Besides being a fantastic way to learn the markets and a whole lot of fun for the whole family, a stock trading game can be an excellent study aid to teach young and old investors alike valuable skills and financial management. Many top universities and schools are using these games as a way to strengthen the many concepts taught in their finance classes.
Choosing Your Favorite Stock Trading Game – Online Vs. Offline
Best of all, it's very easy to sign up and start playing your favorite stock trading game right away! All you have to do is sign up for an account and voilà – you have set up your very own virtual trading portfolio, complete with money and stocks are ready to be bet on. If you really want to challenge, you can also play together with your friends or even a stranger online using one of the many apps or software specially designed for mobile devices.
The real beauty of an online stock trading game is that you can get real-time quotes if you upgrade to a premium account. Although these can sometimes be delayed by several minutes, they nevertheless provide you with a very realistic experience of what it is like to trade and to find out about the consequences of your actions.
Now, if you don't like the idea of being glued to your computer screen, you can get a stock trading game in the form of "old-fashioned" paper trading. This allows you to buy and sell stocks just as you would on the market, while accumulating fictitious money and strategizing ways to minimize risk. Buy low or sell high just as you would in the real world or buy dividend shares when you feel like playing it safe.Whatever the case may be: write it down! On slips of paper, write down the date and time, the amount you bought the stock for and the quantity. Trade it a few days/weeks later or stow it away in an envelope and see if it was a good investment after some time.
It's a wonderful way to learn about training stocks or commodities in the comfort of your own home. Some online games even come with special community forums that allow you to interact with other traders at your level or higher. This is an excellent way to learn about new strategies that can help you to improve your game over time.
Try out a stock trading game today and you might just make a new friend or two, while helping to make your dream of conquering Wall Street a reality! It will definitely help you to understand the markets and see if it's something for you!
Related article: Looking for the right stock market game? Here are the options!
By guest blogger: +Ray Angelo