Learn Stock Trading at Umoo

Posted on 31. Mar, 2009 by Jakob in Paper Trading, Stock Trading

When starting out with Forex Trading, you have the possibility to choose from a wide range of brokers, which will offer you free practice accounts, with real time data. If and when you decide to use real money, you will often have the option to start out with a deposit as low as $25(depending on your choice of broker). However, the barriers to entry in the stock trading arena, is somewhat different. If you are considering to open an account at an American stock broker, and plan on trading more than 4 times within a week, you will fall into the category of a Pattern day trader, hence your account must maintain at least US$25,000 worth of equity, at all times. Furthermore, you will pay for data, software fee, commission, etc.

So if you consider opening a stock trading account, maybe you should take a shot at trading paper money before you throw in $25K. Umoo is a perfect solution for the individuals looking to test their skills in this game. Joining Umoo is absolutely free. You can paper trade all you want, in free tournaments, just like a poker game. Umoo also hosts free tournaments, where you can win cash prices. If you want, you can deposit money into your account, which is used to pay entrance into tournaments, and obviously there will be cash prices here as well. The entire concept is very similar to online poker, and it works perfectly.

When joining a tournament, you will have real time data, charts, news, etc. Everyone in the tournament starts out with the same amount, and then it is up to you to maximize your funds before the tournament is over. Both buying and short selling is possibly. There are many different tournaments every day, and they range from a few hours to a few days.

If you are thinking about becoming the next wall street warrior, why not start at Umoo.

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1. New features at Umoo
2. UpDownOptions – Practice Options Trading
3. Events at Umoo
4. Practice Stock Trading with TradingSim
5. BGBR Update – Marketing or Stock Guru?

Tags: Stock Trading, Umoo