Paper Trading Futures – A Guide
As discussed earlier, paper trading is the trading without real money. Unlike other trading fields, futures and commodity paper trading require special attention because of the diversity of markets.
Many futures trading brokers offer you free paper trading account with a hypothetical trading account, with usually the amount you choose. Using this account you can trade various futures markets trading oils, gases, grains, meats, metals etc. The major factor determining your trading ability to various markets is the money in your account.
If you are a proposed small-scale trader with a paper trading account of around $10,000 you can easily trade Wheat, Corn, Sugar, certain meat markets etc. If you want to trade metals and minerals, you may need a slightly bigger paper trading account. And if you are interested in trading crude oil, natural gas, etc you will need larger accounts, not less than with $25,000.
Although you can trade any number of markets you want, it is advised to limit the number around 5 for easy in tracking the market status and charts. Remember, many futures brokers only offer paper trading for e-mini futures for at least $50,000 accounts. Finally from what ever account you are trading, you must monitor your trades and charts day by day using one real futures trading software.
Many futures trading brokers offer you free paper trading account with a hypothetical trading account, with usually the amount you choose. Using this account you can trade various futures markets trading oils, gases, grains, meats, metals etc. The major factor determining your trading ability to various markets is the money in your account.
If you are a proposed small-scale trader with a paper trading account of around $10,000 you can easily trade Wheat, Corn, Sugar, certain meat markets etc. If you want to trade metals and minerals, you may need a slightly bigger paper trading account. And if you are interested in trading crude oil, natural gas, etc you will need larger accounts, not less than with $25,000.
Although you can trade any number of markets you want, it is advised to limit the number around 5 for easy in tracking the market status and charts. Remember, many futures brokers only offer paper trading for e-mini futures for at least $50,000 accounts. Finally from what ever account you are trading, you must monitor your trades and charts day by day using one real futures trading software.
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