on 22 Aug 2018

There are some broker providing demo trading feature with stocks trading. I think this might help you to learn how trade safely with real price movement.

Try to open an account with this broker

  1. OCBC Securities
  2. IG Singapore
  3. PhillipCapital

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