What’s the Minimum Capital Outlay – $1,000, $10,000, $100,000?
One of the most popular questions amongst stock trading beginners is: “How much capital do I need to get started?” – it’s an obvious concern for every novice trader just getting started in the market, but the answer is rather simple: $0. How can you get started trading stocks with $0, you ask? Two words – Paper Trading.
Paper trading is a form of “virtual” or “demo” trading that allows you to test strategies and gain experience without risking any real money. You might be one of the individuals who decides to skip this essential phase in your trading development, but the fact of the matter is that most individuals jump into the market too early without the necessary education and practice. If you ask any expert their #1 advice for new traders, they’ll most likely recommend paper trading. And if you ask any trader their biggest regret, it will probably be choosing not to paper trade when they started. Use their bad experiences and good advice to your advantage.
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