Thursday, October 24, 2013

Looking for the right stock market game? Here are the options!

Finding a good stock market game can be a tricky task if you don't really know what the options are. Recently I wrote a post why you might be better off trying out your broker's demo account instead of such a trading simulator. However, the overall response to that post was that such is generally true if you want to start trading as an individual, like myself, and want to try out different brokers. But I guess I overlooked a whole group of people like students who want to learn how to trade the financial markets, or office workers who want to have a little contest going and see who can make the most money within a certain amount of time. There are a few options out there, and I'll start with my personal favorite stock market game.

It's from 'MarketWatch' and it's perfect if you're interested in trading stocks. It's the website I usually refer people to if they want to learn how to trade stocks; very basic but the nice thing is that it is instantaneously (always wanted to write that word). Usually stock simulators are delayed (15-20min), but with MarketWatch you're able to trade in real time. The user interface is very self-explanatory and you're able to set your limits and stops in no time. Also you can set prerequisites like the starting amount, duration, diversification rules and limitations. People from a school, college or community can have their own private stock market game. In fact, VDM Trading has its own contest going which will wrap up at the end of the year. I reckon it's the best platform that's a big step-up from 'paper trading.'
If you're looking for a stock market game with a little more advanced features such as a 'build-in' option simulator, look no further than 'Investopedia'; where you can trade stocks and options in your game. The problem that you will encounter however is that it's delayed, and there is a leaning curve involved of course if you want to trade options. Overall, Investopedia is an excellent website. Particularly if you want more information about trading. Another one to check out is 'SmartStocks'; create a group that can only be accessed with a password an you have your own private trading community. The nice thing about SmartStocks is that they also have an app for mobile platforms such as an iPhone/iPad app, so you can make your trades on the go. They have their own community and you are able to do research right on their own website, which comes in very handy. Recently, CBOE has its own 'state of the art' (as they call it), options simulator game, but again - there's a learning curve involved if you want to trade options. This article is mainly to educate people who are interested in basic stock trading, but I thought it was worth mentioning if you are a little more experienced and want to learn how to trade options. CBOE is definitely the place to go. If you think that there's a stock market game that should be listed here, leave a comment :) Also don't forget to check out my e-book which tells you everything you need to know to start trading the markets! Also available on Amazon:



Disclaimer:

All opinions expressed, trade recommendations/advice on this website are solely of John van der Munnik and are not affiliated with any investment firm or any other organization. You should not make an investment only based using this website VDM Trading for your trading needs without seeking help from your own financial advisor.