Learn How to Make Money with Virtual Stock Trading
Paper Trading
Before the invention of the online virtual stock game, investors used paper trading to practice their skills. Fake money was used in these games, which is how the practice developed its name. Today, paper trading is expressed through a variety of Internet-based games. To access these games, you must use an online stock trading company or visit a site that specializes in fantasy stock trading.
1) Online Stock Trading Companies
Many online stock trading companies offer virtual trading as a way of testing their services. Some of the most well-known include:
- eToro
- Options House
- Noble Trading
- Forex.com
- Zumo
Of course, regardless of the company one uses, the process of virtual stock trading is expressed the same way. Investors are given a practice account with thousands of dollars in fake money. With this account, they have access to all of the site's features. For most networks, this includes stock trackers, news reports and analytic programs. The data given through these tools is provided on a real-time basis.
When investors are ready trade for real, they can upgrade their account. The virtual money gets erased, but everything else stays the same. This makes trading more convenient for those who want to stick with the same provider.
2) Fantasy Stock Trading
Sites like Umoo and The Virtual Stock Exchange operate on a different premise. They provide fantasy stock trading, a type of game that keeps things in the virtual world. True, investors will still get access to the most common stock market tools, but the data they are given may not necessarily be real-time. This is not as much a concern with Umoo, as their site clearly states they use up-to-date information. However, with The Virtual Stock Exchange, there are a variety of games from different providers. Consequently, investors may not know what to expect.
On the upside, fantasy stock trading often attracts competitions. If investors meet certain objectives, they could win real cash prizes. This is not a bad deal considering no upfront money is needed to play these games.
However, keep in mind that the majority of sites offering fantasy stock sites cannot accommodate one's needs outside of the virtual environment. If they want to trade for real, they must use another network.
Online Virtual Stock Games – The Flash Scene
With most networks, to participate in virtual stock trading, one must sign up for an account. Flash games eliminate this step. As long as a person has JAVA installed, they can play an online virtual stock game immediately.
However, be aware that currently there aren't many Flash games offering virtual stock trading. In fact, the only one that is really worth playing is Stock Market 60. It is not as detailed as the resources mentioned above, but it can give a person a good feel for how virtual trading works.
Wall Street Kid - Virtual Stock Trading with a Twist
For investors, virtual stock trading is a dream. But for gamers, it might be a bit boring. Wall Street Kid offers a happy medium for both parties. Through it, gamers and investors practice their skills while learning how to manage other aspects of a person's life.
In Wall Street Kid, the protagonist must earn $1 billion to buy his deceased uncle's estate. In the meantime, he must achieve certain milestones to maintain a decent social standing. In addition to buying expensive houses, cars and boats, the protagonist must keep his girlfriend happy and stay on top of his health. If he fails in either of these areas, he will still lose even if his investing is in order.
As far as the investing itself, it is more simplified than what one would find online. There are no trackers, or analytic tools. The protagonist must use the paper, a financial advisor and a daily stock market report to determine which stocks he should buy. This process is easy in the first stage, but as the game advances players must use their wits to find winning stocks. They must also learn when they should drop stocks on the verge of decline.
Anyway, to play this game, one must get the original NES version or visit Nintendo8.com. The latter resource offers the game in its entirety online.
Overall, Virtual Stock Trading is Fun and Educational
Virtual stock trading should be used by every investor. It carries no risk and it helps people understand the stock market better. Most importantly, it helps people develop skills that can be transferred into the real life stock market arena. Whether the market is good or bad, virtual stock trading helps investors form the best personal strategies for success.
Questions and Answers
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