Play-money Investment Simulator?

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MotoTrojan
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Play-money Investment Simulator?

Post by MotoTrojan » Thu May 11, 2017 6:15 pm

Any good ones out there? Would like to play around with some non-bogle techniques such as options, and short-term trading :twisted: .

miketheboglehead
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Re: Play-money Investment Simulator?

Post by miketheboglehead » Thu May 11, 2017 6:32 pm

MarketWatch has a good one. We had a class contest in one of my grad school classes. We all started with 100k in play money and invested however we wanted to over the course of the semester.

MotoTrojan
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Re: Play-money Investment Simulator?

Post by MotoTrojan » Thu May 11, 2017 6:51 pm

miketheboglehead wrote:MarketWatch has a good one. We had a class contest in one of my grad school classes. We all started with 100k in play money and invested however we wanted to over the course of the semester.
Awesome thanks! I'll check that out. I actually found that OptionHouse (ETrades low-cost options trading platform) has one built in, so I made an account there.

Thinking about taking this on down the road (with real money) as a learning tool and for some fun speculation. Nothing crazy, probably open an account with $1000-$1500 and contribute $25/month or so.

GLState
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Re: Play-money Investment Simulator?

Post by GLState » Thu May 11, 2017 7:10 pm

TDAmeritrade has Papermoney, which uses the ThinkorSwim platform to trade stocks, options, and futures. https://www.thinkorswim.com/t/pm-registration.html . I've had an account for years, but I see its currently only for a 60 day free trial. You're using the same platform that you would be using with real money. https://www.thinkorswim.com/t/pm-registration.html

Marketwatch's simulator was easy to game. It allowed us to buy or short huge amounts of very cheap stocks without affecting price and with no costs. If a stock was going to be acquired, you'd want to short it, because Marketwatch showed the price going to zero. "Investors" often doubled or quadrupled their money in a month or two. Not very realistic...but they may have improved it since I used it. These simulators allow starting over. There is no do-overs in real life. In the simulators the goal is to make as much as possible....there is no concept of risk. IMO...they are poor way to learn about trading.

When I was in Junior High (40+ years ago), we "learned" about the stock market by picking a few stocks and holding for a couple of months...we had to look in the newspaper for quotes back then. Buy the cheapest stock that had just been hammered and hope for a rebound...you either come in first or last. A poor way to teach investing for a lifetime.!

MotoTrojan
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Re: Play-money Investment Simulator?

Post by MotoTrojan » Thu May 11, 2017 7:38 pm

GLState wrote:TDAmeritrade has Papermoney, which uses the ThinkorSwim platform to trade stocks, options, and futures. https://www.thinkorswim.com/t/pm-registration.html . I've had an account for years, but I see its currently only for a 60 day free trial. https://www.thinkorswim.com/t/pm-registration.html

Marketwatch's simulator was easy to game. It allowed us to buy or short huge amounts of very cheap stocks without affecting price and with no costs. If a stock was going to be acquired, you'd want to short it, because Marketwatch showed the price going to zero. "Investors" often doubled or quadrupled their money in a month or two. Not very realistic...but they may have improved it since I used it. These simulators allow starting over. There is no do-overs in real life. In the simulators the goal is to make as much as possible....there is no concept of risk. IMO...they are poor way to learn about trading.

When I was in Junior High (40+ years ago), we "learned" about the stock market by picking a few stocks and holding for a couple of months...we had to look in the newspaper for quotes back then. Buy the cheapest stock that had just been hammered and hope for a rebound...you either come in first or last. A poor way to teach investing for a lifetime.!
Oh MarketWatch doesn't simulate using the real market? Next.

I do like the idea of using the product I would ultimately consider trading with, so I'll probably try ThinkorSwim out once I get comfortable with OptionsHouse's simulator. My plan is to spend the next year or so tinkering with this in my spare time, and then when I hit a target number in my actual portfolio, allow myself to allocate $1000-$1500 to the broker of choice, and have some fun.

Apophis
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Re: Play-money Investment Simulator?

Post by Apophis » Thu May 11, 2017 7:51 pm


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whodidntante
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Re: Play-money Investment Simulator?

Post by whodidntante » Thu May 11, 2017 10:19 pm

TDA has one that is very good. The thinkorswim desktop app offers paper trading and includes margin and derivatives and some quant tools. Just make sure you are paper trading before you short s&p 500 eminis.

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Tyler Aspect
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Re: Play-money Investment Simulator?

Post by Tyler Aspect » Thu May 11, 2017 11:53 pm

MotoTrojan wrote:Any good ones out there? Would like to play around with some non-bogle techniques such as options, and short-term trading :twisted: .
Not a good idea; you will just pick up gambling tendencies and tie that with your investments. The thing I am still trying to improve is transaction minimization and patience. That is part of how to keep taxes to the minimum.
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MotoTrojan
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Re: Play-money Investment Simulator?

Post by MotoTrojan » Fri May 12, 2017 8:58 am

Tyler Aspect wrote:
MotoTrojan wrote:Any good ones out there? Would like to play around with some non-bogle techniques such as options, and short-term trading :twisted: .
Not a good idea; you will just pick up gambling tendencies and tie that with your investments. The thing I am still trying to improve is transaction minimization and patience. That is part of how to keep taxes to the minimum.
Valid concern. I see it as more of a learning opportunity, but perhaps taking 2-3% of my portfolio and purchasing common stocks I see value in, for buy-and-hold, is a better approach. For now, I am just going to mess around with monopoly money :D .

MotoTrojan
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Re: Play-money Investment Simulator?

Post by MotoTrojan » Fri May 12, 2017 1:48 pm

MotoTrojan wrote:
Tyler Aspect wrote:
MotoTrojan wrote:Any good ones out there? Would like to play around with some non-bogle techniques such as options, and short-term trading :twisted: .
Not a good idea; you will just pick up gambling tendencies and tie that with your investments. The thing I am still trying to improve is transaction minimization and patience. That is part of how to keep taxes to the minimum.
Valid concern. I see it as more of a learning opportunity, but perhaps taking 2-3% of my portfolio and purchasing common stocks I see value in, for buy-and-hold, is a better approach. For now, I am just going to mess around with monopoly money :D .
I could see how this could get addicting... Put calls in for SNAP @ $18 and $18.5 and have more than doubled my (monopoly) money! Maybe it is best to stick with monopoly funds.

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David Jay
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Re: Play-money Investment Simulator?

Post by David Jay » Fri May 12, 2017 5:38 pm

My sincere hope is that you crash-and-burn with the simulator. If you are successful with the simulator then you are liable to think that it's easy and put a bunch of real money into your "strategy".
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

MotoTrojan
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Re: Play-money Investment Simulator?

Post by MotoTrojan » Fri May 12, 2017 7:41 pm

David Jay wrote:My sincere hope is that you crash-and-burn with the simulator. If you are successful with the simulator then you are liable to think that it's easy and put a bunch of real money into your "strategy".
Buy-and-hold for life. I get plenty of a high from buying a share of VTI or rebalancing. Still find trading interesting and see it as a learning oppprtunitg, whether with play-money or a small amount of real.

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