Successful day trading requires a base of knowledge about what you choose to trade and the hardware and software used for day trading. The first task in starting to day trade is to familiarize yourself with your trade station and learn how to use your day trading software. A trading platform such as NinjaTrader gives you access to futures data in real time, advanced charting, a trade simulator, the ability to connect to the broker of your choice including NinjaTrader Brokerage, unlimited Forex data in real time, and the ability to do back testing and strategy development. To be successful in trading commodity futures, currencies, options, or stocks you will want to develop skill sets with each aspect of your trade station as you practice day trading in order to learn and develop your strategies and tactics.

How to Practice Day Trading

At DayTradeSafe we teach a consistent, rules-based approach to day trading. How to practice day trading is to apply what you have learned to simulation trading using your trade station software. This allows you to learn to use the tools that your trading software offers and to improve your application of rule-based trading to real world situations but without the risk of losing money. When you practice day trading try out the features of your trade station and try to trade as you expect to once you are trading your own money in real live trades. You should never start trading “for real” until you can routinely profit in simulation trading and especially not until you have finished your trading course.

Day Trading Practice Programs

Professional day trading programs like NinjaTrader come with free trade simulation software. With the Ninja program you can learn using real historical market data, try out your strategies, back test against historic data, and rewind the markets to analyze your trades. NinjaTrader comes with more than a thousand apps that you can use to enhance your trading. However, we suggest that you use the basic day trading practice programs like Ninja first and only start adding apps and add-ons when your skillset with the basic program has progressed to where you routinely see profits.

Practice Day Trading Free

With the bulk of day trading software programs including NinjaTrader you can practice day trading free. This allows you to learn how to navigate the program and to apply what you have learned about rules-based trade entries and exits until you are seeing routine profits in simulation. Then you can start trading with real money in small amounts. As you progress in your trading you can always go back to practice day trading free. Do this to try out new strategies, to rewind the market to analyze past trades, and sort out any problems you are having with your day trades.

Free Day Trading Practice Account

Our trading platform of choice is NinjaTrader. Besides offering a whole host of excellent features they give you a free day trading practice account so that you learn the necessary skills and hone them to perfection before routinely placing your own real-time trade with real money. This feature is essential for beginners who need to learn the necessary skills and become skilled in the “performance art” of real live trading. It is also invaluable for advanced traders who want to test new trading strategies or back test to see what went wrong in one of their trades.

Practice Day Trading App

The inclusion of a practice day trading app is pretty much standard in professional day trading programs. In addition to its basic software a program like NinjaTrader lets you add more than a thousand different apps to enhance your trading both for practice and for live trading. We find with our students that the best approach when you practice day trading is to learn the basics that the program offers, apply what you have learned about day trading to real historical market data, and only add another practice day trading app when you understand what you have already been using.

Where Can I Practice Day Trading?

You can practice day trading right at the same trade station where you will be trading in real time with real money once you have learned the ropes. When you are actively trading your trade station is still where you can practice day trading in order to test new approaches and back test to tracking down trading errors. A wise man once remarked that there is no problem in life that cannot be solved in a quiet room with paper and pencil. The world has since moved into the computer age but the principle still applies. Even when you are an advanced trader practice day trading is essential to keep your skills fresh.

Best Way to Practice Day Trading

Using day trading practice to get better at what you intend to do when day trading. Use your day trading program to look back at your old trades. Analyze both the ones that were successful and the ones that failed. Then use practice day trading to test out how you could have improved the good trades and how you could have avoided problems with the failures. When you have done this, consider what changes you may want to make in how you approach similar trades in the future. Then, apply those ideas in simulation trading before moving back to live trades with real money.

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