Trading Education

FOMO and Trading

Posted on

Trading and FOMO FOMO stands for Fear Of Missing Out.   This is an emotional trap of trading psychology for those who are risking actual money.  While trading simulators are perfect for perfecting your trading strategy or trading strategies.  The reality is it is very common to be able to make money while trading “fake money”  I would say that this is a good first step.  You should make money paper trading before you start trading with real money.   However, it is really important that the trading methodology that you are practicing has a realistic risk control in place.  Why? Because when you start to see a stock or cryptocurrency start to move and you have this strong urge to jump into a trade for fear of missing out.   Your emotional greed or is overpowering the logical part of your brain. It also can come from our need of action or stimulation. After all, how many times a day do you look at your phone to check on the news, social media, or that ding of a text that just came in. How to overcome FOMO in trading Step 1. You should keep some sort of trading diary and journal.  […]

Learn to Trade

Wall Street Survivor Trading Simulator & Education Review

Posted on

If you are looking for a bunch of information about learning how to trade stocks and also are ready to be hit with free offer after free offer then this is the site for you. The upside is the gamification of the site with investing leagues etc. can really fuel your competitive nature. Since Wall Street Survivor is not a brokerage you also do not need to open up a trading account and provide sensitive information. Here is the downside about all paper trading accounts, trading demos, and trading simulators. They do not replicate the actual fear and greed that comes when you have your real hard-earned money on the line. The actual process of signing up for Wall Street Survivor is as simple as filling out a form and password. Since it is browser-based there is no need to install trading software. I think this site is really great for someone that is wanting to learn the basics of trading stocks and is willing to sift through the offers to find the free trading course content. What I really do not like about the site was there is nowhere to create a watchlist that you can monitor a basket […]

Learn to Trade

Trade Orders Explained

Posted on

Trade Execution in the Financial Markets A bit about how trading works.   Trading is best described as an auction market.  On one side there are buyers who are bidding to purchase a security like Amazon or a cryptocurrency like Bitcoin.   On the other side are sellers who are asking for a price to sell a stock like Amazon or a cryptocurrency like Bitcoin.  These are commonly referred to as the Bid and Ask or Bid and Offers for a given market.  The best way to visualize this is to stack them up in two columns one side is the buy-side and the other is the sell-side with the trading prices in the middle.  Those bid and offers also show how much volume I behind those prices. Basic Order Types 1. Market Order A market order is a trade order to purchase or sell a stock at the current market price. A key component of a market order is that the individual does not control the amount paid for the stock purchase or sale. The price is set by the market at the time the order is executed. When you are buying with a market order you will be matched with […]

Trading Platform Review

Robinhood or Webull For Stock Trading?

Posted on

Trading Simulator Review Webull v. Robinhood. Financial trading disrupters Robinhood and Webull both offer commission-free trading to investors looking to open up an account. However, in terms of providing a paper trading account to test your trading this battle never even started. Webull is the only one that offers a demo account to trade without risking money at the time of writing this article. About Webull Trading Platform Webull offers an easy to download platform for Mac, Windows, Mobile and the browser chrome. I was able to download and in a couple of clicks be able to view stocks, options, bonds, ETFs, and Cryptocurrencies. In terms of a low barrier to testing out a platform this was about as easy as it gets. After downloading the Mac version of Webull software for my laptop I was us and able to start customizing a watch list of stocks to paper trade. The charting capabilities were pretty standard but intuitive to use. At the top of the chart are the various time intervals that you can use from minute charts, hourly, daily, weekly, etc.. The ability to select between bar charts, candlesticks, line or area charts, etc. was really easy to switch […]