Risk-Free Day Trading

Day trading is appealing to many people for a number of different reasons. You may have had experience with a full service broker and found that your own stock picks compared to the ones they picked out for you. Perhaps an advertisement caught your eye, or maybe a friend of yours has been making extra money utilising online trading software, such as the systems Etrade and CMC Markets provide.

Whatever the reason, the exciting world of day trading has caught your attention. However, as you no doubt realise, day trading is risky business. There are plenty of sad stories about people losing money day trading quicker than a spin of the roulette wheel at the nearest casino.

It's true, there can be an element of gamble in the world of stock markets, but it doesn't have to be that way. The hard facts are that day trading is no shortcut to financial excess. Like most worthwhile endeavours, it takes time to learn the finesse and appropriate strategies to day trade successfully.

There's a lot of hearsay about strategies, market research and sensible decisions, and it takes time to find good information. In some cases, even with good information, the stock market will not react the way everyone predicts. Wouldn't it be great if we could just practice?

The good news is - you can. There are some top-notch share trading games for the Australian stock market that simulate real conditions quite accurately. It can give you a taste of the ups and down of stock trading without risking any real money. You can almost guarantee you will walk away knowing a lot more that than you did before starting.

For those who have traded before, it's a great opportunity to test your skills against other active traders, and it gives you an opportunity to try new or riskier strategies that you may avoid in real life.

We recommend starting with the ASX share market game. The game is run twice a year and simulates real share market conditions with a real-time platform. While the company list is much more limited than real life, you still have access to all sectors, share dividends and broking fees that can make a real difference between profit and loss.

Interacting with other share market game players may also give you valuable insights into the world of day trading, and there is a lot to learn off the more successful traders. You can find out more from the ASX website.

The major banks and online stock trading agencies, such as Westpac Broking, have also run stock trading games in the past. These all follow different formats and present different challenges that will enrich your knowledge of the Australian stock market.

If you are interested in risk-free day trading, try one of the share trading games and put your day trading skills to the test.