When you are doing a stock trading, some people can easily tune in and implement strategies right away, however it is better if learning some basic knowledge and then practice the real deal. The stock trading is something that involving implementing strategy and it requires practice. Practice will allow seeing what works and what doesn’t and it is even better when it can be done without risking any money. The stock market games will give the opportunity to trade using “virtual currency” or play money, so it is a fun safe environment to learn. The stock market games assist in developing trading strategies and it is a god way to get acclimatised to trading and developing strategies, although they can never precisely mirror real trading conditions in the live market with real capital. Here are some of the stock market games available that you can try.
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Chart Game
In this game “the computer will present you with a random historical stock chart of an actual large cap (S&P 500) security, without telling you which company and time period the chart represents.” Then, you reveal new days of price action and determine whether you want to buy or sell. In the end, the full chart and company name will be revealed and you can see how your decisions turned out. Your performance is then compared to a buy-and-hold approach. In this game, there is no sign up required and you start with $10,000 in cash. If you don’t know whether you want to buy or sell, then hit ‘Time-lapse’ to reveal more price action which may help you with your decision.
This game in many ways this simulates investing, although you can see your performance very quickly instead of waiting many months. One drawback is that your buys and sells will always occur at the following open. Overall, it is a good way to practice chart reading skills and develop an understanding for technical analysis.
QuestTrade Demo
One thing that you must remember that QuestTrade offers a free demo account. The one drawback is the demo account expires after 30 days. This provides you access to live quotes and a professional level trading platform, with lots of technical analysis tools and charts. Trade stocks, options, foreign exchange or contracts for difference (CFDs) with a $50,000 or $500,000 play money account.
MarketWatch Virtual Stock Exchange
Trade stocks in real-time using virtual currency, with no risk of loss. Trade on your own, or join competitions to trade your way to the top. Discuss strategies and tactics with other traders. The games you create can be fairly specific, such as only allowing certain stock symbols to be traded. MarketWatch is also a great news source so you have immediate access to recent market data and professional trader insights.
Virtual-Stock-Exchange
It is one of the most globally diverse stock market games. The virtual-stock-exchange allows to trade stocks on more than 30 global exchanges, such as New York, London, Argentina, Mexico, Bombay and Sydney. In this game it will allow choosing your type of currency deposit: peso, yen, pound, yuan, Canadian or US dollar, Indian rupee, Australian or Singapore dollars.
This allows traders around the world to trade various markets in their own currency or in a foreign currency. If trading in a currency other than your own, remember you’ll need to convert those funds to your own currency to realise your profit. Currency exchange rates also fluctuate, adding an additional element of potential risk and reward.
These stock market games allow you to practice implementing your strategies and theories in a safe and often fun environment, with no money at risk. Most of these games are a good starting point for beginners. Demo accounts will show you whether a strategy works or not (in terms of profit), but they can’t resemble the psychological pressure of real trading when your hard-earned capital is on the line. If you want a more accurate assessment of how you will perform in the real markets, don’t treat these games like games. Instead, only take trades you would if trading with real money. Also, when possible use a starting balance in the game that resembles what your starting capital would be if you were opening a real account.
