Software tools like WizeTrade

[stocks54]

Hello Guys,

I am new to stock market. Recently I went to couple of seminar - to name one WizeTrade...For 2 day seminar they are asking $900... My question is does any one of you have any experience with such software... any recommendation as to whether they are worth it?

Thanks for you insight.

Regards.

[stenzrob]

I have no experience with such things. Anything that could speed the learning process would be good, it's a matter of whether it's worth it to you. I have learned entirely by experience and reading, use no special software, only what's available online for free. I've been told that learning by paper-trading can be worthwhile. I tried that for about a week then lost interest, so I put $1000 into an ETrade account and played with that for about six months (turning it into $2000) before plunking down another $5k.

[The Kid]

I agree with Stenzrob on paper trading. If you are a new investor, it is a very good way to see how stocks you have selected with a fake amount of money react, and, probably just as important, how you react to the stocks' movements. The BEST thing about paper trading is that you are guaranteed to not lose a penny. I highly recommend it for at least a month before jumping in. Remember, discipline and percentages are two key words you will want to remember when investing.

Happy and proseprous investing :) ,

the Kid

[stenzrob]

I agree with The Kid about the importance of seeing how you react to how your imaginary positions behave, up and down. I only question whether your reactions to imaginary gains and losses are a good predictor of what your reactions will be to real gains and losses. That's why I lost interest in the paper trading. I got a lot more interested when I had even 1k$ actually in the ring.

[The Kid]

LOL :lol:

Stenzrob is so right. The real emotions comes with the real trading. I am sure any of us who have been doing this (sometimes quite poorly :( ,) can tell you. :oops: I still highly recommend the paper trading if you a relatively new, but like they say......there's nothing like the real thing. :)

Good luck,

The Kid

[stocks54]

Guys,

Thanks for your response. Till date I have always been trading on gut/intutive feeling, news and little bit of fundamental....As small (retail investor)...I got into stocks that had already moved up...ultimately ended up holding lots of stocks in hands....

Strenz/Kid -- As you guys pointed out emotions play quite a dangerous role....

Will try to dig more into fundamentals.....looks for comments on the board...hope I can make some money like you guys...

Thanks for your insight...

Regards

[mcole74]

Hey, I've wondered about WizeTrade after seeing commercials, but C'MON--why pay that much when we have the HUGE one himself?
:)

Anyway, here is an interesting link I found about it:
http://groups.google.com/groups?q=wizetrade&hl=en&lr=&ie=UTF-8&oe=UTF-8&safe=off&selm=Xns942F430A03793ccruizermydejacom% 4064.164.98.51&rnum=4