Paper Day trading

Paper trading is 'pretend trading'. You should start by paper trading while you are learning - you will need your real money for later! Paper trading will give a day trader an good idea of his ability to day trade and how likely he is to be successful at day trading. While paper day trading, a day trader should first become comfortable with identifying potential opportunities and actually how to place (make-believe) trades rather than worrying about profit or loss. Once that level is reached, the day trader can concentrate on creating a consistently profitable P&L. An alternative to paper trading is to use one of the ultra-cheap day trading spread betting firms who will allow you to day trade for pennies on the point (meaning that you only risk a few dollars, yet get the actual feel of 'real' day trading).