Not ready to risk your money on the stock market? Do this first…

Julie Brownlee, Fsp Invest, 07 Oct. 2015

Tags: paper trading, what is paper trading, practise investing, investing in shares, stock market

If you want to start investing, the fear of risking your money on the stock market may be holding you back.

So how can you get over this fear?

Read on to find out…

Practise investing first with paper trading

If you’re scared about investing on the stock market and whether or not your picks will make the grade, there is something you can do about it. Practise instead.

So how can you practise investing on the stock market? You can paper trade.

Paper trading involves all aspects of investing on the stock market, except you don’t use any of your money.

You research stocks and pick ones you’d like to buy. Decide how much you’re willing to pay for these shares and note down a reasonable target price.

Instead of phoning a stock broker to buy the shares for you, you write down all the details instead or use one of the free portfolios you can use online.

Then you monitor what happens over a period of time. You can see if your picks perform or not.

The advantages of paper trading

There are two main advantages to paper trading.

Firstly, it will help you to learn more about investing and the stock market. You’ll have to find out where is best to source information from and how to go about it.

And secondly, it will help you to manage your real portfolio when you invest your money. You’ll start following what’s happening on the stock market and with the shares you ‘own’.

So there you have it. Why you should do this if you’re not ready to risk your money on the stock market.

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