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Thursday, June 13, 2024

Stock Market Game

A stock market game is a great way to learn about the mechanics of online trading and investing. The concept is simple.

In a fantasy trading simulation you are given a virtual account with a certain amount of play money. These games allow you to buy and sell stocks and track them in your own personalized portfolio.

To get started you would first need to register to create you virtual trading account. When you play a game you would login to your account with a user name and password much like you would if you were trading using an online brokerage account.

Once you are logged in you will typically see a variety of options. Different games have different options but all allow you to place basic stock trading orders. Some of the more useful features you may find will be information such as stock quotes and even a stock ticker.

For educational purposes there may even be some free investment lessons and a glossary containing economic and market terms. You may also find useful articles and other resources on the companies whose shares you are interesting in trading. The data you receive to aid you in your research, such as quotes and financial news, will most likely be delayed (usually be 15 minutes or so). I have not found this delay to cause a problem.

A stock market game is a great way to learn about online trading without risking and real money of your own. It will show you the importance of becoming familiar with your online platform. The better you know your trading platform the less likely you will be to make mistakes when you start to trade with real money.

So if you think you know what the next super stock is this is a great chance to see how it will do. You can trade virtually any stock that you want, be is on the NYSE, AMEX, NASDAQ, etc. Many people play their hunches and intuition about certain stocks just to see how often they would have been right. This is a smart thing to do especially since you are only risking dollars in a Wall Street simulation.

Sometimes there are trading forums available. The forums add a social component to the game and allows you to interact with those the may have more experience in the markets.

Sometimes there are contests where you can use your skills to compete with other players to win real cash and prizes. These trading contests are not only fun but very educational as well. You can learn a lot by see what other contest participants are doing.

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