In this post, I would like to help how to paper trade using jstock stocks scanner. This is an easy , free online software for paper trading NSE and BSE stocks. You can now look for stocks to paper trade, you can get an idea how trading works.
Follow the link to download the software from this location (http://jstock.org/download.html) , I love to use the windows version and very impressive when it comes to paper trading. I use it to track stocks easily or paper trade daily using this amazing software. It also comes with an android version, I am not sure of how it works!! I will review it during some other time. But for now, lets look at the Jstock stock screener or scanner for the PC windows version.
You need have to the latest version of java installed I guess, because it runs on java platform. After you have installed and started by double clicking. You could different tabs horizontally on the top. Close the country accordingly depending on your need ( in my case, it is india and I have selected the same from the country tab)
I could see the sensex and nifty values from the top menu. Next step is to move to the options tab and choose network from the option. Select google finance option from the network option, which helps you pull the data from google finance. It is free and real time ( you get data in realtime and very helpful in tracking the stock prices for longterm and in intraday )
How to watch stocks?
You will have some favorite stocks to buy or sell. You can add it through the stock watchlist option this helps you add or remove the stocks which ever you wanted to. You can simply add the stocks here. You could see the stocks listed here below from the search tab. ( there is tab close to the stock ) .provide the symbol there and start to add the stocks in the list. You can set alerts of the stocks in the watchlist. This would help you if the stock breaks the high or drops below a low price.
How to add it to the portfolio?
Jstock has a sample portfolio to add stocks and track the profits or loss. This would help you track your balance of the amount you have. This gives you an general idea and can be easy when times you don’t have a trading terminal to track live prices
How to scan stocks?
traders can now scan for stocks in realtime. Like day's high , day's low , Macd crossover, bollinger band crossover, stochastics, RSI and much more. In next post , I will explain step by step to make profitable trades using simple indicators. but for now, stick to the basics.
Jstock stocks scanner is a very useful software for the day trader and easily to understand . it is designed to help trader by keeping simplicity in mind .Learn how to create your own Jstock formula to pick stocks for swing trade