TradingSim is a trading simulation software that allows you to practice trading whenever you want for any day from the past two years. This allows you to approach the market with less stress while you try new strategies and work on entry/exit management. When watching the market for the first time it will seem confusing and extremely fast so the more exposure you gain the more comfortable you will feel when stocks start moving quickly. Another really great feature is TradingSim provides all the market data so you won’t have to pay third-party data providers which will save you a bundle.
Trading has a steep learning curve and anything you can do to help lessen that curve is not only a monetarily smart decision but it will further your chances of survival in a very competitive and demanding career. The best part about this software is you can practice at your convenience and test strategies without the risk and the stress of trading real capital. I know it’s not the same as trading real capital but its an excellent way to fine tune strategies before you put real money on the line. I wish I would have know about this type of software before I started trading as I’m sure it would have saved me a ton of money. I am always testing out new strategies but when the market is open I want to focus on making money and not testing a strategy out so to be able to do this while the market is closed is a huge bonus.
I would also like to note that they have great customer service. They were quick to respond to my questions and were very nice and professional. Currently they only have email service so hopefully in the future they will add phone and maybe chat too.
Key Features & Cost
With TradingSim you will have access to tons of market data over the past couple years in an easy to use platform that only takes a few minutes to set up. With a subscription you will have access to two years of historical price action data and times and sales data for 11,000 securities on the NYSE, Nasdaq and AMEX. The software is fully customizable with drawing tools, indicators and rich graphics that is easy on the eyes. Once you are all set up you can select a day and a specific stock that you would like to trade and you can play it over as many times as you’d like while practicing your order entry and exits. Another cool feature they have is a fast forward function that allows you to replay multiple trading days in a much shorter time period. TradingSim offers a 7-day free trial with no strings attached and at only $16 per month you really can’t beat it. If you would like to check out a tutorial on their software here is a link with a video and some more info on their trading features and tools.
When I first started trading I didn’t even know these existed and if I did I would have definitely given simulation a try for a little bit before risking real capital. I lost a lot of money for quite a while before I seeked mentorship but there is no doubt that this type of software would have been beneficial to reducing my learning curve and would have saved me a ton of money. For the $16 per month ($192 per year) its worth checking it out and don’t forget you can use the 7 day free trial too.
As always if you have any questions or comments regarding TradingSim, please leave us a message below!