A stock trading game is not only a great way to learn stock trading, it is also a great deal of fun. There are certain stock market games available that actually have weekly contest where you can win real cash and real prizes. As if that wasn’t enough the games are absolutely free to play.
So at this point in time you’re probably wondering what exactly is a, “stock trading game”. A stock trading game is a stock market simulation. It allows you to pick and trade stocks using virtual cash. In this way you are able to participate and never have any real cash at risk.
Most stock trading games are accessible using your Internet browser. This is especially convenient as you’re able to play from the comfort and convenience of your home, office, or anywhere in the world that happens to have an Internet connection. Next I’ll show you how easy it is to get started playing a free stock trading game.
The very first thing you need to do is to sign up to be a part of the game. This is an extremely quick and easy process as you’re basically asked for only a few bits of information. Typically, you have to choose your own username, so choose something that is easy for you to remember. After that you only need to select a password to login to your virtual trading account. The last bit of information will be a working e-mail address. Make certain that it is valid because after sign up you will be sent a confirmation message to that e-mail address. Once you receive your confirmation message, click on the link inside to confirm that it was indeed you that requested the virtual stock trading account. That’s it, once you do that you’re ready to login.
Now it’s time to type in your selected username and password so that you can log into your virtual stock account. Once logged in, you’ll be able to navigate through your account and see such things as the value of your portfolio, which typically starts out at $100,000 in virtual funds. At this point it’s a good idea to locate the section on the stock market game’s rules and familiarize yourself with them. You’ll also find such options as a research menu which allows you to look up stock and option quotes.
In the stock quotes section of the game you’ll be able to type in a stock symbol into a search box. If you know the exact stock symbol and type it in your search will result in that stock’s chart showing up on the page as well as a host of other information about the stock. If you don’t know the exact stock symbol you can simply click on the, “symbol lookup” and type in the company name of the stock you’re interested in. From there you will be presented with a list of potential matches and all you have to do at that point is to find a company and symbol that match your criteria. Also in this list of stocks and stock symbols you will see a link called, “Trade”. This is really super convenient as it takes you immediately to the trade screen for that particular symbol. At that point you can either buy or sell the stock as well as enter the number of shares and the order type that you would like.
What I’ve covered are just the basics of playing a stock trading game. My favorite game in particular has a step-by-step guide on how to trade stocks in the game. Although everything within the game is extremely straightforward, it’s nice to know that you have this information available for review at any time.
There are two schools of thought when it comes to playing a stock market game. The first school of thought is that you should play with reckless abandon in order to increase your chances of winning some of the available cash and prizes. This method is actually fine just for having fun, but there is another method I prefer that will better serve you if your goal is to become a better stock trader. The second school of thought is that you should use the stock trading game as a valuable tool to learn stock trading. This is what I would recommend to anyone who has an interest in becoming successful in the stock market.
One of the nicest things about participating in such a trading game is that you get to test out your stock tips, trading ideas and techniques. While it is one thing to hypothesize and say a certain method of trading is profitable, it is quite another thing to put your ideas to the test and see how they would’ve worked out. Your stock portfolio’s equity inside your stock trading game is the ultimate measure of the success of your trading methods. Your portfolio’s equity is updated daily and allows you to see at a glance how well you are doing. This is a level of accountability that is important for your future trading success.
As you can see playing a stock trading game can be an outstanding way to learn stock trading. Take advantage of this opportunity to improve your stock trading skills for free.
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