What is a stock market simulator?
Knowing how to invest in the stock market is an important financial skill. However, it can be intimidating to dive into the world of stocks without knowing where to start.
But fear not! We’ve put together a little guide to introduce you to one of the most important parts that every trader should know: The Stock Simulator.
A stock market simulator allows you to explore the world of stocks without putting your money at risk, so you can practice all the necessary operations while you train yourself, without wondering: Can I mortgage even my dog?
Let’s start with the basics What is a stock market simulator?
A stock market simulator is, as the name says, a simulation of the stock market that allows you to practice buying, selling and holding shares, for example, in an extremely safe environment.
In this simulator you can view the charts of each asset and perform the necessary calculations.
Many professional traders use this tool on a daily basis to plot new strategies on assets they are not yet familiar with.
For example, you may have the ability to trade futures well, but when it comes to stocks you lack the practice to know the market movements. In that case, a stock market simulator is the perfect ally for learning and experimenting.
How do stock market simulators work?
Most simulators give you a fictitious amount of money and encourage you to trade on the charts as soon as you feel ready on the platform.
Naga is a trading simulator that offers you a DEMO account with $10,000 to trade at your own pace, as well as popular tools such as Social Trading, which allows you to learn from the experience of other traders.
How to get started with trading simulators?
To get started with trading simulators, first create a free account. Then it’s as easy as completing a simple tutorial, which you can follow along with the free lessons provided by the platform.
This tutorial is designed to familiarise you with the basics of stock market trading, the simulator’s tools and how its charts work.
Naga is designed to familiarise you with the basics of stock market trading, even if you are just starting out and have not yet been trained.
Before using the simulator, it is important to choose a strategy and method to follow, as not all traders are able to trade under the same rules.
Some prefer to trade in a matter of minutes, known as Scalping, while others prefer to make long-term investments with trades open for years.
With a trading simulator, you can have a good starting point to learn what your profile is as a trader and master the necessary strategies without putting your money at risk.
However, a simulator is no substitute for financial advice and proper education, so we recommend you learn with the best.
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