Dummy OST site

[#1]

What about creating a OST dummy site, an exact duplicate of the original complete with SSF's CFD's brokerage costs etc and a starting balance of 100k. Im sure it will be lots of fun and we will be able to learn so much!!, why not??...

[SimonPB]

we only really cater for smarties :)
but the real issue is that people learn nothing with play money .. an one can do it with a pen an paper, or excel if you really wanna be a smartie ..

[Mr_S]

thats exactly what my friend doesnt understand simon! abt play money...he seems to think that since hes making some bucks on the 'play play platforms', he wud make money with the real thing. i think these sites 'fake' or 'enhance' profits, cos he has no clue abt trading at all...

[#4]

No, but if you blow a lot of money on the paper trade platform it will be an indication that you're not ready for the real thing. Another reason for a paper trade platform is to test out a new trading system, like Skaaptjop did with his mechanical gap play experiments on the GT247 platform. Come on Simon, less shooting down good ideas and more services to your traders.

[#5]

No time to play on a dummy site!!

[SimonPB]

Vitorc .. re less shooting down .. thing is finite amount of resources and simple we have to decide what really adds value .. in all my decades in the markets true dummy accounts add very very little value to anybody .. yes I know they excite people, but that's not the question - do they add value is the real question .. they don't ..

[#7]

Clearly other companies see the commercial value in this, probably because it gives newbies a foothold to see what the heck trading is about, and then retaining a loyal trader afterwards. I'll just stick to keeping my GT247 account where I've properly forward tested my trading system before going live.

[SimonPB]

sure, but do you truely understand why they do it ?? research clearly shows it does not indicate a persons ability to trade .. but it does give them a false sense of confidence, so increases deposits and new accounts and then the money is lost bracuse the client learnt very little (if anything), but the house gets the comms .. google a HBR (think it was HBR) research paper from around 2002 on this subject ..

[#9]

Well when I started I went straight to live, donated a bunch of money to the market, went to dummy, saw where the system was losing me money, refined it, went back to live voila! Had I read those research papers I'd probably not be trading today.