Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

vatofl88

Free Demo Account

Recommended Posts

I am interested in day trading and would like some advice on various free simulation/demo accounts that I could use to begin papertrading. Once I get comfortable in the demo account and I learn more about day trading, I would like to work with with a prop firm such as cy group and starting making real trades.

 

What I am looking for is an simulation/demo account that is going to be as close as it gets to real live trading and having a real account with prop firm/or general retail account. Meaning something that will give me access to stop/loss, p&l statements, etc.

 

I have seen a few places mentioned such as interactive brokers, infinity trading, ninja trader, etc. All I am looking for is something free that is very similar to the real thing. Thank you for the help.

Share this post


Link to post
Share on other sites
I am interested in day trading and would like some advice on various free simulation/demo accounts that I could use to begin papertrading. Once I get comfortable in the demo account and I learn more about day trading, I would like to work with with a prop firm such as cy group and starting making real trades.

 

What I am looking for is an simulation/demo account that is going to be as close as it gets to real live trading and having a real account with prop firm/or general retail account. Meaning something that will give me access to stop/loss, p&l statements, etc.

 

I have seen a few places mentioned such as interactive brokers, infinity trading, ninja trader, etc. All I am looking for is something free that is very similar to the real thing. Thank you for the help.

 

IB paper trading (not the demo!) is fine. (It's free once you create the account) . Can have multiple paper trading account.

 

Tom

Share this post


Link to post
Share on other sites

I use the IB paper trading account, that works fine and it works the same as my real account. Ofcourse you need a relevant data subscribtion and a normal IB account to have access to the papertrading account.

Share this post


Link to post
Share on other sites

What size account are you thinking of opeing?

 

If you open a decent size account (10,000+, maybe in some cases a little less) most brokers have a demo account with live feeds that are pretty realistic. NinjaTrader has an excellent simulator given a real time data feed. That will meet the requirements you stated above.

 

You mention trading with a prop shop like cy group; do you mean immediately once you get comfortable with the demo account? You might do a search on cy group to see how they are thought of; I don't personally know anything about them.

 

Scott

Share this post


Link to post
Share on other sites

I use Go Markets real and Demo for all the indicators etc I develop and use.

You can read about them on my Indicator Website.

(Moderator: Promo URL removed)

They could be just what your looking for.

Cheers

Brooky

Share this post


Link to post
Share on other sites

What products are you intending to trade?

 

I primarily trade ES emini's, have a ToS account and intend to move it. Recently demo's the BestDirect platform w/ PFGBest, it was the closest to live trading I've experienced. By that I mean one does not get an instant fill when a limit or stop price trades, but it simulates actual fills, unlike paper money w/ ToS, or other simulators I've used.

Share this post


Link to post
Share on other sites

The next challenge u will face is one of going back and looking at historical trades, any thing beside real data coming in is historical.. Depending on the time frame of ur charts and how close to the tic ur entries and exits are, u might spend ur whole career trying to figure out, why the backtrading looks so good but I lost my account real time.. The most pure historical data is tic data,, but finding enough of it in the platform u like and can afford, will be the next challenge which is really the first challenge.. Charts may change subtly everytime u reload the chart.. Also some of the providers skip tics or the volume data is inaccurate if ur trading system depends on these... The further u get away from minute bars the more ur charts may change on reloads..

 

Wish I would have known this 15yrs ago.... :2c:

Edited by gg80108

Share this post


Link to post
Share on other sites

Getting historical quotes are a challenge. I like to work with 1 minute bars, but historical quotes are generally 1 day bars. Attached is an Excel spreadsheet that downloads your stock symbol data from Yahoo to a csv formatted file. There's one csv file for each symbol. From there you can import the data into your trading platform.

 

If anyone finds free historical data with 1 minute bars, please reply and let me know how to get it.

Excel Historical Quote Downloader.zip

Share this post


Link to post
Share on other sites

if u have a data feed ,use ninja trader,,,,,every thing is real in demo.historical data is free end of day in ninja with kinetick as well.u can test your strategies and indicators as long as u want.

Share this post


Link to post
Share on other sites

The situation one runs into using data "bar data" aka: OHLC , End Of Day, Was the High price made before the Low price or versa? Can make a real difference in some systems especially minute bars that the range can be vast in one minute, when the entry and stop could be hit on the same bar..

Its one thing recognizing the various charting formations after the fact(bar data), (i'm 100%) but recognizing the patterns as they are occurring, priceless... :)

Share this post


Link to post
Share on other sites

I know that NinjaTrader as well as MetaTrader are free; however, the data sources are free depending on the brokerage company you get them from. So where did you get your download of NinjaTrader and what broker do you use as a data source? Also does your free data source include stock data? Thanks for the info.

Share this post


Link to post
Share on other sites

Opening demo account with a broker that has MT4 (Meta trader 4) platform is a good idea. It's free, some brokers require you re-open new demo after 3 months or so, some let you keep demo forever. Many brokers with MT4 are forex, but some also have futures and stocks. You can open demo and write the amount of money, and you trade these virtual money under the exact conditions you would trade real. No data delay.

 

The problem is that if you want to trade futures, better don't use "bucket shops". But as far as demo is concerned, then you have no risk.

 

Plus there is a way to import historical data to MT4 and keep the platform off-line, treat it as your charting software. You would need to update data by hand thereafter, but you know, many people still keep doing this using various charting software using EOD data.

 

I did that to backtest many markets, once I had data on my excel sheet (which you need to obtain from some source, and I really think there are many possibilities to get it free of charge) you import it into MT4. That depends if you need data for floor traded session or not.

 

Anyway, i feel MT4 is worth trying, free, many indicators, you can make your own, etc.

 

One thing I wouldn't trust is MT4 strategy tester.

I always test by hand, bar-by-bar.

 

Happy New Year.

Share this post


Link to post
Share on other sites

i have a real time acount with IB(interactive brokers)charges for data are very low,,downloads for ninja is available in there support forum.almost every thing is there.or u can try bigmiketrading.com

goodluck

Share this post


Link to post
Share on other sites
There is a 20 minute delay with their paper trading, but you can try Think or Swim

 

I went through the process of tos, but they wanted me to fax forms and fund the account. I am just looking for something simple, where I can exchange some basic info, open account, and start paper trading.

Share this post


Link to post
Share on other sites

only in forex,,real time data is free for demo.if u want real time demo,u have to open an account with some stock/future broker,,,like IB,MIRUS,VELOCITY,AMP or GLOBAL FUTURES, or some like this.u can fund your account and stay in demo as long as u able to go for live trade.it depend what u like to trade

Share this post


Link to post
Share on other sites

I used Alpari's demo platform and am now trading for real on their micro account. The demo is very authentic albeit with the smaller spreads associated with their professional account which needs $20,000 to start trading with unlike the micro which needs $200 to start trading. However, I think this is no issue unless you are trading less than a 15 minute chart. However, Alpari is for Forex and some cfd's. Unlike some other organisations, there is no time limit on practicing on their demo.

Share this post


Link to post
Share on other sites

Yes this is a rubrics cube, which dominated more time and frustration which I care to admit, getting the platform/charting/order entry with the indicators, the broker is the least consideration, since they all have competitive fees now...If u venture outside of the standard indicators that every charting package has.. Think I would go for TradesStation,, cause u get what u pay for... I'm a Ninjatrader now due to the various gurus I followed over the years, but seem like most pro traders depend on TradeStation..

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • China’s New Cryptocurrency   China plans to release a new digital currency which would bear some similarities to Facebook’s Libra coin. It would be usable across several platforms like WeChat and Alipay.   In a recent interview with the Shanghai Security News on the 6th of September, the deputy director of the People’s Bank of China, Mu Changchun, stated the purposes and the need for the new digital currency. He stated that the central bank needed to evolve from the use of traditional paper currency and delve into electronic payment methods which are making strong advances around the world. He said that the digital currency would be a realistic way to protect monetary sovereignty and legal currency status, stating that this digital currency initiative was a way of planning for a rainy day.   He also mentioned that digital currency would be as safe as the traditional central bank-issued paper notes and that it could even be used without requiring an internet connection. This offline feature is one of its major selling points as monetary transactions can still be carried out even in the face of communication breakdowns resulting from natural disasters like earthquakes, tsunamis and so on.   In 2014, the Chinese central bank set up a research party to explore the possibilities of a China-based digital currency to reduce the costs of producing and circulating paper money, which in turn would boost policymakers’ control over the supply of money.   Information about the development of this new digital currency was unknown to the public until last month when Mu announced that the innovation was almost ready.   US-based financial magazine Forbes has made claims that the currency would be ready by November 11.   Analysts are saying that the announcement made by social media giants, Facebook on the release of its digital coin, Libra, is the reason for the acceleration of the push towards digital currency by the PBoC.   Mu made mention of how the new digital currency would strike a balance between allowing anonymous payments and preventing money-laundering as compared to Libra. Although the Chinese digital currency may bear some resemblances with Libra, it would possess characteristics that even Libra didn’t have.   Facebook’s Libra Facebook’s Libra has sparked a lot of worries among global regulators that it could become the predominant digital payment format and could become a medium for money laundering considering the social media’s wide reach.   Libra is said to be a digital currency that would be backed by several real-world assets, including bank deposits and government securities, and it will be held by a network of stewards. The structure of Libra is predicated on promoting trust and to stabilize its price.   Finally, Mu further discussed the superiority of the digital currency over altcoins was that others could go bankrupt and cause its users huge losses. Thus he said, can never be the case of PBoC’s new currency.   Source: https://learn2.trade         
    • Facebook’s Libra To Apply For Licence In Switzerland   Swiss financial regulators have signaled that Facebook’s cryptocurrency, Libra is mandated to meet up to extra requirements besides acquiring a payment system license before they can begin operations in the region.   In a recent press release, the Swiss Market Supervisory Authority (FINMA) explained that the diverse services projected by Libra have created the need for adding the requirements being imposed. They stated that due to the issuance of payment tokens by Libra, the operations planned by Libra would clearly exceed those of a pure payment system and therefore should be subjected to such extra requirements.   The Extra Regulatory Requirements According to FINMA, the extra requirements would be targeted specifically at liquidity, risk concentration and capital allocation.   The financial regulators of Switzerland have also noted that the management of Libra is another element necessitating the demand for Facebook to meet extra requirements concerning its cryptocurrency initiative.   In the launch of the Libra white paper in June, Facebook noted that the reserve would be controlled by a web of custodians who would be spread across different geographies. The so-called custodians will be mandated to possess an investment-grade credit rating.   Also, Facebook noted that the real assets used to back the Libra cryptocurrency would be a selection of low-risk assets such as bank deposits and government securities.   What Form Will these Extra Libra requirements take?   According to FINMA, the extra regulatory requirements that Libra would have to meet would be nothing different from what other participants in the financial markets have to adhere to.   For example, Libra would be expected to be exposed to certain bank-like rules such as a large simultaneous number of withdrawals of Libra coin by users would have to be palliated by the application of certain bank-like regulatory requirements. This means that Facebook would be required to obtain a banking license. This idea has been pushed for in the past by U.S. President, Donald Trump.   FINMA also mentioned that Libra’s international range will mandate a globally coordinated approach. This new development would drastically delay the launch of the cryptocurrency.   U.S. Pressures Switzerland over Libra Cryptocurrency Switzerland is under intense pressure from the United States to ensure that its cryptocurrency regulations are not prone to misuse. Facebook chose the Central European nation as its hub because of the country’s progressiveness towards FinTech.   According to a report by the Wall Street Journal, officials from Switzerland and U.S. Held a meeting in Switzerland earlier this week, where they discussed matters surrounding the new cryptocurrencies regulations.   The U.S Undersecretary of the Treasury for Terrorism and Financial Intelligence, Sigal Mandelker, emphasized his concerns over the need to have regulations strong enough to fend off bad actors. He mandated that the Swiss handle these concerns with all importance.   Source: https://learn2.trade   
    • I don't agree with you. There are dozens and dozens of brokers that are regulated by the CySEC or FCA.
    • Just one more question. How many real REGULATED crypto BROKERS can we find? Correct, the answer is ZERO!! Please stay away from trading cryptos.
    • EU was stopped for -.5. Current stalk EU
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.