what is papertrade and how do you do it?

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Oldman answered a question in Financial Analysis.
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Oldman answered one year ago …

A "paper trade" is one that you do on your own sheet of paper...at the price of the security or option + the cost of the trade (100 shares of XYZ at 21.96 + 10.95 for cost of trade + $2196 + 10.95 cost basis)...and then you decide when to "sell' it and see if you have a profit or loss. It's a great way to try a new trading technique...and you can rationalize all you want, but it doesn't "cost" you anything in real $ terms...except for "opportunity" cost if XYZ really zooms.

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