MooMamaLlama wrote a note · Dec 23, 2022 05:31

Virtual Trading

Keen to challenge your skills without risking cash? Do you want to practice your TA, short term and long term? Want to see how you stack up against similar traders? 🤔

Learning to trade from scratch, tracking stock/options or tracking personal sentiment can all be done with Papertrade and Paperfolio tools on Moomoo! 📊 It also helps to scratch that trading itch when you're low on capital or just not sure about putting cash down yet, but want to follow something specific closely

There are lots of reasons we use virtual portfolios, the most common one is learning the process of trading and then diversifying. This is essentially what we all aim to do successfully 👌

The trading process is so easy to learn on Papertrade. It aims to match the exact process of a trade,like waiting for matching upstream transactions, and holds those executed trades like a portfolio.

It gives you $100k starting capital, and I personally try to use it as I would my own, though its minus a cpl of those 0's..... For now. 😉

You can trade in stock/etf's in multiple markets. It supports portfolios for U.S, H.K, Singapore & China A shares. It also has Options trading in U.S and Hong Kong markets. With the ability to follow top traders, you can see what they are buying and selling, and when.

You can also get competitive! 🏆 🏅 Also use points to redeem cards such as Reset, which restores your portfolio to the original value and clear transactions. Great after any spectacularly poor results!! There's also Defense which hides your papertrading details for 24hrs to avoid being followed, and Insight which let's you view positions and transactions of undefended accounts for 24hrs.

When it comes to diversification, a Moomoo Paperfolio is a fantastic tool. Track the trends and sentiment on your favourite stocks whilst practising how to manage a full and diversified portfolio. Go to- 1. Markets>>>>> 2. Paperfolio

Once in here you will find other people and portfolios you can follow. It ranks some in daily, weekly, monthly & total gains. It's the same as on your own, which is here at the top of the page-

You can buy and sell by pressing "manage" in bottom left corner. You can see what assets are in each class and how much liquidity, cash, you have aside from investments. You can also see which of % of your assets are in each market, and across which sectors. Rather than a cash value to each trade, you'll use a % value. Its a good way to assess a trade using a different eye 👁

I like to track stocks I actually hold, as well as those I'm watching for a while. Also I add new stock I've been introduced to that I want to track (often through those I follow, Industrial chain tool, or newsfeeds)

This means I will have a mix of new stock, stock I hold, or am watching for a good entry point, and also a very mixed bag of results depending on TIMING!!

As you can see, $Futu Holdings Ltd (FUTU.US)$ , $Jervois Global Ltd (JRV.AU)$ and $Mineral Resources Ltd (MIN.AU)$ all appear multiple times. You can also see the very different results for each. Some positions bought on top of a bullish peak about to fall, and some in a bearish slump about to jump! . I do TRY and buy on dips, both virtually and in reality. I have followed $Liontown Resources Ltd (LTR.AU)$down a bearish slump for quite some time in multiple paperfolios before investing my cash 💰

Then as you can see below I managed to find some pretty good entry and exit points in reality thanks to watching market sentiment closely for a while in Paperfolios (Papertrade does not support ASX stock as yet).

As mentioned before there are many reasons to use virtual trading and Moomoo provides 2 fantastic tools for this in Paperfolio and Papertrade. I use it to track sentiment on my stock, my own trading habits, follow pricing trends, "try out" different strategies....

There are too many reasons! That's why with so many options in Papertrading, and the ability to create dozens of Paperfolios, Moomoo is far superior as a teaching tool than any platform I've tried so far 👏

If you are new to trading, Congratulations! on taking the first step 🎊 Even if you're not new to online trading on Moomoo it's still a great challenge for traders with any level of experience

These tools are advanced yet simple to use, so traders with any degree of experience and ability can enjoy them...and should use them to more easily spot the traps and mistakes we can easily make and be drawn into (either in the market or our own habits)

Such as, I had been trying to use DCA to my advantage more, since it went so well with Liontown Resources. But trusting something is a fast recovering dip, whilst continuing to throw money at it like I did with $Novonix (NVX.AU)$ is a hard thing. I'd been hoping both LTR and NVX were in a temporary dip and I'd already seen nice profit on both. With paperfolios I realised Novonix was NOT in a dip but a downtrend with small jumps and waited for a better exit price in reality. I got a bit impatient though and sold before it really peaked again.. oh well 🙄

It could have been worse 😫 I may not have seen the pattern and continued buying on the small rebound after price was rising!! Thanks to my tracking NVX on multiple paperfolios it was easier to spot that the stock was actually trending down on all of them as opposed to a dip, and that I was maybe in a bit of denial! Company fundamentals were either positive, or coming into positive, but raising interest rates have taken its toll on growth stocks dependant on loans and equity raising ventures this year for sure 🎢📉

Thats just one example of using virtual trading to track my virtual AND real positions both make profit and make sure a small loss stays a small loss. Of course I've had many losses but that the price of learning... How high that price is depends on what you learn 🤔 😉

🏆🎖 Win or Learn, Don't Lose 🎖🏆

If you are new to trading, Congratulations! on taking the first step 🎊 Even if you're not new to online trading on Moomoo it's still a great challenge for traders with any level of experience.

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more

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MooMamaLlama

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