What's your opinion on TradingSim? Is it worth it?

[Konstantinos Spanos 1]

Hi everyone,

so i'm thinking of using TradingSim to practice trading in recent past, as a substitute to das trader real time simulator (my demo expires tomorrow). the reason is,  apart from it being cheaper, I want to increase my exposure to a bigger amount of recent market data than what a real-time simulator can , and also can make my practice really time-flexible as I could do it whenever I want. 
I'm asking for opinions because they offer only a yearly package with one time payment, requiring bank card details when I try to join the 7 day trial, and I wouldn't like to pay for it if it is not worth it.

Thanks in advance.

[Carlos M. 232]

TradingSim is great!

Now this weekend I will be releasing a video for the BBT community about DAS replay function that will allow replay of past real-time action. Just making you  aware of it before you make your decision to purchase.

TradingSim has been out for some time and their service is amazing. Now this is just my personal opinion, being able to replay action on the same platform that I am using to trade is powerful. 

Look out for the video by Sunday evening the latest! Thanks!

[Konstantinos Spanos 1]

thanks Carlos I'll be waiting for it! 

[Brendon 146]

I have not used TradingSim in years, and I personally did not like it. You don't want to cheap out on learning the ropes, if you are concerned with costs of your tools you are probably not psychology ready for the coming losses in learning to trade live. My opinion is to work with the real thing, the live market, and on the platform you will be using, like DAS. I would not buy a yearly package, that is probably way to long to spend on that platform for market replays. Then again I used this tool years ago and am not sure how good it is now. I heed to Carlos's advice! 

[AcKeBoNNiE 2]

On 12/13/2019 at 1:47 PM, Carlos M. said:

TradingSim is great!

Now this weekend I will be releasing a video for the BBT community about DAS replay function that will allow replay of past real-time action. Just making you  aware of it before you make your decision to purchase.

TradingSim has been out for some time and their service is amazing. Now this is just my personal opinion, being able to replay action on the same platform that I am using to trade is powerful. 

Look out for the video by Sunday evening the latest! Thanks!

Hey Carlos. Where can I find this video? I am really interested in it 🙂

Thanks in advance!

[NAVEEN 5]

Hey Carlos - Can you share the link to the video for DAS functionality?

[wayneb 7]

If you open a TD Ameritrade account you can use their on demand feature for free very similar to trading sim. I find the biggest problem with this type of practice however is you really don't know if the stock your practicing on was really in play that day. If you cherry pick it from a known in play day you kind of know whats going to happen and trade it with unfair bias. I find trading live in sim is the best experience. 

[NAVEEN 5]

Hi Wayne. Thanks for your response. agree that it is ideal to practice during trading hours but my schedule doesnt permit this most of the days. My goal is to practice in simulator in the evenings after work. I plan to watch the pre-open show in the morning and dont follow market all day.  My schedule is not very flexible so thought this is my best option. Thoughts?

[Carlos M. 232]

Guys,

Here is the post about the DAS Replay feature including short video on how to get it and use it. 

Thanks!

[wayneb 7]

2 hours ago, NAVEEN said:

Hi Wayne. Thanks for your response. agree that it is ideal to practice during trading hours but my schedule doesn't permit this most of the days. My goal is to practice in simulator in the evenings after work. I plan to watch the pre-open show in the morning and dont follow market all day.  My schedule is not very flexible so thought this is my best option. Thoughts?

You can create a gappers list and setup your pre market strategy then try the one or two stocks you feel were in play. Just don't look at how it did or you will have an unfair bias. Also general market conditions may give you a bias so my experience is it's really tough to do it fairly. You also have to wait a few days for the playback to become available so that can be a problem because Carlos doe's a recap from the previous day. An example would be trading Mondays ITCI on Thurs or Fri, you'll know whats going to happen. I tried trading each day minus a year but you can't tell if the stock was in play. Like I said I used it for a couple of months and did not see any benefit unless you live in a bubble.

[NAVEEN 5]

Thanks Wayne and Carlos

[Brendon 146]

Unfortunately the only solution that worked for me was to move time-zones to have a 'sure thing' on my trading performance while I work my career. Last thing you want to do is practice in a replay simulator, save up all your money, then leave your job for day trading and find out you can't hack it yet. Too risky...but if you want to get a general feeling for day trading absolutely try a replay sim, that is the first step. 

Edited December 25, 2019 by Brendon