Paper trade accounts surface when traders prefer not to make exchanges using real money. Some experts say you need to set up an account that is specific to it, but some will also tell you that setting up a paper trade can be as simple as having yourself a designated notepad to track your transactions and record charts. However, before you even think of whether or not it is highly necessary to set up a professionally done or do it yourself paper trade tracker, you must first determine what you plan to trade on. In trading commodity futures, there are a number of options you can choose from.
These include sugar, corn, live cattle, wheat, soybeans, coffee or cocoa, silver and even silver. Some currency trading old timers will say that corn is a good commodity to start with because the corn market is generally predictable and the margins are not too high. You can replace corn with wheat, as they basically move and trade the same way and, sometimes, in conjunction to one another.