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I've recently taken a liking to the whole idea of trading and read some books on trading (day trading in particular). All of them suggested to do paper trading first and that's also my idea. I wanna practice and get proficient with the general idea behind day trading, the tools and so on before I invest real money into it. But before I can do all of that I have a few questions:

  1. What is a good broker when you are a) from Europe/Germany and b) want to start with a small account (let's say 5000-10000 Euros). Preferably one that also offers real time paper trading.
  2. Can I trade on the American Stock Markets as a European without additional costs?
  3. What are essential tools in your opinion to have? At the beginning I would probably opt for free tools, maybe like finviz as a screener? (Is there an alternative to finviz for the European market?)

So far, I think, these are my essential questions on my mind right now. I would appreciate any input from you guys on these.

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  • You have to determine what you want to trade and then learn everything about that security and have related tools. If it's options, you need to understand them clearly and have good option analytics. If it's earnings announcements then you need real time news. There are many ways to trade and many securities that you can trade. Futures? Pairs? Volatility? Note that paper trading is useful for learning the mechanics of your brokerage platform, but it is no substitute for the emotions of real time. Note that most traders lose money so don't be in a hurry to lose yours. Learn first.
    – Bob Baerker
    Mar 11, 2021 at 11:47

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