Simulated trading coin speculation software

This article aims at novice in cryptocurrency trading and deeply analyzes the simulated trading functions of the three major exchanges, Binance, Ouyi and Sesame. The risk of entering the market is high, and the simulated trading platform is like a "sandbox" that can learn trading skills and market rules at zero risk. The article compares the advantages and disadvantages of simulated transactions of the three platforms, including data authenticity, transaction function integrity, and learning resources richness. Finally, it gives selection suggestions to help novices choose the right platform, learn cryptocurrency transactions safely and efficiently, and make full preparations for entering the currency circle.

For novices who want to enter the cryptocurrency market, it is more risky to trade directly with real money and silver. Simulated trading software is like a "sandbox", allowing you to experience the real trading process, learn trading skills, and be familiar with market rules in a zero-risk environment. Exchanges such as Binance, OKX, and Gate.io all provide simulated trading functions. Which platform is more suitable for beginners to get started? This article will conduct in-depth analysis of the simulated trading functions of these three exchanges to help you find the best practice platform.

1. What is simulated trading?

Simulated transactions, also known as virtual transactions or on-paper transactions, refer to the use of virtual funds to conduct buying and selling operations in a simulated trading environment. Simulation trading software will simulate real trading markets and provide real-time market data, trading interface and order execution mechanism.

Advantages of simulated trading:

• Zero-risk learning: Use virtual funds without taking actual funding risks.
• Be familiar with the trading process: Understand the exchange's trading interface, order types, trading rules, etc.
• Test trading strategies: Verify the effectiveness of trading strategies and avoid blind investment.
• Cultivate a trading mentality: Exercise a trading mentality and overcome fear and greed.

Limitations of simulated transactions:

• Lack of realism: The lack of real funds in simulated trading may lead to a different trading mindset than real trading.
• Market Depth Difference: The market depth of simulated transactions may differ from the real market.
• Unable to experience the handling fee: Some simulated trading platforms may not charge handling fees, which is slightly different from the real trading environment.

2. What functions should simulated trading software have?

An excellent simulated trading software should have the following functions:

• Real market data: Provide market data synchronized with the real market.
• Complete trading functions: Supports various order types, such as market orders, limit orders, stop loss orders, etc.
• Customizable trading environment: Allows users to customize initial funds, trading products, etc.
• Detailed transaction records: Provide detailed transaction records to facilitate users to analyze transaction results.
• Friendly user interface: The interface is simple and clear, and the operation is simple and easy to understand.
• Technical indicators and chart tools: Provides a wealth of technical indicators and chart tools to assist in trading decision-making.

3. Binance: The contract simulation disk functions are perfect, and the transaction experience is real.

Binance's simulated transactions are mainly reflected in the contract simulated trading.

• Contract simulation disk: Binance provides contract simulation disk, where users can use virtual USDT to experience contract transactions. The trading interface and trading mechanism of the simulated disk are basically the same as real contract trading.
• Real market data: Binance's contract simulation market uses market data synchronized with the real market.
• Complete trading functions: Supports various contract order types, such as market orders, limit orders, stop loss orders, etc.
• Customizable trading environment: Users can customize the initial funds and choose different trading symbols.

Advantages of Binance Simulation Trading:

• Real restore contract trading experience: The contract simulation is highly similar to real contract trading.
• Market data is true: Use market data synchronized with the real market.
• Complete trading functions: Supports various contract order types.

Disadvantages of Binance Simulation Trading:

• Mainly focused on contract trading: There is currently no simulation function for spot trading.
• Lack of detailed transaction record analysis function: The transaction record function is relatively simple, but the analysis function is insufficient.

4. OkX: The trading school provides simulated trading to help beginners get started

OKX's simulated trading capabilities are integrated into its trading academy.

• Simulated trading in the School of Trading: Ouyi Trading Academy provides a simulated trading environment where users can learn trading knowledge and conduct simulated trading exercises.
• Complete trading features: Ouyi Trading Academy simulated trading supports various order types.
• Rich learning resources: Ouyi Trading Academy provides rich learning resources to help beginners get started quickly.

Advantages of Ouyi Simulation Trading:

• Combined with learning resources: Combining simulated transactions with learning resources to facilitate newbies to learn and practice.
• Supports multiple order types: Meet different transaction needs.

Disadvantages of Ouyi Simulation Trading:

• There may be lag in data: The data of simulated transactions may have a lag in data from the real market.
• Lack of customizability: Users cannot customize initial funds and trading symbols.

5. Sesame Door Opening (Gate.io): Lack of official simulated trading functions

Sesame Open Door (Gate.io) itself does not provide official simulated trading functions.

• Relying on third-party platforms: Users need to rely on third-party platforms for simulated transactions, which poses certain security risks.

Advantages of Sesame Open Door Simulation Trading:

• Rich currencies selection: If third-party platforms support simulated transactions, users can choose to trade various niche currencies on Sesame Open.

Disadvantages of Sesame Open Door Simulation Trading:

• Security risks: There are security risks when using third-party platforms.
• Functions and services cannot be guaranteed: The functions and services provided by third-party platforms cannot be guaranteed.

6. How to choose a simulated trading software that suits you?

When choosing a simulated trading software, the following factors need to be considered:

• Trading objectives: If you want to learn contract trading, you can choose Binance's contract simulation disk. If you want to learn spot trading, you can choose simulated trading from Ouyi Trading Academy.
• Experience level: If you are a novice, you can choose software that provides rich learning resources, such as Ouyi Trading Academy. If you have some experience, you can choose software with more comprehensive functions, such as Binance's contract simulation disk.
• Trading symbol: If you want to trade a specific currency, you need to choose a simulated trading software that supports that currency.
• Data authenticity: Choose software that provides real market data.

7. Things to note when simulated trading

• Simulated transactions are not real transactions: Be aware that there are differences between simulated transactions and real transactions, and do not use the results of simulated transactions as the only basis for investment decisions.
• Cultivate good trading habits: Develop good trading habits in simulated trading, such as setting stop loss, controlling positions, etc.
• Regularly summarize trading experience: Analyze transaction records, summarize success and failure experience, and continuously improve trading strategies.
• Gradually transition to real-time trading: After achieving stable profits in simulated trading, you can gradually transition to real-time trading, but you must control the scale of the funds.

8. Summary and Suggestions

Simulation trading is a very useful tool for beginners who want to learn about cryptocurrency trading.

• Binance: The contract simulation disk has complete functions and a real restored contract trading experience, suitable for users who learn contract trading.
• Ouyi: The trading school provides simulated trading and combines rich learning resources, suitable for beginners to get started quickly.
• Sesame Open Door: There is no official simulated trading function, so novices are not recommended to choose.

Based on your trading goals and experience level, choose a simulated trading software that suits you. In a zero-risk environment, quickly master trading skills and prepare for entering the currency circle!

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