The Best Paper Trading Options Platforms for Beginner to ...

Options trading in the UK

I've been purely interested in Forex for the past few years, and in the last month have been studying Mcmillan's Options as a Strategic Investment alongside the study guide (which was expensive for the number of errors it had).
Alongside this I've been very loosely paper trading on thinkorswim, mainly with credit put spreads and iron condors.
Looking for some general advice from people in the UK re options trading. What brokers allow trading of US equity options, what else I should consider, minimum account size, trading platforms, etc. Any help would be appreciated.
submitted by cardybean to options [link] [comments]

Pro tip for new people trying to use TD Ameritrades thinkorswim and getting approved for Forex trading

If youre like me and have 0 experience trading options but want to use thinkorswim to trade forex, you may run into the issue of having to be approved for their teir 2 options trading.
It may be no issue for most, but for myself I filled everything out and wasnt even allowed to apply due to (honestly) filling out my profile and saying I have no experience trading options. They wont even allow you to do the application. Then if you go and, uh, fudge some numbers, youll still have to wait 60 days because you changed information on your profile.
Im a big impatient guy and am comfortable with paper trading and wanted to move on to some low dollar trading so I messaged them. They basically just told me to do the options trading courses on their website, fill out a copy of the application and send it and the certification for the courses to them in a message. You will not have to wait the 60 days and are more likely to get approved.
This is probably a problem that all of 3 other people will run into this year but just thought I'd put it out there for anyone who needs it.
submitted by shitcars__dullknives to Forex [link] [comments]

Platforms with the best userface?

So I was planning on using thinkorswim which has a very nice userface that i got pretty used to while papertrading, but apparently you have to get approved for a few different things before you can trade forex on there. Got denied for options for some reason, so I have to wait 90(?) days to reapply.
Well I'm a pretty impatient boi so thats not gonna work for me, i will continue using it to paper trade and will eventually move back there once it gets approved but in the mean time Im wondering what the concensus is on other platforms simply from the userface side.
submitted by shitcars__dullknives to Forex [link] [comments]

Options questions from a day trader.

I’ve wanted to write this for awhile and I’ll do my best to be clear.
I’ve been a day tradescalper for the last four years. As in I quit my main source of income and focused on trading. I started in Forex and ended up in Futures. I am a break even trader when it comes to scalping. Even my winning months aren’t winners because of fee’s and commissions. I am not a good scalper.
During this time I have traded a micro Forex account on the daily time frame. It is the most profitable I’ve done trade wise. I’ve also paper traded option Straddles/Condor’s with Thinkorswim for a few months with good results.
I closed my straddles at the 50% profit mark and I always sold put straddles. All my trades where BOPB Break Out Pull Backs on the daily time frame. When I would enter I would look for a 70% IV? Hope that makes sense. I would use the analyze feature of TOS for that.
I would watch the economic calendar and earnings reports to make sure my play would not get taken out. There where a couple issues I ran into though. It seems I would always be risking $1500 or $2000 to make $500-$600 per play. Which means I have an inverse R to R. Some of the stocks I traded would not always close when I wanted because of liquidity. It would take a few hours or days, even so the trades worked out.
I feel like my winning streak is dumb luck, but at the same time I feel I am on to something. I Joined Alta5.com and I have been running the Tasty Condor and the Bittman Algo. I understand the Tasty Condor more than the Bittman. But the Bittman seems to work really well. When I get my head around options more I will make some custom bots and see how they do.
I guess what I am looking for is how do I set up a good R to R with options? Example, day trading I would set aside $200 win or lose for my trading account. I could have a small or large stop loss, enter with 1 or 2 contracts as long as I stayed with in the $200 for a day. If I had a trade that was winning I could scale in as long as I stayed with the $200 rules.
Here are screen shots of my Alta5 Bots running. What it looks like to me is that I have 25k staying in the market with a $50,000 hard cut off and unlike a naked option it looks much safer and profitable with the straddle.
What am I missing from the Sim world that I would encounter in the real world?
https://www.screencast.com/t/xkuzzEiaxn Picture of the tasty condor.
https://www.screencast.com/t/9BITvR7iG9
Bittman algo.
Thank you guys for the help.
submitted by ThatBlueKid to options [link] [comments]

HELP

I have just recently picked up a book on Forex trading, downloaded the thinkorswim platform, and now have a 60 day paper money trading account to use before going live. I have a degree Economics from a Big Ten school, so do I have a good fundamental base knowledge on both how currencies derive their value, as well as how the equity market operates. Now, about 30% into the book, I can understand that the currency pair is of no intrinsic value, nor does it appreciate over the long term in general cases (being that it is a ratio + non dividend paying), and all of the methods to identifying trends introduced so far.
Now, what I don't understand is 1) What exactly you're holding when say, you go long on the USD/EUR, for example. 2) Is the currency pair market essentially all options that people are trading, and if so, how do you/ do you exercise that option in any case? And 3) Not only that but what are exactly, after a successful trade say, the mechanics behind the trade (profit derived) that will result in a an addition of money your account?
That much is a bit lost on me so far, I would greatly appreciate any clarification
submitted by RodgerSterling45 to Forex [link] [comments]

Paper Money

I'm looking for the perfect paper money trading game. Recently my game expired, and I really want a new place to play. I would invest with real money, but I am only 17 and brokerage accounts are just about 6 months out of my grasp. I'm looking for a place that allows me to trade more than just stocks. I would love for access to paper trading in stocks (domestic and international), bonds, options, FOREX, Futures contracts--the whole works. I found this an loved it in ThinkorSwim with TDAmeritrade, but I also have a competitive side I would like to appease, so I am looking for some head-to-head action. I have been playing with paper money for about two years now, with some pretty impressive returns (I think), so I need a way to see how I really stack up. It can be temporary, again soon I will have my own brokerage account to utilize.
Also, if anyone else is interested, once I know what kind of program I can use, maybe we could set up a game for /investing. I'm aware that some games might already exist, but maybe not to this extent. Let me know, thanks!
submitted by drellim14 to investing [link] [comments]

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thinkorswim® paperMoney®: Stock Trading Simulator Tutorial ...

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