PAPER TRADING or PHANTOM TRADING

An excellent tool for investors and potential investors to test trading plans, risk tolerances, and other strategies without exposing yourself to actual risk. Fundamentally you make purchase choices and exit plans and memorialize them. Track the price movement and decide for yourself how well or poorly those choices performed. Use accounting paper, an electronic spreadsheet, a database, whatever tools you are comfortable using and and easily accommodate arithmetic.

There is a tremendous impulse to change your selections retroactively. . . complete definition in a new browser window.