21 Aug

What is Papertrademe.com?

The Idea

Create a platform to allow people interested in trading commodities to practice risk free.

With our platform, users will be able to mock trade commodities using real, live conditions, such that if it were a real trade the user would have made (or lost) the money if it had been invested in the commodities market. Having experience in trading commodities ourselves, one of the most essential aspects of trading commodities is what is referred to as “paper trading”. Paper trading is simply pretending you’re in the market and tracking your progress based on real market conditions. What we wanted  to create was a better way to track these paper trades – an automated way that allow us to focus on the actual trading rather than trying to keep up with the daily calculations needed to paper trade.

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Thus was born papertrademe.com! Papertrademe.com will allow aspiring and professional commodity traders alike a place to practice and test out trading ideas and theories all at no risk to losing real money! We’re really excited about this and know that it will be a well-received platform.

Interested?

Good. Here’s what you can do to keep up with the development of this project.

So, with many thanks and much appreciation, thank you for your support! Please stay in touch and share, share share!

The Bushel Boys

19 Aug

Progress Update

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We are so close!!  We have passed through the design stage of Papertrademe.com so qucikly, that it seems we blinked, and it was finished.  I would like to send a shout out to Matthew Schraud at www.seeyournarrative.com for the help with the design.  He did a great job, and the turn-around time was amazing.

Hopefully you are wondering what it is that we have built?  The goal from the beginning was to build the easiest and best way to paper trade commodities/futures on the internet. With our design, we believe that we have, hands down, the cleanest and most user-friendly site out there.  One of the main ways that we are keeping things clean is by the minimal advertising. There are no crazy banner ads, no brokers vying for your attention or your money. This desire to keep it clean stems from our many days of paper trading online in the past. We were inundated with the constant advertisements telling us we were ready for trading. But the truth was that we were not ready. Because of that we lost money.

Looking back, we should have spent a bit more time losing (or making) virtual money by practicing on paper – aka paper trading. But greed, or ego, or simply being unaware got us into trouble.

The only money you will lose with us is virtual money.  You tell us what your virtual limit is, and we help you stick to it. There’s no risk! But you’ll be trading as if it there was!

The days of paper trading in the dark are over.  We are bringing it into the light and it is beautiful.  We here at papertrademe.com adhere to the philosphy that “practice makes profit”.

14 Aug

Jimmy Fallon, Dana Carvey and the Art of Practice

The other day I was catching up on my Jimmy Fallon clips and watched the very funny Dana Carvey and Jimmy Fallon doing “Wheel of Impressions”. They took turns doing spot-on impressions of Al Pacino and Arnold Schwarzenegger. But it was a comment at the beginning that really took me by surprise. In fact, it was a comment that was hardly even a comment at all. It was just said in passing. Fallon, referring to Dana Carvey’s impressions, said, “I love your impressions, obviously, and I’ve studied yours.”

“I’ve studied your [impressions]…” -Jimmy Fallon @fallontonight

Wait, Jimmy Fallon doesn’t just DO impressions? He has to “study” them? Does that mean everyone has to study to do impressions? They can’t just do them? I can just picture Jimmy Fallon standing in front of his mirror practicing his Al Pacino impression. No one is laughing at him or criticizing him. But his confidence goes up with each practice, so that eventually he can go out before his audience of thousands and entertain us.

Maybe this isn’t as shocking as it was to me, but it really got me to thinking, Hey, if Jimmy Fallon can LEARN to do impressions, why can’t I? Why do I have to just stand in awe of his work when I can do the same thing myself? Honestly, I can! I’ll never be Jimmy Fallon, but I can be just as good at something that he does…or even better.

Knowing this kinda takes away the intimidation factor, doesn’t it?

falloncarvey

And that’s exactly what we’re trying to do with trading futures by creating papertrademe.com! Trading commodities is intimidating, but you don’t have to sit back and just stand in awe of people who do it well, you can LEARN to do it, too! Papertrademe.com is a platform where you can practice trading in real, live conditions with absolutely zero risk. It’s like practicing in front of a mirror in your bathroom. With each practice trade you make, your confidence level goes up so that you can one day trade with real money.

And that’s why we like to say, “Practice Makes Profit”.

Come over to papertrademe.com and sign up today!

11 Aug

Should You Paper Trade Commodities?

pretending

Paper trading, also known as virtual trading or mock trading, enables you to mock-trade commodities, commodities or other investment instruments as if you were trading them for real money. Now, what is the point of such trading?, you might ask. Why waste time “pretending” to trade for real, when you can actually trade for real? That is the question many aspiring traders ask. If you too have doubts about paper trading, read on to know why it’s vital to the success of trading in the real market.

Education

If you are new to the world of commodity trading, then paper trading is the first wise step you should take. When you are still in the process of learning, it is not a good idea to trade in real money. If you do, the chances of you losing a lot of money are very high. Paper trading is a form of simulation training that allows you to get a feel of real money trading in the commodity market, without the risk of losing any money.

Right Track

Paper trading not only introduces you to the world of commodity trading, but also helps you develop your own strategies that can be tested and tried without any risk. These strategies, if successful, can be used in real money trading once you are ready. Even experienced traders who are having a hard time in the market may resort back to paper trading to identify their errors and get back on track to making profit.

It’s Fun

As there is no risk of losing money, you will absolutely enjoy the process of trading on simulated markets. This means that you will actually have fun learning about trading! The joys of paper trading can even be addictive!

If you’re interested in learning more about papertrading, be sure to joinpapertrademe.com and learn the tools and tips of the trade! #punintended

20 Jul

What is Paper Trading?

What is Paper Trading?

If you have finally decided to invest in futures, there is no better way to test your intuitions and strategies than to get in there and start trading! This method, while being an invaluable teacher, will also put you at some serious monetary risks. The market will not spare inexperienced traders or untested strategies. There are ways to assess your plans and sharpen your skills on the trading floor without actually losing or making any money. This is called paper trading.

What is paper trading?

Paper trading is trading that happens only on paper. Trading on paper allows you to trade in real time conditions using real market indicators and prices. The only difference is there is no money or actual futures contracts involved, so there is no risk of losing money. It is merely a trading exercise that will let you have ongoing practice to test out your strategies.

How to start paper trading?

When you start paper trading you should have a strategy mapped out. You should have an idea of how much money you would like start with, what kind of commodities you are looking for, the margin and maintenance costs, what price they are trading at and what your stop loss level is. You should be clear about entry and exit. Most important of all, you have to be honest and serious; do it like your money is really at stake. So aversion to risk and return objectives should also be set.

  • Step 1: In a dedicated notebook, write down the total amount of money you would like to start with. This starting balance is only paper, so you can make it whatever you want. Start off with a good amount and keep it round for simplicity of calculation.
  • Step 2: On a sheet of the notebook write down the name of the commodities you would like to invest in and the current market prices next to them. Do not go about rounding off, stick to the exact values.
  • Step 3: Track your investment every day. See your results in each and every day! Of course, don’t forget to calculate taxes and broker fees. In a separate blog post, we’ll share on how you can calculate profit and loss.

This process, though vital to success in the futures market can be a bit tedious. Papertrademe.com is an online paper trading simulator where you can or mock trade exactly like explained above. It will track all the data and runs the numbers for you automatically! We do all the hard work. All you have to do is make the trades! This makes the whole experience much more current, realistic, and realtime. Check out papertradme.com today!