A few months ago, I was in
the position of wanting to start my own portfolio in the stock market in order
to get my feet wet with actually investing real money. I would be willing to
guess that many of you would like to start investing, but don’t exactly know
where to start and you are scared of losing it all in a short period of time.
So some of you may say, “Real money? Can I get a definition of fake money?” Well,
yes you can. If you have yet to do any day trading yourself, I strongly
recommend making an account on Investopedia. They allow you to trade exactly as
if you were trading with real money using their Investopedia Stock Simulator.
You start with $100,000 in virtual cash and, from then on, the ball is in your
court. For someone who has never traded before, I firmly believe it is crucial
to start off in a virtual environment before you start risking your own
capital. The website’s user interface is very inviting and easy to navigate
around. They even allow you to short sell shares, as well as buy call or sell put
options. Even if you already have a small portfolio in Scottrade or E-Trade
buying and selling stocks, it may be worth it for you to check out
Investopedia. That way you can learn how to use leverage with options, before
really putting your money where your mouth is.
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