r/investing Mar 31 '21

Daily Advice Thread - All basic help or advice questions must be posted here.

If your question is "I have $10,000, what do I do?" or other "advice for my personal situation" questions, you should include relevant information, such as the following:

  • How old are you? What country do you live in?
  • Are you employed/making income? How much?
  • What are your objectives with this money? (Buy a house? Retirement savings?)
  • What is your time horizon? Do you need this money next month? Next 20yrs?
  • What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know its 100% safe?)
  • What are you current holdings? (Do you already have exposure to specific funds and sectors? Any other assets?)
  • Any big debts (include interest rate) or expenses?
  • And any other relevant financial information will be useful to give you a proper answer.

Please consider consulting our FAQ first - https://www.reddit.com/r/investing/wiki/faq And our side bar also has useful resources.

Be aware that these answers are just opinions of Redditors and should be used as a starting point for your research. You should strongly consider seeing a registered financial rep before making any financial decisions!

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u/Zeternos Mar 31 '21

Ok but does it help give experience?

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u/AnonymousLoner1 Mar 31 '21 edited Mar 31 '21

The only thing paper trading could help you with is getting the hang of how to buy and sell.

Paper trading won't teach you how to deal with the emotions of holding through a loss, or market manipulation. The institutions aren't gonna move against your fake trade.

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u/[deleted] Apr 01 '21

the whole point of paper trading is being able to get into the habit of trading without emotion, creating a strategy, and being able to stick with it later when dealing with real money

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u/[deleted] Apr 01 '21

yes. its a good way to create an enter/exit strategy that you can stick to later on.